how does paypal work?
16-04-2006, 08:36 PM
#1
how does paypal work?
it's a silly question yes, but how does it work?
i know that i can pay for stuff out of my bank account rather than on the credit card (because i've done the £500 i needed to over the past 3 years or so) but what about getting money paid IN?
where does it go?
who sees it?
how do i know how much i've got?
and how much does it cost to get out?
and how mnay times can i go and get money out?
or is it best to get it all out in one go?
and HOW do i get it out?
i've been stung for £160 before and i'm still no where near figuring out where it went so is it a good or a bad thing to get money into the paypal account?
or is the cash/cheque thing better?
i know that i can pay for stuff out of my bank account rather than on the credit card (because i've done the £500 i needed to over the past 3 years or so) but what about getting money paid IN?
where does it go?
who sees it?
how do i know how much i've got?
and how much does it cost to get out?
and how mnay times can i go and get money out?
or is it best to get it all out in one go?
and HOW do i get it out?
i've been stung for £160 before and i'm still no where near figuring out where it went so is it a good or a bad thing to get money into the paypal account?
or is the cash/cheque thing better?
16-04-2006, 11:21 PM
#2
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16-04-2006, 11:48 PM
#3
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FACT: Paypal is a pile of shit
Absolutely avoid Paypal at all costs, I can 99% guarantee you will loose money one way or the other.
It goes to your Paypal account then you transfer it to your bank account - if you’re really lucky it will actually get there. On the other hand they may decide you're probably a dope dealer or an international money launderer and freeze your account and money for 180 days whilst there team of highly trained Chimpanzees make further investigations.
Just so you aware of the type of company your contemplating dealing with:
Paypal's terms and conditions infringe statutory consumer rights (Paypal "require" buyers to waive their right to statutory consumer protection laws - such as the buyer's right to issue a charge-back through their credit card company).
They have recently been fined 150,000 USD for mis-representation
They have recently lost a class action law suit in the US with a large number of unhappy customers, they have agreed to pay out over $9 million dollars to these unhappy customers BUT they still won't admit to any wrong doing
They are not a bank of any description, if for any reasons they go tits up you have fook all come backs - you're money is gone! Unlike real banks.
There are hundreds of websites dedicated to warning people away from Paypal.
They have the highest charge-back ratio of any online Ecommerce company on the internet - world wide
They openly admit sellers have "limited ability" to comply with they ludicrous policies which "guarantee" against fraud.
Paypal have also been on Watchdog twice in the last two/three weeks with numerous complains.
Seriously, do yourself a favor and stick with cash, cheque, postal orders or bank transfer it’s a million times safer. If after all the warnings you still choose to use them the best advice I can give is to never leave any money with them you cannot afford to loose because chances are at some point you will do.
Absolutely avoid Paypal at all costs, I can 99% guarantee you will loose money one way or the other.
where does it go?
Just so you aware of the type of company your contemplating dealing with:
Paypal's terms and conditions infringe statutory consumer rights (Paypal "require" buyers to waive their right to statutory consumer protection laws - such as the buyer's right to issue a charge-back through their credit card company).
They have recently been fined 150,000 USD for mis-representation
They have recently lost a class action law suit in the US with a large number of unhappy customers, they have agreed to pay out over $9 million dollars to these unhappy customers BUT they still won't admit to any wrong doing
They are not a bank of any description, if for any reasons they go tits up you have fook all come backs - you're money is gone! Unlike real banks.
There are hundreds of websites dedicated to warning people away from Paypal.
They have the highest charge-back ratio of any online Ecommerce company on the internet - world wide
They openly admit sellers have "limited ability" to comply with they ludicrous policies which "guarantee" against fraud.
Paypal have also been on Watchdog twice in the last two/three weeks with numerous complains.
Seriously, do yourself a favor and stick with cash, cheque, postal orders or bank transfer it’s a million times safer. If after all the warnings you still choose to use them the best advice I can give is to never leave any money with them you cannot afford to loose because chances are at some point you will do.
17-04-2006, 12:18 AM
#4
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This subject will always return a 50/50 opinion.
These two obviously don't like it
But i think (despite the problems i've had) its the easiest and best way to move money about online for goods.
I've never lost money from it, they shut me down for a week to see i was paying tax and not laundering money, but after that it was back to normal.
It whatever you're comfortable with really. If you plan on making small purchases on Ebay, just send to paypal from the bank what you know you will use. if you get stung, least it won't be thousands, because you're taking it easy.
These two obviously don't like it
But i think (despite the problems i've had) its the easiest and best way to move money about online for goods.I've never lost money from it, they shut me down for a week to see i was paying tax and not laundering money, but after that it was back to normal.
It whatever you're comfortable with really. If you plan on making small purchases on Ebay, just send to paypal from the bank what you know you will use. if you get stung, least it won't be thousands, because you're taking it easy.
17-04-2006, 12:25 AM
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Originally Posted by SPADGE
Never had a problem in years of using Paypal and will continue to do so 
Guess i have been lucky
Guess i have been lucky
50/50 already I've moved about £8k through there in the past year, and not lost a penny....infact, i beleive that because of paypal I've had more business on Ebay, as a lot of people will only use Paypal
17-04-2006, 11:59 AM
#7
hmm, some intresting onions there
for me, buying stuff on ebay i prefer to pay using paypal
but when it comes to selling, i always ask for cash/cheque as i've been stung for a fair few quid in the past
i think i will stick to what works and not try what i can't understand
all
for me, buying stuff on ebay i prefer to pay using paypal
but when it comes to selling, i always ask for cash/cheque as i've been stung for a fair few quid in the past
i think i will stick to what works and not try what i can't understand
all
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