Red Tape: CF and Paypal

[rveldman1]

I totally agree with wanderlust and refuse to use paypal. I sold a dinghy on ebay (I used to by and sell over $1,000 per month) that was in excellant shape. The buyer destroyed it, shredded it beyond recognition and claimed it was defective. PayPal promptly refunded my money to them inspite of pics of what was sent.
No, for me, PayPal is not an oprion that I would willingly chose.
BUT THE BUYERS.... I can't blame purchaser's choice in PayPal. It's a very safe option.
The experience also cured by eBay addiction..lol.. I refuse to use ebay also.

[redpointist]

Originally Posted by socaldmax

That is not how it works. If you sell something and the buyer sends you money, the money is held in escrow for a period, until it appears the buyer is satisfied. They can't go in an randomly take money from your account. Every withdrawal has been approved in advance by the paypal user.

Incorrect, that IS how it works...buyers have 45 days to initiate a dispute, and I've never had them hold funds in escrow for 45 days until that window passes. They might do that for high risk sellers but its not the norm. PayPal does infact have the technical and legal ability to take money from your bank account at any time. You give them that right when you link the accounts and give them all your bank info.


It used to be more common for them to withdraw money from bank accounts during disputes, but after a lot of bad press, they now generally prefer to just empty your paypal balance and make your PayPal balance go negative if you don't have enough. Any future payments are automatically confiscated and if you take too long to clear the balance, they send the bill collectors after you and damage your credit score. But they still retain the technical and legal ability to drain your bank account to resolve negative balances.


Infact, the default setting automatically takes your ebay fees directly from your bank account if your paypal balance has insufficient funds, and I've seen reports of bank overdraft fees being incurred because of this.

[Neil Collier]

I generally dont have a problem with P/P except for the fact that they dont alter their exchange rate on a daily basis .I just spent money on a course in Thailand quoted at 1 price but ended up as $39 dearer as P/P used a rate that was dearer than the quoted daily rate

[socaldmax]

Originally Posted by redpointist

Incorrect, that IS how it works...buyers have 45 days to initiate a dispute, and I've never had them hold funds in escrow for 45 days until that window passes. They might do that for high risk sellers but its not the norm. PayPal does infact have the technical and legal ability to take money from your bank account at any time. You give them that right when you link the accounts and give them all your bank info.


It used to be more common for them to withdraw money from bank accounts during disputes, but after a lot of bad press, they now generally prefer to just empty your paypal balance and make your PayPal balance go negative if you don't have enough. Any future payments are automatically confiscated and if you take too long to clear the balance, they send the bill collectors after you and damage your credit score. But they still retain the technical and legal ability to drain your bank account to resolve negative balances.


Infact, the default setting automatically takes your ebay fees directly from your bank account if your paypal balance has insufficient funds, and I've seen reports of bank overdraft fees being incurred because of this.

I guess the way to prevent that is not to have insufficient funds.

For those of you who sold something and the buyer tore it up and claimed it was defective...

it doesn't take a detective to figure out your real beef is with a dishonest buyer. I've been on both ends - dishonest buyers and dishonest sellers and I've always prevailed when I presented my case.

I'm positive it wasn't pure luck, that's for sure.

[svlamorocha]

Originally Posted by Neil Collier

I generally dont have a problem with P/P except for the fact that they dont alter their exchange rate on a daily basis .I just spent money on a course in Thailand quoted at 1 price but ended up as $39 dearer as P/P used a rate that was dearer than the quoted daily rate

It is not a out how frequently they update the exchange rates. It is that they "adjust" the exchange rate by about 3 per cent to their advantage.

Sent from my GT-I9192 using Cruisers Sailing Forum mobile app

[Muckle Flugga]

Originally Posted by socaldmax

Your ignorance is staggering. Perhaps if you just stopped imagining and actually listened, you'd learn something useful.

I tried to help you, but I'm done wasting my time.

Why thank you for your super helpful post. Curious that most of the netizens of the world appear to agree with my general position, isn't it? Bye.

[socaldmax]

Originally Posted by Muckle Flugga

Why thank you for your super helpful post. Curious that most of the netizens of the world appear to agree with my general position, isn't it? Bye.

Using that logic, most people don't own 55' sloops either.


They must all know something you don't.

[Janet H]

Originally Posted by Muckle Flugga

Why thank you for your super helpful post. Curious that most of the netizens of the world appear to agree with my general position, isn't it? Bye.

Thanks for raising the concern. Many folks dislike paypal but for an international userbase there are very few options actually available. We really appreciate forum supporters as they especially, help keep the lights on, but understand if you opt out because of your dislike for paypal.

We use Paypal to process credit cards and you will see the option to use a credit card in the upgrade screens.

We don't accept checks because we just don't have the infrastructure to do that - Cruisers Forum is a cyber entity. There is no brick and mortar "CF" and no one to open mail, process checks, etc.

In either case, we're glad your here...