Help with Paypal

Discussion in 'Archived Threads 2001-2004' started by NathanRT, Apr 24, 2002.

  1. NathanRT

    NathanRT Agent

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    I'm wanting to sell some speakers to a guy that wants to pay via credit card on paypal. Does anyone have any experience with this? I clicked the update now while on the site, but it didn't seem to change anything.

    Does it cost you to update to a Premier account? If so, how much? Can I have all the money deposited to my checking account? I'm not having much success with the help on their site. My internet connection is slow! This is seeming like a hassle.

    Thanks in advance for any help.

    Nathan
     
  2. John Garcia

    John Garcia Executive Producer

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    Used it dozens of times with no issues.
     
  3. Malcolm R

    Malcolm R Executive Producer

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    There is no fee for signing up for a Premier account, but Paypal will charge you a transaction fee for every incoming payment (EFT or CC).
    The only way to now avoid fees on Paypal is by direct EFT transfer from buyer to seller. They no longer process any credit card transactions for free and in order to accept any CC payments you HAVE to upgrade to Premier (which charges transaction fees for ALL payments).
    The fee is 2.9% + 30 cents, so for a $100 payment you will be charged a fee of $3.20.
    I've used Paypal for dozens of transactions and never had any problems. Yes, you can have the money sent directly to your bank account (that's actually the preferred method).
    You'll have to decide if the convenience is worth the fee.
     
  4. Patrick Sun

    Patrick Sun Studio Mogul

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    I'd rather pay the $1.50 fee for them to cut me a check each time rather than allow Paypal access to my checking account (to dump money into, and take money out of there by "mistake" - the risk is not worth the hassle of trying to get money back from Paypal if they mistakenly tap your checking account).
     
  5. John Garcia

    John Garcia Executive Producer

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    Only YOU can authorize transactions between any accounts and Paypal, so there will be no activity that happens without your approval, so any "mistakes" would only be made by you. Paypal functions more or less like any other online bank account. It's very easy to allow others to pay into it, and then I transfer the money to my account. I never leave a ballance of more than $20 in Paypal because it is not insured. I find it quite convenient for some things, but most transactions when I am purchasing, I just use a credit card directly.
     
  6. Ryan Wright

    Ryan Wright Screenwriter

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  7. Philip_G

    Philip_G Producer

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    correct, paypal can and will reverse transactions at will, if that means taking funds from your account, so be it. I've had it done to me
     
  8. John Garcia

    John Garcia Executive Producer

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    Well, sorry for your bad experiences, but I've been using them for almost 2 years now without issue.
     
  9. Philip_G

    Philip_G Producer

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  10. John Garcia

    John Garcia Executive Producer

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    I see. That sucks. Leave it to people to find a way to find loopholes and scam anything.
     
  11. Patrick Sun

    Patrick Sun Studio Mogul

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    It works like direct deposit from your workplace (if they offer that option). If your company finds out that they overpaid you via direct deposit, they can simply siphon off the overage from your checking account because you gave them permission to deposit money into the checking account.

    This goes the same with Paypal's depositing money into your checking account, they have the right to withdraw money when you open up that door for them. I choose to keep that door closed.

    No one should allow Paypal access to their checking account, it's simply not worth it when it hits the fan.
     
  12. Rachael B

    Rachael B Producer

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    For some jaw dropping reading go to :
    www.PaypalWarning.com
    The latest warnings from dissatisfied customers should convince anybody of the wisdom of not using Paypal. I quit a few months ago. There is atleast one class action lawsuit proceeding against them. They've broken banking laws depite the fact they aren't even a bank, atleast they say they aren't. They're under investigation in several states for offering banking services without proper certification. God knows how many fraud investigations thy are the target of? Their recent behavior has hit all-time lows even for them!
     

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