posted on September 15, 2000 10:04:13 PM
I haven't gotten the "request" from paypal to upgrade. Only 2 or so a month of my buyers have used paypal, perhaps that's why.
I also accept x.com, only one buyer has paid this way. I guess because x.com is a checking account less buyers use it.
Did I read correctly? Did someone say they got a rebate of 1% when they paid, with paypal, to a seller that had a premier account? Is this the norm? If so then perhaps this can be used in auction description, "Get a 1% rebate if payment is made to my paypal premier account."...hmmm...
I will stick with paypal until I get the "request" to upgrade.
posted on September 15, 2000 11:00:54 PM
My auctions and emails no longer promote PAYPAL. I have cleaned out my account with them and never verified myself, nor did I ever 'update'. However, I have not closed my account with them and do not intend to. There is a little voice in my head that tells me people will listen to what I have to say about the way they have LIED to me, if I am still an account holder.
We'll see.
noteye
P.S. I am just sick about falling for this one. I truly believed they would be HONEST and not LIE to us.
posted on September 15, 2000 11:28:58 PM
I have eliminated PayPal logos in my auctions and PayPal references in all my e-mails. Received my first Yahoo PayDirect and was very pleased. Received my first Bank One e-mail money; they accidently credited my credit card but quickly reversed it. There are competitors and barriers to entry seem low so I think PayPal has hurt itself, we will only know in the long run how much.
In the short-term, I do think the owner who I think is a 26 year old South African and his investors will make hundreds of millions of dollars when they take this thing public, which in a large part is owed to us since the most valuable thing PayPal will possess in Wall Street's eyes are the number of customers and we attracted them. How many of us would have joined the PayPal army if we knew the truth, not many I bet.
Will I close my account, will I have to keep it open for awhile to ensure no payments are coming in, but I probably will. Worst case, I will keep it open as a last resort. I think many would be just as happy with some of the other services, especially if they knew what transpired here. And don't forget you can request a lower fee structure with companies such as Billpoint.
I know many will still use PayPal but as I said once before, if your bank acted like this would you keep your bank even if you knew you would receive a slightly lower interest rate on your money at the bank next door. I think many people would move their money next door even if there is some short-term inconvenience.
In a way, I do give the owner some credit, he not only trumped us, he trumped some of the largest finaical institutions in the country. But then again, those companies are legitimate and have to follow banking laws and regulations. I am hopeful that some of us will file complaints, contact the Banking Committees, and contact the media so you never know what could happen.
[ edited by topprospects on Sep 15, 2000 11:31 PM ]
posted on September 16, 2000 12:12:08 AM
I am in the process of closing my account. I have pulled the PayPal line from my default infromation and my winning bid notification. When the auctions that have the paypal logo in them close, and the bidder informs me how they wish to pay, and all my money is in my bank, then I will close out my account. I have inserted a new line into my new listing and new e-mails about not accepting PayPal and why.
Here is Why
1. I am a seller but I do not consider myself a business, (and neither does the IRS I believe). I do this part-time in my spare-time. I started the on-line auctions only to make extra income so I do not have to work 2 jobs (a full time job and part-time job).
2. I do not want to pass the cost on to my customers. I buy cheap so I can sell cheap.
3. I do not like paying for services that I do not need, want, or available. All I wanted was a cheap way to process credit cards for my auctions.
4. I do not like the way that they handled this whole affair. And, I do not like the way they are ignoring the problem. It seems to me that they are just saying !@#$ #$% (insert your own words).
So.........I say !@#$ Paypal. I survived on checks and money orders before and I will again.
posted on September 16, 2000 03:05:17 AM
bargindude;
If you buy for resale to make "extra income", the IRS has an extra form just for you (Schedule C) "Profit or Loss From Business".
If you don't use a business name, PayPal has no way of knowing wether or not you file a Schedule C form with you 1040. So I assume they will classify accounts based on the number of payments received.
I don't plan on closing my account, because the percentage of payments I'm receiving via PayPal is increasing. But if I have to pay 1.9%, I don't want to encourage bidders to sign up and use PayPal, so I'll drop their logo from my auction listings.
posted on September 16, 2000 04:35:31 AM
I just removed the PayPal logo from my preferences so no further auctions will list this payment as an option. Most of my items sell for $10 or less. Their fees take too much profit over the long haul. Shame on PayPal! I'm cancelling my account once my transactions are complete.
