posted on October 19, 2000 08:00:08 PM new
I notice a lot of AuctionWatch board members complaining how PayPal has lied to us, how PayPal has betrayed us, how PayPal has stolen from us. Well, I'm not going to argue against those things because they're all true. However, I would just like to inform you all that over the past few months I have succeeded in taking a lot of money from PayPal. I would estimate I have cost PayPal over $500 dollars in referral fees. I have conducted a full scale auction business on a personal account, taking in thousands every month and making PayPal pay for every cent of every credit card transaction! I have swept money out of my account regularly, and have made PayPal write me a check and pay 33 cents to mail it to my door! Not only that, but I will continue to give PayPal the shaft by using their service and not paying for it. How? Well, you see, I have lots of family members who have signed up for PayPal and do not use their accounts. So when I reach the 500 dollar limit on one account, I'll just jump over to another account and start using that one, and so on. It has been a pleasure playing PayPal for a bunch of fools. I will continue to do so in the future! Bye all.
posted on October 19, 2000 08:25:11 PM newI would estimate I have cost PayPal over $500 dollars in referral fees.
Boy you really got 'em there. You aquired 100 new customers for them and it cost them a whole $5 bucks per, when other ecommerce companies are paying $40+ per in "customer aquisition" costs through marketing.
Sounds to me like you have saved them about $3,500 bucks.
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All rights reserved. All wrongs reversed.
[ edited by amalgamated2000 on Oct 19, 2000 08:35 PM ]
posted on October 19, 2000 08:34:52 PM new
Well Amalgamated, I would argue that the people I referred were almost all customers. They do not make PayPal any money. Only sellers that upgrade do. I'm not upgrading, are you? I'm pretty sure that a mere fraction of the "3 million PayPal users" have upgraded. I don't think PayPal will ever recoup their referral bonus investment. Bottom line, I have only taken money from PayPal, and never given them anything. I think PayPal will stagnate and decline as other, more professional payment options step in to fill their place. I will continue to use them, however, as long as I am able to give them the SHAFT!
posted on October 19, 2000 08:39:39 PM new
Why not take a more straightforward, less risky approach? Recently I started thinking about all those unsuspecting people who opened a paypal account because of my recommendation and/or auction links. I've been feeling like a real heel for having gotten these people hooked up with such a questionable business entity.
I decided if I could recommend paypal, I could UNrecommend paypal. I've written or talked to those customers/friends that I correspond with and have enlightened them to the recent fiascos. Everyone I've contacted so far have either closed their accounts or have indicated their intentions to. Their reactions confirmed for me what I already suspected: 1) most users don't have a clue what paypal's been up to recently; and 2) when informed, they're none too happy.
posted on October 19, 2000 08:43:33 PM newI would argue that the people I referred were almost all customers
Quite possibly true. However, those are now the same people who are sending money to those paying merchant accounts. So it doesn't matter if those customers upgrade. As long as they continue using the service, Paypal is making money.
I have only taken money from PayPal, and never given them anything
Not true. You have given them 100 new customers. That's far, far more valuable than the 33 cents they spent on stamps or the 1.9% they have lost on your transactions.
As much as Paypal likes to play the victim and make sellers feel guilty for agreeing to use their service on the terms that it was offered, these people that you are "taking advantage of" have become multi-millionaires in the past few months, while you are scrambling around opening bogus accounts in order to save a whopping $10 on each one.
posted on October 19, 2000 08:43:40 PM new
SInce you have to Upgrade to get these $5 fees I wonder if you have only fooled your self.
Also keep in mind that all the familly members whos accounts you use up to the $500 limit they will have to claim these funds on there taxes do they know this ???
I'm pretty sure that a mere fraction of the "3 million PayPal users" have upgraded. I don't think PayPal will ever recoup their referral bonus investment. Bottom line, I have only taken money from PayPal, and never given them anything. I think PayPal will stagnate and decline as other, more professional payment options step in to fill their place. I will continue to use them, however, as long as I am able to give them the SHAFT!