vorlon4
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posted on December 20, 2000 09:56:54 AM new
I don't believe those clowns.
Just got an e-mail this morning "Effective today, December 20, 2000, MasterCard will no longer allow PayPal to support withdrawals to your MasterCard debit or credit card.
If you have already confirmed your MasterCard and wish to withdraw funds, we encourage you to register and confirm a Visa debit or credit card to complete your withdrawals."
No advance warning this was coming, nothing. What happens to the funds that are in transit between Paypal and MC? They're listed as completed by Paypal but not credited yet to my MC. Does MC reject these and send them back to Paypal to hold while I try and make alternate arrangements? if that is what happens- Paypal is gone- I don't need this crap.
Were they afraid if they had told us we'd stop taking Paypal payments (it's what I'd have done.) Talk about under handed.
At Christmas that'll take 2 weeks because are open about 3 days.
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kidsfeet
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posted on December 20, 2000 10:08:31 AM new
Sounds like the beginning of the end. Mastercard has probably dropped paypal as a merchant due to excessive chargebacks and/or too many fraudulent transactions.
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packer
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posted on December 20, 2000 10:13:30 AM new
Does this mean they will only accept VISA?
I wish they were more clear about this.
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edited for packer by packer!!
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Having a BAD HAIR DAY! ... 
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amalgamated2000
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posted on December 20, 2000 11:11:49 AM new
Sounds to me like you can still use your Mastercard to me. This is only withdrawing TO a Mastercard, right? I didn't even know that was possible...
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DONINPA
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posted on December 20, 2000 11:14:14 AM new
I didn't know you could do that either, but it is strange since the paypal debit card they offer is a mastercard.
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xlhgrl
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posted on December 20, 2000 11:26:37 AM new
That's kinda weird...I use my Mastercard for paypal and I haven't gotten an email like that.
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amalgamated2000
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posted on December 20, 2000 11:46:09 AM new
I just checked the Paypal site and I can't find anything about withdrawing funds to any credit card.
This would be a nice feature -- Paydirect, among others, does allow this.
Anyone know anything about being able to withdraw funds TO any credit card?
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magazine_guy
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posted on December 20, 2000 12:15:47 PM new
Hmmm.
Did you check the header to see if it was really from PayPal?
Did the letter include a link that takes you to a page to enter either your credit card info, or your PayPal ID and password? If so, is the URL for that link an actual PayPal URL, or something else that looks similar, but in fact is a page set up by scammers harvesting CC and password info?
S.
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vargas
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posted on December 20, 2000 12:20:03 PM new
I just checked the Paypal site and I can't find anything about withdrawing funds to any credit card.
Isn't that the only way international PayPal accountholders can withdraw funds?
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avaloncourt
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posted on December 20, 2000 12:26:11 PM new
I think this may have to do with the International people using PayPal. From what I've read Canada's banking rules do not allow for PayPal to deposit money into a Canadian bank account. So, I believe they came up with the alternative of crediting the amount into the user's credit card.
Now, it appears that MC will not allow this to happen. In one way I can see why MasterCard would take this stance. If someone is using a card with no or low balance then the credit onto the card would cause a surplus in the account in the form of an owed credit. MasterCard would then be required to pay interest on the excess funds. As I'm sure we're all aware, MasterCard isn't in the business of paying interest. 
I would be willing to bet this whole decision came down to Canada and its regulations. As far as I know, Visa cards are not issued in Canada so, unless the person has a US-based Visa card, then they wouldn't even have an option with Visa. This would effectively cut PayPal out of Canada.
[ edited by avaloncourt on Dec 20, 2000 12:30 PM ]
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vorlon4
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posted on December 20, 2000 10:16:21 PM new
Called Canadian MC (and withdrawing to a CC is the only way Paypal works for canadians- until Jan 7- when they offer access to Checking accounts- which ain't gonna happen. I'm not letting these characters any where near that. I could set up a separate account just for On-line and clean it out immediately- but I digress.)
ANYWAY- the customer service person i talked to found someone at Mastercard Canada to explain their version of what's really going on.
MC Canada will still accept the payments as credits. What Mastercard is in a snit about- is that when you register a CC they make 2, 2 cent payments into your CC account with 2 three digit codes. You use the 2 codes to confirm your CC actually works with Paypal.
However Paypal never bothered to check with Mastercard if this is OK and they were getting all these phone calls from Customers asking for the 3 digit codes with their Paypal credits. Mastercard went "What the F*** and told Paypal "This ends RFN."
Now if you check Paypal's ever changing user agreement- they don't send a credit they DEBIT your card $1 and IF you call your bank to get the codes they'll "suspend you forever " (exact quote.) Sounds like damage control and closing the door after the horse left.
You have to wait for your bank statement or use on-line banking with your CC. Which is what I did.
It APPEARS it's a badly worded E-mail or my CC company has the story wrong or there's something else going on. Neither PayPAl or Damon have botherered to respond to my queries. I reread the e-mail and it says distinctly no more withdrawls to Credit card.
(They will give you a $1 credit after your CC is confirmed.)
I really get the feeling these jokers don't have a clue what they're doing. It's really too bad so many of my customers like Paypal.
[ edited by vorlon4 on Dec 20, 2000 10:19 PM ]
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sg52
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posted on December 20, 2000 10:32:29 PM new
. MasterCard would then be required to pay interest on the excess funds
Not so.
A while back my credit card company accidentally got a check for $10,xxx rather than 1,xxx to pay the bill.
They didn't pay a single dime of interest. They never promised such.
sg52
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uaru
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posted on December 20, 2000 10:45:09 PM new
Anyone know anything about being able to withdraw funds TO any credit card?
I believe only international users can credit funds to their credit card. Looks like they'll only be able to credit those funds to Visa cards now.
Someone posted the PayPal email (apparently issued only to international users) all upset thinking PayPal would no longer accept MasterCard. They completely overlooked the section stating:
Please note that your ability to send funds with your confirmed MasterCard debit or credit card will be unaffected. You can still continue to send funds without interruption.
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avaloncourt
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posted on December 20, 2000 11:07:44 PM new
sg52 .. I have had interest paid to me twice through two different cards which had overpayment due a zero balance with a vendor credit being applied.
In both cases I contacted the credit card issuer and asked what their procedure was for having a net credit against the account. I was told that they could either issue a check for the balance or I could leave it in the account if I was planning on charging something in the near future and would credit to the payment. BOTH companies stated they were required by federal law to apply interest to the credit amount until it was either removed or debited.
This same control applies to utility companies. If you have a net credit remaining within your account they must provide interest for the period the funds remain there. I have had this happen also.
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vorlon4
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posted on December 21, 2000 10:10:47 AM new
The plot thickens, here's what MC Canada says:
As PalPal is not one of Bank of Montreal's MasterCard merchant, your
inquiry should be directed to PalPal.
PalPal can explain to you why their Bank has chosen to suspend or stop them
from processing/accepting MasterCard. This was certainly not a decision
made by BMO MasterCard.
For your information, every merchant who decides to accept MasterCard signs
a merchant agreement with a MasterCard issuing institution, where their
transactions are deposited and processed through. Therefore, it is only the
PalPal or their Bank that can explain what happened."
Paypal of course has not bothered to respond here or to any of my e-mails.
I will no longer be accepting PAypal.
[ edited by vorlon4 on Dec 21, 2000 09:29 PM ]
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RB
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posted on December 21, 2000 01:48:20 PM new
"It's really too bad so many of my customers like Paypal."
You've gotta find some smarter customers ...
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vorlon4
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posted on December 21, 2000 03:13:51 PM new
Can't say I disagree with ya RB, but you take 'em where you find 'em. You can't pick and choose your buyers ( well you can but it's not real smart to alienate any clientele- except for maybe deadbeats.....)
Not Vorlon4 on Ebay (but would like to be)
BTW RB what part of the great white north are you in? With that -31 crack recently- I figure you must be in my part of the world.
(The Prairies- the part of the country Johnny Cretin hasn't figured out yet actually exists)
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cassiescloset
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posted on December 21, 2000 04:04:59 PM new
I closed my account last week and today I received a check for $20 from Paypal. I wonder what for--maybe referrals they didn't pay me.
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vargas
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posted on December 21, 2000 04:15:34 PM new
Hush money?
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molsongolden1
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posted on December 21, 2000 04:59:26 PM new
TO THE PERSON WHO SAID CANADIANS ARE NOT ISSUED VISA. HELLO!!!! WHERE DO YOU THINK WE LIVE???????
WE HAVE ALL THE MAJOR CREDIT CARDS THAT EXIST.
I HAD A DEPOSIT TWO WEEKS AGO INTO PAYPAL BY MISTAKE BY A BUYER AND THROUGH NUMEROUS EMAILS THEY FINALLY GOT BACK TO ME WITH DIRECTIONS.
THEY WOULD CREDIT MY VISA THE NEXT DAY.
WELL TWO WEEKS LATER I AM STILL WAITING AND NOW THEY ARE NOT EVEN ACKNOWLEDGING E-MAILS AS THEY DID TWO WEEKS AGO.
I WILL BE GOING TO BILLPOINT.
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vorlon4
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posted on December 21, 2000 09:20:25 PM new
They have yet to answer my several e-mails about what happens to the funds currently in transit between Paypal and my bank.
Bank says check with Paypal- Paypal says nothing (predictably). Knowing Paypal they'll hold the $100 or so hostage until I give them another CC.
NOT Vorlon4 on Ebay (but would like to be)
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sg52
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posted on December 21, 2000 10:31:17 PM new
If you have a net credit remaining within your account they must provide interest for the period the funds remain there. I have had this happen also.
All I can observer avaloncourt is that we have radically different experiences.
I have a summer cabin. We keep the power "on" year around. The monthly charge for no usage has gone up over the years, and stands at about $7.50. When I pay, I send them $100. Again, I've never been paid a dime in interest. They just chew through the $100 and eventually it's gone and I send another hundred.
sg52
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