posted on February 25, 2001 09:31:39 AM
What is going on with PayPal and their international users? I have friends outside the US and they are informed that PayPal will no longer send money from their PP account to their Visa card. They will however transfer funds to a bank account. Is this another case of 'let's suck them in and then change the rules,' or are the credit card companies waking up and starting to think about getting into the game themselves? Other than BidPay and PP are there anyother online services that international eBay buyers and sellers able to use? Here is the notice:
Dear PayPal Member,
When PayPal expanded its service to non-US residents in November, we broke new ground by allowing our members to withdraw funds from their PayPal account and deposit them
>to their VISA card. The process of depositing funds to a credit card was a new one and something that the credit card associations are just now beginning to explore. VISA and MasterCard are currently developing programs to permit fund transfers to their cards, and PayPal is discussing with them ways to participate so that our
members can transfer funds to their cards in a manner approved by both associations. However, until such a program is operational we will be suspending the practice of withdrawing funds from PayPal accounts and depositing them to VISA cards starting 7 March 2001.
We are pleased to inform you, however, that after this policy becomes effective, we will also be introducing the ability for members from Australia to register a local bank account in order to withdraw funds. We will
send you additional information about withdrawing money from your PayPal account into your bank account as soon as this functionality becomes available. As always, you will still be able to register a US bank account with your PayPal account, as well.
We apologize for the inconvenience this change in our VISA withdrawal policy may cause. Due to this inconvenience, effective today PayPal will **NO LONGER CHARGE FEES** on withdrawals from PayPal accounts and
deposits to international VISA cards. We recommend that you login to PayPal at your earliest convenience and review your account status; if you have a balance, please withdraw it to your VISA card.
If you have registered a VISA card with PayPal and have not withdrawn your entire PayPal account balance by 7 March 2001, PayPal will automatically withdraw the entire
amount to your VISA card. No withdrawal fees will be charged.
Please note that this new VISA withdrawal policy will not affect your ability to use your VISA card to pay for PayPal payments when you send money or shop at the 3 million eBay (tm) auctions that accept PayPal.
Again, we apologize for any inconvenience this change might cause you. Thank you for helping to make PayPal the world's #1 online payment service.
posted on February 25, 2001 02:15:02 PM
I'm a Canadian seller and got that email too. I think that the card companies are just getting a bit skittish about it. Maybe they don't like people having credits on their cards. They make a better living with balances
