posted on October 11, 2001 01:53:37 AM
Since I was once again listing a bunch of auctions I took another look at Paypal as a payment source for my auctions.
I, once again, came away with the same reaction I always do;
For the life of me I cannot figure out why so many fellow Ebay sellers give such fluid access to their bank accounts!
I don't know what I expected to see this last time I checked in with Paypal, perhaps I had forgotten why I never bothered using them when selling before--until I read again the cozy arrangment that they have with your checking account!
Since I deal in older, more rare collectibles, the payment source isn't really the deciding factor for collectors, since the varying conditions of these older items is really the rule of thumb typically used.
The idea of Paypal having access to my account gives me the creeps. I guess others don't mind throwing caution to the wind, but I choose to have full control of my transactions (and bank account)!
posted on October 11, 2001 02:58:50 AMFor the life of me I cannot figure out why so many fellow Ebay sellers give such fluid access to their bank accounts!
Try making a new seller's account on eBay. You'll notice there's new info they require, and have for many months.
posted on October 11, 2001 04:58:43 AM
I just have a second bank account (no frills no fees) that is connected to my Paypal account. When I make a transfer from paypal, I then transfer it from that acount to my main account.
posted on October 11, 2001 08:00:51 AM
I've had no problems with Paypal and my Bank Account. (so far, knock on wood).
But Geico Insurance Company just stole $45.00 from my bank account and tried to deny they had my money. It took a week to even get them to look into it. They forced me to jump through hoops to prove they swiped my money... I had to get the bank to contact them. I even had to threaten legal action.
Geico still tells me that this is impossible, but now admit the money was taken from my account and that I did not ask for it to happen..
They won't admit it was a glitch but cannot explain how it happened.
This bounced my account a few times, the folks at Geico say the are sending me a check for all bounced fees as well as the original $45.00. But they still claim no wrong doing...sigh
I am getting afraid of online transactions, if Geico's "Glitch" can happen without any consent from me...How many times will this happen with other companies?
posted on October 11, 2001 08:20:21 AM
it is not mandatory to use paypal,if you sell rare collectibles,you can accept cashier check.
or if you can accept cc in your shop,use that.
i accept cc in my shop and i have discussed with my cc processor what kind of protection do i have against fraudulent charges,basically very little.
i sell collectibles and most folks buy one or two,may be three at a time,if they buy a lot,watch out.
posted on October 11, 2001 09:24:07 AM
Hi bookart,
Providing us with your bank account does not give us unilateral access to your account---from our terms of use-
PayPal will never make electronic transfers from your bank account without your explicit permission. Furthermore, PayPal provides you protection against unauthorized withdrawals from your bank account under the terms of Article III below.
All transactions, be they to or from your bank account, require the user requesting the transaction.
posted on October 13, 2001 10:31:37 AM
There are MANY banks, both online and off, who offer basic checking accounts (many with bank check cards) for free. If you do ANY online business - with any of the unregulated third party payment service providers (PayPal, Billpoint, Pay Direct etc) you absolutely MUST get yourself an account isolated and separate from your normal banking accounts to use with these online services. Now that ebaY requires banking info to sell, the same applies to them. It is SO easy to do and SUCH an essential protection. There is no reason to put your entire financial health at risk of some unregulated company.
Search Google for online banks - check out the free stuff at your local banks but PLEASE do this simple, painless and extremely effective protective action.
It is not a matter of trust or anything else, it is a matter of common sense and using due prudence. Do yourself and your family a favor and take care of this TODAY!!!
Transfer your money regularly, from your payment service accounts to your "separate" account, and then transfer the money from the separate account to your "real" account as you see fit.
posted on October 28, 2001 03:23:47 PM
> Providing us with your bank account does not give us unilateral access to your
> account---from our terms of use-
> PayPal will never make electronic transfers from your bank account without
> your explicit permission. Furthermore, PayPal provides you protection against
> unauthorized withdrawals from your bank account under the terms of Article III
> below.
> "All transactions, be they to or from your bank account, require the user requesting
> the transaction."
What about this new clause from the latest version of PayPal's Terms of Use Agreement?
"If you open a Premier or Business Account after October 11, 2001, you authorize PayPal to debit your bank account linked to that PayPal account for the amount that you owe PayPal on transactions which were not covered by the Seller Protection Policy and which were not recoverable from your PayPal balance. "
- Dan
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This message has been modified from its original version. It has been formatted to fit your brain.
posted on October 28, 2001 04:03:00 PM
Paypal offers better protection against charge backs then my B&M account. MY only "gripe" with paypal is the lack of customer service. I would LOVE the option to refund a buyers money (the ONLY thing I liked about billpoint)....
posted on October 28, 2001 04:13:44 PM
pay pal customer service !!!!
I am having a dispute with a buyer. we worked the problems out last week but he had filed a complaint with pay pal
pay pal has sent me three notices of complaint I got the third and final notice today
Each notice contains a link and the notice tells me I can only respond thru this link. all other corespondence will be ignored.
Great but this link doesn't work , It takes me to pay pal and comes up with a error code
Now thanks to this board I was able to email damon@ paypal and he is helping me work it out but what if I didn't use this board?
.
spock here...... TILL NOV 1 ANYWAY
Live long and Prosper
posted on October 28, 2001 09:51:26 PM
mrgroup and scrabblegod,
I think I understand what you are saying. Please correct me if I'm wrong.
Paypal should omly be associated with account # 1. After the sale is completed, and I have the funds in account # 1, I should transfer the funds into account # 2. This account is not associated with paypal, therefore they would not have access to it. Is this correct?
Currently, I have paypal inserting funds into my Credit Union checking account. Are you saying after this is done, I should move the funds into my Credit Union savings account. The only account they are allowed to transact with is my CU checking.
I've been a paypal user since they first come on the scene.
Since I haven't been doing much selling I've been doing a considerable amount of buying.
After depleting what was in my account already, it was real nice to be able to pay with my checking account without having to write a check/sending it and waiting for it to clear.
posted on October 29, 2001 08:07:07 AM
I don't see any contradiction..... If you open an account after 10/11 you are giving permisssion.....
Juggling money between accounts, will not protect you from a chargeback which becomes a legal debt you are obligated to pay. It is subject to any and all leagal collection actions, including adding it to your credit report, and turning it over to a collection agency. This is not unique to PayPal, but applicable to all the payment services similar to PayPal, Billpoint, and Pay Direct.
[ edited by Coonr on Oct 29, 2001 03:08 PM ]
posted on October 29, 2001 09:33:24 PM
(crossposted from another thread)
The situation with bank account debits absolutely cries out for federal legislation establishing ground rules and consumer control over access. People are right to want to do anything that errs to the side of caution without that. The needed protections simply aren't there, and some insurance policy is not a subsitiute for a statutory protection like the $50 loss limit on credit cards. The consumer has far more leverage in the latter.
PayPal has always been a market-share grab in search of a business model, and I'm sure they'd love to drop credit/debit card transactions from their site altogether if they could. The root problem of fees for credit/debit cards being too high is out of PayPal's control, but trying to end-run it with these cheaper direct debits treads over consumers that could be allied with them if they tried a different approach.
Short of an outright boycott, the best defensive measure might be to set up with some Internet-only bank like Netbank with little or no minimum-balance requirement to avoid fees and use that. Ditto with eBay. But let your congressman know.
posted on October 30, 2001 05:23:01 AMthe best defensive measure might be to set up with some Internet-only bank like Netbank with little or no minimum-balance requirement to avoid fees and use that. Ditto with eBay.
That does not protect you from liablitly in the event of a chargeback. A charge back is a legal debt you are obligate to pay.
posted on October 30, 2001 06:53:15 AM
chargeback is a cost factor when you decide to do business accepting cc .
you can minimise its risk by asking for cashier check,wire transfer or money order,cash for certain transactions which involve large amount or you dont feel comfortable accepting cc payment.
the choice is yours.
posted on October 30, 2001 07:07:11 AMthe best defensive measure might be to set up with some Internet-only bank like Netbank with little or no minimum-balance requirement to avoid fees and use that. Ditto with eBay.
That does not protect you from liablitly in the event of a chargeback. A charge back is a legal debt you are obligate to pay.
Coonr has pointed out a drawback for sellers using PayPal. PayPal has previously posted that they process chargebacks as they come through, and posts from users indicate that, unlike merchant account providers, PayPal does not make a regular practice of attempting a defense of the seller in these chargebacks.
So... you may end up with PayPal considering that you have a debt due to their automatic processing of a chargeback that you could have successfully defended yourself against had you been using a merchant account rather than PayPal.
Again, thanks to Coonr for pointing this out, and to AW for making it possible to allow this important information to be made available.
posted on October 30, 2001 09:42:44 AM
mrpotatoheadd,
I shall thank you not to put words in my mouth. I posted nothing similar to what you claim.
Furthermore, I challenge you to defend your remarks which state,
PayPal does not make a regular practice of attempting a defense of the seller in these chargebacks.
So... you may end up with PayPal considering that you have a debt due to their automatic processing of a chargeback that you could have successfully defended yourself against had you been using a merchant account rather than PayPal.
posted on October 30, 2001 09:46:34 AM
I will however post that PayPal does not approve or disapprove any chargeback. Neither does Billpoint or any merchant account provider. That is done by the institution that issued the buyers credit card.
Perhaps it would benefit you to become more familair with credit card processing rules and laws.
[ edited by Coonr on Oct 30, 2001 09:47 AM ]
posted on October 30, 2001 10:44:21 AM
[I]I will however post that PayPal does not approve or disapprove any chargeback.
Neither does Billpoint or any merchant account provider. That is done by the
institution that issued the buyers credit card.[/i]
True. But at least a reputable merchant account provider will provide clear guidelines for disputing a chargeback and will assist a merchant in filing a dispute (right up to requesting arbitration through VISA or Mastercard).
posted on October 30, 2001 11:24:38 AMI posted nothing similar to what you claim.
You posted that keeping an account with little or no minimum-balance does not protect you from liablitly in the event of a chargeback.
I posted that, because of liabilitly in the event of a chargeback, accepting PayPal payments can have its drawbacks for sellers.
You pointed out the liability, not me- I only commented on it.
I challenge you to defend your remarks
Challenge all you like- I'm not here to do your research for you. That information has been posted numerous times, in more than one place. The fact that I am not spoonfeeding it to you does not mean that it doesn't exist.
posted on October 30, 2001 03:42:52 PM
mrpotatoheadd, you posted,
Coonr has pointed out a drawback for sellers using PayPal. PayPal has previously posted that they process chargebacks as they come through, and posts from users indicate that, unlike merchant account providers, PayPal does not make a regular practice of attempting a defense of the seller in these chargebacks.
I did not post a drawback to using PayPal as you claim, I posted a drawback to accepting ANY credit card payments. Your post implys I stated PayPal processes chargebacks without attempting any defense. I made no such post.
