posted on September 3, 2000 12:21:50 PM new
Well, I've gotten 3 responses so far. I don't think they understand the question. I've phrased it 3 different ways and I'm still getting cut and paste answers that have nothing to do with my question. But, it's looking more and more like you cannot pay for your featured auctions bill with Yahoo's own PayDirect.
I think they need to re-think that. It looks pretty bad when they can't accept their own service.
posted on September 3, 2000 02:25:09 PM new
BUMMER. But I'll email them with the same suggestion. If they keep hearing it from enough different sellers perhaps they'll consider changing their minds. I want to feature more auctions, and I'd sure appreciate being able to pay using my PAyDirect balance instead of having my credit card charged.
posted on September 3, 2000 03:47:59 PM new
Thanks for your support CAgirrl! I really appreciate it!
I wish I had known that Yahoo didn't accept their own PayDirect before I signed up for it. If Yahoo ain't willing to trust PayDirect, I don't feel safe using it either, ya know?
posted on September 3, 2000 03:58:25 PM new
but !!!!!! big but here, pay direct is part of there billpay service if you sign up for billpay your bill with them becomes one of the bills they will pay for you and you can fund your billpay account from paydirect
now you know that rest of the story there is no charge to use paydirect but there is a monthly fee to use billpay.
posted on September 3, 2000 04:19:45 PM new
If THAT's the case, I'm done using any of their "featured" options. It wasn't making a bit of difference for me anyway.
That's nuts! Paying THEM to be able to Pay THEM! And how much is this monthly fee?
Either I'm losing my mind here or Yahoo is and since it can't be Yahoo, it must be me. Please call 911 for ME asap!
posted on September 3, 2000 04:35:28 PM new
I think that you all may be overlooking one very important thing. How could Yahoo pay themselves with money from an account they have control over?
If you get so-called 'free' checks from your credit card company to spend as you please, (with loads of disclaimers, and 'cash transaction' fees). You will notice in all of the small print, you can NOT use these checks to pay the same credit card company the bill that YOU owe them. Why, you are using their money to pay your bill, that's why. Even though you WILL pay for it, with fees, etc.
What you are trying to do using Yahoo! PayDirect, to pay Yahoo! for features, is a conflict of interest, and a booking nightmare. I'm not even sure this wouldn't be a violation of some federal banking regulations. You put money in your account, which they already have control over, and ask them to take it out of that account, and give it back to themselves.
Imagine if that was allowed, how banks could mess with your money. I know, you are giving them permission to do it. But, what if you didn't, could you prove it in court if you had to? There is certainly a reason they don't allow this, and it's more than likely, against the law.
posted on September 3, 2000 05:00:02 PM new
The money that is in my PayDirect account was put there by my buyers! I didn't put it there! Yahoo didn't put it there! I am not trying to use Yahoo's money to pay Yahoo.
And, if it's such a conflict of interest, why are they allowing it if you PAY them to do it?
posted on September 3, 2000 05:01:31 PM new
mint4you -
I must completely disagree with you. You cannot pay a credit card bill with convenience checks from that credit card because you would be borrowing money from them to pay them. This situation is completely different. The money in your PayDirect account is YOUR money, not Yahoo's. This situation would be more like having your mortgage with the same bank you have your checking account at and asking the bank to draft your checking account to pay make your mortgage payment every month. Nothing illegal about it and it is done every day, and most banks actually prefer it!
posted on September 3, 2000 05:21:29 PM new
I still say, that federal regulations prevent such transactions within their system from taking place. Yahoo! does not want some federal accountant looking at their records and seeing a conflict of interest. PayDirect is totally different than banking systems requirements, and what is acceptable for them to do.
posted on September 3, 2000 05:38:46 PM new
"I still say, that federal regulations prevent such transactions within their system from taking place. Yahoo! does not want some federal accountant looking at their records and seeing a conflict of interest. PayDirect is totally different than banking systems requirements, and what is acceptable for them to do."
From the Yahoo PayDirect privacy policy:
"Your Yahoo! PayDirect account is maintained with CIBC National Bank and all fund transfers are provided by the Bank."
First, PayDirect is not administered by Yahoo and Yahoo has not control over the account, therefore I don't see how there could be a confict of interest.
Second, with the accounts being maintained by a bank, I don't see how they could possibly be exempt from all federal banking regulations.
Third, even if PayDirect were exempt from all banking regulations, they would then be like PayPal...COMPLETELY UNREGULATED.
posted on September 3, 2000 06:30:31 PM new
You said "PayDirect is totally different than banking systems requirements, and what is acceptable for them to do." And banks do it every day!
posted on September 3, 2000 06:40:20 PM new
I am feeling Amazon dejavue.
A auction site that was running quite well and perking right along and then it decides to self-destruct internally. At this rate, egreed will never have to worry.
And mint4you, you are so far wrong on this issue, you are long gone wrong. How do you think banks deduct their monthly fees straight from the account you have with them?
posted on September 3, 2000 06:49:07 PM new
heygrape -
That was exactly my first thought...bid for placement, then jumbled listings, etc. It almost seems like they are trying to duplicate an idea that didn't work...guess I'll never understand.
posted on September 3, 2000 10:51:27 PM new
Hey, Grapey,
I LIKE YOUR BATHTUB!!!!!! (Music was a little too "elevator" for me, though---I prefer the original!)
Lest you be JEALOUS of me, I want you to know that I DON'T HAVE A SWIMMING POOL...I go to the PUBLIC POOL just like all the rest of the not-quite-poor-enough-for-welfare Americans.
If I could AFFORD a swimming pool, why would I waste my time selling my piddling wares on Yahoo????????????????
posted on September 4, 2000 11:57:24 PM new
I get what you're saying, Grapey, my customers put the money in my PAyDirect account as well. NOT Yahoo. There are 2 other ways to fund PayDirect payments, aside from having your money put there by your customers. #1- take funds from your credit card. This should not be a problem as far as Yahoo is concerned since when you make a non-PayDirect payment to Yahoo it is through your wallet which charges your credit card. (At least I think so.) #2- funds withdrawn directly from your bank account. This should not pose a problem either.
If Yahoo themselves do Not accept PayDirect, should you? Think about it. :
