Category: Credit Card Processing
Sub Categories in Credit Card Processing:
»Merchant Accounts (22)
»3rd Party Processors (5)
Paypal Will Screw You - 2003-12-27
 |
| Reviewed by: Caerlisse Cirenne |
If you want proof of how Paypal will screw you, you need go no further than their user agreement, in which you sign away all your rights for the privelege of using their service. But if that is not enough for you, read the horror stories here:
http://www.paypalsucks.com
I was one of the many who was defrauded out of hundreds of dollars by their pathetic anti-fraud measures, and that's why I'm here searching for a new way to receive auction payments.
If you plan on using Paypal, be sure you can live with the user agreement, because they CAN and WILL exploit every loophole to keep your money, whether they have any justifiable reason to or not. Their service is great, cheap, and convenient...until you are one of the unlucky random ones whose account they decide to freeze, or you receive a payment from a stolen account, or have any other problem whatsoever (don't count on any help from customer service). |
 |
| paypal disadvantages (facts) - 2006-03-25
|
| Reviewed by: LImited Paypal customer |
some real facts of using paypal:whether you are a student selling or a Corporation (Business Owner)
1) They charge you to accept money 2.9%+0.30 per transaction, when you refund customers you pay that amount from your pocket
2) they have the right to withdraw from your paypal or ebay credit card on file or vice versa to pay any negative balances you have outstanding on any of the accounts ebay or paypal.
3) This company makes millions of dollars thier toll free number is hidden from public and not on the site ,the phone number on thier site is direct phone to customer service which is in omaha NE USA they want customers to call long distance and stay on the line for around 30 minutes to get thru to an agent which is of no help whatsoever.
2) contacting papal by phone is no use and a waste of time money and your energy,because in the end the customer service/resolution centre agents is of no help whatsoever they will tell keep on telling you to fax in more documentation and or you have to contact paypal review department via e-mail and they might take between 24-48 hours even more to respond to your e-mail .this is if you get the right answer or your issue resolved from the first e-mail
3) if you have a weird or foreign name you can get limited(frozen) for any reason.
4) they will keep on asking you to provide them with more information , receipts of posssision of products to be faxed ;or you your pricture with product to be mailed ,also receipts that product has been delivered to customer even if it was local pickup (if you sold items online also provide proof of delivery of service or good), photocopy of id's ,utility bills over and over and over again although you have submited them the first time and second time you got limited for a third time
5) by confirming your bank account you are waiving your right and giving paypal the rightand authorization to withdraw money from your bank account and once they initiate a withdrawal it cannot be stopped also if the first request came back with NSF thier system will try to withdraw funds from your bank 2 more times in 3 consecutive days
6) restoring a frozen account would take around 7-21 business days sometimes even more
7) if your account is taking more than 21business days and you have a good amount of money in paypal i say hire an attorney and file a suit once you hit them with one they will "reinvstigate the file and restore your account"
8) paypal buyer protection/paypal seller protection is a fraud in it self and helps fraudsters comit more fraud agaisnt sellers and buyers
9)also PAYPAL IS NOT A BANK so i would recomend you never trust giving them SSN or SIN(Canada)coz if you got limiited and they have it your doomed(black listed on thier system)when you try to open another account |
|
|
|
