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View Full Version : Another way PAYPAL Cheats You



BigBoy1
06-29-2013, 03:40 AM
I sold a piece of equipment and was paid via PAYPAL. Now that I want to get my money from my PAYPAL account, I'm told they will allow me to withdrawn a maximum of only $500 a month! It is going to take me 5 months to get my money. I'm sure PAYPAL will give me interest on my money they are holding!

Jaakko Fagerlund
06-29-2013, 03:49 AM
Upgrade your account to get rid of the limits. I have no such limits, haven't paid anything extra for it.

What you describe is not cheating, it actually reads in the contract and/or user agreement you have accepted when signing up.

beanbag
06-29-2013, 05:22 AM
"verify" your account by giving away your precious social security number, and that increases your withdrawl limit. Or a better idea, send your balance to my paypal account, and I will cut you a check in return.

JoeBean
06-29-2013, 06:51 AM
They do this because Paypal has been targeted regularly by criminal activity, where they're using it to launder money. They put these limits in place to make it more difficult to anonymously launder a lot of money. As mentioned, this is well documented, but most people fail to read any contracts anymore since lawyers have started putting contracts and agreements on everything.

Dr Stan
06-29-2013, 07:01 AM
Just another reason I've refused to conduct business via PayPal for years.

flylo
06-29-2013, 07:43 AM
I've never given a SS# & am verified.

GEP
06-29-2013, 08:00 AM
When i set up my paypal i used a bank account,it took a few days because paypal made small deposits. Thats the way i got verified never gave them my SS
I can with draw any amount

Jaakko Fagerlund
06-29-2013, 09:01 AM
What they needed from me was a copy of a drivers license or some else picture ID. Sure it contains my personal identification number (kind of like social security number), but what can they do with it? Call my cell phone provider and close my account? :D It has no use nor it is used as a reliable positive identification anywhere.

vpt
06-29-2013, 09:43 AM
Just another reason I've refused to conduct business via PayPal for years.



I as well. I have gotten by just fine without paypal. I have also NOT missed out on a sale because of not having paypal, people just find another way to pay if they want your stuff.

JoeLee
06-29-2013, 10:03 AM
They do this because Paypal has been targeted regularly by criminal activity, where they're using it to launder money. They put these limits in place to make it more difficult to anonymously launder a lot of money. As mentioned, this is well documented, but most people fail to read any contracts anymore since lawyers have started putting contracts and agreements on everything.
Have you ever tried reading any of those contracts???? Several pages of microscopic print, let alone trying to understand any of it.
If you don't check the box at the bottom saying that you agree to the terms you don't get in. So most people just check the box and never read all the double talk.

JL.................

Zero_Divide
06-29-2013, 10:32 AM
I am conducting smal business with paypal. Never had any problems.
They just take their cut and I ll be on my way.

I had my account verified by attaching my bank card to it, it also took several days.
I am quite eased with PP actually.

People sign up for it thinking they will be able to move thousands without problems, but I think its more for smallish transactions. Once I get around 300$ there I widthraw right away.
So I never got to test 500$ limit.

lakeside53
06-29-2013, 11:27 AM
Yep, as most of the others have said - non-issue. Read your user agreement and it's all spelled out and.. not in double talk or super fine print, but in plain English. Even before the user agreement, your were given the choice of a verified or non-verified account and told you the account restrictions at the time you signed up. Read the "help" section on paypal.com.

To get verified, link a small (even tiny) bank account to them and your problem goes away. You can move every piece of your money with a couple of key clicks.


And yes, they will pay you interest on cash balances, BUT NOT if you don't give them a SS number or Tax ID so they can provide you and the IRS with a 1099 each year.

Try opening a bank account with Bank of America today... you will be providing much more ID than Paypal requires for your personal non-verified account. All paypal required was a name, phone and address; no DL, no SS/TIN, no "2 acceptable forms of photo ID".

Chrisnj
06-29-2013, 11:47 AM
Yep, as most of the others have said - non-issue. Read your user agreement and it's all spelled out and.. not in double talk or super fine print, but in plain English. Even before the user agreement, your were given the choice of a verified or non-verified account and told you the account restrictions at the time you signed up. Read the "help" section on paypal.com.

To get verified, link a small (even tiny) bank account to them and your problem goes away. You can move every piece of your money with a couple of key clicks.


And yes, they will pay you interest on cash balances, BUT NOT if you don't give them a SS number or Tax ID so they can provide you and the IRS with a 1099 each year.

Try opening a bank account with Bank of America today... you will be providing much more ID than Paypal requires for your personal non-verified account. All paypal required was a name, phone and address; no DL, no SS/TIN, no "2 acceptable forms of photo ID".

You don't have to give your ssi #. DON'T give them you ssi #. I had to call.them with the and give them some code which was "attached" to a small deposit they made in your account. Something like that.

But ebay owns Gaypal. I was late shipping a few items, not much, or somebody complained about something else, and now I'm supposed to wait 21 before I can withdraw my money. So I just specify Skrill as the one accepted electronic payment method. No body has Skrill, so if they want the item enough they contact you asking if they can send a check or mo. Some people walk away, but they left me with no alternative. No warnings or anything. Just smacked me upside the head one day.

lakeside53
06-29-2013, 12:10 PM
As I said.. you DO NOT have to give them your SS or TIN unless you want interest. If you don't want interest, then you can have a verified account with just the bank deposit numbers they made.

Jaakko Fagerlund
06-29-2013, 04:00 PM
I was late shipping a few items, not much, or somebody complained about something else, and now I'm supposed to wait 21 before I can withdraw my money.
And shipping late or something is PayPals fault because?

J Tiers
06-30-2013, 12:08 AM
Having spelled-out "rules and policies" does not mean you are not cheating anyone...... except in the strictest legal sense..... it merely means that you state up front in legal language the ways and means by which you propose to try to cheat them.

To maintain otherwise is to defend the legitimacy and even the morality of "payday loan" outfits, where the rules are all legally spelled out (no doubt in dense and impenetrable legalese), but are also carefully crafted to make it virtually certain that the "borrower" will need to take out another loan to pay back the first, incurring fees piled upon fees piled upon yet more fees.

It is difficult to suggest that any legal and "fully disclosed" system which nonetheless manages to have a large percentage of customers pay back up to 10 times the nominal amount of the loan and still owe the principal, is not "cheating" them.

Paypal at least does not do that, but still is WAY overdue for regulation as a bank.

Boostinjdm
06-30-2013, 01:05 AM
I'm starting to think that some of you guys just like to bitch. Paypal provides a service. When you use that service, you agree to their terms. Their rules apply whether you read them or not. If you don't like it, don't use it.

I haven't had any trouble with paypal. I'm actually pleased with how easy it makes online transactions.

dp
06-30-2013, 01:22 AM
Paypal at least does not do that, but still is WAY overdue for regulation as a bank.

If it were possible for a bank to do what PayPal does they would already be doing it. If you drop PayPal into the same bucket as banks it will cease to exist in the form we all love to hate.

gundog
06-30-2013, 12:30 PM
I only use pay-pal to buy on ebay. I run a small business and will not accept payment through pay pal because of the high charges for the seller. I can accept payments on visa & MC without using pay pal and it saves me money.

Mike

J Tiers
06-30-2013, 02:07 PM
If it were possible for a bank to do what PayPal does they would already be doing it. If you drop PayPal into the same bucket as banks it will cease to exist in the form we all love to hate.

And that would be a problem HOW?

At present, by all accounts, they seem to combine the functions of a bank, Western Union, a biased arbitrator, and a highway robber, all in one convenient package.

And it's all very well to say "just don't use them"...... but do you actually have a choice on ebay? I have been told (right here on forum) that ebay forces you to accept paypal if buyer requests, whether or not you want to. And likewise have been told (right here) that you will have your auction pulled if you state you will not accept paypal.

If true, that isn't a matter of "don't use paypal", but "just don't use the predominating and essentially *only* on-line auction that exists and has any credible reach"

Evan
06-30-2013, 05:44 PM
PayPal put a one dollar charge against my Visa recently. They left it there for a full week. At the same time my PayPal account showed zero activity of any sort. That was a lie.

krutch
06-30-2013, 05:45 PM
Friend of mine has a beef with E-bay and a seller. Ppal is the money handler. Seems FedEx delivered the package to some where on the 13th or 14th(? they don't know?) and the seller claims the transaction over. Have yet to see proof from fedex of delivery and no apparent action from ebay.
FedEx has a history of misdelivery and send backs for the delivery site in question. Has been going on this way for couple of years with no real explanation. Doesn't look good for friend to have this resolved. Might be out $60.00+ Says he'll cancel all accounts with those companies.
I have the same issues with fedex. They take the fees for delivery and don't deliver. Sometimes send back or make me drive 35+ miles to pick up the package. It's not like they have never been to my place! I call that thievery!

lakeside53
06-30-2013, 06:08 PM
And that would be a problem HOW?




Ever tried to open a bank account with only your name, phone and address as "id", and do it from 100 miles away? :)

J Tiers
06-30-2013, 10:05 PM
Ever tried to open a bank account with only your name, phone and address as "id", and do it from 100 miles away? :)

I'm not stupid enough to try it with regular banks.... But it can be done and is done. You just need to pick your bank.

Chuck K
06-30-2013, 10:29 PM
"At present, by all accounts, they seem to combine the functions of a bank, Western Union, a biased arbitrator, and a highway robber, all in one convenient package."

That's about the best description of Paypal that I have ever seen. I've given up on Ebay and Paypal both. Both are user friendly for the buyer at the expense of the seller.

Chuck

lakeside53
07-01-2013, 01:00 AM
I'm not stupid enough to try it with regular banks.... But it can be done and is done. You just need to pick your bank.

An "Irregular" bank, like paypal?

blondguy
07-01-2013, 02:21 AM
"Both are user friendly for the buyer at the expense of the seller.

This is the important part. Regardless of who thinks PayPal are crooks or not, the service makes it very easy for buyers to feed money into the economy, and you, as business owners reap the benefits of a healthy economy.

J Tiers
07-01-2013, 08:07 AM
Friendly for the buyer, means, in general, that Paypal ASSUMES the seller is a crook, and that in ANY transaction, the seller is trying to cheat, and the buyer is an innocent victim.

So if you want your stuff for free, just tell Paypal that all you got was a brick in a box.... You get your money back, and you can keep the goods too. It's simple, easy, and best of all, FREE!

Think of how much that benefits the economy.... it's just like welfare.


An "Irregular" bank, like paypal?

That would be a "NO". As you already "know".

Zero_Divide
07-01-2013, 12:37 PM
Friendly for the buyer, means, in general, that Paypal ASSUMES the seller is a crook, and that in ANY transaction, the seller is trying to cheat, and the buyer is an innocent victim.

So if you want your stuff for free, just tell Paypal that all you got was a brick in a box.... You get your money back, and you can keep the goods too. It's simple, easy, and best of all, FREE!

Think of how much that benefits the economy.... it's just like welfare.



That would be a "NO". As you already "know".

All business owners have to do is setup a database of those leachers and share it amongsts each other online.
Next time business is about to ship something he just checks the address and sees it red-flagged.
That's it!

If fraud was such a big problem, online businesses and stores would have set up this online database long time ago.

I guess fraud is just a small percentagentage of sales and they would rather bitch about rather than do something about it.

Chuck K
07-02-2013, 08:28 AM
All business owners have to do is setup a database of those leachers and share it amongsts each other online.
Next time business is about to ship something he just checks the address and sees it red-flagged.
That's it!

If fraud was such a big problem, online businesses and stores would have set up this online database long time ago.

I guess fraud is just a small percentagentage of sales and they would rather bitch about rather than do something about it.

For me, there wasn't enough profit left after ebay and paypal got there cut to even consider spending more time trying to determine which buyers were the ones that were out to screw me. I had already eliminated all but US buyers because there was absolutely no recourse for sales overseas. I just gave up selling small items and instead I use CL to sell machines locally. If I have to tell a prospective buyer what I really think, I don't have to worry about my "seller rating" being downgraded and I don't have to accept paypal.

Chuck

vpt
07-02-2013, 09:04 AM
If true, that isn't a matter of "don't use paypal", but "just don't use the predominating and essentially *only* on-line auction that exists and has any credible reach"




Ebay owns paypal. I will never ever use either ever again. I like craigslist face to face transactions and craigslist doesn't take all my money away from the sale.