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Old Sep 07, 2003, 08:11 PM
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Columbus University, Ohio, United States
Joined Jul 2003
142 Posts
Whats the deal with Paypal?

Why does it seem most people wont accept payment from it?
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Old Sep 07, 2003, 08:26 PM
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Paul Susbauer's Avatar
Hong Kong, Hong Kong Island, Hong Kong
Joined Apr 2001
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wha? seems like a lot of people use it.

--Paul
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Old Sep 07, 2003, 08:28 PM
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RMoore's Avatar
Huntsville, Alabama, USA
Joined May 2002
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I have used PayPal for 2-3 years, both for buying and selling stuff. Works great and cost (for selling - no cost for buyer) is very reasonable.

Randy
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Old Sep 07, 2003, 08:32 PM
Rehab is for quitters
LuckyArmpit's Avatar
West Middlesex, PA, US
Joined Jun 2001
4,853 Posts
Because pay pal charges the reciever a % of the funds sent.
Example.....you buy a plane from me and send me $100 thru pay pal. When it lands in my pay pal account, its not 100 bux but more like $93 or so....Those who sell stuff on ebay and accept pay pal tranfers already have the % they take out figured into the shipping.

Dave...
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Old Sep 07, 2003, 08:34 PM
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Arthur Knowles's Avatar
Fallbrook, CA
Joined Oct 1998
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Actually, Paypal only takes 2.9% when you upgrade your account to accept credit card transactions. If you leave it as an electronic check account, no % is removed from your account.
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Old Sep 07, 2003, 08:38 PM
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Columbus University, Ohio, United States
Joined Jul 2003
142 Posts
I've bought and sold alot of computer equipment over the past several years and its always been the staple form of payment in that sector, I just thought it was odd that so many sellers here prefer Check or MO instead.
3% doesnt seem so much for the peace of mind it always provided me as the seller even when the transaction was $10000+.

-David
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Old Sep 07, 2003, 08:44 PM
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JDMstuff's Avatar
Torrance, CA
Joined May 2003
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Most merchants including myself, are already paying the 3% on credit card transactions. The fees charged by Paypal are the same as accepting a credit card payment and adds convenience for the customer. Paypal is a company and they have to make their money somehow, do you think they would survive by accepting donations?
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Old Sep 07, 2003, 09:02 PM
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Canada's East Coast, "An Ocean Playground"
Joined Apr 2002
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yeah, it's especially convienient for Canadians who purchase online ....as far as the charges go, the seller just has to add a buck or two, or ASK the buyer to add a buck .....simple ...

.. geez, I took a US money order to my bank the other day and they charged me $5.00 to process it ...so both parties get stung with m/o purchases .....!

Bill
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Old Sep 07, 2003, 09:13 PM
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Orange County, CA
Joined Aug 2002
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Paypal Account

This is not true. Many people keep the funds in their Paypal account like a checking account in a normal bank. Thus Paypal has a vast amount of cash in hand for investiment. That's how banks operate on the checking account to generate their profit. Of course some banks charge if the amount in the account goes below a contracted amount, but it depends on their business policy. I just wish that Paypal stops charging all the transaction indiscreminately if the amount in the account is above some level.

just my two cents.

-signalone
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Old Sep 07, 2003, 09:32 PM
Must cancel PayPal acct!
Drivie's Avatar
AZ
Joined Mar 2003
1,077 Posts
Quote:
Originally posted by retiredVTT
.. geez, I took a US money order to my bank the other day and they charged me $5.00 to process it ...so both parties get stung with m/o purchases .....!
I ran into the same thing...was told to take it to the PO and they would cash it at no charge so that's what I did.

Money orders are a pain to get and then you have to mail them and wait for them to arrive before your items are shipped.

That said, my biggest complaint with PayPal is that it makes it too darned easy for me to spend money...

Drivie
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Old Sep 07, 2003, 09:45 PM
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Joined Jan 2002
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There was a site recently www.paypalsucks.com Or something similar (pardon the vulgarism) and there were MANY horror stories which would be sufficient to deterr ME from becoming a PP user. (I was a user once for only a couple of deals;changed my ISP and after that they never knew me in spite of attempts to re-establish identity.
As to the site mentioned above, posters having problems reported the attitude at Paypal seemed to be "Don't bother us; your problem" and there were LARGE amounts of money involved. Be careful, I'd say...
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Old Sep 07, 2003, 09:58 PM
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USA, WA, Vancouver
Joined May 2002
227 Posts
I have been using paypal for 3 o r4 years and have sent thousands of dollars never had a problem. On the other hand I have sent 3 money orders and have been burnt 2 times.
just my experience.
thanks
Thor
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Old Sep 07, 2003, 10:05 PM
AKA BillyKillaWatt
Billy Haynes's Avatar
Rockwell, NC
Joined Jan 2002
1,035 Posts
yea.........

[QUOTE]Originally posted by Glennie
[B]There was a site recently www.paypalsucks.com Or something similar (pardon the vulgarism) and there were MANY horror stories which would be sufficient to deterr ME from becoming a PP user.

That's just the reason I don't have an account. I just don't feel safe enough to use pay pal, but truth be known I'm not all that knowledgeable about how it works. For now I'll just use m.o.'s & personal checks, & not for alot of money les I get burnt that way....
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Old Sep 07, 2003, 10:14 PM
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canada
Joined Sep 2000
478 Posts
Please allow me to clarify on paypal. If you sign up for the personal account, everything is free except that you are not allowed to accept payment made from a paypal via a Credit Card transaction.

Paypal will ask that you upgrade to a Primer account which will allow you to accept payment from a Credit Card paypal account.

This is because the Credit Card charges PayPal 2.9 % for crediting the money to Paypal Company and in return Paypal charges you back the 2.9% plus a 0.30 fee per transaction.

I had to decline a US$ 24.00 transaction becasue Paypal wanted me to upgrade my personal account to Primier Acocunt before they would allow me to receive the US$ 24.00 payment.

This is for US Residents only:-

As long as you have a PayPal account link to your savings or checking account, you can make payment to any purchases and to any paypal account holders and there won't be any transaction fee involved for the other party.

Sometimes you come across sellers in here who would refused paypal account that is link to Credit Cards but GLADLY accept payment from papal account holders that are link to their savings or chequing account.

This is because they do not wish to bear the 2.9 % plus 30 charge.

One more thing, if you received money form a CC link Paypal account and WHEN there is a reversal on it, you would be charged $30.00 for the transaction so WATCH OUT.....


my 2 ...
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Old Sep 07, 2003, 10:53 PM
Check your six....
twinster2's Avatar
Kalamazoo Kal/Btlcrk, Michigan, United States
Joined Nov 2001
323 Posts
Paypal is too greedy.

Chrisc is correct. I have been using paypal for about 2 years and I continue to have a free account because I will not accept credit card purchases. I would consider it if upon being upgraded, paypal would only take a fee for only future CC deals. However, I believe that once you are a premier account holder, PP gets a cut of every transaction you make, regardless if it comes from a Bank Account or a Credit Card. I'm sorry but that is getting too greedy, especially when you think about all the money that is floating around in PP accounts that is used for investments. Thats my 3 cents. Don
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