PayPal is not all that bad...

[sashas]

I transferred a large xx,xxx k from my bank to my paypal account today. Within 2 minutes of initiating the transfer, I got a call from one of their reps asking me if I had authorized the transfer since it was a large amount

I was impressed, really. They're not all that bad...they actually look out for their customers as long as the transactions are within their policies.

 

[netklick]

I transferred a large xx,xxx k from my bank to my paypal account today. Within 2 minutes of initiating the transfer, I got a call from one of their reps asking me if I had authorized the transfer since it was a large amount

I was impressed, really. They're not all that bad...they actually look out for their customers as long as the transactions are within their policies.

Not everyone transfers xx,xxxK from their bank to the paypal account all the time. So I am sure this large amount popped up on their security screen and they called to verify - just like major CCs.

 

[smashfactory]

paypal would ROCK- if they protected sellers who sold domains, which are not tangable items. it is beyond me, that if you have the proof that the name was transferred to their account, and is in their posession, how they still side with the buyer.
THAT is what kills paypal for domainers ;-(

 

[netklick]

paypal would ROCK- if they protected sellers who sold domains, which are not tangable items. it is beyond me, that if you have the proof that the name was transferred to their account, and is in their posession, how they still side with the buyer.
THAT is what kills paypal for domainers ;-(

I had to wait hours to get a Paypal Rep when I lost $500 for a domain name. And finally when I got to her, she said, "sorry it was a digital item, hence your dispute is turned down!"

 

[Silhouette]

I transferred a large xx,xxx k from my bank to my paypal account today. Within 2 minutes .....

if the fund is to be transfer'ed the other way round, will it be 2 mins...? lol

j/king.


xx,xxx k == xx million?

 

[weblord]

how about transferring from paypal to another user? or payment to another user at that same amount? will or can you still trust them?

I transferred a large xx,xxx k from my bank to my paypal account today. Within 2 minutes of initiating the transfer, I got a call from one of their reps asking me if I had authorized the transfer since it was a large amount

I was impressed, really. They're not all that bad...they actually look out for their customers as long as the transactions are within their policies.

 

[cache]

with the ceo's departure, there would be some change I suppose.

 

[sashas]

xx,xxx k == xx million?

it was just xx,xxx...the k was a typo


very frankly, we all use Paypal KNOWING that their terms and policies do not provide security for intangible products. So technically, we have no reason to complain about them not helping us in getting our money back for digital items. We KNOW that thats how they work. We AGREE to use them on our own free will even when we know we're not protected. Its not their fault; they make it clear to you beforehand that they won't protect you for a digital product. You made a choice by using them, so you have to abide by their terms...simple

 

[Silhouette]

it was just xx,xxx...the k was a typo

me... just kidding

 

[mntor]

xx,xxx k == xx million?

it was just xx,xxx...the k was a typo


very frankly, we all use Paypal KNOWING that their terms and policies do not provide security for intangible products. So technically, we have no reason to complain about them not helping us in getting our money back for digital items. We KNOW that thats how they work. We AGREE to use them on our own free will even when we know we're not protected. Its not their fault; they make it clear to you beforehand that they won't protect you for a digital product. You made a choice by using them, so you have to abide by their terms...simple

Yep agreed, but not sure how many of us read the TOS before we use a system. Thats a different discussion altogether. Still I don't think the TOS would give us a picture of every situation we get caught into. eg: Your account getting limited because some buyer has sent you dirty funds. Now you are suddenly in a situation which i guess the TOS doesn't give a clue of.

We learn more by experience than by reading TOS. Experience costs us $$$. Thats what the cry is all about.

I am sure everyone will complain when their hard earned $$$ are in a mess for no fault of theirs.

 

[Mark]

If you "MUST" sell via PP - Please ask for a small payment from the buyer first (1$ +) ... call it whatever you wish (Security fee ... ). PP will not change a persons contact info on a stolen account unless it matches their Bank Account and Credit Card info on record.

You'll then have access to at least some information you can research Before following through with the transaction. And Legit buyers will not mind IMO ~

 

[Earthian]

PayPal is a very good company considering how fast payments can be send around the world ...

what PayPal should do though is cooperate with registrars to confirm whether a transfer/push has actually taken place ...

or registrars should create a Uniform Transfer/Push Confirmation system , eg. an email send by the registrar to a company (eg. to PayPal) after a request from the seller or a webpage on the registrar's site with a confirmation of the transfer/push ...

moreover , transfer/pushes (and confirmations) should be standarized so that banks will accept them as proof (similar to proof of receipt for tangible items) and cancel/void the chargeback ...








if you are really worried about chargebacks on PayPal , you can ask the buyer to use PayPal Mass Pay (supposing that the buyer trusts you since he was prepared to send a classic PayPal payment in the first place)

funds should be transferred to the PayPal balance before a payment is sent out and CCs are not accepted as a method of payment ... thereore a chargeback is not possible ... it is also very cheap , 2% of transaction paid by the buyer (capped at $1)

a negative side is that currently PayPal does not accept bank transfers to PayPal balance in many countries (and having enough money in PayPal balance or getting funds in PayPal balance from a friend is not very common/easy , especially for non-domainer buyers)








sashas - since you are probably transferring funds to your PayPal account so as to make a Mass Pay payment make sure that the seller/receiver-of-funds is legit and can be trusted ... also check out whether the domains are stolen or whether his forum/email account has been hacked (and therefore whether the person you are negotiating with is a scammer)

​

 

[Kate]

Judging by the experience of some people, doing high value transfers is a good way to get your account limited and reviewed, and be prepared to fight to have your account restored :yell:

 

[loko123]

umm. paypal is good but i would not trust too much their protection policies, specially if talking about big amounts of money.

 

[sashas]

this time, I was just transferring some money to my brother. I'm on vacation (well, sort of...its more of a pre-vacation) and don't have access to my bank, so Paypal does most of my banking duties.

 

[seeker]

paypalsucks.com has a VERY good reason for existing...

 

[DomainMayhem.com]

paypalsucks.com has a VERY good reason for existing...

Agreed. But no one really believes until they get stung.

 

[kemjika11]

it might seem a bit more inconvenient for domainers, but Paypal has a role to play in Internet/digital banking. Trust is a big issue with banking and money transfers, and since Paypal has been around for a while, and doing well, they must be doing something right. Even with all the bs, i like paypal.