discuss Summary of Latest Paypal Changes Coming (March 29, 2017)

[Beezy]

Here is the whole list of changes:

https://www.paypal.com/us/webapps/mpp/ua/upcoming-policies-full?locale.x=en

Please discuss!

 

[joro001]

Thanks for this.
From a quick look looks like fees keep on rising.

Paypal better be careful as there are plenty of alternatives out there to receive funds.
For example I just used EPIK escrow which was an incredibly positive experience from start to finish and could withdraw funds via paypal or wire.

I still want to use Paypal in certain situations but I don't like seeing constant fee/currency conversion hikes

 

[Ted.T]

Great... Higher fees, what could be better... At the moment Paypal is the easiest payment method, but if this tendency will continue, I'm sure a new type of payment system will be developed.

 

[campout]

Ehh this sucks. Maybe Bitcoin can replace Paypal in domainer-to-domainer transactions here on NP.

 

[DN_Hunter]

Interesting Bullet under items NOT Eligible for purchase protection

• payments sent using PayPal's Friends and Family functionality

Does this mean if I sell a domain name, and have the buyer send me funds as a "Friend or Family", then they can no longer file a dispute to get the funds back? (or is this against PayPal terms in some other section of their User Agreement)?

The reason I ask is this would be a great way to sell domain names that are low $xxx USD -- I don't have to worry about chargebacks 6 months down the road...

 

[Ted.T]

Interesting Bullet under items NOT Eligible for purchase protection

• payments sent using PayPal's Friends and Family functionality

Does this mean if I sell a domain name, and have the buyer send me funds as a "Friend or Family", then they can no longer file a dispute to get the funds back? (or is this against PayPal terms in some other section of their User Agreement)?

The reason I ask is this would be a great way to sell domain names that are low $xxx USD -- I don't have to worry about chargebacks 6 months down the road...

Sending money to Friends and Family, is by default, a donation, not a sale. So sending the money for a sale as Friends and Family payment could be considered against the rules.

 

[DN_Hunter]

Sending money to Friends and Family, is by default, a donation, not a sale. So sending the money for a sale as Friends and Family payment could be considered against the rules.

Yea, that makes sense, so scratch that idea. But how about the first bullet?

• Financial products or investments of any kind

I wonder if they would consider a Domain Name as an "Investment"?

 

[Ted.T]

I wonder if they would consider a Domain Name as an "Investment"?

I don't think. Domain would be considered an intangible good.

 

[Ted.T]

In fact, Paypal is really a revolutionary payment method. You just need an email to send or receive a payment, and it's very convenient, but only for online transactions. Last few days I was mad because I couldn't access all my money on the card while being abroad, because of my bank's limitations, ATM's limitations, ATM bank's limitations, different fees or very high fees... And I was thinking that at the moment there is no other alternative to access your bank account and all your money when you need it, especially being abroad or having no internet connection.

So, as we can see from the last technology news, there will be for sure some new start-ups that will try to solve this issues and offer an even easier method to send and receive payments online, and at the same time to offer a viable offline solution.

It was a real breakthrough the invention of ATMs, now is the time for the next level. What will it be, nobody knows...

 

[carob]

Great... Higher fees, what could be better... At the moment Paypal is the easiest payment method, but if this tendency will continue, I'm sure a new type of payment system will be developed.

There are plenty of others, including Stripe and Transferwise (way cheaper).
https://www.sitepoint.com/8-paypal-alternatives/

Worth exploring other stuff in case they lock your account, it is not quick to unlock -mistakenly I ticked a wrong box about charity status - made no difference in real life or in fees - they locked the account and wanted me to upload docs to a locked account which was obviously not possible.
http://www.screw-paypal.com/alternatives/alternatives.html

 

[Ross Murray]

Paypal is by far the best medium for these transactions but some other alternative would surely come if they keep steering on this track

 

[Ted.T]

There are plenty of others, including Stripe and Transferwise (way cheaper).
https://www.sitepoint.com/8-paypal-alternatives/

Unfortunately, these alternatives are not wide-spread, the majority of online commerce sites don't use them, and a lot of people don't know that they exist.

 

[SlimPickins]

• Financial products or investments of any kind

I wonder if they would consider a Domain Name as an "Investment"?

That is exactly what caught my eye in it too (ever rising fees, not so much a surprise unfortunately), seems like a clause that is less than scammed buyer friendly, could possibly allow a bad seller to argue their case on that ground if a domain they "sold" was stolen to begin with/never owned and transfered/etc and a buyer winds up out his money. hopefully not, will see.

But also this got me thinkin in regards to sellers:

At all of your points of sale (in whatever form), you agree not to try to dissuade or inhibit your customers from using PayPal;

.... Seems like with big ticket sales/unknown buyers/new members/etc this is done often, and understandably so, specifically because of issues people can have with a domain transaction using PP instead of escrow etc. Almost sounds like a domain seller would be breaking their TOS by NOT using their service (ie this was a sale that as seller they were not comfortable at that amount, with this buyer) if the buyer expressed a interest or preference even to use paypal...