Comments on: The Top Three PayPal Rip Offs (That Can Be Avoided!) http://www.geekpreneur.com/the-top-three-paypal-ripoffs the inteserection of geek and money Thu, 11 Mar 2010 23:16:39 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Dan H. http://www.geekpreneur.com/the-top-three-paypal-ripoffs/comment-page-1#comment-798 Dan H. Sun, 28 Dec 2008 04:21:13 +0000 http://www.geekpreneur.com/the-top-three-paypal-ripoffs#comment-798 Also keep in mind that if you get ripped off by someone not sending an item or a broken item etc... they will only refund your money a)when you jump through tons of hoops (hopefully within the small window of 30 days from purchase and upgrade the claim "after you arbitrate with the seller" within 20 days of dispute..blah blah blah)... and B) IF the seller HAS the money IN THIER ACCOUNT (yes, you know, the same account you've been telling that you are filling a fraud claim against!) If the seller pulls thier money in that 3-4 week time frame (as mine did) paypal sends you a nice email saying: Yes, you were right, they are scum, you win... but they have no money in thier account, so if they ever decide to add funds to thier account (the one we are about to lock, so they cant access).. then we will call you. :( Paypal is a monopoly and DIRTY THIEVES. :( Also keep in mind that if you get ripped off by someone not sending an item or a broken item etc... they will only refund your money
a)when you jump through tons of hoops (hopefully within the small window of 30 days from purchase and upgrade the claim "after you arbitrate with the seller" within 20 days of dispute..blah blah blah)...

and

B) IF the seller HAS the money IN THIER ACCOUNT (yes, you know, the same account you've been telling that you are filling a fraud claim against!)

If the seller pulls thier money in that 3-4 week time frame (as mine did)
paypal sends you a nice email saying:

Yes, you were right, they are scum, you win... but they have no money in thier account, so if they ever decide to add funds to thier account (the one we are about to lock, so they cant access).. then we will call you. :(

Paypal is a monopoly and DIRTY THIEVES. :(

]]> By: D http://www.geekpreneur.com/the-top-three-paypal-ripoffs/comment-page-1#comment-32 D Sat, 08 Dec 2007 21:05:14 +0000 http://www.geekpreneur.com/the-top-three-paypal-ripoffs#comment-32 Note that as PayPal does not operate as a bank, it is nonetheless a part of a huge corporation. The more money on high budget accounts that they can freeze, the more interest on that money eBay can make (as if they were not double-dipping enough with seller fees on eBay and then merchant fees on PayPal all for the same transaction). Of course, they say that their account limitations are motivated by trying to keep everyone secure. But they often limit accounts randomly and with no explanation other than 'you have been chosen to under go an identity verification process for your own security.' After submitting your social security number, driver's license, copies of bank statements, etc., and waiting for over a week, they might then allow you to use your account like normal but probably only after you have submitted more information as if the previous fax of everything about you was not enough. (Any employee at PayPal with a penchant for ID theft has a gold mine at their finger tips daily.) Also, when you withdraw money, it takes longer for it to reach a bank account than with other merchant processors, even if you have had your account in good standing for years. The thing to watch out for are PayPal disputes, people disputing payments made. But this is very hard to do. People these days will dispute payments at the drop of a hat, even after receiving exactly what they paid for if they suddenly want to send it back for a refund. If you have a new PayPal account with a few disputes in a month, and especially if you are accepting a lot of payments, expect a limitation and expect it to occur when the balance is higher than average. These funds become 'theirs' until they release it back to you to withdraw or you wait 180 days if they decide not to lift the limitation on your account. Of course they benefit from all of this extra cash - if they did not, they would not be doing their job for shareholders. It is just another way to increase the bottom line while increasing 'online security.' OK. Sure. Note that as PayPal does not operate as a bank, it is nonetheless a part of a huge corporation. The more money on high budget accounts that they can freeze, the more interest on that money eBay can make (as if they were not double-dipping enough with seller fees on eBay and then merchant fees on PayPal all for the same transaction). Of course, they say that their account limitations are motivated by trying to keep everyone secure. But they often limit accounts randomly and with no explanation other than 'you have been chosen to under go an identity verification process for your own security.' After submitting your social security number, driver's license, copies of bank statements, etc., and waiting for over a week, they might then allow you to use your account like normal but probably only after you have submitted more information as if the previous fax of everything about you was not enough. (Any employee at PayPal with a penchant for ID theft has a gold mine at their finger tips daily.) Also, when you withdraw money, it takes longer for it to reach a bank account than with other merchant processors, even if you have had your account in good standing for years. The thing to watch out for are PayPal disputes, people disputing payments made. But this is very hard to do. People these days will dispute payments at the drop of a hat, even after receiving exactly what they paid for if they suddenly want to send it back for a refund. If you have a new PayPal account with a few disputes in a month, and especially if you are accepting a lot of payments, expect a limitation and expect it to occur when the balance is higher than average. These funds become 'theirs' until they release it back to you to withdraw or you wait 180 days if they decide not to lift the limitation on your account. Of course they benefit from all of this extra cash - if they did not, they would not be doing their job for shareholders. It is just another way to increase the bottom line while increasing 'online security.' OK. Sure.

]]> By: Shool Loan Guy http://www.geekpreneur.com/the-top-three-paypal-ripoffs/comment-page-1#comment-3 Shool Loan Guy Wed, 28 Nov 2007 00:39:35 +0000 http://www.geekpreneur.com/the-top-three-paypal-ripoffs#comment-3 Anyone who leaves thousands of dollars in their PayPal account is just asking for problems. Once you get that money in there, transfer it to a normal bank account. Good article, thanks. Anyone who leaves thousands of dollars in their PayPal account is just asking for problems. Once you get that money in there, transfer it to a normal bank account. Good article, thanks.

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