PayPal (sucks) - Kawasaki Versys Forum
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post #1 of 9 (permalink) Old 12-15-2016, 11:34 AM Thread Starter
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PayPal (sucks)

I sold an item on Kijiji and was notified by Paypal that the funds were received on Dec 6. I am still waiting for the money (over $400) to hit my bank account. PayPal is getting worse all the time. My buyer paid $12+ in fees on a $430 purchase.

Here in Canada, I prefer eTransfer (bank to bank). The funds are instantly transferred and the fee is very low for the sender: $1.50 per transfer, although with some bank accounts (mine) it is free. It's very secure too, as the buyer uses the seller's email address only (same as PayPal) plus a security question that he shares the answer to with the receiver.

I'm not sure if eTransfer is available in the US but when it is widely used PayPal's days will be numbered, and they will deserve what they get.

PayPal truly sucks.
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Last edited by Smiley; 12-15-2016 at 12:04 PM.
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post #2 of 9 (permalink) Old 12-15-2016, 12:40 PM
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I quit using PayPal a few years ago. Anything i sold the last few years have been on forums with good members so I just have them send me a Postal Money Order or a Personal Check. Have had no issues getting paid.

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post #3 of 9 (permalink) Old 12-15-2016, 03:00 PM
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The payment card system is a huge business scam, and not just PayPal by any stretch. There are payment processors that are much bigger thieves than PayPal. The difference is that you, the consumer, don't see them at work.

Until PayPal came along, most people had no idea what the banks take out of every single credit or debit card transaction. Depending on the type of transaction, every time you use a payment card, some bank gets anywhere from 2% to 10% of the total transaction. If you have a high-risk business and the principals don't have good credit, yes, the banks and payment processors can take up to 10% of each transaction. The higher the risk, also the longer the wait to get your funds. If you are a high-risk business, you may be stuck with using off-shore processors that take that high % and hold your money for days or weeks before depositing it in your bank.

PayPal simply opened it up for banks and payment processors to allow individuals to send each other funds using cards so they could start taking money from individuals and not just businesses.

For many businesses, especially small and new businesses, PayPal actually has lower rates than other payment card processors available to them.

Every time you pay with a card anywhere, the banks get a cut.

Having been in small business accounting for many years, this still irks me.

So, I'm not saying PayPal isn't the devil (no religious implication intended, just for lack of a better word), I'm saying it's just the devil you see most clearly. There are much worse.
If you don't like the way they work, use your payment cards as little as possible, especially for small businesses, like the ones that make the stuff we love to buy for our bikes and other hobbies.

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post #4 of 9 (permalink) Old 12-15-2016, 06:08 PM
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Quote:
Originally Posted by Smiley View Post
I sold an item on Kijiji and was notified by Paypal that the funds were received on Dec 6. I am still waiting for the money (over $400) to hit my bank account. PayPal is getting worse all the time. My buyer paid $12+ in fees on a $430 purchase.

Here in Canada, I prefer eTransfer (bank to bank). The funds are instantly transferred and the fee is very low for the sender: $1.50 per transfer, although with some bank accounts (mine) it is free. It's very secure too, as the buyer uses the seller's email address only (same as PayPal) plus a security question that he shares the answer to with the receiver.

I'm not sure if eTransfer is available in the US but when it is widely used PayPal's days will be numbered, and they will deserve what they get.

PayPal truly sucks.
They take it in seconds, paying back takes 9 days, how do I know. I use a bank account specifically for PayPal, had some money coming in, and had a Ebay purchase, Pitney Bowes Global Screwing Network Wait that was Shipping, screwing is what they do, two shipping fees and two transactions in the bank account. Added sufficient funds to cover purchase, logged into the bank, NSF , two transactions for shipping and the money was $9 USD ,waiting the 9 days to clear their system, PayPal has a rule, can't transfer below $15 into bank, so all the bank charges and 9 bucks in limbo. Where possible I use a credit card even when PayPal is the official collecting for a company.

Sorry for the run on, hit a nerve here too. FYI I think you need to log in and do a transfer /claim it , normally it isn't automatic coming back.
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post #5 of 9 (permalink) Old 12-15-2016, 07:16 PM
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I have been using PayPal for quite a few years and never had a problem. I do believe the fees are not that high.
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post #6 of 9 (permalink) Old 12-15-2016, 09:25 PM
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I have been using PayPal for quite a few years and never had a problem. I do believe the fees are not that high.
Separate Companies, Since the two separated, the right hand doesn't know what the left hand is doing. Yes, I have moved $1,000 nds over 12 years, some of what I said applies towards eBay, however their holding policy is applied for their benefit, fees , yes can be reasonable, better check the exchange rate they offer to current market exchange. I received a threatening " we are going to remove buyer protection due to number of claims filed" email, apparently automated, so they said. This was a dispute between eBay and PayPal, both claims were eBay, orders from China , small dollar amounts but 30 day limit to file non receipt. China I have had 6 weeks in shipping. My complaint was filed, as I felt a more professional procedure would have been to ask me to contact them, over the last two claims.
Let us just say, communication is vital, no mind readers here
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post #7 of 9 (permalink) Old 12-16-2016, 01:26 AM
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Paypal has a virtual monopoly which is why they can charge the fees they do. They are secure however and allow appeals if the item is not received. In sending CDN to CDN funds I have noticed I was charged for a conversion to US funds and then again for a conversion back to CDN funds so was charged twice for this.

eTransfer is a lot cheaper and just as secure for sending funds within Canada but PayPal is still the only choice for cross border transactions. Part of the problem is the many, many small, independent banks in the US makes implementing any electronic technology for money transfers from bank to bank lot more difficult than it is in Canada where we have only a few large chartered banks. As an example, we've had debit cards going on 20 years here where as they are relatively new in the US. PIN and touch enabled credit cards are just now hitting the US market now where they have existed elsewhere for over 10 years.
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post #8 of 9 (permalink) Old 12-16-2016, 06:02 AM
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My personal experience with PayPal has been very positive. As a buyer, or a seller.

In the US the seller pays the fees, not the buyer.

I have had no issues moving money from PayPal into my account.

I like that I don't have to provide my cc number to businesses when I use PayPal. Less risk of some random breech releasing my information to hackers.

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post #9 of 9 (permalink) Old 12-16-2016, 06:11 AM Thread Starter
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eTransfer is run by Interac, very efficient, secure and, as I said before, cheap to use. $1.50 maximum but my credit union don't charge me anything to use it. Once I hit sixty my credit union gave me free banking- no charges except for $5.00 overdraft.

I was surprised when I could not use my debit card in the US. Most places had never heard of them. I use it almost daily.

PayPal still sucks.
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