PayPal?

[FrankS]

Pros? Cons? Do you register with your proper name or a made-up one? People pay into your account, you can pay others out of your account, right? How do you get your money out at the end if there is a surplus? I'm just a babe in the woods with this.

 

[GeneW]

More pros than cons for me, though some folk don't like Paypal. It makes International buying and selling *so* much easier and faster.

Most people seem to use their standard email address for their Paypal ident. You can have more than one if you want to create an 'alias' type of address on Gmail, Hotmail etc.

There are basic levels of Paypal. Buyer is simplest. You can set up your Paypal against your credit card. Seller is the next step, and takes a few days to set up. You enter a bank account to which money can be paid and Paypal verifies it. After that you're all set. You simply do an online money transfer to your bank account to remove your money from Paypal.

Gene

 

[back alley]

i don't use credit cards so i never did activate an account.

i think it would make life as a buyer easier.
joe

 

[pshinkaw]

Frank:

I tied my Paypal account to a credit union checking account where I only keep a few hundred $$ at a time. Limits my exposure.

I also use an e-mail address for Paypal that is different from the one I use for e-Bay transactions. That helps me identify scams that come in because of my e-Bay activity.

On the whole it works well for me.

-Paul

 

[nwcanonman]

Yeah, like Gene said. I've used it for years, no problems at all.
Just don't fall for any of the silly email scams.

 

[dll927]

As for an ID, I use a phony one, although the e-mail address has to be there for any communication. I haven't sold anything through Paypal, but I've bought several FSU cameras through it. No problems so far.

 

[jan normandale]

Hi Frank

I suggest you read the paypal agreement then Google "paypal" and read some threads on the issues people have encountered with Paypal. Additionally Paypal has an obligation to pass all information provided by you to various US governmental agencies under the PATRIOT Act. Very intimidating when you don't live in the US.

Finally after using PayPal for 3 years they closed me down until I agreed to give them access to my bank account information. Until that point I had operated with no problems using my Mastercard on the buy side only. When this notification came to me I closed down for the reasons above. I won't go into the mind numbing 3 months I spent trying to get hold of someone at paypal to discuss the need for a bank account. Never did get anyone from paypal so I figured it was a sign.

When you read the threads you will see I was not alone with this problem of a deaf ear.

Caveat emptor!

Jan

 

[RubenBlaedel]

paypal is expensive and it is almost imposible to get hold of real people and it is very hard to change to another account for your withdrawals - a lot of people seem to hate paypal It feels like you insult them when you suggest paying via PayPal.
I use it and made my mind up to ignore the fact that they get I dont know how much money everytime I buy or sell - For me it is easy - I can pay euro, dollar sterling og Dansih kroners, and it works very fast and no one will get my credit card number except PayPal and i think they look after it so for a fast and eays way to pay I would recommend it

 

[dmr]

Do you register with your proper name or a made-up one? People pay into your account, you can pay others out of your account, right?

I don't use it, primarily because a good friend of mine got double-billed on her credit card and had a major frustrating head-banging time getting it straight. It's just too risky, IMAO, that is.

 

[rover]

I am in the Paypal Hall of Fame. 😀

Oh, that isn't good, is it?

 

[peter_n]

I use it a lot and for international transactions it can't be beat. Also I don't think you have to have a credit card to use it. Just tie it to your bank account for debits and credits.

 

[back alley]

i think you need a credit card to activate an account and then you never have to use the card there after.
that was my experience anyway.
joe

 

[peter_n]

OK I guess I didn't realize that. They should make the service available to any person who's bank account they can verify. The account verification process is simple and doesn't require a credit card or an ATM card.

 

[back alley]

this was a couple of years ago, peter. it might be different now.

i have learned to wait for my money order to arrive before anything gets shipped out to me.
it's a pain and adds time to my waiting but it beats me having a credit card. (very dangerous)

joe

 

[rover]

I think Peter is right, no credit card needed.

I may have just gave them my debit card in place of a credit card, same thing as a credit card, sorta.

 

[back alley]

i remember trying to use a debit card but this was before they accepted them. the site insisted on a credit card to activate the account.

it gave me an account but i could not use it till i activated it.
it was a bit of absurdity that made me crazy.

joe

 

[bmattock]

As a seller, you MUST have a credit card listed with Paypal or you cannot receive money - plain and simple. People don't realize this because they let you do it without a credit card for about $2,000, then they close you down until you list a credit card.

Paypal is just about necessary to do business on eBay, IMHO. So many people won't bid if they can't pay via paypal, you lose money.

I use it, I generally like it.

BUT...God help you if a buyer complains 'merchandise not as advertised'. They LOCK your account. Period. Frozen. No money in, no money out. Try to run auctions that way. They say 7-14 business days to resolve a dispute - BS. Took well over three months in my case. And I lost big time to a crook. And FORGET about getting anyone at Paypal who will say anything other than 'Sorry you feel that way'.

I hate Paypal. I use them - really, I have to. But I hate them. I think they're shysters and crooks who have a nice niche for themselves and are making money hand over fist. Bully for them, but the day someone else gets their act together enough to compete with them, Paypal is over. They really are bullies and crooks, but they are the only (real) game in town right now.

Best Regards,

Bill Mattocks

PS - One tip is to sweep any money out of your account each day. Don't let it ride as a positive balance. They can't lock what they don't have. However, they did lose a court case - for awhile, they WERE locking up people's bank accounts - even their checking accounts. And the banks let them do it. They lost in court.

 

[Bob Michaels]

I like the fact that PayPal adds another layer between my personal information and the person I'm paying.

But I'm a holdover who still pays for everything I buy face to face with pictures of dead presidents. I have a few high limit credit cards but never use them. Only use my debit card when buying non paypal things on line.

My kids never carry cash "for security reasons". I always use cash to keep people from knowing my account numbers "for security reasons". I guess it's a generational thing. I just could never see giving some minimum wage clerk a number that could concievably give them access to more money than they've ever seen before.

I trade with a local very good used photo equipment dealer and always pay in cash. I figure what goes on between him and IRS is not my business. But I always get good deals and never pay sales tax. Last week he GAVE me a good Canonet GIII (needs seals) because he knew I was looking for one. Nice way to return the favor.

 

[nwcanonman]

Peter,
They still need a CC for "back-up" of your bank account. I always transfer any money from the PP account to my bank account ASAP. I've never had a single problem with them.

 

[jan normandale]

paypal is expensive and it is almost imposible to get hold of real people and it is very hard to change to another account for your withdrawals - a lot of people seem to hate paypal It feels like you insult them when you suggest paying via PayPal.
I use it and made my mind up to ignore the fact that they get I dont know how much money everytime I buy or sell - For me it is easy - I can pay euro, dollar sterling og Dansih kroners, and it works very fast and no one will get my credit card number except PayPal and i think they look after it so for a fast and eays way to pay I would recommend it

Hi Reuben

I got into the Paypal thing in depth and there is a difference. The European Union do not permit Paypal to operate the same way they operate in North America. Interesting isn't it.

EU says you must operate 'this way' and they do, in North America they do anything they want until a 2 year court case is concluded and then they do as they are told only on that judgement. And so it goes.

I have found no problem getting merchandise thru ebay all people seem to accept money orders and many will accept credit cards. So I have only had one auction where I could not bid and it was an item that had another 10 vendors selling a similar product so all I did was bid with them. The 'paypal only' auctioneer lost out

Jan