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  1. #1
    ABW Ambassador affiliatemakeover's Avatar
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    Somebody sent me a link to the paypal sucks site, warning me about paypal.

    I trust the members of this board. Do YOU trust paypal? Should I be worried?

    Thanks, Jim

  2. #2
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    I'm really skeptical after reading stuff on various sites like the one you mentioned...I just keep a balance as close to zero as possible...then they have nothing to steal from me.
    On the other hand, I don't trust their fraud protection policies. They only give you 30 days to contact them about fraud. After that, you're on your own...In my mind, 30 days is no where close to being enough time to resolve an issue like mature adults. I'd like to think that I can work it out w/ a seller before going and telling on them. For example, I had a bad experience w/ an ebay seller and because he was so flaky, it took me three months to figure out I wasn't getting what I paid for, and PayPal wouldn't help. What finally got my money back (I know I'm straying) was going through the BBB.
    To answer you question...yes, I trust them, but only enough to use on eBay and for transactions on my site, but I'll take the money & run before they get their claws into it [img]/infopop/emoticons/icon_smile.gif[/img]
    I'm hoping they'll be better now that eBay own's 'em; however, it will still be a separate entity...I also hope eBay doesn't shut it down. On the other foot (cuz I think I'm out of hands) if PayPal goes down, I'm sure some better services will pop up right behind to take their place...

  3. #3
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    Wasn't PayPal bought out by eBay recently? That might change the dynamics of the company.

    A lot of the loudest voices against PayPal were people who got ticked when PayPal stopped giving referral bonuses for new accounts...cause they were paying out a ton of money for accounts that never got used.

    But I agree, it is still not a bank. It is a new economy company...a synonym for mismanaged...so I would agree that you should keep your balance low, and not depend on getting to it quickly.

  4. #4
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    NO. Paypal is fine, they are doing well and that is why ebay bought them. They are not mismanaged but realized giving away free money is not the way to grow a company.

    Paypal is a big shock for kids who never worked with a merchant account. They work the same way and are fine.

    As with a merchant account, the merchant is always wrong, the merchant is always responsible. You think I am kidding, I am not. That is one of the reason you see so many reversals, merchants aren't stupid, they don't need fraud so they refuse orders that smell funny. You should handle your paypal account the same way.

    That is why you see people like overstock get *****ed at on this site, they only send to verified addresses, why do you think this is? Because they hate their customers? Because they are morons? No. Because they want to avoid fraud.

    Chet

    [ 08-23-2002: Message edited by: Chez Noir ]

  5. #5
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    My experience with Paypal has been limited, but I never had any problems with them.

    My comment on this matter, though, is this:

    If there were any serious problems/concerns about paypal, there would certainly be an abundance of "paypal s@#ks"-type threads here at ABW. I don't recall ever seeing any.

  6. #6
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    I use paypal for a couple of US clients cos it's easier and quicker than getting dollar cheques. However, I had $400 stolen from my account and placed in a Webdollar account (Webdollar are kinda like paypal for the gambling industry). Paypal did nothing except ask for a notarized affidavit; Webdollar on the other hand actually looked into it, found that this account had nothing to do with me and repaid the money.

    I still use paypal but now I withdraw the money to my bank account as soon as it comes in. I leave about $40-$50 in there to cover various hosting fees but that's it.

  7. #7
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    Some of our clients love Paypal, so we accept it for them. I have never, ever had a problem with Paypal, and have been using them for several years. OTH, after all of the stuff that I have heard and read, I will not leave a large sum of money in my account. I worry that they are not regulated like a bank, and they could essentially do whatever they please with your money. In answer to your question, from experience, I would use them....from what I've heard, I wouldn't leave a large balance in your account [img]/infopop/emoticons/icon_smile.gif[/img]

  8. #8
    2005 Linkshare Golden Link Award Winner  ecomcity's Avatar
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    They originally were a great service..like Western Union on Steroids. Thgey grew and everyone was happy with a simple account setup and way to exchange cash if your account was funded. Then they got the IPO and buyout fever and started with new regulation after new regulation to satisfy the Fed -Banking industry -Credit Card companies and potential buyers.

    Result is they became over restrictive on their consumer/merchant side and forced all accounts to comply with guideline not even required by Banks. Many loyal PayPal folks now found they were subjected to coonditions that froze their funds and to get at them was like being forced to submit a credit report -Retnal scann -fingerprints- copy of drivers license and pissing once a month for drug testing.

    My sites wholesale club $25 membership fees were paid into my account and they sent me a check when asked or I uses some of it for online puchases. My status was never a offically a merchant ..just premium member. Then they froze all my balance and new membership fees til I was out over 1400.00 because they wouldn't accept a company Credit Card ..the only one I use. My personal checking account wasn't suitable for merchant status they imposed on me. They had no system in place to change my personal original account information to company information where my partners name is also on the accounts. So they sent back my balances and new membership fees to the PayPal members. I was furious and frustrated when even phone calls didn't help. They couldn't change my status back to preferred verified member once they tagged me as a merchant so I could get to my balance and get a check. They therefore join the ranks of a greedy business with few ethics and poor customer service.

  9. #9
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    I've never had a problem either. Several of my clients pay me via Paypal and I've been using them for a year and a half. I'm always skeptical of sites like Paypal sucks b/c I can't help but think that there was some TOS violation involved that the complainant isn't disclosing, and they are posting the story publicly in order to blackmail the company into satisfying them rather than deal with bad PR.

    OTOH, I do withdraw my money as soon as it comes in, just in case [img]/infopop/emoticons/icon_smile.gif[/img]

    {

  10. #10
    ABW Ambassador qball0213's Avatar
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    I love getting paid by paypal, but I'm like the rest, I either buy stuff, pay for hosting, domain registrations etc, and transfer the rest to my bank, better safe than sorry. If you need it, you can always transfer it back, just have to wait a few days on it.

  11. #11
    ABW Ambassador Andy's Avatar
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    The best advice I can give you has already been offered in this thread:

    1. Remember PayPal is NOT a bank, and they do not need to meet the same requirements and standards.

    2. Keep the smallest amount of money possible in your bank account. Transfer funds out of the account VERY regularly.

    I know firsthand through a friend what happens at PayPal. Their story mirrors some of the accounts at the anti-PayPal site. They were almost devastated financially.

    Lots of people using the Internet have PayPal accounts, so it is nice to offer it as an option. I would promote another service, though - I've heard good things about 2Checkout.com, and I know several here at ABW use them and like them very much.

    Andy

  12. #12
    ABW Ambassador qball0213's Avatar
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    I love getting paid by paypal, but I'm like the rest, I either buy stuff, pay for hosting, domain registrations etc, and transfer the rest to my bank, better safe than sorry. If you need it, you can always transfer it back, just have to wait a few days on it.

  13. #13
    ABW Ambassador Andy's Avatar
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    The best advice I can give you has already been offered in this thread:

    1. Remember PayPal is NOT a bank, and they do not need to meet the same requirements and standards.

    2. Keep the smallest amount of money possible in your bank account. Transfer funds out of the account VERY regularly.

    I know firsthand through a friend what happens at PayPal. Their story mirrors some of the accounts at the anti-PayPal site. They were almost devastated financially.

    Lots of people using the Internet have PayPal accounts, so it is nice to offer it as an option. I would promote another service, though - I've heard good things about 2Checkout.com, and I know several here at ABW use them and like them very much.

    Andy

  14. #14
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by Chez Noir:
    They are not mismanaged but realized giving away free money is not the way to grow a company.
    <HR></BLOCKQUOTE>
    Umm..PayPal did grow because they gave away free money...they got big enough to realize they didn't need to do that anymore & now they can focus on their real goal, making money (or stealing in some cases)...

  15. #15
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    Our problems with paypal had nothing to do with the bonus they paid. They "restricted" our account and it took 6 weeks to get it unrestricted. To not have $600 available to use during that time was horrible and it was all over the simpliest of things. (The difference between the canadian/american dollar exchange issue, any idiot could see the problem, the merchant even faxed paypal a letter.)

    Trying to call or email them was like talking to a wall. No response. Hang ups. Put on hold for 42 minutes. (no exaggeration) When they came back they said, "There's no one here that can help you." and hung up.

    I agree, up until I had a problem, I thought paypal was a pretty good service. But if you ever do have a problem, it's pure hell.

    In our situation, it was nothing we did, or the buyers did. It was totally internal to paypal, but that didn't matter. They restricted the account, and we had to "tread water" for 6 weeks... Oh, btw, one thing they did do: they continued to accept money from our customers! The account was restricted, we could not stop them from accepting money from people on our behalf. So we had customers "paying" us, but we could not get the money, yet the customers expected us to provide the product. Try to do that for 6 weeks and see how many hairs you lose.

  16. #16
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    Back when PayPal was owned by X.com and offered banking services, I deposited several hundred dollars in a checking account (don't remember the exact amount). I did not write any checks. Imagine my surprise when I went to see if my funds were available, and X.com showed a very large NEGATIVE balance in a weird amount that in no way matched what I had deposited. Repeated emails resulted in nothing but form letters that did not address the problem at all. As I recall, this went on for quite a long time. Finally I got my money out and closed the account.

    I know eBay owns PayPal now, but I will never trust this company. Something is really wrong there.

  17. #17
    ABW Ambassador webmarm's Avatar
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    Be very, very careful with PayPal. I also get my money out of there ASAP, and always expect the axe to fall at some point. I was also skeptical about the s*cks site until my dear host FutureQuest got the full blown treatment from PayPal.

    The threads where Deb vented are at FutureQuest Forums and WebHosting Talk forums, where her posts start on page 2.

    I still use them (PayPal) due to laziness: haven't looked for an alternative.

    Beam me up Scotty, there's no intelligent email left on the planet.

  18. #18
    Outsourced Program Manager Chris -  AMWSO's Avatar
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    Ditto, we had a number of clients have similar problems when trying to withdraw large amounts...keep your balance low and get your money out often...

    Cheers

    Chris

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  19. #19
    Super Sh!t Stirrer SSanf's Avatar
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    What percentage of the customers do you feel click away without buying because you use PayPal?

    The Wolf Credo: Respect the elders. Teach the young. Cooperate with the pack. Play when you can. Hunt when you must. Rest in between. Share your affections. Voice your feelings. Leave your mark.

  20. #20
    Defender of Truth, Justice and the Affiliate Way
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    I personally have never had a problem with PayPal and have used them for years. Although I never have a large balance since I use my PayPal debit card to make business purchases whenever there is money in the account and get my 1.5% rebate. This probably adds up to a few hundred dollars a year.

    SSanf -- I don't know how many people might click away because you offer PayPal as payment option. I offer PayPal, but also have a full merchant account. I get a handful of payments through PayPal every month, but the bulk of my payments are through regular credit card payments. I offer PayPal as an ancillary form of payment for those folks who want to use it. I've found that offering as many payment options as possible yields the best results for me. I try to accomodate as many of my customer's wishes as possible. It's really hard to judge how many customers you may have lost until you offer different payment methods.

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