Reamond
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posted on September 9, 2002 02:13:46 PM new
Seems a Federal Judge has ruled that paypal's arbitration policy for frozen funds is "unfair" and that those affected may go right to a jury trial, and the class action suit is allowed to procede. OUCH !!!
http://www.auctionbytes.com/cab/abn/y02/m09/i09/s02
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twelvepole
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posted on September 9, 2002 03:27:37 PM new
Just more reasons not to use those thieving liars!
I hope they get stuck right in the a$$ for some huge amounts of money.
Ain't Life Grand... 
[ edited by twelvepole on Sep 9, 2002 06:56 PM ]
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Libra63
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posted on September 9, 2002 04:55:11 PM new
Remember eBay has purchased PayPal....
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Reamond
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posted on September 9, 2002 05:33:36 PM new
They also purchased the lawsuit. Class action suits are very expensive. The defendant has to foot the bill for notification and many other expenses of the class.
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twelvepole
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posted on September 9, 2002 06:55:58 PM new
Well they may have purchased Paysteal, but if they do away with eBay payments, then I quit taking credit cards until I can find someone else.
Knock on wood, I have yet to ever have a problem with ebay payments, unlike I had with paypal...
Ain't Life Grand...
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tooltimes
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posted on September 9, 2002 07:59:58 PM new
The matter will be settled with the class action suit.
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twinsoft
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posted on September 9, 2002 08:58:42 PM new
Thanks for the link, Reamond. Given Paypal's attitude towards customers, it was only a matter of time before Paypal's actions came under the scrutiny of a judge. Bunch of crooks.
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alwaysbroke
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posted on September 10, 2002 02:50:14 PM new
I've noticed more and more sellers only accepting payments with money orders; maybe checks & cc's.
I couldn't help but wonder if the OP's topic had something to do with it.
I've also run across more and more sellers specifically stating, "I do not accept Paypal."
It's inconvenient to go get a MO, but I understand.
http://www.sparedollar.com/sdGallery/usergallery.asp?uID=2261
http://www.sparedollar.com?ref=2261
lurking is not an option
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Reamond
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posted on September 10, 2002 03:02:51 PM new
This case may actually make it better to use Paypal. Freezing funds may become much harder to do -- so Paypal may have to develop better anti-fraud systems. It may also better flesh out the hybrid money exchange that Paypal is.
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marcn
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posted on September 10, 2002 04:08:21 PM new
I am one of those sellers as of last week who no longer take Paypal after having my account resticted for some time. I expected a decrease in sales but that has not been the case. My ads clearly say "We No Longer Accept Paypal" and people just starting using Billpoint!
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trai
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posted on September 10, 2002 04:24:56 PM new
It's inconvenient to go get a MO,
No, its not. One can use bidpay and or payingfast.
http://www.payingfast.com/faq.htm
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awesomeagain1
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posted on September 10, 2002 06:40:49 PM new
I too had my account restricted for no good reason...They are a Bunch of idiots....We don't take paypal and will never.....We have a lot of people using Billpoint now.
I guess when Billpoint goes,they will use another online payment service...I am sure another online service will get popular.
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barparts
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posted on September 10, 2002 08:15:00 PM new
I know that c2it is climbing up in popularity. I don't personally use it, but will be doing some investigating about it. Anyone using it, please write in and let us know what you think about them.
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club1man
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posted on September 10, 2002 10:28:06 PM new
Seems like PAYPONZI isn't the only one got nailed Ebay has BIG problems
http://news.com.com/2100-1017-956638.html. I guess "birds of a feather" when it comes to stealing.
Remember the first commandment of the internet
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alwaysbroke
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posted on September 11, 2002 04:42:18 AM new
"One can use bidpay and or payingfast."
Payingfast Fees
Transactions up to $20 ---$ 2.99
Transactions from $20 to $100 ---$ 3.99
Transactions over $100 ---$ 3.99 + 2.25% of money order amount
-----------
I only pay 50 cents for a money order. This just wouldn't work for me unless I was homebound for some reason. It IS nice to know you can do it from home!
http://www.sparedollar.com/sdGallery/usergallery.asp?uID=2261
http://www.sparedollar.com?ref=2261
lurking is not an option
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Libra63
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posted on September 11, 2002 10:26:58 AM new
I use PayPal and the reasons are:
1. I am the only one that uses my computer.
2. I never go to another computer and log into PayPal or any other website that needs my password
3. I never give my password to anyone.
4. The credit card I use is only in my name.
5. I have a special checking account, in my name only that I use for PayPal and it isn't connected to any other bank accout.
6. I don't do business that requires charge backs.
7. I have a full guarantee on the products I sell, which includes refunding and also including refunding of postage.
8. I don't use drop shippers that can't be trusted. I mail everything myself...
I am sure that I will continue to use PayPal as it is very convenient
I am sure that there will be comments about this but go ahead. I have used PayPal for over two years with no problems because of the above.
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club1man
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posted on September 11, 2002 11:14:41 AM new
Hope I never have to say I told you so. I just got the final decission on my arbitration. PAYPONZI spent over 340k to try to get 18k out of me and they got 13k plus interest. Thing is they can't get that because they broke me.
Remember the first commandment of the internet
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fluffythewondercat
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posted on September 11, 2002 11:17:41 AM new
Libra63: No one has a problem with PayPal until they have a problem.
In other words, two months after I signed up with PayPal, I could have written what you did above.
Three months after I signed up, I was cursing, screaming and vowing, "Never again."
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Reamond
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posted on September 11, 2002 11:39:07 AM new
There is nothing a seller can do to prevent or protect themselves from someone using a fraudulent credit card to pay through Paypal. Your account gets frozen and Paypal still allows other buyers to send money to your acount.
This situation is such that the seller has no control over it.
Buyers that use Paypal have very little to risk.
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marcn
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posted on September 11, 2002 01:02:12 PM new
There is also no buyer protection. I used my credit card to make 2 purchases totaling $3200. I also sell in excess of $2000 per week most of which was paid through Paypal. I di not receive the merchandise I ordered and filed a claim with Paypal and had no luck. I filed a dispute with my cc company and they returned my money. About a month later Paypal restricted my account and made me pay the money in order to unrestrict my account. I had no choice as the incoming money was greater than the $3200 they wanted. I gave in and let them have the money and they unrestricted my account. Now justa few weeks ago, my cc company did further investigation and returned the money again. I am expecting my account to be restriced any moment again but 2 weeks ago I started stating "No Paypal" in my auctions. People are now paying with Billpoint. The credit card associated with Paypal was a Nextcard that was closed bythe FDIC and I have created a new bank account for eBay so Payponzi cannot steal what is mine. Another problem that just occured is I had a buyer pay nearly $80 for a purchase and they did not include the sales tax as required and I refunded their Paypal immediately. They paid a few days later with the tax and I thought all was fine. Today I get an email from the buyer saying they have not received the refund. Paypal told them Iaccepted both payments and there was nothing they could do. Yet I go to my Paypal transactions and it clearly shows the transaction was refunded and the money debited from my account.
Anybody that uses Paypal will eventually run into some problem or another.
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twelvepole
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posted on September 11, 2002 01:24:44 PM new
Libra63, that is nice that it is working out for you so far, however, I too had a special checking account just for paypal... to deposit in... I thought only to deposit in.
I did not keep money in the account, I had one an auction and gave my credit card info, however they decided on their own to try to pull the funds from my checking account, when I asked them about this, they told me it was thier policy, if verified, to take the funds from your credit account, this caused an overdraft in my account and so cost me money for the transaction.
SO I will NEVER use paysteal again!
Ain't Life Grand...
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stopwhining
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posted on September 11, 2002 02:32:22 PM new
i have been on ebay for 7 years and a few years ago i wonder if this person to person buy/sell will last forever??
as it turns out,prices keep getting lower and lower and many professional dealers are not willing to sell ,what will happen to ebay with all its fancy software which becomes more and more elaborate ,when the dealers with better merchandise are not willing to waste their time and money to list items which do not have their reserves met??
there is a cost to most of our goods,unless one steal it at work,what is the point of selling a postcard for 1.99 and pay 30 cents listing fee??
you see more and more of that low priced items on ebay??
on amzn chatboards,people keep asking why someone list a book for a penny,what do they get out of it??
one may also ask the same question on ebay,why are people listing many items under 5 dollars??or even 10 dollars??
what is the point??
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twelvepole
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posted on September 11, 2002 02:36:15 PM new
What is the point of your post stopwhining?
Ain't Life Grand...
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tomyou
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posted on September 12, 2002 02:50:04 PM new
84% of my auctions are $10 or under and I netted a $26,000 profit last year ( on just that 84%) and yes I keep very specific records. so I guess that is the point. the 0ther 16% of my items where between $10 and $400 and did not net me much more net gain than the under $10 bracket.I could break it down much more but the point seems to be clear enough.
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club1man
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posted on September 13, 2002 12:41:47 PM new
Another big story today and there's going to be one tomorrow. Could be ebay will decide different. Take notice about the exec's filling their pockets.
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2002/09/13/financial1213EDT0069.DTL
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