posted on October 5, 2000 05:03:35 AM new
""Not too long ago I cleaned out my closets and decided to list a few items for sale on eBay. I didn't want the hassle of taking personal checks for payment, so I signed up for a FREE account at PayPal. Instead of waiting for the buyer to obtain a money order or cashier's, I can access my payment immediately."
-Debby is a secretary for a small company
Nowhere is there any mention of Debby having to become a "business" when the number of incoming CC payments for her closet cleanings exceeds $500 ... or of the 1.9% that she will then have to pay on EVERY FRICKING INCOMING TRANSACTION REGARDLESS OF SOURCE!
I have no problems with PayPal revocering the cost of CC transactions, but they are inflicting the CC charges onto ALL TRANSACTIONS INTO A BUSINESS ACCOUNT REGARDLESS OF SOURCE ... If Business A is beamed $100 and then uses that account balance to send to Business B, etc. ... within a very few transactions, PayPal has siphoned off 15-20% of the money and it never left their system, nor incurred any expense beyond a few CPU cycles. Just take any sum and divide by 1.019 repeatedly to see how much can be siphoned off in a few transfers.
