posted on October 20, 2000 05:26:55 AM new
Another misleading ad from PayPal ... lying by omission is still lying!
PayPal:
- No fee for withdrawing money into your bank account.
- Credit card transactions under $15.00 are $.25.
- Credit card transactions over $15.00 are 1.9% + $.25.
(Omitted ... They charge the same fees for
ALL incoming transactions, even EFT and balance transfers! BillPoint does not charge CC fees for Electronic Checks, and the sweep fee does not apply to them either.)
Billpoint:
- 0.5% mandatory fee for withdrawing money into your bank account.
- Credit card transactions under $15.00 are $.35.
- Credit card transactions over $15.00 are 2.25% + $.35 (1.75% transaction fee plus 0.5% deposit fee plus $.35 fixed fee)
PayPal's Premier/Business account is still cheaper than Billpoint's lowest fee account.
(not if you add up the other fees ... if a person is paid by non-CC means they should not be charged the same as for CC usage.)
Notice they include PayPal's sweep fee in the comparison even though PayPal's is optional and Billpoint's is manditory. Also, they state PayPal's credit card fee (over $15) is 25c plus 2.5% instead of 25c plus 1.9%.
posted on October 20, 2000 11:06:08 AM new
BillPoint is very careful not to mention the chargeback fee or the method in which they obtain it either. Every business lies by omission.
posted on May 27, 2001 12:51:24 PM new
I am livid about a recent chargeback from Billpoint. I am a lawyer and I totally understood the risk of chargeback when I used the Billpoint services. But NEVER did I expect that Billpoint would provide me with a false name -- a name which had nothing whatsoever to do with the name of the credit card holder. In fact, I am not even sure how that is possible. But I know it was wholly negligent on Billpoint's part. I know that it was a risk I never agreed to take ...
The below email correspondence should speak for itself (and I would love to hear from you). My email address is [email protected]
--
Subj: Re: Unauthorized Purchase Attn: Matt
Date: 05/16/2001 3:15:35 PM Eastern Daylight Time
From: Sefemma
To: [email protected]
Dear Matt:
Well, thanks for your nice note.
I do think it's "funny" for you to call me "a merchant" though. The real merchant here is Billpoint (part of the bigger Wells Fargo).
And, I am a lawyer. I read the user agreement. And, I understand that when I sell on ebay (a HOBBY) and use Billpoint (which I actually try to avoid), I accept some risks. But, again, I never never accepted a risk with a person named Cynthia Donaldson. I accepted a risk with a person named Darrel Kennedy -- the name which Billpoint provided to me -- and as to that name and address, I was able to satisfy myself from other sources of the "match."
I am surprised Billpoint continues to avoid responsibility for providing me with a false name. It's simple. Had Billpoint given me the correct name on the card, I NEVER would have been able to verify the address to that name, and I NEVER would have sent.
I think Billpoint has acted incredibly negligent and irresponsibly. I think Billpoint's taking my money (and then some !!) after giving me such FALSE information constitutes an unfair and deceptive practice. Since your company seems unable to accept it's more than substantial role in my loss, I will pursue the legal options as I feel strongly about this.
(Just so we're clear, if Billpoint had provided me with the REAL name of the credit
card owner, I NEVER never NEVER would have sent and suffered a loss. Under the circumstances, I am somewhat amazed by the corporate response).
Regards
Sharon Feigenbaum
-----
In a message dated 05/16/2001 2:53:04 PM Eastern Daylight Time, [email protected] writes:
I read your email and I understand your concern regarding this matter.
Chargeback liability is a fact of life to merchants who choose to accept
credit cards. The fact that the seller is ultimately responsible for all
chargebacks is clearly stated in our User Agreement. Consumers have enormous
confidence in credit cards and have come to use them extensively, especially
for purchases over the web. This confidence has resulted, in large part,
from the many consumer protections that generally give the cardholder the
benefit of the doubt- chargebacks being one of those protections. The vast
majority of consumers do not abuse this situation. Unfortunately, there are
always a few who do stretch the boundaries. Billpoint does its best to act
as a fair and neutral third party in mediating these tricky situations, but
the final decision is made by the card issuer.
Should you have any other questions or comments regarding this matter,
please contact us at [email protected].
