posted on May 1, 2001 10:12:40 AM new
Like many issues, Paypal has its fans and detractors. This forum functions as a place where both sides can voice their opinion or make their case. This forum is also a pulpit for Paypal, where Damon is given great latitude to espouse the virtues of his company while dispelling the comments of many posters as misinformation. I don’t blame DRB for picking and choosing his battles. Not everything can be explained away, minimized, or negated by spin.
Thanks to everyone that has supplied me with valuable information, from this forum as well as others. Not everyone within the Paypal organization has the same warm fuzzy feelings about the company as Damon.
If someone has information concerning Paypal, its partners, an ongoing investigation, or the like – please e-mail me at: [email protected]. No contributors’ identity will be revealed without explicit consent.
posted on May 1, 2001 10:33:36 AM new
Going to write one of them hit pieces?
While you're at it, make sure to include:
-Paypal's buyer protection plan is as clear as day. People don't read it, and assume it says something else. That's not Paypal's fault.
-Paypal locked accounts a year ago, but no more, unless there is strong evidence of fraud. Don't be making a new story from old news.
-Almost all paypal complaints to the BBB involve bad customer service, which has become a lot better lately, or idiots who send payment to the wrong address and then want to blame paypal. Investigate the BBB, see what THEIR agenda is.
-Nearly all active complaints here on this forum involve people who don't want to follow the rules. Paypal has rules. So does Wells Fargo. So does AOL. You want to read complaints? Read people complaining about AOL.
-Lots of people don't tell the whole story when they post here. They take payment from someone they knew, or should have known, was paying with s stolen credit card. But they don't tell that part of the story. They only cry about Paypal taking the money back.
posted on May 1, 2001 12:24:55 PM new
Lots of people who do have complaints get resolution to their problem, but never return to the message forums with info about how things were fixed, which gives a false impression that they are never fixed, or what caused them, etc.
posted on May 1, 2001 02:10:44 PM new
I am aware that:
Some complaints are from account problems originating from the nature of their business activities. For example, some non-traditional financial companies provide an electronic currency backed by physical metal stored in secured facilities. This type of businesses, often located off-shore, are prone to credit card fraud. Companies facilitating these e-currency purchases made by credit card have gone out of business because of a high rate of charge-backs. Often the views presented are one-sided due to DRB’s inability to address the specifics in a public forum.
· Some users experienced account restrictions due to transactions Paypal deemed suspicious but were easily explained. In some of these cases, Paypal failed to respond, offer an explanation, or resolve the matter in a timely manner. Upon conclusion, no explanation was forthcoming. In one particular case, documented extremely well, Damon was one of the many employees solicited for help.
· There have been occurrences where non-users have been defrauded by criminal activity utilizing Paypal’s services. Accounts were opened in the victim’s name and charges were posted to their banks. While the financial institution eventually refunded the persons account, Paypal was uncooperative with the local authorities conducting and investigation.
· Paypal is a privately held company offering none of the protections afforded banking customers and free from the regulations to which banks must adhere From their Terms of Use: “Not a Bank. You acknowledge that (i) the Service is not a banking service (ii) Service accounts are not insured by any government agency of any nation, (iii) the Service is not subject to banking regulations and (iv) PayPal will invest in liquid assets and that interest earned on those assets will be the property of PayPal”
QUESTIONS
· Paypal is an Internet company. Yet, Paypal refuses to accept customers using Internet Banks. Hmm, are they trying to imply that internet financial institutions are either not secure or not trustworthy?
· Besides fees, Paypal makes money using other people’s money? Are funds unavailable to users with restricted accounts earning money? If so, where doe’s this money go?
