posted on April 4, 2001 04:20:33 PM new
The debit card is a relatively recent product addition and there is still a fair number of questions attached to the item. I am going to explain some of them here to assist posters and "lurkers".
1. Why do I have to provide my Social Security Number to the PayPal debit card?
The contract with the debit card vendor requires that we get a Social Security Number before a card is issued and activated.
2. Why do I have to enroll in the Money Market to get the PayPal debit card?
The cards have to be attached to a regulated item, which the Money Market is. The added benefit is that dividends are paid on balances in your account. Should you not want a PayPal debit card, but you still want to take advantage of the Money Market, you will need to provide a Social Security Number. This is a requirement due to goverment regulations about reporting dividends.
3. What benefits do the debit cards provide?
a) Faster access to money. Users can withdraw their money without waiting several days for an ach transfer to appear in their bank account and they don't have to wait a week or more to get a check. Debit card users can use the card wherever the MasterCard logo is present.
b) Users can:
-. Pay auction listing fees
-.Buy supplies
-.Buy postage
-. Withdraw money quickly.
(all of the these transactions are viewable in the downloadable logs, which could come in handy for those doing a fair amount of bookkeeping (for their business or tax purposes).
c) Users that are PayPal Preferred can earn cash back in their account by using the card for purchases. The cash back appears quickly in your PayPal account (basically, once the item settles from the place you purchased the item at and it hitting our system). More details can be found on the web site for the PayPal Preferred Program or you can ask me here.
4.How do I get one?
a) There is a link on the web site that provides the details and allows you to apply for one.
b) Users that did not receive one in the mail, or that do not see or can't find the link on the web site for an application, can send their requests to : [email protected].
5. Are debit cards available to international users?
No. The demand has been made known, but I am not sure when, or even if, that capability will become available to international users.
6. What kind of account do I have to have?
The debit card is available to Verified Premier and Business accounts.
This should handle many of the questions relative to the product and I would like to invite users to ask me any questions here.
posted on April 4, 2001 08:17:23 PM new
That is a blatant advertisement.
Anyway, you forgot to mention:
"PayPal will charge you $1.00 per ATM withdrawal. This is in addition to any fees that may be charged by the ATM network. However, if you use your debit card to pay for at least $100 in purchases per month, PayPal will refund you up to $3.00 in ATM fees for that month."
Also, and these are my words, beware of accepting a debit card with a Visa or MasterCard logo. If you lose the card it is much easier for someone to go on a shopping spree than if you lose an ATM card that can only be used with a PIN.
While you will be somewhat protected against fraud under the Electronic Funds Transfer Act, this doesn't mean the money that was in your account magically reappears right away if your card is lost or stolen. You may have to wait while the claim is investigated.
PayPal's Help Center is shockingly lacking on information warning you about your potential losses with a debit card.
This is an excerpt from the FTC site:
ATM Card Loss. If you report an ATM card missing before it's used without your permission, the EFTA says the card issuer cannot hold you responsible for any unauthorized withdrawals. If unauthorized use occurs before you report it, the amount you can be held liable for depends upon how quickly you report the loss. For example, if you report the loss within two business days after you realize your card is missing, you will not be responsible for more than $50 for unauthorized use.
However, if you don't report the loss within two business days after you discover the loss, you could lose up to $500 because of an unauthorized withdrawal. You risk unlimited loss if you fail to report an unauthorized transfer or withdrawal within 60 days after your bank statement is mailed to you. That means you could lose all the money in your bank account and the unused portion of your line of credit established for overdrafts.
If unauthorized transactions show up on your bank statement, report them to the card issuer as quickly as possible. Once you've reported the loss of your ATM card, you cannot be held liable for additional amounts, even if more unauthorized transactions are made.
posted on April 4, 2001 08:27:18 PM new
Hi loggia,
I still field numerous questions on this item and I condensed it into an item that would tackle most of the concerns.
This may make more sense than tackling 25 separate inquiries about the same issue.It also explains a fair amount of information about the why on issues that customers inquire about.
Please note that I also put together a great deal of information about charge backs in another thread (because this is a concern of users of the service).
I am generally running 70 or more posts per day (all forums) and I am answering between 50-300 individual emails for users in the forums and I am trying to get the information out, while also minimizing the delay in getting answers out.
posted on April 4, 2001 08:38:27 PM new
Paypaldamon, you managed to include the benefits but none of the drawbacks. I call that an advertisement. I frankly can't believe the moderators let you get away with that. Are you saying people on this board don't want to know about the $1 withdrawal fee? Please.
Anyway, you may have missed what I added in my edit. You should have PayPal add that to your Help Center...
posted on April 4, 2001 08:53:07 PM new
Hi loggia,
To be honest, I wrote that item at 12 midnight the previous day so that I could condense it. I would be more than happy to edit it, but I was trying to answer the questions most commonly posed by users.
If I was truly trying to advertise, I'd be throwing it all over every forum, when I basically placed it in the PayPal forum as a Q and A.
The terms of use do show the charges applicable to atm withdrawals and the information about a lost card is present. I would be more than willing to post that as well.
The information on charge backs is pretty solid as well, and it is no different than what I have done in the past regarding some issues (like fraud,etc). However, most of the time these posts do not generate discussions and users focus on some of the more negative threads which focus on problems.I am trying to show the users of the service how not to have issues and how to get an answer without a delay.
posted on April 4, 2001 08:54:43 PM newloggiaPayPal's Help Center is shockingly lacking on information warning you about your potential losses with a debit card. This is an excerpt from the FTC site:
I'm not sure why you went to the FTC site for that info. If you will click on this link PayPal/MasterCard Debit Card Terms of Use and scroll down to Notice Of Your Rights And Liabilities you will find the same text almost word for word. Maybe you were wrong about PayPal 'shockingly lacking on information'?
I've used my debit card since Feb 4, and I've yet to take any funds out of an ATM matchine, if I need pocket cash just about any store will give me that, Walmart will give me up to $100.00 over my purchase price, no ATM or PayPal charges for that either.
Nope, I don't leave my debit card laying around, I don't leave my checkbook laying around, and I keep my car keys with me.
I think there's a lot of folks using debit cards judging from the terminals at every checkout counter I've been to in the last couple years. Debit cards aren't new.
posted on April 4, 2001 09:14:45 PM new
No, Uaru, I wasn't wrong. I said lack of information in their Help Center.
That's where PayPal unfortunately chose to emphasize some of the information about the debit card and not other information.
Most consumers do not read through text-heavy TOS and that is why companies often put the less compelling information there.
Paypaldamon, I do not know what you are talking about concerning chargebacks as I have not mentioned that in my posts.
Simply putting information in your TOS is the absolute minimum. If you care about your customers, you'll make your Help Center more helpful in this regard.
posted on April 4, 2001 09:46:02 PM newloggiaNo, Uaru, I wasn't wrong. I said lack of information in their Help Center.
ah... my misunderstanding. They way you posted you had to go to the FTC for that information led me to believe you didn't think it was on PayPal's site. If you open the TOS there's a link to the debit card terms of use. I believe you also have to acknowledge you've read that before you activate your card (been a couple months since I did that).
I never realized that debit cards worried people so much till PayPal offered one. Like I said before it's hard to find a checkout that doesn't have a terminal for debit cards. I thought debit cards in the US were a fact of life, suddenly there are several posts warning against them.
Later this spring PayPal's slated to offer credit cards, I'm sure there will be new eye opening 'dangers' of credit cards when that happens.
posted on April 4, 2001 11:49:31 PM new
Hi loggia,
Thanks for the feedback. There is a Charge Backs thread in the PayPal forum that is fairly informative and inclusive. It includes the basics of what a charge back is, how a user can be protected from them, and what our policies are.
There is going to be a revamping of the web site to assist users in finding information easier. We are also looking at a software option that will help search for answers quickly (with some AI functionality). I believe this option is being tested still.
(I have also typed up something to help users contact customer service efficiently.This could help increase the speed of response and the quality of answer for many inquiries.)
Please feel free to come at me with any questions---If I don't know the answer---I will track it down.
posted on April 9, 2001 12:53:31 PM new
I figure this is soon to become a commonly asked question.
Why does paypal need my password to check my listings if I want to get that 1.5% debit card deal ?
Last I looked you didn't need a password to do a listings spot check.
posted on April 9, 2001 01:33:06 PM new
Hi garagesale,
I am not sure why you are referencing the passwords and the debit card in the same sentence. These are distinctly different items, other than the fact that logo insertion requires the password to include them in the auction listings.
posted on April 10, 2001 11:52:49 AM new
damon - my point exactly
However when I went in to sign up for the 1.5% cashback deal, the signup form asks for my eBaY password.
(from the sign up page)
To enroll in PayPal Preferred Rewards and earn 1.5% cashback, enter your eBay user ID and
password below.
Your password will remain secure and PayPal will use it only to
search for your auction listings.
[ edited by garagesale on Apr 10, 2001 11:58 AM ]
posted on April 10, 2001 12:02:51 PM new
Hi garagesale,
The password is needed in order to insert the logos. This information is only processed with the user consent and it is not used for any other purpose.
posted on April 10, 2001 12:08:41 PM new
Damon,
So the only way I can qualify for the 1.5% is to have paypal insert the logos ?
My putting them in myself isn't good enough ?
posted on April 10, 2001 12:21:17 PM newThe password is needed in order to insert the logos. This information is only processed with the user consent and it is not used for any other purpose.
Except when they have a new service and they use it to get the e-mail addresses of all your winning bidders to spam them to use PayPal to pay for the auction and they do not even include the correct amount to pay.
How soon they forget. The satement is probably true now after they did that a few weeks back and got several people (using a mild term) mad as all H E Double hocky sticks.
posted on April 10, 2001 02:15:20 PM new
Hi garagesale,
Will check. As long as PayPal is the only option listed in the auction(s)---I don't see a large issue (and you meet all the criteria for being PayPal Preferred).
I was wondering what the concern was about supplying the information? Auction management tools do require this information to do the actions that you request.
posted on April 13, 2001 01:32:13 PM new
Just two questions:
First, can you expand on the "Paypal Preferred" program? I'm sure it's been discussed in detail before, but I can't seem to find any threads with the details.
Also, you mention the requirement for a Social Security Number. I'd assume that businesses with an Employer ID Number are able to use that instead? I used my EIN for the Money Market account, and it would make sense that it could be used for the debit card as well, but I just wanted to verify.
posted on April 13, 2001 01:36:51 PM new
Hi thompjo,
The basic information is here. You will also see a link on the site after you log in to your account.
PayPal Preferred:
Save over 70% of your PayPal fees by becoming PayPal Preferred!
How do I become PayPal Preferred?
1. Sign up for the PayPal debit card. (this does require the Money Market).
2. Advertise PayPal as the only online payment option on your eBay listings.(you can place whatever you desire in your EOA notices, but the listing has to mention only PayPal for on-line payment services)
How do I save on fees?
Just use your PayPal debit card. You'll get 1.5% cashback on purchases. It's like an instant refund of over 70% of your PayPal fees (purchases are defined as non-pin transactions using the debit card---this does not apply to atm withdrawals)
I do believe the EIN will work for businesses instead of an SSN.
