| Author |
 Replies: 45 / Views: 5,655 |
|
|
|
Forum Dad
 United States
24170 Posts |
Quote:
I don't find it ridiculous. PayPal is technically able to transfer funds arbitrarily from any linked bank account. No they're not. They cannot take anything from your bank account that you don't authorize. |
|
Valued Member
United States
333 Posts |
I can't see how they would be able to, unless for some reason you were abusing the gift system and didn't have enough paypal money to cover the back fees. In that case it would be alright, IMO, but I don't know if it is in the contract/legal.
I'm not a fan of paypal to begin with. As long as I'm buying a coin and I'm not in a hurry to get it, I will send a personal check or a money order from the post office. Money orders cost $1.50 and the postage/envelope is another .50. As long as the transaction is over $70, it is cheaper than a legitimate paypal transaction.
|
|
Forum Dad
United States
24170 Posts |
They used to do it years ago. For example, used to be if someone paid you with a CC through Paypal, then did a chargeback through their CC Company and you had no money in PP, they would yank it back from a connected bank account. They have not been allowed to do that for many years, although tons of people still think they can since it happened in the past.
|
|
Pillar of the Community
United States
1080 Posts |
Quote:
No they're not. They cannot take anything from your bank account that you don't authorize. I've had my account hacked before. PayPal caught it, but it was a couple of days before I got my money back. |
|
Pillar of the Community
Canada
1733 Posts |
I'm Canadian, there's been no rule modification here for this. It's Paypal Canada, they can and do still do it. This is why they established a legal entity called paypal Canada.
BUT... you can send an email money order from one bank account to another for only 1 dollar via interac...
Paypal is old news.
|
|
Bedrock of the Community
United States
19963 Posts |
I've been using PP since it's inception, it used to be totally free for everything. I remember seeing an interview with the CEO and he said they made their money off the float so they didn't need to charge a fee. Of course, some years later, they figured out they could make a lot MORE money by charging fees.....then ebay bought them and increased the fees more. I'm not surprized at this email, I've done my share of personal transactions and I don't feel bad about it. They get more than their fairshare of money from me. A few personal transactions aren't going to put them in bankruptcy. I suspect where they get upset is from users that dodge ALL of their fees. I've never received an email about excess personal transactions.....and I suspect that is because they've collected a boat-load of $$$ from me on the other transactions. On the flip side, tell your "personal" tranaction buyers to NOT leave an address or other notes when they pay you. This is all easily tracable. LEAVE THE FIELDS ALL BLANK, JUST TRANSFER THE MONEY. When they write in the notes field "payment for expensive coin, ship to XXX", you're as good as busted. Without any additional info, you can plead the case that you snail-mailed them a cash loan and they paid you back by paypal. With coins, in essence, that is really not far from the truth. However, I cannot condone this if you never pay any fees to paypal. Afterall, they are in business to make money. You should allow them to make something off you for their services. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
|
|
Valued Member
United States
384 Posts |
 with BadThad. |
|
Pillar of the Community
United States
1080 Posts |
Quote:
tell your "personal" tranaction buyers to NOT leave an address or other notes when they pay you. This is all easily tracable. LEAVE THE FIELDS ALL BLANK, JUST TRANSFER THE MONEY. When they write in the notes field "payment for expensive coin, ship to XXX", you're as good as busted. This. |
|
Bedrock of the Community
United States
10982 Posts |
Quote:
I'm not surprized at this email, I've done my share of personal transactions and I don't feel bad about it. They get more than their fairshare of money from me. A few personal transactions aren't going to put them in bankruptcy. I suspect where they get upset is from users that dodge ALL of their fees. I've never received an email about excess personal transactions.....and I suspect that is because they've collected a boat-load of $$$ from me on the other transactions. - BadThad
I could have written this paragraph. I'd estimate PayPal gets close to 2% of my total transactions in fees. I've averaged running about $5K/month buying and selling through PayPal in the last few years, so that's $100/month in fees, and I have never gotten a threatening e-mail either. I don't try to jack them out of their fees but do use "Personal" a couple times a month. I wish they offered a $0.30 + 1% (with a $2 min) purchase method when funding the transaction with cash but they don't. |
|
Pillar of the Community
United States
2589 Posts |
Poor Elon Musk, causing havoc in every industry he enters. First the electronic fund transer market, then the automotive industry, now hes even dipping his hands into government subsidies for the International Space Station through his company Space X. What and entrepenuer indeed!
-XoG
|
|
Pillar of the Community
United States
3592 Posts |
Some interesting comments,what I'm getting out of it is: It would be OK for me to shoplift a few things from my favorite store because they make enough off me the rest of the year  |
|
Bedrock of the Community
United States
14454 Posts |
Quote:
Some interesting comments,what I'm getting out of it is: It would be OK for me to shoplift a few things from my favorite store because they make enough off me the rest of the year That is exactly how I feel, if you do a person transaction to get around a fee even once you are doing wrong no matter hoe much you have paid in to them in the past. they deserve their fees each time you are making money off of a sale because that is what they charge to use their service, if you do not want to pay the fees each time you make a sale don't use their service. Any time you do use personal payments on a sale you made you are just as guilty as the person that does it each time no matter how many times you have paid their fees I have said this since the first time I saw someone on this forum saying they accept paypal mas long as they use the "gift option" or pay their fees (which both is against their rules). I even brought this up about a year or so ago in a staff conversation because I don't think this is the type of behavior we would like our members to participate in. It is just like stealing money out of the owners pocket, if you wouldn't go up to that person and hold a gun to his head to get those fee's given to you out of his pocket why do you think its ok to try and get around to get those fees they charge any other way? Its just pretty stupid in my opinion and my only thought is sooner or later anyone that does anything like this to save a couple bucks will sooner or later end up paying more for something else down the road but they may ruin it for everyone that uses it the way it is supposed to be used and may not be able to t5ransfer money to their college student that needs extra funds for the month or someone that needs top borrow money for a week or so and lives many miles away |
|
Pillar of the Community
United States
2049 Posts |
Quote:
Some interesting comments,what I'm getting out of it is: It would be OK for me to shoplift a few things from my favorite store because they make enough off me the rest of the year Quote:
That is exactly how I feel, if you do a person transaction to get around a fee even once you are doing wrong no matter hoe much you have paid in to them in the past. they deserve their fees each time you are making money off of a sale because that is what they charge to use their service, if you do not want to0 pay the fees each time you make a sale don't use their service. Any time you do use personal payments on a sale you made you are just as guilty as the person that does it each time no matter how many times you have paid their fees Agree with both points. I am disappointed that some of our longstanding respected members would think it's ok to find a way around the fees, whether it's once in a while or all the time in the interest of saving a few bucks. It's shady and there is nothing anyone can say to convince me that it's ok in certain situations. You're using a service and should pay for it, plain and simple. Paypal isn't there to provide a free medium for people to send money from one to another for a purchase. Ok, my rant is done....lol. |
|
Pillar of the Community
United States
2589 Posts |
No bank charges for eft transactions, so why should paypal? Imagine if you had to pay a fee everytime you paid a bill using online banking. How rediculous would that be? Paypal gets away with it though, and as other have said before they already make a killing off of the float alone.
|
|
Bedrock of the Community
United States
14454 Posts |
Quote:
No bank charges for eft transactions, so why should paypal? Imagine if you had to pay a fee everytime you paid a bill using online banking. How rediculous would that be? Paypal gets away with it though, and as other have said before they already make a killing off of the float alone. Well start your own business doing the same thing and do not charge a fee then but if you do and chose to charge its up to you since its your business and you can charge what you want to charge, same with paypal if you use their service they started you should pay their fee they charge to use it just as you would want people to pay you the fee you set up if it were your business. If you want to start your own and just make money off the float that is fine but if you don't like the fees do what you do with everything else you feel is overpriced, don't use it. I am sure if a store charges more than the store next to it that first store wouldn't do very much business but it still wouldn't be ok to go in there and help your self to a pack of gum every month just because you you find their store more convenient just like paypal is more convenient than money order or check |
| |
Replies: 45 / Views: 5,655 |
First Page
Posted 05/14/2011 11:52 am
