Paypal, How's this work?

[Ian UK]

Hi All

I am sure most of you are familiar, if not sick of Paypal fees, but heres a serious question that always puzzles me.

I buy something off you, Paypal fees off your end INSTANTLY :eek:

You buy something off me, Paypal fees off my end INSTANTLY :eek:

I have some money to transfer from Paypal back into my bank account

7-9 DAYS? :mad: :mad: :mad:

[tonydahose]

yeah it blows but it is easy, i don't know what else to tell you.

[ozspyder]

LOL !

It's a rort for sure..... like a bank, only it's owned by 1 organisation. A power unto themselves and they make the rules so that when we all play in the No1 auction site in the world we again play by their rules ....as the same organisation that owns Paypal also owns eBay !

They make fees from using Paypal, and from selling on eBay, then when you want to take the money out, you get slugged again...to take your OWN money back after you loaned it to them ! wreaks of double dipping to me...... BUT it is convenient, fairly universal, and probably the way of the future.

[tonydahose]

i just remembered this, if you are using paypal to buy stuff use your credit card to pay them, then paypal has to bite the percentage that the CC takes :D , another thing doing it this way is that you have another recourse in case someting goes bad, first you file with paypal and if they say no then you file with your credit card which usually takes your side more often than not. it has worked for me before. i filed a complaint because a product i bought hadnt come yet. when it did finally arrive it didnt work but paypal said you only get to file one complaint per item so i was SOL. my CC fixed it for me though.

[Ian UK]

Yes Guys I think we all tolerate it because when dealing internationally it is EASY but on e-bay they get 3 bites of the cherry, as Datan said they own e-bay so you pay for ...

Listing

Selling

Paypal

Nice work if you can get it, but until something or someone better comes along (and I can't see it now) we are stuck with it. :mad:

It still dosent answer the 7-9 day question my only conclusion is

The computer that takes money is a quad core 4Gb $20,000 piece of kit.

But the one they use to return your money is an old commodore 64 with cassette drive...lol. :confused:

They in fact are now trying for that elusive 4th bite of the cherry (perhaps even to suck the pip dry) your lost weeks interest while still in their account.

[AllenETreat]

try "eBay recurring seller fees" on for size!

as eBay & PayPal are one, and your bank / checking account is hooked into
PayPal if there's any money in your account they just take it ( all of around
$18 if I remember ) and keep taking it as it's "recurring"......

I'm lucky I'm broke most of the time!

BTW : used to be 4-5 days for money back into one's account

AET

[bh49]

I buy something off you, Paypal fees off your end INSTANTLY :eek:

You buy something off me, Paypal fees off my end INSTANTLY :eek:

I have some money to transfer from Paypal back into my bank account

7-9 DAYS? :mad: :mad: :mad:

The first of all, e-bay, paypal do not have any competition, so they can charge almost as much as they want.
The second, the most of merchants when you buy, they charge your cc right away, but if you return, you get you money within one or two billing cycles.

[AllenETreat]

!!!BOYCOTT PAYPAL!!!


...it's the right thing to do...

AET

[rlw1979777]

I agree its absurd Ian. I believe they are taking the Communist approach to using other peoples money. I have sat down and thought it out, whatever you sell on Ebay, you end up paying between 9 and 16% in fees. No competition, and of course, everyone wants a tid bit of it. At least when I use my AMEX, they have to eat more then 3%. My way of fighting back. Plus, I have never had a problem with them charging me to take money out, since I also have the debit card. Which then it works quite well, since when I use it, no fees... Also I am a preferred member, so I pay more I think in fees, but none to withdraw.

[jujigatame]

Ian, regarding the time difference between charges and credits I can tell you this: pretty much any credit/debit/prepaid card or payment service such as Paypal will have language in their cardholder/user agreement that says they will apply charges and credits to the account in the manner most advantageous to them. This is outside of any policies that banks and merchants may have in place which could affect the transfer of funds. It's nothing new on Paypal's part.

[Ian UK]

I know they will have themselves covered in the small print and in fairness its not just paypal who take instantly and refund monthly.

But it would be a nice jesture if they played fair, you never know someone else may come along and set up in competition, if they had the funds they would only need shave a few % off each transaction to make the majority of us switch pretty **** quick.

[zenheretic]

snip....The second, the most of merchants when you buy, they charge your cc right away, but if you return, you get you money within one or two billing cycles.

That is quite odd, everything I return is instantly returned to the credit card. Someone is boning you sir. :mad:

[zenheretic]

I try to use paypal and ebay as little as possible anymore, as they are both anti-gun and by extension, anti-knife. You poke around a bit you'll read of accounts being frozen just because they don't like what you may be selling...even if totally legal.