Originally posted by: Vic
Paypal is an illegal unregulated, unexamined bank and escrow service that masquerades as a payment service. They can seize your money and freeze your account and you will have no recourse.
Very true.....they aren't a "bank" and have no banking regulations they have to
observe.
My biggest problem with paypal is that they act like they are a safety net aganist
fraud and they aren't.
If you get ripped off by fraud while using their service you are still ripped off.
Example....
If you buy a laptop on ebay and pay let's say $600 for a P4 and the seller ships
you a Pentium 233 laptop and you file a complaint to paypal about the transaction
they will ask the seller to provide some form of trackng and once they see
that the "item" was delivered paypal is out of the equation. They make no guarrantes
or warrantees about the condition or quality of the items involved. But they would
have you believe that they are fighting fraud which they are not. Your only hope
is to use your credit card for paypal purchases and if you get ripped off by a paypal
seller you can dispute the charges (which paypal says you can't do but you can).
Been there and done that.