Not So Hot Deal - Paypal Fees

[Freekylink]

Where does Paypal list their fees they are charging now every time you receive a payment? Paypal was a good deal, but things are changing.

 

[greg]

You think that's bad...be VERY CAREFUL that you follow every detail of their TOS. OR you'll risk one of these emails:
**********************************************************
Subj: PayPal Account Review
Date: 10/6/2000 6:52:23 PM Eastern Daylight Time
From: service@paypal.com (PayPal Customer Service)
Reply-to: service@paypal.com (PayPal Customer Service)
To: Ggeorge2000@aol.com

Dear Mr. George,

In order to retain the funds from a fraudulent payment that you
received from XXXXXXXXXX, PayPal must withhold $488. from
your PayPal account balance. However, the funds currently in your
PayPal account are insufficient to cover the full amount of
fraudulent funds. We have deducted $00.00 from your current
Paypal Account Balance and would need the remaining $488.00
returned to your Paypal account.

Please send the necessary amount to us via check, money order, or
by an electronic transfer to your PayPal account. If you are
paying by check or money order, please make it payable to
PayPal/X.com, and send it to: PayPal/X.com, PO Box 50185, Palo
Alto, CA 94303. In the meantime, your account may be restricted
if you are not a verified seller.

Please note that the withholding of funds is in accordance with
our Terms of Use, Section IV, Paragraph 3:

"X.com agrees to indemnify sellers for charge back liability
resulting from buyer's fraudulent use of a stolen credit card
and/or false claims of non-shipment of goods for purchases made
through the Service for up to $5,000 per year when the following
conditions are met:
a) The seller is Verified;
b) The seller can provide reasonable proof-of-delivery which can
be tracked online. (Most U.S. carrier companies offer this
service, including the U.S. Postal Service.);
c) The seller accepted payment from only one PayPal account for
the purchase. (Multiple payments from different accounts for a
single item are a fraud indicator. Sellers should not accept such
payments.);
d) The seller does not ship internationally (when X.com releases
international payments (coming soon), this rule will be replaced
with a list of approved countries)."

If you feel you have met all the above conditions, please send
all information regarding this transaction to
chargebackappeal@paypal.com.

In the future, you can protect yourself against fraudulent buyers
by following the conditions of our Seller Protection Guarantee.
For full details, please visit our Terms of Service at:
http://www.paypal.x.com/cgi-bin/webscr?cmd=p/gen/terms-outside

Sincerely,
PayPal Account Review Department
PayPal -- A Service of X.com
*********************************************************

Basically they are saying that if I didn't quickly pull out my cash, they'd keep it. Be careful. Get verified.

 

[ride525]

Greg,

What happened that caused Paypal to issue such a letter?

 

[Denogginizer]

My bet would be exactly what it says in the letter, that someone paid him with a stolen credit card. Do you actually expect PayPal to just shrug it off and take the hit? Under all other merchant account systems that I know of, including BillPoint, the merchant (or "receiver of funds&quot would have just been debited the amount of the sale without much chance for recourse. At least with PayPal, if you are verified and have proof of delivery, you can get PayPal to pay the chargeback or stolen credit rather than yourself.

Of course, since PayPal isn't linked directly to a banking account with full deposit and withdrawal access, unlike BillPoint, they can't just take the money right out of your account. So they have to send a pretty silly, threatening-sounding e-mail to get their money back .

Hey, as long as you have proof of delivery and are verified, you should be fine, right? PayPal's new "customer protection" guarantee was pretty clear that this would be required for you to be protected from scammers and chargebacks.

 

[greg]

>>Hey, as long as you have proof of delivery and are verified, you should be fine, right? PayPal's new "customer protection" guarantee was pretty clear that this would be required for you to be protected from scammers and chargebacks.

Righto, I don't fault paypal in the least, I just wanted to give people a heads up in case they were not verified.

ps--exactly, I sold a digicam on e-bay to someone who SUPPOSEDLY used a stolen card. However, I have proof of delivery, his name, and a stable phone number. Called him, he has no idea what's up.

 

[Freekylink]

Yes, but where is the page listing the fees charged by Paypal.

 

[Freekylink]

Never mind. I finally found it.
Paypal Fees

 

[Mookie]

Freekylink,

The fees on your link are for Business and Premier accounts only. Personal accounts are still fee free. BUT.... paypal recently put a cap of $500. received through a personal account every 6 months. If you go over then you must switch to a Business or Premier account and thus the fees take affect. So if you don't receive a whole lot, less than $500 every six months, it's still free. Of course this will probably go by the wayside before long.

Mookie

 

[Baileys]

Someone message me in Internet Relay Chat the visa account of a Paypal user and al her information. I think we should reconsider paypal.

P.S. I'm closing my account now.

 

[Josh]

<< Not So Hot Deal >>



If &quot;not so hot&quot; then why posted in &quot;hot.&quot;

 

[moose21218]

dude...thinking about closing my paypal acc now...

 

[db]

Well, it *does* look like first x.com and soon paypal both is suck (tm).

 

[Onepotato]

Believable... I've read in other post Paypal has been locking up accounts. Seems that if you receive funds from people in some manner &quot;unwritten in Paypal's policy&quot; they may call it &quot;unusual&quot; and lock your money up. Then it seems you can spend days not getting a response from them.

 

[chiwawa626]

rite now i got 200 bucks paypal in my account, what happens to me, do i get charged to get a check, or do i get charged when i get or spend money?