SICK AND TIRED OF PAYPAL FEES? NEW SERVICE FROM YAHOO! IS GOING TO MAKE PAYPAL SQUIRM!

[sphereman]

yes, C2IT rules!! i hate paypal but they got a head-start and they have much more customers than any other services.
we should all promote c2it so they have as many customers as paypal soon.

 

[GetReal]

Anyone receiving funds via Yahoo PayDirect, BillPoint, unconfirmed PayPal members, c2IT, etc.. is simply gambling with their funds. Sooner or later you will get burned! Our own Justice Dept estimates as many as 40% of transactions through these services involve some level of fraud by either the sender or receiver. Crooks know how to exploit the flaws in these services! In most cases, you will not know for months that you have been burned. Credit card chargebacks take on average 3-4 months to process and appear in your account. All of these services above with the exception of a PayPal Premier account shipping to a confirmed shipping address pass 100% of the liability to you and it is 100% legal. With the Paypal Premiere account you are still paying the price of fraud in the service fees that they charge to cover their insurance policy from travelers Insurance. Even if you have already withdrawn the funds from your account with one of these services via ACH/Direct back transfer or via a check, in the member agrements for these services, you authorize them to make withdrawal adjustments in the event of a chargeback ofr disputes.

 

[xcela]

I agree with GetReal. C2it is free for the first month (three months back in june) and after that, you have to pay FEE. Yahoo Paydirect limits is $1000 a month and does not offer any protection for fraud. (like what can you do if you're FRAUDED, contact the police. What are they gonna to do, write a report and that's pretty much it.) Paypal Premier account does offer Protection but they charge too much for transaction fee. Yahoo Paydirect is not NEW. I would just either accept Money order, cashier check or Paypal Premier account for protection.

 

[Maetryx]

Mabye I'm being too simple, but PayPal is in my personal top 5. It's simple, universal, cheap. Do you guys remember buying on ebay *before* PayPal? I was going to the bank to get cash, then getting in a long line at the Post Office to buy a money order, and then mailing the payment (or going home to get the mailing address because I forgot to bring it with me) and then waiting for 3 to 5 business days for them to get my payment.....

PayPal cuts *days* off of the transaction time. Hell, sometimes I *don't* bid on an auction because the seller doesn't take PayPal. I make sure to get a PayPal icon in every ebay auction I run.

 

[Justincase]

>>>I agree with GetReal. C2it is free for the first month (three months back in june) and after that, you have to pay FEE.<<<

If you're a sender, yes. If you're a receiver...no fee.

 

[Justincase]

>>>Mabye I'm being too simple, but PayPal is in my personal top 5. It's simple, universal, cheap.<<<

Depends what you are comparing it to. PayPal is MUCH more expensive than some other solutions...and slightly cheaper than BillPoint (which also sucks hard), MoneyZap (which thankfully has merged into Achex - which is free) and Western Union (high fee to sender, no fee to recipient).

I remember when one of PayPal's big selling points was that it would always remain free to individuals, but PayPal has made it progressively HARDER for 'the little guy' to remain at the Personal Account level, even as they have gained tremendous numbers of members. Elon Musk (I think that's the name of the owner) is a greedy little b*stard.

 

[rtool]

CC payments will no longer be available to Personal (free) accounts, effective Nov 6, 2001. (See Policy Updates after logging in)

 

[dentalboy]

paypal sucks, poor customer service, yahoo to yahoo

 

[GetReal]

remember when one of PayPal's big selling points was that it would always remain free to individuals, but PayPal has made it progressively HARDER for 'the little guy' to remain at the Personal Account level, even as they have gained tremendous numbers of members. Elon Musk (I think that's the name of the owner) is a greedy little b*stard.


IMO this is the primary reason why PayPal will not survive. People tend not to forget or forgive broken promises such as PayPal issued when they were first starting. With most of the larger national banks starting similiar services with lower fees, it will be extremely difficult for PayPal to justify their fees even if they are offering "insurance" and other perks such as credi/Debit cards.

BTW - PayPal is going public early next year. They actually called me and asked if I would like to participate in the IPO. I told them I have already given them a significant amount of capital with the fees that they charge me. Any takers ?

 

[Justincase]

>>>BTW - PayPal is going public early next year. They actually called me and asked if I would like to participate in the IPO. I told them I have already given them a significant amount of capital with the fees that they charge me. Any takers ?<<<

Yeah, I'll buy PayPal's stock...but I'll sell it short long before I do that

I'm a little surprised actually, that they're going to go public...but I guess that's a few more million in Musk's pocket...before it all goes down. And I agree with you that it's only a matter of time before they do go under. When the sh** hits the fan, a lot of people with balances in their PayPal accounts are going to get screwed; I never leave balances in any online account.

 

[EliteForces]

well it would rock if ebay integreated this like they did with billpoint.
Free is better.

 

[PsychoAndy]

<< Ah, cheap skates complaining about PayPal fees again. Like I keep saying, go get yourself a merchant account and lease the equipment. Then you'll see just how good of a deal PayPal really is. PayDirect offers zero fraud protection, is slower than snot moving funds, and just doesn't "work" like PayPal. >>



uh, i hate to burst your bubble here, but in some cases paypal actually costs more than some cc processors. everything is relative. if you do $100 a month in paypal transactions, you'll get 2.9%. if you do that with a cc processor, they'll charge anywhere from 4% up. Plus monthly connection fees. Plus per transaction fees.

Now, if we add a zero....
If you do $1,000 a month through paypal you'll get 2.2%
Depending on the cc processor you use you'll get they'll usually give 3% plus connection fees, and all the usual gouging

another zero.......

If you do $10,000 a month through paypal you'll still get 2.2%
Now, since the cc processor is a middleman, they're flexible. As in you'll get even better rates. give or take a little, like 2% including connection fees, and all the usual crap, like per transaction fees, authorizations, etc...

one thing i like is you can haggle with cc processors. thats what makes paypal different from billpoint, everyone pays the same.

but, your best bet is to shop around. cc processors always cold call me looking for my business. example:

me: hello
cc company: hi, we were wondering if you can spare 10 minutes so we can show you how much we can save you in credit card fees
me: 10 minutes?
cc company: yes, a presentation takes 10 minutes
me: well i'm a busy man. lets play something called the 10 second game. do you know how the 10 second game works? of course you dont. you have 10 seconds to tell me your name, your company, and your best rate. if you cant do that in 10 seconds, you dont get my business.
cc company: hahaha
me: i'm serous
*i hear a click*

 

[Emulex]

I've been with paypal since day 1 of their opening, have sold 30-40 thousand through paypal over time, on ebay, my paypal store, and other various transactions, all have gone 100% without a hitch. Anyone can get defrauded by any online transaction, money order, check, whatever. If you think folks don't forge money orders, etc, you are naive. Any large transaction is thoroughly checked over, i call the folks at work,home, ship by the standards, never ever ever had an issue. Folks that get lazy or greedy, are the ones burnt.

i dont think the others (c2it/paydirect) allow you to withdraw your cash at an ATM 1 minute after getting it now do they?

..

 

[Justincase]

>>>i dont think the others (c2it/paydirect) allow you to withdraw your cash at an ATM 1 minute after getting it now do they?<<<

I don't know anybody that actually must have their money 1 minute after getting it...and I know I wouldn't pay a fee to withdraw funds at an ATM when those same funds can be moved to a bank account or a credit card free of charge. Then again, I guess there are those people that just enjoy paying fees for things when they don't have to...whatever floats your boat.

 

[Optical]

I got a taste of how expensive Paypal on my last option. I hadn't used for it for awhile and then hit with 2.9% + 0.35 cent fee to receive 392 bucks. That's almost $12 bucks in fee going to Paypal in addition what I have to pay for Ebay. It's not as attractive as before during those 'free' days.

Can anyone comment on C2it's service. Any hidden fees?

 

[Justincase]

>>>Can anyone comment on C2it's service. Any hidden fees?<<<

There's a full disclosure of fees on the home page...bottom line: you are not going to incur a fee if you are a recipient of funds (U.S. only) and transfer funds out electronically.

Customer service is (almost always) top-notch and available around the clock (unlike PayPal).

Each service has its own set of pluses and minuses.

 

[StringAttached]

Why would buyers pay C2it fees to send the money, while there are other sellers out there with Paypal and Billpoint which they can use for free? I'm all for savings, but losing potential customers to competition isn't worth it, IMHO.

 

[GetReal]

<< Why would buyers pay C2it fees to send the money, while there are other sellers out there with Paypal and Billpoint which they can use for free? I'm all for savings, but losing potential customers to competition isn't worth it, IMHO. >>



In my experience, most sellers "sneek" these buyers fees into the transaction with other online payment services anyway. In may be included in the S&H charge,disguised as a cash discount for mail payments, or included in the price of the product.

 

[dimwit]

Whatever service you choose, remember the Econ 101 motto : There ain't no such thing as a free lunch. You will pay somewhere.

I use Paypal, since everyone on Ebay uses it, and you get top dollar on Ebay to help offset the fees. Like some other poster said, I don't even bid if they don't take Paypal.