How Safe is Paypal?

[toss]

Is it as safe as Neteller? I've heard a few horror stories so I'm kinda hesistant to sign up. Thanks for the replies.

[STG]

I've never had a problem, but someone that I bought something from could not claim his money for over a week. So at that point I cancelled the transaction. Never found out why he couldn't claim the money?

[krazyace5]

I've used it longer than Neteller and never had a problem.

[toss]

Cool, thanks for the replies. Now for some quality donkey porn...

[STG]

no, don't do it...

[swiftrhett]

They have a ton of rules that they can kick you off for, like if they decide you did something fraudulent or bought porn or transferred money to gamble online.

I believe if they freeze your account, they just hold your money for 180 days to see if anyone decided the funds were fraudulent. If you break their porn or gambling rule, they can fine you $500 of what they have of yours.

Unless you do something shady, it's pretty safe. And even if you do something shady, at least they don't steal your money ala Party Poker.

[AsiaKurosawa]

I wouldn't carry a balance, and I's seriously review this site if you're using it on ebay as a seller selling high ticket items: Paypal Sucks (http://paypalsucks.com/). NO experience, but I've read the horror stories too and they can be pretty bad on a seller's end. (You may want to check out the "online auctions" forum on Fatwallet to see what I mean.)

[toss]

Wow thats some scary stuff there. I don't plan on selling anything on Ebay though nor do I plan on transfering money for porn or gambling. So I think I should be safe.

[Lawrence Ng]

I've also had some nightmares selling stuff/buying stuff through paypal and Ebay. But if the seller/buyer on ebay is reputable you should not have a problem.

Lawrence

[tubalkain]

Actually, if they think you're doing things that don't mesh with their Puritanical rules, they'll get their $500 fine by any means, including emptying your bank account and overlimiting your credit cards.

[cassette]

Paypal is a [censored] scam. They ripped me off for a good $150. /images/graemlins/mad.gif

[Cubswin]

Assuming you arnt using paypal for gambling or porn, it is safe as can be. Just be sure you know all the rules (http://www.fatwallet.com/t/67/476549/) so you dont get ripped off. Paypal does suck in the fact that they bend you over if you want to take credit card transactions....

cubs

[siccjay]

[ QUOTE ]
I've used it longer than Neteller and never had a problem.

[/ QUOTE ]

[siccjay]

[ QUOTE ]
Assuming you arnt using paypal for gambling or porn, it is safe as can be. Just be sure you know all the rules (http://www.fatwallet.com/t/67/476549/) so you dont get ripped off. Paypal does suck in the fact that they bend you over if you want to take credit card transactions....

cubs

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I sell a lot on ebay. They do charge way too much for credit card transactions but they are kinda the only way to take them. Sad thing is, is that they know they are the only way.

[newfant]

paypalsucks.com

[handsome]

[ QUOTE ]
[ QUOTE ]
Assuming you arnt using paypal for gambling or porn, it is safe as can be. Just be sure you know all the rules (http://www.fatwallet.com/t/67/476549/) so you dont get ripped off. Paypal does suck in the fact that they bend you over if you want to take credit card transactions....

cubs

[/ QUOTE ]

I sell a lot on ebay. They do charge way too much for credit card transactions but they are kinda the only way to take them. Sad thing is, is that they know they are the only way.

[/ QUOTE ]

Wrong. Paypal is one of the cheapest services when it comes to credit card processing. Just compare it to other processors like CCNow and 2CheckOut. The problem with PayPal is that it's very easy to get scammed, on either end, and the customer service sucks.

As a seller, you can receive payment and a week later, the buyer can chargeback his credit card or some [censored]. PayPal will deduct the amount from your balance. And if you don't have a balance, they'll get the money from your bank or backup funding (credit card) without any authorization. I know this because it has happened to me. Buyers can also claim they never got the item (then you'd have to prove you sent it, with tracking numbers, confirmation and everything) or that the item was not "as described" or something.

As a buyer, you can send the money and simply never receive the item. File a complaint and PayPal will get back to you in 3-4 months. Then they'll start processing it and maybe you'll get your money back in a year or so.

Bottom line is PayPal sucks. eBay sellers are pretty much forced to use it or go out of business, and that won't change until Gmail's payment service comes out.

[TStoneMBD]

ive used paypal for a long time, but their customer service is weak and unfair. i have had buyers lie saying they never received a product (i was selling digital products so its not like the mail lost it) and they complained to paypal about it. paypal told me that i had to refund them their money and i showed them emails containing the delivered product and even said i would resend it and they still forced me to refund the other people their money. bottom line, i got ripped off and paypal was just as much to blame as the fraudulent buyer.

another case that i went through with them was where i purchased an eproduct through an online store that used paypal as their store method. on the front of the webpage it said that if i ever want a refund for whatever reason, that i was entitled to it. there were no catches or clauses. i purchased the eproduct and they never sent it to me, ripping me off. i filed a complaint with paypal about it showing them their refund policy and how they never sent the product and they never refunded me my money.

also, if you ever sell something valuable to someone and they claim that they never received it, paypal has the right to withdraw money from your bank account/credit card without your permission to refund the other guy his money.

there have been stories in which someone hacked into a paypal account and stole a significant amount of money, which is especially possible if you have your bank account information on the site. paypal really doesnt seem to have any methods to stop etheft.

[toss]

Geez now I'm really getting scared. Are there any measures I can take to prevent someone hacking my Paypal account?

I have McAfee Firewall plus another firewall plus Microsoft antispyware running.

[TStoneMBD]

dont use internet explorer. its very easy for hackers to read passwords that you type in IE. mozilla from what i understand, is much more secure about this sort of thing.

create a guest account on XP for your visitors to use instead of your normal account. password protect your account. someone could install a password revealing program on your computer and when you login to paypal they nab your password.

[[censored]]

I simply would never use paypal if I was selling something. They have abhorent business practices IMO.


For example my brother sold some old rate video game for $120 to someone. The person paid my brother and left positive feedback. 45 days later the person disputed the transaction claiming he never recieved the game. Instead of just looking at the positive feedback paypal debited his account for the $120 and put it under investigation. My brother at that point had to close his bank account to enure they didn't debit the money from it.

You should also read the T&C carefullly giving special attention to the part that discusses when and how much they can debit from your bank account. You may be surpised.

I /images/graemlins/mad.gif paypal.

[TStoneMBD]

[ QUOTE ]
For example my brother sold some old rate video game for $120 to someone. The person paid my brother and left positive feedback. 45 days later the person disputed the transaction claiming he never recieved the game. Instead of just looking at the positive feedback paypal debited his account for the $120 and put it under investigation.

[/ QUOTE ]

this is a much better example than my digial product. paypal refunding the money on a bidder who left positive feedback 45 days earlier does not surprise me one bit whatsoever.

on my dispute concerning the digital product sold through ebay paypal told me that they have no authority to check my ebay auction to see if the product i sent to the buyer matches my ebay ad. considering they were (and still are) a company owned by ebay i find this fking hilarious.

[toss]

Thanks a lot.