Why does anyone still use this shitty payment tool anymore?

I admit a few years ago they saved my butt on being scammed $150 for a UEGO I bought from tuners..never received it. And, I should have been more weary of buying from a guy with only 1 post.

Their fees are ridiculously expensive for nothing.

They hold your funds until the transaction is completed.

I get that you can tap into your credit card for convenience but it's not like you can't do that with your online banking VIA EMT. And I understand you have buyer protection. But come on...buyer's need to use more common sense. (myself included)

Moving forward...if ANYONE buys ANYTHING from me and is IN CANADA...I will NOT ACCEPT PayPal.

If you have a PayPal account, that means you do your banking online...which also means you can email money transfer funds.

End rant.

I avoid paypal at all costs

I've been using Paypal since I opened my ebay account back in 2001 and I can't say I've really had any issues with it. I've dealt with a couple scammers, everything got sorted out in a fairly timely manner.

I use it to receive payments on my store and yes there are fees involved but it's calculated into my pricing. They are in it make money, have you looked at what banks charge for ridiculously simple things?

I've never had them hold my funds either.

I used my Paypal mastercard debit card for all my purchases in the US at the shootout, had USD in there so no dealing with currency exchange etc.

While they are not exactly cheap, I have to stand up and defend Paypal here. We use them as our credit card processor, as they are the ONLY ones that offer any kind of protection for the SELLER. I used to use Moneris, which is the biggest in Canada, but their fees were only SLIGHTLY less, and they offered ZERO protection for the seller. Several times they approved a transaction that I myself determined to be fraudulent and did not fill. One of those occasions, they even had the nerve to charge me a "charge back fee" for returning the money to its rightful owner, even though they themselves had approved the transaction.

Paypal also gives you the option if you are paying with your paypal balance or bank account attached to your paypal account, to send money WITHOUT any fee involved. Of course, in those cases they consider that sending money to "friends", so there is no protection involved, but still it is free!

It's just a matter of time before they're weened out in place of a newer better version of international EMT'S (with protection and NO fee's).

And whoever wins over the masses by having such an institution, will only need to bank their dollars on small advertising of big companies.

Just like the spam that pops up on your "APP" on your smart phone. As long as the service is free, you can deal with the spam.

Google, Amazon and Apple have all tried to be the one to take over, with little success. I don't foresee it happening anytime in the very near future.

frack I'll do it.

It'll be called UberPal.

I don't see banks giving away free EMTs anytime soon unless they raise all of their banking fees.

My monthly fee is the same as it used to be moving away from TD to RBC. At $15 a month for unlimited EMT's was reason enough for me. TD was charging me $1.00 per transaction..

And if you know me, that's nearly a grand a year easy.

When I disputed that to them, they reimbursed me $50 on the spot. And asked me nicely to stay with them...seemed redundant unless they removed the fee altogether.

Yeah it's $1.00 per transaction with RBC as well, unless you pony up $15 a month.

I average more than 15 per month.

Jeebus that's a lot of $$$$$$$$$$$

I don't think I reach over $100 in a year, so I just pay the $1.00 per transaction fee.

Mostly car and hockey related transactions....mostly.

No scantily clad ladies?

frack off mike

Nah, he prefers scantily clad ladyboys*

Hardy har har fellars!!!

Bah haha

After having done multiple transactions with PayPal, I will say that for the life of me, I cannot figure out why they do not immediately deposit the funds into the PayPal account (I get it takes up to 3 business days to go into my bank account, but that's not in question) and it seems no matter what I sell, they hold the funds for up to 21 business days.

I guess maybe I'm becoming patient or am now anticipating this more and more.

Calling them didn't seem to resolve anything. I can't get through to a human being.

I have both a verified credit and chequeing account with them.

So what gives...?

Can anyone enlighten me on why this 21 day policy is in effect with me...?

Still not happy with their fees but at least it's no where near as bad as eBay's fees.

I also recently bought an item using my credit card and they had no problem getting the money out immediately.

I'm lost.

It's like banks. They keep it a little and make a little off placements during that time. No one does something for free anymore, they all have predetermined goals with their payment plan.

So you experience the same problem?

Maybe they pick on certain people, I have zero holds on funds that I receive, unless the person sends an e-check which is normal but even then it's only 3-5 days.

A PayPal employee spotted your original post and decided to have some fun

lol could very well be.

I figured it out.

It's a new account.

All new accounts go through it for 60 days.

I found my old account.. and some forgotten funds

I guess I had registered this new account when I didn't remember my old one. Only thing that makes sense to me. LOL

Still not liking their fees. :td:

I get like 15 EMTs per month free with my RBC account. Scotia charged me $1.50 and that's one of the many reasons I left them.

I've had no issues with Paypal, sure the fees suck but they've saved my ass a couple times. Especially a few months ago when a seller tried to scam me on eBay.

You can get free EMT fees at the banks..just need to be a senior

LOL

Well, I'm slowly coming around to liking PayPal again but I still think their fees are too high.

I just lost a good chunk of money because of it too.

You could use another payment front like Square trade, accept credit/debit cards directly, no need for an account on the buyers end but they do charge like 3.5%

Or win the lotto and just buy everything new and only what you need but I've had no luck on that front yet.

You know, if people send you paypal funds as a "gift", and the source of the funds is their paypal balance or bank balance in an account attached to the paypal account, there are no fees for the transfer.

I thought there was a "loop-hole". Thanks Ziggy! I'll keep this in mind!

Keep in mind, "gifted" transfers carry ZERO protection.

^ Yup, so most buyers will not want to go that route, unless they send it on the spot while they pick it up in person.