I was wondering if anyone knows any risks of paypal, i today set up an account, I just turned 18 thanks. the reason why i ask this is because i heard it doenst offer protection towards the person selling.
2007-01-31 10:06:15 · 14 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
THNKS U ALL U HELPED A GREAT DEAL ILL TAKE CARE WEN USING PAYPAL
2007-01-31 10:57:51 · update #1
You get protection on both ends. Just go through their seller protection and fair (square) trade pages and see what your rights are as a seller, etc.
It's not 100% foolproof, but it's not bad.
Good luck!
2007-01-31 10:11:59 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
PayPal is OK.
BUT you can have problems with them if your goods are returned or a 'charge back is made by a buyer.
They aren't really interested in sorting out a petty few quid -- so you basically get your account frozen and eventually you lose the money, whether or not you get the goods back.
There is an appeals process BUT you are best off just accepting that you'll occasionally have a dodgy customer (build it in to your margins?)
If you run a clean business, and you are not dealing in things that are easily ripped off, by and large MOST customers are decent... and Paypal is as good a system (if not occasionally better) than most.
It's easy to use and quick and doesn't charge TOO much (compared with merchant accounts from some companies that are a real rip off). You can receiev money from all oevr the world and accept 'credit cards' if you open a business account through them and provide necessary 'security' of your own credit and bank details as required.
BUT if you get on the wrong side of them, by having recurrent problems from complaints etc they will quickly close doen your account and freeze any money in it for a prolonged period.
2007-01-31 18:15:05 · answer #2 · answered by helmut cheez 3 · 0⤊ 0⤋
I haven't used paypal in a long time, but I did while I was selling items on ebay. I was protected in that all claims were investigagted by paypal authorities. They don't just credit a buyer who submitts a claim. If you are selling items make sure you have a paper trail of what you do to aid in protecting yourself. I have had no real problems with using paypal and prefer the service over others.
2007-01-31 18:13:07 · answer #3 · answered by Investing wisely 1 · 0⤊ 0⤋
I've had a bad experience with PayPal. It was related to an eBay scammer who never delivered the goods I'd paid for. I figured that PayPal is claiming to offer "Purchase Protection" so I'm good. Just like using a credit card. PayPal tried to weasel out, citing a series of arcane points in the user agreement. Fortunately, I had the foresight to use a credit card to fund the PayPal transaction, so where PayPal failed me, Capital One came to the rescue.
2007-01-31 18:19:25 · answer #4 · answered by trentrockport 5 · 1⤊ 0⤋
Don't know about the person selling........My daughter BOUGHT an item on ebay costing £53 which was paid through paypal and when the seller didn't send the item, my daughter filed a claim through paypal. Paypal refunded her £35 after taking £18 for admin charges - disgusting! I have heard so much regarding paypal that I now refuse to pay for items through it.
2007-01-31 18:18:42 · answer #5 · answered by Anonymous · 1⤊ 0⤋
If you go look up Pay Pal a lot of other web pages come up too. I read some of them and it is really scary what some people have had happen to them. I would really research this before I got myself in too deep. They can hold your money for up to 6 months and you can't do anything about it. They have a lot of lawsuits pending. So beware.
2007-01-31 18:16:57 · answer #6 · answered by Debra M 2 · 0⤊ 0⤋
watchout for spoof paypal emails
telling u things like your account
has been changed
verify your details
and click on the link below
if u do
it will go straight to someone
who is not paypal
Paypal will never ask for any
revealing information by email
it is not secure media
paypal will only email you with
advice/info on any new services
they are offering in general.
same goes for any well established
internet companys emails
sent to customers
2007-01-31 23:03:49 · answer #7 · answered by Anonymous · 1⤊ 0⤋
I personally have been using pay pal for over 3 years and have had no problems, buying or selling. I am aslo verified.
2007-01-31 18:16:43 · answer #8 · answered by mrs mac 3 · 0⤊ 0⤋
I don't use them any more. I found out the hard way that if they decide something you are buying or selling is adult in nature, they'll seize your funds and hold them for 6 months.
Just don't buy adult stuff, and you'll be fine.
2007-01-31 18:11:26 · answer #9 · answered by Jadalina 5 · 0⤊ 0⤋
I have used paypal and haven't had any problems. I asked my bank also and they told me they were trustworthy
2007-01-31 18:11:31 · answer #10 · answered by D.Y. 2 · 0⤊ 0⤋