Why are they labeling the status of my transfer as "Uncleared"? First of all they say the order should clear today (12/05/07), but the funny thing is I have a print out from my bank saying they electronically debited the money from my account on 12/03/07 in the amount of $28.94. I'm not buying any of Pay Pal's excuses (or any I've heard from here so far). I believe that they are purposely confusing the situation by calling these transactions "Echecks" to give the impression that they need to "clear" like real checks (4-5 days or more). The truth is far from it because these transactions are automatic debit and in most cases they have the capability to instantly debit the money from one account into another. I can reasonably conceive maybe one or two business days in some cases, but not the four to five days Pay Pal is trying to sell us. I believe Pay Pal has a bank account that compounds interest daily. They make money by making you wait. What do you think?
2007-12-05 03:19:08 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I've been thinking the exact same thing with Sallie Mae. I pay online and it ALWAYS takes 2 entire days to process with a daily compounded interest. It was said earlier that they would only make $0.04 from the transaction, so why would it be worth it? Well, if they were to do this to 10,000 customers, it would be $400 and with 100,000 customers, it would be $4,000.00. Hasn't anyone ever watched Office Space with the rounding pennies scheme? I think they are making a huge profit from this.
2007-12-05 03:47:50 · answer #1 · answered by DKW 3 · 0⤊ 0⤋
Honestly you don't make much at all off the Mary Kay and Avon unless you do all kinds of parties and really focus on it as more of a job than a side thing... Especially because there's so many respresentatives out there, and the mark up is kinda high. plus, you have to sell a lot, for a long time, before the price to you lowers and you can make more money. I was doing ebay for a while, and I was bringing in a couple thousand a month, but it was more of a full time job and I let that go after almost a year. When I put less time in and started selling less, the fees for my store through ebay and paypal were really killing me. But I'm sure wihtout the store fee (just listing items) it'd be ok... I don't know if that would work for you or not, but I thought I'd mention it..
2016-03-15 07:00:17 · answer #2 · answered by ? 4 · 0⤊ 0⤋
You see this when someone uses a debit card as their credit card that they have on file. When someone pays you with a paypal account that is backed by a credit card, it comes out as an instant payment. However, is someone pays you with a paypal account that is backed by a debit card or bank account, it does take a bit more time to process because they have to assure the funds are their. Paypal makes a LOT of money everytime they do a transaction, of either kind, they take a slice so I don't think that is necesarily the case with this particular thing.
2007-12-05 06:24:00 · answer #3 · answered by Love Life 2 · 0⤊ 0⤋
Ok, Paypal will have earned a grand total of 4 cents off of the transaction. That is assuming that they are earning 10% annual interest. 5 days of interest at the 10% annual rate comes to about 4 cents (I actually had to round that up too).
2007-12-05 03:26:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Funny. That would only be 2 days of interest. PayPal makes their money off of fees charged to the seller. If you use a credit or debit cerd it's almost immediate. Echecks take a few days to process.
2007-12-05 03:32:06 · answer #5 · answered by Jeffrey T 4 · 0⤊ 0⤋
Ok, Paypal will have earned a grand total of 4 cents off of the transaction. That is assuming that they are earning 10% annual interest. 5 days of interest at the 10% annual rate comes to about 4 cents (I actually had to round that up too).
I can see how their conspiracy against you is really paying off.
2007-12-05 03:24:23 · answer #6 · answered by A.Mercer 7 · 0⤊ 0⤋
It's uncleared until it reaches the other persons Paypal account.
2007-12-05 05:21:11 · answer #7 · answered by KathyS 7 · 0⤊ 0⤋
Web is so crucial nowadays that it becomes a part of your daily regular. You can read the newspaper, look at your e-mail, update your Facebook status, buy online for Christmas gifts, Skype with friends, search on Google and so on however the most vital is that you can also get a daily paid task, a task where you get paid quickly without any headache.
2016-05-15 23:46:15 · answer #8 · answered by ? 2 · 0⤊ 0⤋