Cycling and bicycle discussion forums. 
   Click here to join our community Log in to access your Control Panel  


Go Back   > >

Foo Off-Topic chit chat with no general subject.

User Tag List

Reply
 
Thread Tools Search this Thread
Old 02-22-06, 10:05 AM   #1
Peek the Geek
is slower than you
Thread Starter
 
Peek the Geek's Avatar
 
Join Date: Jan 2005
Location: WI
Bikes: Gunnar Sport, Marin Pine Mountain, Gunnar Ruffian, Gunnar Roadie, BMC Fourstroke, Salsa Vaya
Posts: 1,486
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
What are the cons of using PayPal?

A lot of times I've come across private online sellers not wanting to use PayPal for the transaction, and I was just wondering why? It seems pretty easy, fast and safe. What are the downsides of using PayPal, and why do so many people not want to use it?
__________________
Proud supporter of the Chippewa Off-Road Bike Association (CORBA)
www.chippewaoffroad.org

Peek the Geek is offline   Reply With Quote
Old 02-22-06, 10:13 AM   #2
Stacey
Non Tribuo Anus Rodentum and off to the next adventure (RIP)
 
Stacey's Avatar
 
Join Date: Dec 2002
Bikes:
Posts: 9,161
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
The downside for sellers:

A) They charge you a base per transaction fee, plus a nominal percentage on the total.

B) It's possible for the buyer to 'contest' the transaction if the item gets lost in transit (the seller can defend against this by appliying a tracking number to the parcel) or if the item has been materialy mis-represented in the auction (the seller can again defend against this by being honest and accurate in the description or even being conservative in their grading of the item offered.

We handle about 100 +/- PayPal tranactions each week and love it. We get our money fast, and the inventory moves out. No fuf, no muss, no ring around the collar. After all it's all about cash flow and moving inventory, right?
__________________
Stacey is offline   Reply With Quote
Old 02-22-06, 11:05 AM   #3
Peek the Geek
is slower than you
Thread Starter
 
Peek the Geek's Avatar
 
Join Date: Jan 2005
Location: WI
Bikes: Gunnar Sport, Marin Pine Mountain, Gunnar Ruffian, Gunnar Roadie, BMC Fourstroke, Salsa Vaya
Posts: 1,486
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Stacey
The downside for sellers:

A) They charge you a base per transaction fee, plus a nominal percentage on the total.

B) It's possible for the buyer to 'contest' the transaction if the item gets lost in transit (the seller can defend against this by appliying a tracking number to the parcel) or if the item has been materialy mis-represented in the auction (the seller can again defend against this by being honest and accurate in the description or even being conservative in their grading of the item offered.

We handle about 100 +/- PayPal tranactions each week and love it. We get our money fast, and the inventory moves out. No fuf, no muss, no ring around the collar. After all it's all about cash flow and moving inventory, right?
Regarding the fees: From what I can make of it, the fees are up to 2% of the total plus 30 cents per transaction (for a small-time seller). Does this sound about right?
__________________
Proud supporter of the Chippewa Off-Road Bike Association (CORBA)
www.chippewaoffroad.org

Peek the Geek is offline   Reply With Quote
Old 02-22-06, 11:06 AM   #4
dragracer
Senior Member
 
Join Date: Aug 2002
Bikes:
Posts: 620
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Not to mention all the phishing that is directly aimed at Paypal users. I used it for years with no problems but closed my account recently. I am a computer guy by trade and I almost got conned by one of the sons-a-beeches. If they can (almost) scam me, they can scam anyone. Some of the scams look very very legit. If you accidentally give theses criminals your username and password, say bye bye to your identity and to you bank account. I for one, will NEVER use it again.
dragracer is offline   Reply With Quote
Old 02-22-06, 11:16 AM   #5
edzo
Senior Member
 
Join Date: Feb 2006
Bikes:
Posts: 1,564
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
it's ok to pay via paypal

it sucks to get PAID via paypal, due to the fees.
edzo is offline   Reply With Quote
Old 02-22-06, 12:04 PM   #6
TexasGuy
That darn Yankee
 
TexasGuy's Avatar
 
Join Date: Jun 2005
Location: West West Fort Worth
Bikes: Mongoose XR-100, Eros Bianchi
Posts: 4,286
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by edzo
it's ok to pay via paypal

it sucks to get PAID via paypal, due to the fees.
No, It doesn't SUCK to get paid via paypal

The fees that PayPal charge are approximately 35 cents per transaction and 2.5 - 3% of the cost

Accepting payments through credit card is 10-35 cents per transaction and 2.5-3% of the cost plus an additional 45-99 a month that most people want to charge

With both - the more volume the greater the discount

With both you are capable of charging back. With PayPal you dispute. With Visa or Master card or discovery you dispute


Anybody that is stupid enough to click a phishing link and thinks that only "paypal" users get it are just that, stupid. I have seen phishing for Ebay, Chase bank, Wells Fargo, Citi and PayPal to name the most notable and most often received ones. If you not capable of of educating yourself yourself on the 2 or 3 steps that you can easily take to ensure that you never get fished then that is your problem.


By the way "phishing" is the new security hack of the new millenia. As Microsoft takes away more and more of your operating system's capabilities, and dumbs the operating system down to prevent users from receiving emails, unzipping files and randomly running files there will soon be no more "security" threats and everything will be social engineering.
__________________
Life is about hanging onto what you think is important and finding out what really is important.
"Stop Ruining my joke!", "No, a joke implies humor attached at no additional cost"
So many sayings, so little sig space.
TexasGuy is offline   Reply With Quote
Old 02-22-06, 12:24 PM   #7
Peek the Geek
is slower than you
Thread Starter
 
Peek the Geek's Avatar
 
Join Date: Jan 2005
Location: WI
Bikes: Gunnar Sport, Marin Pine Mountain, Gunnar Ruffian, Gunnar Roadie, BMC Fourstroke, Salsa Vaya
Posts: 1,486
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by edzo
it's ok to pay via paypal

it sucks to get PAID via paypal, due to the fees.
Does offering to take PayPal help improve the chance of an item selling at a higher price, due to the fact more buyers might be willing to make offers, knowing they're less likely to be burned? I think I might be less willing to buy something online if I'm required to send a money order or cashier's check that I have no way of getting back if the seller decides to stiff me.
__________________
Proud supporter of the Chippewa Off-Road Bike Association (CORBA)
www.chippewaoffroad.org

Peek the Geek is offline   Reply With Quote
Old 02-22-06, 12:30 PM   #8
CyLowe97
Up on the Down Side
 
CyLowe97's Avatar
 
Join Date: Mar 2005
Location: Chicago(ish)
Bikes:
Posts: 6,330
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by dragracer
Not to mention all the phishing that is directly aimed at Paypal users. I used it for years with no problems but closed my account recently. I am a computer guy by trade and I almost got conned by one of the sons-a-beeches. If they can (almost) scam me, they can scam anyone. Some of the scams look very very legit. If you accidentally give theses criminals your username and password, say bye bye to your identity and to you bank account. I for one, will NEVER use it again.
I get these ALL the time. "Confirm your PayPal Password" "Account Changes to your Pay Pal Account" It's been nuts trying to get my spam filter to get these to stop. The links look legit, but if you put your cursor over the hyperlink, you can see on the status bar that it takes you to a non-PayPal site.

Pay Pall is probably safe, as are many online retailers, but the rule of thumb is NEVER trust a link that has been e-mailed to you where your userid, password, or financial information are at risk.
CyLowe97 is offline   Reply With Quote
Old 02-22-06, 12:34 PM   #9
velotimbe
addicted to coffee
 
velotimbe's Avatar
 
Join Date: Dec 2004
Location: Queen Charlotte, British Columbia
Bikes: Surly LHT, Gunnar Roadie, Trek Fuel EX, Fisher Twenty Niner
Posts: 107
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I for one will never use Paypal again.

They mysteriously one day "linked" my account to another account that they claim is mine. I have never had another account with them.

They said they will be holding the balance of my account until I make the other account right. Since I do not know of the other account, and they refuse to tell me what it is, I cannot do anything. I have lived in a few apartments over the past few years, so I can only assume someone that also lived in the same apartment at one time had an account.

So, they say until I can "guess" the username and email of my other mystery account, they have frozen my personal account, and are holding $750 of my money indefinately. In addition, they refuse to give me the details such as name, email, or phone number of the other account that is supposed to be mine, so there is no possible way for me to figure this out.

So I lost $750 to paypal because they are not a true bank, and therefore do not operate using SS numbers, but using addresses and other things, so they think I am linked to people I am not. Furthermore, any money in their accounts is NOT FDIC insured, and they are not required to operate on the same laws as bank. They mostly can do whatever they want, whenever they want with your money and financial information.
velotimbe is offline   Reply With Quote
Old 02-22-06, 12:49 PM   #10
TexasGuy
That darn Yankee
 
TexasGuy's Avatar
 
Join Date: Jun 2005
Location: West West Fort Worth
Bikes: Mongoose XR-100, Eros Bianchi
Posts: 4,286
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by velotimbe
I for one will never use Paypal again.

They mysteriously one day "linked" my account to another account that they claim is mine. I have never had another account with them.

They said they will be holding the balance of my account until I make the other account right. Since I do not know of the other account, and they refuse to tell me what it is, I cannot do anything. I have lived in a few apartments over the past few years, so I can only assume someone that also lived in the same apartment at one time had an account.

So, they say until I can "guess" the username and email of my other mystery account, they have frozen my personal account, and are holding $750 of my money indefinately. In addition, they refuse to give me the details such as name, email, or phone number of the other account that is supposed to be mine, so there is no possible way for me to figure this out.

So I lost $750 to paypal because they are not a true bank, and therefore do not operate using SS numbers, but using addresses and other things, so they think I am linked to people I am not. Furthermore, any money in their accounts is NOT FDIC insured, and they are not required to operate on the same laws as bank. They mostly can do whatever they want, whenever they want with your money and financial information.
I have seen numerous people that make these claims and its always funny how their story is always "exactlY 'the same story. And they always seem to have the lies. Your USD money is FDIC insured. The only money not FDIC is insured is a Money Market which is not the default option or non-us currencies.
__________________
Life is about hanging onto what you think is important and finding out what really is important.
"Stop Ruining my joke!", "No, a joke implies humor attached at no additional cost"
So many sayings, so little sig space.
TexasGuy is offline   Reply With Quote
Old 02-22-06, 01:00 PM   #11
glock17
/dev/null
 
glock17's Avatar
 
Join Date: Jan 2005
Location: Carroll, IA
Bikes: Schwinn Mtn Bike
Posts: 76
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
If you are buying / selling guns or gun parts they can and will freeze your account.

I've heard several stories about where they take the money out of your account for what they think is fraudulant acts and you have no way to contest it.
glock17 is offline   Reply With Quote
Old 02-22-06, 01:18 PM   #12
.:Jimbo:.
Sofa King Fast
 
.:Jimbo:.'s Avatar
 
Join Date: Oct 2005
Location: En' Why? Sea.
Bikes: 2007 Scott CR1 team-that's the only one that matters
Posts: 1,195
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
This should sum it up, i think, not sure, i sell and buy on craigslist, cash only, so im not all too familiar with these payment methods.

http://www.paypalsucks.com/
.:Jimbo:. is offline   Reply With Quote
Old 02-22-06, 02:05 PM   #13
Peek the Geek
is slower than you
Thread Starter
 
Peek the Geek's Avatar
 
Join Date: Jan 2005
Location: WI
Bikes: Gunnar Sport, Marin Pine Mountain, Gunnar Ruffian, Gunnar Roadie, BMC Fourstroke, Salsa Vaya
Posts: 1,486
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by .:Jimbo:.
This should sum it up, i think, not sure, i sell and buy on craigslist, cash only, so im not all too familiar with these payment methods.

http://www.paypalsucks.com/
Though I don't know much about PayPal, I can say you should take any kind of web site like that with a HUGE grain of salt. It looks about as factual as a Michael Moore "documentary."

Interesting to hear different people's opinions, though.
__________________
Proud supporter of the Chippewa Off-Road Bike Association (CORBA)
www.chippewaoffroad.org

Peek the Geek is offline   Reply With Quote
Old 02-22-06, 02:33 PM   #14
SoonerBent
<><
 
SoonerBent's Avatar
 
Join Date: Oct 2004
Location: Oklahoma City
Bikes: RANS Tailwind
Posts: 768
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Peek the Geek
Does offering to take PayPal help improve the chance of an item selling at a higher price, due to the fact more buyers might be willing to make offers, knowing they're less likely to be burned? I think I might be less willing to buy something online if I'm required to send a money order or cashier's check that I have no way of getting back if the seller decides to stiff me.
I, for one, don't bid on anything on ebay from sellers that don't do PayPal. Did one time and got burned, never again! I can't be the only one so I would think that it does improve your bidder base.

SS
SoonerBent is offline   Reply With Quote
Old 02-22-06, 03:40 PM   #15
Eggplant Jeff
45 miles/week
 
Eggplant Jeff's Avatar
 
Join Date: Mar 2005
Location: Philadelphia, PA
Bikes: Jamis Aurora
Posts: 2,020
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I have never had a problem with PayPal. I don't think I'd ever use it for a major investment, but I don't have any problems leaving a couple hundred bucks in there from time to time. However as a general rule I use it for sending or receiving cash, not leaving it there.

The fee for receiving money is irritating and I was really pissed when they first instituted it, but realistically they're a company out there to make money and their fees are pretty reasonable compared to what it would cost me to accept money via credit cards otherwise (or in other currencies).
__________________
Treasurer, HHCMF Club
Now living in the land of the cheesesteak.
But working at a job where I can't surf BikeForums all day any more...
Eggplant Jeff is offline   Reply With Quote
Old 02-22-06, 04:18 PM   #16
sunninho
Go Titans!!
 
sunninho's Avatar
 
Join Date: Mar 2005
Location: Culver City, CA
Bikes: '04 Eddy Merckx Team SC - Record - Rolf Prima Vigor; Andy Hampsten Cinghiale - Dura Ace 7800 - Rolf Elan Aero
Posts: 2,489
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
It seems with the PayPal Buyer Credit option now, people are more willing to bid higher since they can pay off the item in 3 months or more without interest.
__________________
One must live the way one thinks or end up thinking the way one has lived.
--Paul Bourget
sunninho is offline   Reply With Quote
Old 02-22-06, 04:57 PM   #17
edzo
Senior Member
 
Join Date: Feb 2006
Bikes:
Posts: 1,564
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
hey I rethink meself here...

the convenience and security PayPal offers outweigh the fees.

disregard my prev post
edzo is offline   Reply With Quote
Old 02-23-06, 07:48 AM   #18
velotimbe
addicted to coffee
 
velotimbe's Avatar
 
Join Date: Dec 2004
Location: Queen Charlotte, British Columbia
Bikes: Surly LHT, Gunnar Roadie, Trek Fuel EX, Fisher Twenty Niner
Posts: 107
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
BTW -

I was NOT selling guns. They locked my account 2 days after I sold a $1400 bike to Iceland. Never have sold anything but bikes and bike parts
velotimbe is offline   Reply With Quote
Old 02-23-06, 09:40 AM   #19
Jerseysbest
J E R S E Y S B E S T
 
Jerseysbest's Avatar
 
Join Date: Apr 2005
Location: DC
Bikes:
Posts: 1,849
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Ugh, I still use them but I am disgruntled. I bought a very expensive car part about a year ago, and was going to use my CC to pay for it (never use my bank, with my CC, its one more level of protection b/w me and the crooks) like I had several time before. When finishing the form, I changed method of payment to CC, said it changed, but then the next day my bank account associated with Paypal was over withdrawn, and get slapped with a bunch of penalties from my bank.

I've since closed that bank account but it's still listed on my Paypal account so they can't pull any funny business. I'll still use paypal, I'll just have them 'cut a check' next time I sell something, instead of a transfer.
Jerseysbest is offline   Reply With Quote
Old 02-23-06, 11:29 AM   #20
TexasGuy
That darn Yankee
 
TexasGuy's Avatar
 
Join Date: Jun 2005
Location: West West Fort Worth
Bikes: Mongoose XR-100, Eros Bianchi
Posts: 4,286
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Jerseysbest
Ugh, I still use them but I am disgruntled. I bought a very expensive car part about a year ago, and was going to use my CC to pay for it (never use my bank, with my CC, its one more level of protection b/w me and the crooks) like I had several time before. When finishing the form, I changed method of payment to CC, said it changed, but then the next day my bank account associated with Paypal was over withdrawn, and get slapped with a bunch of penalties from my bank.

I've since closed that bank account but it's still listed on my Paypal account so they can't pull any funny business. I'll still use paypal, I'll just have them 'cut a check' next time I sell something, instead of a transfer.
Sounds like somebody who is not capable of understanding their world I've used PayPal for 5+ years with 5+ bank accounts and numerous visa cards with no problem. As do millions of people for the last 7+ years since PayPal gained its popularity by offering payment services for companies who couldn't afford the outrageous fees that Merchant services used to charge
__________________
Life is about hanging onto what you think is important and finding out what really is important.
"Stop Ruining my joke!", "No, a joke implies humor attached at no additional cost"
So many sayings, so little sig space.
TexasGuy is offline   Reply With Quote
Old 02-23-06, 03:01 PM   #21
Jerseysbest
J E R S E Y S B E S T
 
Jerseysbest's Avatar
 
Join Date: Apr 2005
Location: DC
Bikes:
Posts: 1,849
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Well I am mentally ******** and can't add, so the world is a frightening place for people like me.
Jerseysbest is offline   Reply With Quote
Old 02-23-06, 11:21 PM   #22
blue_neon
Elite Rep
 
Join Date: Aug 2004
Location: Melbourne - Australia
Bikes:
Posts: 2,096
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
You are also covered on eBay up to $1000AUD if you use Pay Pal and the seller is dodgey
blue_neon is offline   Reply With Quote
Old 02-24-06, 09:28 AM   #23
dragracer
Senior Member
 
Join Date: Aug 2002
Bikes:
Posts: 620
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Piss on paypal/ebay, they are rich enough. And the savings are not that great most of the time. Shop local. Support your community. And you can actually walk into a store and show them a problem if something does go wrong with a product.
dragracer is offline   Reply With Quote
Old 02-24-06, 09:40 AM   #24
Peek the Geek
is slower than you
Thread Starter
 
Peek the Geek's Avatar
 
Join Date: Jan 2005
Location: WI
Bikes: Gunnar Sport, Marin Pine Mountain, Gunnar Ruffian, Gunnar Roadie, BMC Fourstroke, Salsa Vaya
Posts: 1,486
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by dragracer
Piss on paypal/ebay, they are rich enough. And the savings are not that great most of the time. Shop local. Support your community. And you can actually walk into a store and show them a problem if something does go wrong with a product.
That doesn't help me much if I'm trying to sell off some of my own stuff.
__________________
Proud supporter of the Chippewa Off-Road Bike Association (CORBA)
www.chippewaoffroad.org

Peek the Geek is offline   Reply With Quote
Old 02-24-06, 10:10 AM   #25
dragracer
Senior Member
 
Join Date: Aug 2002
Bikes:
Posts: 620
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by Peek the Geek
That doesn't help me much if I'm trying to sell off some of my own stuff.
Yeah I know....I was just being a smart@S$ more than anything. Ebay still has it's place, but at times it just makes me wonder whether it's all worth it.
dragracer is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -6. The time now is 01:07 PM.