Old 04-13-17, 03:54 AM
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Originally Posted by 67stang View Post
Thanks. I only speak for myself on the PayPal matter.... I built and sold two businesses that processed lots of payments through pay pal. Their nearly 5% fee is, IMO, excessive. Once they merged with eBay, the triple whammy of listing fee, sales commission and PayPal fee was enough to kill the margins for many small sellers. This has been written about extensively.

With respect to my transaction, PayPal did make a fee, just not the $42 originally proposed.

From a free market perspective, I have no remorse skirting the full fee - it's not against their ToU to make a personal payment, and yes while I accept the risk of not having perhaps their full "buyer protection" - I am ok with that because I feel it's my duty anyhow to make sure I am comfortable with the seller and what I am buying.
nobody claimed you breached their use policy.
what you went around was use convention. swat team wont bust in your house for that. but what you did lose is their buyer protection.

so you begrudge their costs, but are captive to use their services anyway. so whos the angry party here?

congrats on saving 42$ tho, mr captain of industry. woah us more with your tales of financial success. the internet is never short of folks waiting to be impressed.

Originally Posted by nycphotography View Post
FIFY. Not ALL the risk. Only the part of the risk that Paypal would have covered. but if your risk is covered / hedged other ways, how many insurance policies do you need for the same transaction?

If my car insurance covers rental cars, and my credit card covers rental cars, do I really need to ALSO pay Hertz for their loss waiver insurance policy?

It's why I don't give the first ish about ebay "protection" if I'm paying with paypal. Or paypal "protection" if I'm paying by credit card.

That said, when dealing overseas for large amounts I do still make the sellers invoice thru paypal because paypal coverage is worth it and I'm already beating sales tax and about 4 intermediary markups.
yup, that's exactly the thing. and actually, eligibility for cc coverage on car rentals requires declining the renting agency's c.d.w./l.d.w.

however, credit card protection applies if they are the processor for a transaction. in the case of funding a paypal gift/donation, as far as the cc is concerned, the transaction is complete - as the purchase is not recognized. at best it muddles up the claims process.

Originally Posted by nycphotography View Post
If you want a safety-crat to blow an aorta, explain how it is mathematically impossible for (actuarially accurate) insurance to ever be a good investment.

They (the actuaries) know the expected value (statistical expectation of loss) of the coverage. This is the actual statistical value to the insured. They (the company) then add commissions, profit, and overhead (someone has to pay for that skyscraper in Columbus full of sloth like corporate "workers").

At which it's a loser for the buyer, on average.
anyone ever argued a case against this? insurers and casinos dont exist for altruistic reason. people dont buy health/car/house/employment/booty insurance because they do know exactly the future outcome (e.g. i will have only 1 accident costing $$$). people buy insurance because they don't know it.
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