[CLUE-Tech] PayPal

[Joe 'Zonker' Brockmeier]

On Mon, 14 Jan 2002, Dave Anselmi wrote:

> Jim Ockers wrote:
>
> [...]
>
> > If you try to send someone funds from your PayPal "account," they make it
> > very difficult to use a credit card now.  This is because the ACH EFT
> > costs only a couple of cents for them to process, whereas the credit card
> > transaction costs them a few cents and a percentage of the amount.  If
> > you are a "verified" user they have your bank account and can do elec-
> > tronic debits from your bank account.  You have to go through a much more
> > complicated process to switch the funds transfer to happen using a credit
> > card instead of electronically withdrawing the funds immediately from
> > your bank account.
>
> I do not think I would trust PayPal with my bank account info, especially for
> on-line transactions.  With a credit card, my liability is limited for fraudulent
> charges.  Is there any limit for ACH transactions (either from the bank or from
> PayPal)?  Sounds spooky to me, although their motivation makes perfect sense.

It makes sense, but they go out of their way to lie to their customers about
it. I haven't "verified" with them, so I haven't experienced the same problems
that Jim has. However, I tried to communicate with them about this policy, and
all I could get was boiler-plate set of responses that tried to convince me
how wonderful it would be if I verified my account and all the features it
would enable. I had four exchanges with them and never got a response to any
of my questions.

I won't be using PayPal again.

Zonker
--
Joe 'Zonker' Brockmeier -=- jbrockmeier at earthlink.net
http://www.DissociatedPress.net/
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
"I'm completely in favor of the separation of Church and State. My
idea is that these two institutions screw us up enough on their own,
so both of them together is certain death." -- George Carlin