Great article. Looks like PP is starting to hold money from ebay transactions too. I wish someone could really step up and compete as I'm not a big PayPal fan.
This is a very nice post. I totally agree with the writer on his opinions. I hate paypal the only reason i accept paypal becuase it is trusted by so many people but i think it is a false trust generated by the ebay it parnent company.
Exactly. Ebay have brainwashed people into accepting Paypal because it's "the most secure payment available". You know, I found it fairly funny recently when I sold a pair of michael jackson tickets on eBay. The auction finished, and I said to the buyer, I'd only really take cheque or postal order, because of the Paypal fees. They buyer said no, I want to use Paypal because it's safer. Bearing in mind the gig is in July, I said to the buyer, you can only make a paypal claim within 60 days if the transaction was to go tits up, or I scammed you - and the gig is about 100 days away. So paying with Paypal would be no benefit. But still, they insisted that Paypal would be the securest option to pay. It's funny really, if people read the small print, they'd see the real truth.
One thing to add guys! Paypal have now started accepting bank verification with a username and password login to your online banking. So, rather than sending your bank details, waiting for the two deposits, and then verifying the depostis, you can just verify whether or not you own the online bank account - and you're done. Not sure if this is just US - I'll have to confirm that later.
imnajam - do you mean can you create a bank account in a country without living? If so - I'm almost certain that answer will be no. Unless you open up some kind of offshore bank account.
One thing guys. For those looking for a reliable VCC to verify Paypal accounts (in the UK), check out www.neteller.com. Fees are extremely good, and they are a very trusted company.