When you accept payment, you should use the Merchant Services which includes using the Buy Now button and/or the Email Invoice or Request for Payment option. These are built for online payment mechanism as opposed to the Send Money option which are not supposed to be for proper business framework. The thing is that Paypal goes through probably millions of transaction in a day and it would be difficult to determine who is real and who is not. In the current world, money laundering can easily take place online where small amount are transferred to avoid detection. Paypal would have to comply to laws and federal regulations when it comes to such transactions and would do random checks. So as long as you provide all the standard business documentations in regards to the payment and such, you should have nothing to fear. Being intangible items does not free you from the business documentations. The thing was that Paypal was started to tap into the online auction payment market and subsequently bought over by eBay which is an online auction platform which handles mainly physical items. As such, it is just not a conducive platform for intangible items. I really am not sure why people are still using them for such. It is neither convenience or safe. The only thing I would say is that Paypal is cheap to use and in order for them to be cheap, they have to compromise on security and just base on trust which in this time and age would simply mean nothing.
I did all of those, this is why I am so upset about my problem. They have no reason or evidence to take away my money or account. Even though I understand they have the right to decide who uses their services, it does not give them the right to hold my money for financial gain. How would you go about creating a direct competitor to paypal? Don't worry about funds, I can get investors once we have a solid plan of action.
Actually once paypal stop dealing with you, your money would be put on hold for a period of 180 days (ie this mirror the same timeframe banks offers their customers to initiate a chargeback). At the end of the timeframe, you will be invited to withdraw your money minus what your customer claims in their chargeback through their bank. It would definitely be in paypal's best interest that chargeback do not happen as they will lose the commission too. I would think that to be Paypal competitor, you would need to understand the risk in the business because Paypal's margin in terms of percentage is very small and in terms of a fraud and when money is already withdrawn, Paypal would need to refund using its own funds. You will also need to check with each state regulation when it comes to money exchanges and comply with state and federal laws in regards to online money transfers.
If you have funds (which I doubt you do now lol) I would file a lawsuit against them. Get a good lawyer instead of building another site. Paypal will continue to rule unfortunately.
Why would you make such a foolish assumption? I'm not a complacent person in any way, so I am going to pursue both things. I am filing civil suit in three states. Florida, Nebraska, and California... And I'm already working on a business plan for the company.
Why not you just try sue paypal? http://www.suepaypal.org/ http://www.paypalsucks.com/SuePayPal-1.shtml http://www.aboutpaypal.org/taking_paypal_to_court http://www.consumeractiongroup.co.uk/forum/welcome-consumer-forums/119009-how-do-i-sue.html
As for trusting PayPal. I opened up a new bank account with a new credit/debit card just for the purpose of using PayPal. Just as I had registered my card for vertification at PayPal, $30 were charged immediatly. The card har not been used anywhere online or offline before PayPal got my card information, and they off course claimed to not have anything to do with it. (This was not the vertification charge btw) Still.. What choice do we have but to use them?
Wow I'm sorry to hear you had to deal with paypal's BS. As of right now there are very few choices for replacing paypal 100% because they have done a good job with a multitude of features we all like. But StormPay is a good option to use for now. I am working with several people to develop a direct competitor of paypal in the next six months. Also I you simply want to accept money for goods or services you might want to consider Google Checkout. They are reliable.
I have been using paypal from 3 years without any problem,looks like there is some problem from your side.
uh... since you said you lost thousands of dollars? Most web designers and builders on here don't even make that much a year. You are lucky.
Paypal screws over and helps people screw you over. If they have such good seller protection. Anyways I doubt you have the money it would take to start a new "paypal" I hope one day you do though. Id use your service. For one look at Epassporte Fees to receive money are way lower than paypal go for that angle and also add Seller Protection. I know paypal has it but they dont let it work out for you. And unfortunatly I dont think anyone would believe paypal is going under. Its an impossible mission. They are owned by Ebay that would be like taking down walmart it just wont happen. They got plenty of money and plenty of loyal customers. But Hopefully im wrong, Good Luck to you!
LOL Damn! Its not lucky, Honestly if your not making good money and you consider yourself a web designer or builder and you dont make a few thousand a year your either not good or your not applying yourself. Either way it you make less than $10k a year off the web you shouldnt be doing it. Minimum wage jobs pay more than that.
Great points, eddy! Learned a lot from your posts here on paypal. So as an online business owner who only sells intangible digital goods / services, what are the better alternatives than paypal? Or there's simply none? Ohhh, and also to make my contribution to this thread. I was once called by paypal via phone and they asked about things like where I got all the money, where I sold my stuff and what they were. After reading this thread I just felt a little bit chilly as they might very well be investigating me and my account on whether to ban me or not.
In life i have learnt many things. Never rely on anything at once. Always have a backup plan. It has happened to me before, not with Paypal though. Good Luck, Mike
A stab in the dark here but it sounds to me like your account was suspended based on some fraudulent activity elsewhere - either by someone using a phished account to pay you, or buy initiating a chargeback, or more than one chargeback. Can't say it's the first time I've heard a similar tale though. I've encountered several horror stories of Paypal simply shutting down someone's account. Obviously, the people who's accounts were shut down all told of how they were zapped with no warning and for no reason. No idea what PP position was. I guess the moral is, don't allow large amounts of money to accrue in your PP account, and have a back up in place just in case...
I had been using them for just as long, trust me this was as unexpected to me as it will be when it happens to you. Thanks, but this upset has opened my eyes to how complacent people are online. I might not be able to take down paypal in one year, but I will shake up their market share. Why don't you go raise your post count somewhere else... try the general topics section. Words of wisdom indeed. I tried investigating every one of the people who I do business with and they didn't come back as fraudulent. Keep in mind that paypal gave me three different reasons why my account was suspended, these three different reasons were given to me be three different people and I was able to discredit each and every accusation by making sure all my transactions were trackable. They even called a few of my clients who vouched for my legitimacy, luckily I have recorded everything and will take them to court.
paypal doesn't work man recently i just deleted my paypal account bec i got few scam payment coming in those online company charge no matter what i don't even have credit card or bank account link to my paypal account and i still have few charges so i denied all of them and cancelled my account for good no more paypal for me just becareful with paypal
forgot to mention one thing why Paypal suck One day i removed my credit card from my paypal account few days later when i go back to my paypal account my credit card reappeared in my account i was like WTF? this is also one reason that cause me to dislike paypal it's scary