Paypal I love you!
Which! Has been on breakfast TV this morning basiaclly saying that paypal is not a good option for buying online outside ebay, basically as it is not a credit card and if something goes wrong - you ar enot covered.
Now I would always say that if you are buying something BIG online or offline (TV, PC, Laptop etc) that you should use a credit card, bue to the insurance that they offer, and protection against non delivery and company going bust etc.
But for buying every day items (dvds, books, cds) through a respected merchant you have the same protection you have when using cash or debit card. It really all comes down to the merchant. Checking online reviews, testimonials (although both of these can be faked) how long the company (not just the website) has been running etc are more important.
Using your credit card with a dodgy merchant is more likely to lead to identity fraud, best use paypal and have a minute %age chance of loosing your £9.99 for the DVD than possibly having your card maxed out through to fraud.
Views that paypal should be regulated like a bank are something I do respect, and I am actually supprised that they havent been challenged before now.
Basically PayPal is a fantastic little service and it is the best thing to happen to online startups. Paypal is safe, but a little caution about the merchant should be exercised.
There does not seem to be a video or text report about this story as covered this morning on the BBC breakfast website, if they show this on iPlayer - it was on about 9.30 Saturday
You obviously haven’t been caught in the Paypal trap, YET, that others are suffering with. Check the recent amendments to your User Agreement and pay particular attention to the portions that outline the 21-180 day holds on users funds at Paypal’s “sole discretion”! Search the internet for “Paypal Scams”. You’ll be busy for days reading about other, EXTREMELY UNFORTUNATE persons dealings with the company. Paypal is NOT a bank, is NOT FDIC insured and is NOT required to follow the same legal practices of a bank. While Paypal withholds users funds, there is ABSOLUTELY NOTHING the user can do to get those funds released!!! Paypal collects the interest on those funds, while they are holding them and DOES NOT return the interest to the users.
Now, ebay’s new CEO, John Donahoe is FORCING the VAST MAJORITY of it’s users to pay via Paypal (ebay OWNS Paypal)!! Sellers are no longer allowed to offer to accept paper paypments AND the sellers are BANNED for telling their buyers about ebay’s policy!!! This is ABSOLUTE FACT and can be read in ebay’s own policies! Also, go to ebay’s own discussion boards, such as, “Seller Central” and read the pages throughout to see TONS of other (quite possibly) illegal acts ebay and Paypal are forcing upon their users.
This monopoly HAS TO BE STOPPED!
Read others’ experiences by searching the following title or by clicking on the link:
“Ebay Stockholders and Sellers Calling For Immediate Termination of John Donohoe CEO”
http://www.petitiononline.com/jdonohoe/petition.html
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FIRE JOHN DONAHOE, ebay CEO!
Comment by whatplanet | November 8, 2008