PayPal Here Coming to the United Kingdom

[JMcEntegart]

PayPal's real-word payment service is arriving in the UK.

PayPal Here Coming to the United Kingdom : Read more

 

[abbadon_34]

This is NOT a good thing. PayPal is the worst thing to come out of internet. It is not regulated like a bank or credit card, and it can and will hold you money for ungodley lengths of time without recourse for whatever political reason it wants. They blacklisting entire legal industries and forcing legal websites to fork over their user logs. Unlike a credit card or bank account you have no legal protections and guarentees, only their gracious company policies. Make them play by the rules, and I welcome them.

 

[makaveli316]

[citation][nom]abbadon_34[/nom]This is NOT a good thing. PayPal is the worst thing to come out of internet. It is not regulated like a bank or credit card, and it can and will hold you money for ungodley lengths of time without recourse for whatever political reason it wants. They blacklisting entire legal industries and forcing legal websites to fork over their user logs. Unlike a credit card or bank account you have no legal protections and guarentees, only their gracious company policies. Make them play by the rules, and I welcome them.[/citation]

I'm using PayPal since it came out and it is the most safe payment option on the web.
"..hold your money"? What are you talking about?
You're not forced to have money in your PayPal account. You can just register your credit card or bank account and transfer money and you don't need to give your credential to any seller.
I had few times problems with a seller, who didn't send the item and PayPal gave me back my money.
And all this is free. What more do you want?
PayPal is the best thing to have when you buy stuff on the internet.

 

[Guest]

agree that paypal is the most safe way to make payment through internet.
I use it for all my payment in ebay is the only way that will guarantee to claim your money back. dispute for bad product and if the other party or the seller still want to continue using paypal for business they have to refund or by force from papal if you win the case. I trust paypal I only leave a few hundred buck there for buying and selling as well.

 

[WhyFi]

[citation][nom]ebayjunkcolltor[/nom]agree that paypal is the most safe way to make payment through internet.I use it for all my payment in ebay is the only way that will guarantee to claim your money back. dispute for bad product and if the other party or the seller still want to continue using paypal for business they have to refund or by force from papal if you win the case. I trust paypal I only leave a few hundred buck there for buying and selling as well.[/citation]

If you're the seller, PP can and will hold your money unlawfully. In most states in the US, paypal is licensed as a money transmitter, nothing more, so when they decide that they're judge and jury on a dispute, they're over-stepping their bounds. When they hold money for longer than 10 days (which is common for sellers without a lot of feedback) in the event of a dispute, they're over-stepping their bounds. When they hold back a rolling 30% slush fund for frequent sellers, they're over-stepping their bounds.

The fact is that paypal is not a bank, they have no oversight like a bank, they have no protection like a bank. They're an additional middleman between customers, service providers and their respective banks and they really don't bring anything to the table besides additional fees an illusion of security for people that don't know any better.

 

[enewmen]

I think what abadon is saying is once you have a problem, You're Screwed.
Screwed as in your account is limited. That means all information is frozen, all assets are frozen for 6 months , and you can NOT create another account EVER. Customer support is worse than useless. There is NO problem solving procedure and any decision to limit cannot be appealed. At least with a bank, any problem can be solved somehow. That means, if your business depends on PayPal, You're Really Screwed.
If you never had a probem with PayPal - as many did, then consider yourself lucky.

To be fair, the person that authorized my business account asked me how I was doing. My account was limited for 4 months. After reviewing my emails with customer service, the situation escalated to the local VP of business accounts. I was lucky the situation escalated so high. All that was needed was one document scan and a data field was changed. Now all is smooth.

 

[teh_chem]

The only people who would be excited about paypal in general are probably only buyers who haven't gotten screwed by their crappy system yet.

Paypal is not a good service. I don't know of any other business that is not recognized as an official financial institution but is allowed to lock your account funds virtually indefinitely without having to divulge the explicit reasons for this.

Hell, even suspected criminals have had their finances locked for less time than some legit Paypal users.

People who are excited about paypal should read up on many of the grievances others have written up around the web.

The sooner paypal dies, the better it will be for LEGITIMATE commerce.

 

[dark905]

scampal.

 

[makaveli316]

Nobody force you to use it.

I'm a buyer and i use it and i never had a single problem with PayPal in all those years.

If you're a seller, just avoid it if it's such a problem for you, as simple as that.

If it isn't good for you, that doesn't mean it's the same for everyone.

 

[xendrome]

UK.. Prepare to have your accounts frozen!

 

[Guest]

Wow really, so I can take payments from customers today, using the chip and pin, and transfer them as soon as its in my account, where exactly is the problem. Most traders using this will not be holding massive amounts in the pay pal account, a day or two trading at the most, but honestly, go speak to streamline, get yourself a mobile streamline unit that has its own sim-card, and have the security of payments directly into your bank, for very little upfront cost anyway ( Exactly what I use, worth the fee a million times over)

 

[sliem]

I use paypal ALL the time. I am a buyer only though. So no problem here, they are on my side.

 

[f-14]

i wonder how long it will be before ' here' is banned in macedonia for fraud again

 

[Dragos D]

[citation][nom]makaveli316[/nom]Nobody force you to use it.I'm a buyer and i use it and i never had a single problem with PayPal in all those years.If you're a seller, just avoid it if it's such a problem for you, as simple as that.If it isn't good for you, that doesn't mean it's the same for everyone.[/citation]

I do not understand your logic. "Nobody forces you to use it." - Does that make it ok? Why am I not allowed to comment on it? This is not about some guy who likes to eat grass. That, I wouldn't care about. This is a massively employed money transfer system. It affects the masses. Shouldn't it build its legitimacy on more than just the fine-print?

"If it isn't good for you, that doesn't mean it's the same for everyone." - If I murder somebody's baby, but not yours, am I still a good guy because my evilness doesn't apply to you directly enough? Just replace the word "good" with the word "bad" in your own sentence.

 

[PhilipCohen]

And the ugly reality for consumers, particularly smaller payees, dealing with the clunky, unscrupulous PayPal ... http://bit.ly/UVXx53

 

[Brett928S2]

Hi

I am a retailer in the UK and according to rumour PP want to take 3%...lol

I cannot think of a single retailer in my area (Computer shops) that would agree to that high a percentage...or even half of that...

All the best Brett

 

[WhyFi]

If you disagree with me, I am fine with that, but instead of screaming comments of hate and disgust, let's here your stories with paypal causing you issues.

Paypal's illegal and/or questionable practices are well known and documented. In a class-action lawsuit alleging illegal restriction to funds, they settled quietly rather than have it go to court and risk more damage. http://www.snopes.com/inboxer/nothing/paypal.asp

If you want to read individual experiences of people that have been screwed by paypal, there's a website devoted to it - http://www.paypalsucks.com/

 

[PhilipCohen]

[citation][nom]edogawa[/nom]Heh, that's rather funny and sad, some of those people on there sound insane.Paypal has been excellent for me these last 4 years, and I guess either I am lucky or something.[/citation]

And I'm another of those "insane" people: http://bit.ly/UVXx53

 

[calmstateofmind]

The UK is just now getting Paypal...?

 

[merikafyeah]

"PreyPal" and "PrayPal" are more appropriate names for much of the same reasons.

They "prey" on seller funds and you'll have to "pray" that your account isn't frozen and your business potentially ruined. Customer "service" isn't bad because they can't help it. Make no mistake, it's deliberately horrible, because the longer they can delay you from getting your money the more profit they can make off of it (hence the ridiculous 180 day maximum) . That's right, PayPal makes profit off of your money, just like the banks do. But at least with banks you have government pretending to regulate them, but with PayPal? Nope.

Your @$$ is screwed.

 

[back_by_demand]

For all those bashing Paypal saying "they aren't a bank, so don't have the same safety"
...
Banks have done a bang up job so far haven't they?
...
Plus this article is about a service launching in the UK where there is an additional layer of protection called the Direct Debit Guarantee which is something that all banks have to sign up to for customer protection - Paypal service in the UK is not nearly as ropey as the service offered in the US, where frankly your financial services are a joke (and before you disagree I have 2 words for you, Bernie Madoff)

 

[CrArC]

Will not touch with a bargepole. Every Paypal transaction I make or receive is a nerve-wracking experience thanks to all the terrible behaviour I've read about them.

I've had money frozen before due to disputes, though admittedly both times it turned out ok; in one case the impatient buyer decided they were happy (surprise surprise, the item turned up when I said it would) and in another Paypal sided with me as I had proof of postage and delivery.

Still, could've done without the hassle. And it IS hassle. Faceless semi-automatic dispute and security systems, and their phone support people are powerless to do anything but bluntly regurgitate whatever the website was telling you anyway. I had trouble PAYING for something the other week (wouldn't go through, seller had put wrong email address in) and I had to sleuth out the problem on my own contacting my bank, eBay and Paypal as nobody knew a flippin' thing or could tell me what was happening. Seriously, Paypal themselves more or less said "we can't tell you why it's failing as we're not allowed to know".

In the end it was forum posts from other frustrated users which pointed me in the right direction. What kind of support is that?

 

[teh_chem]

[citation][nom]back_by_demand[/nom]For all those bashing Paypal saying "they aren't a bank, so don't have the same safety"...Banks have done a bang up job so far haven't they?...Plus this article is about a service launching in the UK where there is an additional layer of protection called the Direct Debit Guarantee which is something that all banks have to sign up to for customer protection - Paypal service in the UK is not nearly as ropey as the service offered in the US, where frankly your financial services are a joke (and before you disagree I have 2 words for you, Bernie Madoff)[/citation]
I'm not familiar much with Direct Debit Guarantee--just looked it up, and from what I understand, it's supposed to outline how communication and payments are handled between payers and payees. It doesn't seem to do anything that makes how Paypal the company must operate when handling customer accounts (and locking funds, etc.).

I would hope that PP in the UK is better than it is in the US, but I don't see how it could be, to be honest.

Also, I don't understand how the problem with national and international banks has to do with how Paypal operates. If I go to my bank and stop-payment on a transaction for, say, $100 for something I bought online that either I claim I never received or I claim is not the correct item, it does not result in the entire other person's account being locked (all funds) indefinitely. Generally this only impacts the amount of the transaction in the other person's account, and the other person still retains control of their account funds.

If Paypal actually investigated and payed attention to evidence in transaction disputes rather than universally taking side with the customer, then the issues I have might be resolved.

But since paypal prefers to appease the buyers that use their service rather than the sellers, it's an inherently unfair business model with absolutely no way for users to audit the process. There are a lot of testimonials of legit sellers who have not conducted their business dishonestly, but after one false claim from a buyer that they did not receive their item, or did not receive the proper item, PP simply freezes and often terminates the seller's account, without actually investigating the issue.

A quick example that is a common situation; a seller ships an item, has a receipt for shipping that shows the weight of the item (let's say 5 pounds weight), how much it cost to deliver, and tracking info. The buyer receives the package, but says there was nothing in the delivery (just an empty box). Paypal will not pay attention to the evidence that the seller has that shows that the weight of the delivery was 5 pounds--which proves that the box could not have been empty. Paypal will simply universally side with the customer in this sort of dispute, refund the buyer the transaction amount, debit the seller's account and lock the seller's account due to fraud. Except there was no due diligence to investigate whether this really was fraud because it would cost Paypal too much in time and resources. That's the problem.

 

[back_by_demand]

[citation][nom]teh_chem[/nom]I'm not familiar much with Direct Debit Guarantee--just looked it up, and from what I understand, it's supposed to outline how communication and payments are handled between payers and payees. It doesn't seem to do anything that makes how Paypal the company must operate when handling customer accounts (and locking funds, etc.).I would hope that PP in the UK is better than it is in the US, but I don't see how it could be, to be honest.Also, I don't understand how the problem with national and international banks has to do with how Paypal operates. If I go to my bank and stop-payment on a transaction for, say, $100 for something I bought online that either I claim I never received or I claim is not the correct item, it does not result in the entire other person's account being locked (all funds) indefinitely. Generally this only impacts the amount of the transaction in the other person's account, and the other person still retains control of their account funds.If Paypal actually investigated and payed attention to evidence in transaction disputes rather than universally taking side with the customer, then the issues I have might be resolved.But since paypal prefers to appease the buyers that use their service rather than the sellers, it's an inherently unfair business model with absolutely no way for users to audit the process. There are a lot of testimonials of legit sellers who have not conducted their business dishonestly, but after one false claim from a buyer that they did not receive their item, or did not receive the proper item, PP simply freezes and often terminates the seller's account, without actually investigating the issue.A quick example that is a common situation; a seller ships an item, has a receipt for shipping that shows the weight of the item (let's say 5 pounds weight), how much it cost to deliver, and tracking info. The buyer receives the package, but says there was nothing in the delivery (just an empty box). Paypal will not pay attention to the evidence that the seller has that shows that the weight of the delivery was 5 pounds--which proves that the box could not have been empty. Paypal will simply universally side with the customer in this sort of dispute, refund the buyer the transaction amount, debit the seller's account and lock the seller's account due to fraud. Except there was no due diligence to investigate whether this really was fraud because it would cost Paypal too much in time and resources. That's the problem.[/citation]
Well, I have friends, collegues, family members - all have horror stories of their banks hitting them with charges, closing accounts, freezing funds, etcetc and i'm sure if you think about it we all know someone who has had a similar story
...
I'm not saying that Paypal is great, but some people are putting banks on a pedastal and saying banks are way better than Paypal - when they are equally crappy - plus Paypal didn't cause a global financial crash, fiddle Libor rates or engage in shorting on the trading floor

 

[PhilipCohen]

[citation][nom]back_by_demand[/nom]Well, I have friends, collegues, family members - all have horror stories of their banks hitting them with charges, closing accounts, freezing funds, etcetc and i'm sure if you think about it we all know someone who has had a similar story...I'm not saying that Paypal is great, but some people are putting banks on a pedastal and saying banks are way better than Paypal - when they are equally crappy - plus Paypal didn't cause a global financial crash, fiddle Libor rates or engage in shorting on the trading floor[/citation]
Well, I for one don't know anyone that has had a problem with a bank but I read all to many horror stories about PreyPal, particularly from small payees ... real banks certainly are way better than PreyPal … they certainly aren’t all equally crappy [as PreyPal] … depositors in real banks have lost no funds … that can’t be said of people silly enough to deposit funds in PreyPal … Frankly, methinks it's about time you went back to your eBay cubicle (LOL) ... http://bit.ly/UVXx53