>From the information I have received and the stories I have heard I would
not entertain Paypal for any reason.
Kind regards,
Michael Moore
[EMAIL PROTECTED]
http://www.gold-today.com
Sign up with e-gold today and get gramms of e-gold here.
https://www.e-gold.com/newacct/newaccount.asp?cid=129542
----- Original Message -----
From: "Eric Gaither, Gaithman's E-Gold Exhange" <[EMAIL PROTECTED]>
To: "Michael Moore" <[EMAIL PROTECTED]>; "e-gold Discussion"
<[EMAIL PROTECTED]>
Sent: Thursday, October 12, 2000 3:27 AM
Subject: Re: [e-gold-list] Fw: Merchant Watch #38 Is PayPal Safe?
> Wow!
>
> Glad to hear that I am not the only one with a horror story about
PayPal!
> They actually took $500 USD right out of my account WITHOUT my consent or
> knowledge. I argued with the Loss Prevention department on the phone for
> close to TWO hours about it. When I kept asking about the TOS agreement
> that states this will NEVER happen, they told me they would replace the
> funds. They did, then FROZE MY ACCOUNT! They still owe me over $400 USD
and
> keep telling me a "check is in the mail". It has been close to three
weeks
> now. Maybe they use snails to deliver there mail!
>
> To make a long story short, I no longer accept PayPal. Here is the
best
> part: PayPal still allows people to send payments to my account. I am
not
> notified when a payment comes in, nor can I access it. After TEN DAYS the
> sender is simply notified I did not accept the payment. What does this
all
> mean? PayPal simply collects interest off money they know no one will
> touch. What a sneaky system!
>
> Disclaimer: These are specific events that actually took place with my
> account. I do not intend to slander anyone, only shed the truth on a
> company that DOES NOT live up to the claims it states in its advertising
> material!
>
> Thanks!
>
> Eric
>
> ----- Original Message -----
> From: Michael Moore <[EMAIL PROTECTED]>
> To: e-gold Discussion <[EMAIL PROTECTED]>
> Sent: Wednesday, October 11, 2000 1:33 AM
> Subject: [e-gold-list] Fw: Merchant Watch #38 Is PayPal Safe?
>
>
> > For your info
> > Kind regards,
> >
> > Michael Moore
> > [EMAIL PROTECTED]
> > http://www.gold-today.com
> > Sign up with e-gold today and get gramms of e-gold here.
> > https://www.e-gold.com/newacct/newaccount.asp?cid=129542
> >
> > > > -----Original Message-----
> > > > From: Merchant Watch [SMTP:[EMAIL PROTECTED]]
> > > > Sent: Tuesday, October 10, 2000 6:12 PM
> > > > To: [EMAIL PROTECTED]; Michael
> > > > Subject: Merchant Watch #38 Is PayPal Safe?
> > > >
> > > > Merchant Watch
> > > > Keeping Merchants Informed About The Payment Industry
> > > >
> > > >
> > > > --------------------------------------------------
> > > >
> > > > Does Your Credit History Suck?
> > > > Fix It For The Cost Of A Postage Stamp!
> > > > http://merchant-solution.com/tk.cgi?0cp
> > > >
> > > > ---------------------------------------------------
> > > >
> > > > Is PayPal Safe For Sellers?
> > > >
> > > > This issue of Merchant watch is going to be devoted to just one
> subject.
> > > > PayPal. PayPal blew in on the Internet scene about a year ago. Their
> > > > slogan was "Free safe way to send and receive payments online"
> > > >
> > > > This quote was taken from a discussion board dedicated to PayPal
> > questions
> > > >
> > > > "There is an x.com reversal of nearly $1000 right out of my checking
> > > > account"
> > > >
> > > > X.com PayPal is an online payment service provider.
> > > >
> > > > Recently, PayPal instituted a business type of account and requiring
> > > > bank account verification and promising that a verified business
> account
> > > > would never be subject to chargebacks providing the owner follows
> > > > a few rules. Furthermore they state in their TOS that they will
never
> > > > withdraw money from a person's bank account without permission. For
> > > > a mere 2.5% of each transaction you could have an automatic sweep
> > > > of funds into your bank account daily. This all sounded good.
> > > >
> > > > With the exception of the loss of customer's due to the fact they
> > > > would have to sign up with PayPal in order to send payments to a
> > merchant,
> > > >
> > > > I could not see any reason a merchant would not want this service.
> > > > BUT: There is always a BUT somewhere. PayPal went on to instituting
> > > > a transaction fee along with the percentage they withheld and now
> > > > their pricing is right up there with a real merchant account. That
> > > > is not all. Remember the "Safe" guarantee and the "never withdraw
> > > > money from your checking account guarantee"?
> > > >
> > > > I accidentally stumbled upon a WHOLE BUNCH of sellers using PayPal
> > > > that have nothing but HORROR stories and I think it is a good idea
> > > > to shed some light this. I would also like to point out some
> differences
> > > > between how a real merchant account would work in a similar
situation
> > > > and show you that having a real merchant account is safer than
having
> > > > a so called "Safe" PayPal account.
> > > >
> > > > PayPal withdraws almost $1000 from user's bank account. Note: X.com
> > > > owns PayPal. The user's comment below.
> > > >
> > > > "This gets worse by the minute. I went to the grocery store today
> > > > and my debit card was declined. I knew something was wrong because
> > > > the last time I looked I have over $1000 in my account. You guessed
> > > > it! There is an x.com reversal of nearly $1000 right out of my
> checking
> > > > account."
> > > >
> > > > The above quote was taken from a discussion board dedicated to
Paypal
> > > > questions etc.
> > > >
> > > > The thread can be found here
> > > >
> > > > http://otwa.honesty.com/forums/Forum16/HTML/000791.html ,and here,
> > > > http://otwa.honesty.com/forums/Forum16/HTML/000877.html
> > > >
> > > > If you take time to review the threads above, you will find several
> > > > PayPal users who had their entire account frozen and no access to
> > > > their money even while Paypal was still collecting payments. I am
> > > > not just talking about the disputed portion of the money. I mean all
> > > > of it!
> > > >
> > > > With a real merchant account, if a customer disputes a charge and
> > > > a chargeback results, the actual amount of the charge is pulled from
> > > > the merchant's bank along with a chargeback fee. The merchant
> > > > account-acquiring
> > > > bank is not going to freeze the entire merchant account just because
> > > > of a chargeback. They will deal with just the disputed portion and
> > > > the merchant continues to have access to the rest of the monies in
> > > > the merchant account. PayPal just freezes everything, the disputed
> > > > portion and everything else in the account. The only time an
acquiring
> > > > bank would freeze the entire merchant account is if the merchant is
> > > > committing fraud. NOT simply because the merchant accepted a credit
> > > > card that may have been stolen or the customer is committing
> electronic
> > > > shoplifting.
> > > >
> > > > Disclaimer, The above information was drawn from comments of
> > dissatisfied
> > > > users of PayPal and is only one side of the story. I have not
> contacted
> > > > PayPal at all about these claims.
> > > >
> > > > Thus, I can conclude this. It is safer to have your own merchant
> > account.
> > > >
> > > > Till next time,
> > > > Todd Sumrall
> > > > http://merchant-solution.com
> >
> > > >
> > > > You are subscribed as [EMAIL PROTECTED]
> > > >
> > > > Subscribe by sending an email with subscribe in the subject line to
> > > > [EMAIL PROTECTED]
> > > >
> > > > To un-subscribe or remove a second email address reply to this email
> > > > with un-subscribe in the subject line or send a email with
> un-subscribe
> > > > in the subject line to [EMAIL PROTECTED] Be sure
> > > > to send the exact email address you are subscribed with to
> unsubscribe.
> > > >
> > > > Reasons you may be subscribed:
> > > >
> > > > You are our merchant, you host with us, or, you are an affiliate.
> > > > You may have purchased one of our products. Parked your domain names
> > > > on our name servers. Downloaded one of a few free ebooks or scripts
> > > > we provide.
> > > >
> > > > Sites where you may have subscribed at by requesting a download or
> > > > ebook:
> > > >
> > > > Merchant-Solution.com
> > > > 1-Promote.com
> > > > Ez-CreditCard.com
> > > >
> > > >
> >
> >
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