Off topic but We were concerned with this ability of PayPal to lock an account for our non-profit org so we use a separate account and then just transfer funds in/out as needed - Paypal cannot lock that account so we don't worry and if they lock the used account there is little affect on the orgs ability to pay by check. Small hassle for peace of mind.
Erik > From: Dan <dantear...@gmail.com> > Reply-To: "g3-5-list@googlegroups.com" <g3-5-list@googlegroups.com> > Date: Thu, 7 Jan 2010 15:45:33 -0500 > To: "g3-5-list@googlegroups.com" <g3-5-list@googlegroups.com> > Subject: PayPal: Yea or Nay? > > Dan Knight wrote in his recent Musings column: >> PayPal: Yea or Nay? >> In my case, that's three strikes for PayPal over eight years. It's >> not a terrible track record, but PayPal's ability to stop you from >> using the money in your account without warning is a good reason to >> consider alternatives. Even if you don't stop using PayPal, you may >> want to have a second option available before you run into an >> unanticipated account lockout. > <http://lowendmac.com/musings/10mm/paypal-strikes.html> > > I feel for yee Dan. Paypal's policies and such can feel quite > draconian when they slam you in the face. But I gotta tell you - > they're a walk in the park compared to they way traditional card > processors handle small and medium sized businesses. You ain't lived > until one of those has a death grip on your bank account !!!!and > credit rating!!!!, and it takes a judge's signature to even begin to > fix it. And then, when all is said and done, you're totally > responsible for both your and their legal fees - it's in the contract! > > A few points: > > Lockin down your account when they recognized the hijack... You're > very lucky they noticed. Banks and "regular" processors provide $ > recovery IF you pay for that service. ( It's a PR thing for > residential customers ). Other than that, recovering the $3k is your > responsibility - that's why things like business insurances and tax > deductions exist. > > Monday's lockdown... Not sure what the deal is there with the cell > phone. I've had no problem there. Have you actually called them? > > The PRAM batteries... What? You didn't use LEM Swap?! humph. > > Paypal, btw, did not remove the funds from your account. That first > transaction, that expired, was simply a "hold". That's how credit > transactions work. First you do a hold. Then, some time later, you > confirm the transaction in your close-out batch, which causes the > funds to be queued for transfer. "Queued" = they'll do it eventually > when their up-steam close out is done. The problem is that a lot of > companies are lame about closing things out. They end up letting the > hold expire, or re-doing it instead of referencing the original one. > It's a bad business practice that the likes of Amazon do all the > time. Nothing Paypal can do about it normally; these are processing > steps they're under contract to perform, by the likes of Visa and MC. > If you have a big hold, that's crippling your account, you can call > them. They'll often manually release it. > > The fax requirement is a PITA. But that's our legal system - > doubtful Paypal can do anything there. > > Careful of them other services. Paypal has gone to great > lengths/expense to become licensed all over the world - and thus > subject to their regulations and laws. Few of those other's have. > > Are we having fun yet? > > Wait until you see the new/higher fees that Visa and MC are hitting > processors with this quarter! Not sure if Paypal or any other > processor will simply absorb them... :\ > > FWIW, > - Dan. > -- > - Psychoceramic Emeritus; South Jersey, USA, Earth. > -- > You received this message because you are a member of G-Group, a group for > those using G3, G4, and G5 desktop Macs - with a particular focus on Power > Macs. > The list FAQ is at http://lowendmac.com/lists/g-list.shtml and our netiquette > guide is at http://www.lowendmac.com/lists/netiquette.shtml > To post to this group, send email to g3-5-list@googlegroups.com > For more options, visit this group at http://groups.google.com/group/g3-5-list
-- You received this message because you are a member of G-Group, a group for those using G3, G4, and G5 desktop Macs - with a particular focus on Power Macs. The list FAQ is at http://lowendmac.com/lists/g-list.shtml and our netiquette guide is at http://www.lowendmac.com/lists/netiquette.shtml To post to this group, send email to g3-5-list@googlegroups.com For more options, visit this group at http://groups.google.com/group/g3-5-list
