PayPal, Is it worth it anymore?
Thread Starter
Registered User
Joined: Feb 2009
Posts: 11,882
From: Brazil Indiana
PayPal, Is it worth it anymore?
PayPal was going to fine people $2500 if they pushed misinformation. But who was going to determine if it is misinformation? Many things I posted on FB over the past few years was called misinformation at the time I posted them and now have been proven true. PP claims now that it was an error and not supposed to be their policy. They are lying and maybe should pay each of us the $2500 for misinformation now.... There is no way this was an error, someone had to write this policy and lawyers I am willing to bet reviewed it. Either way, My Pay Pal is linked to an account with no money in it now so they are not getting it from me. May be time to close my PayPal all together.
https://www.foxbusiness.com/economy/...rror-spox-says
https://www.foxbusiness.com/economy/...rror-spox-says
Old(s) Fart
Joined: Mar 2007
Posts: 50,770
From: Northern VA
PayPal was going to fine people $2500 if they pushed misinformation. But who was going to determine if it is misinformation? Many things I posted on FB over the past few years was called misinformation at the time I posted them and now have been proven true. PP claims now that it was an error and not supposed to be their policy. They are lying and maybe should pay each of us the $2500 for misinformation now.... There is no way this was an error, someone had to write this policy and lawyers I am willing to bet reviewed it. Either way, My Pay Pal is linked to an account with no money in it now so they are not getting it from me. May be time to close my PayPal all together.
https://www.foxbusiness.com/economy/...rror-spox-says
https://www.foxbusiness.com/economy/...rror-spox-says
Registered User
Joined: Jan 2010
Posts: 2,547
Yeah, got my notice the other day. I was like, WTF? I've already deleted my outside accounts from it anyway 8 months ago as I'm not going to do 1099Ks from those ********, and after that notice, I just deleted the entire account altogether.
They're now reporting they're backing up the truck and claim they weren't going to do that. That section was sent out "in error" they said. Well, someone thought it, wrote it, included it in with the policies that were signed off on by the brass, so I believe it's now a "clean up on aisle 7" ordeal where they got caught with their hand in the cookie jar. Keep in mind, eBay owns their ***, so it's probably the brass at eBay doing it.
Paypal isn't social media so they shouldn't act like it. They're not supposed to be the propaganda machine they're apparently becoming. Go woke, go broke. Suck it, Paypal.
They're now reporting they're backing up the truck and claim they weren't going to do that. That section was sent out "in error" they said. Well, someone thought it, wrote it, included it in with the policies that were signed off on by the brass, so I believe it's now a "clean up on aisle 7" ordeal where they got caught with their hand in the cookie jar. Keep in mind, eBay owns their ***, so it's probably the brass at eBay doing it.
Paypal isn't social media so they shouldn't act like it. They're not supposed to be the propaganda machine they're apparently becoming. Go woke, go broke. Suck it, Paypal.
same but different
Joined: Jun 2007
Posts: 2,963
From: Central Missouri
Ebay doesn't own pay pal. The began the split up in 2015, finalized in 2018.
https://www.fintechfutures.com/2021/...s-into-effect/
I stopped using pay pal a couple of years ago.
https://www.fintechfutures.com/2021/...s-into-effect/
I stopped using pay pal a couple of years ago.
Registered User
Joined: Dec 2015
Posts: 487
From: Louisiana
PayPal used to have some teeth against users on their system committing fraud. Not any longer. My wife tried to buy something from someone whom was selling it online. Sent her money to hold the item on PayPal. The person then came back and said someone else wanted to pay more for it. At that point My wife sensing a scam said then give me my money back and I’m moving on. Turns out the person never had the item they were selling. She called PayPal and her credit card to halt the payment within hours. All PayPal said was they would investigate and finally came back and said the transaction went through as designed. Not their problem even though we could prove through correspondence that the person was scamming others. Buyer beware. PayPal is now basically a cash transfer system. Oh and my bank that has my credit card that was in PayPal has tentatively given my money back as they investigate. At least they did something about it.
Registered User
Joined: Jan 2010
Posts: 6,096
From: central Indiana
I rarely use my PayPal anymore, and when I do it’s usually with people I know or meet here on this forum. Fortunately, I have never been burned.
It sucks that people are always looking for new ways to screw others. Seems if half the effort was put into legitimate work, the world would be a better place.
It sucks that people are always looking for new ways to screw others. Seems if half the effort was put into legitimate work, the world would be a better place.
Last edited by matt69olds; Oct 9, 2022 at 08:16 AM.
'70 4-Speed W Machine
Joined: Feb 2020
Posts: 1,247
From: North GA
I’ve had a PP account since 2005, when I did have a loss PP sided with me. Good record keeping is a must to support your claim. Filing a clear and cohesive claim along with supporting documentation, such as, text messages, emails, and pictures is paramount when a claim in filed.
Now, several distinctions need mentioning here:
- No one has buyer protection when buying a used car and paying with a PP account.
- Buying used car parts does come with buyer protection; however, if you send the money using family and friends, of course you as the buyer have no recourse if something goes wrong. In fact, one never has recourse using family and friends’ option.
Paul, I’d keep an eye on that credit card statement because I’ve found the credit card company, in my case, Capital One, is not the best at claim investigation. In some cases, they (the seller) will resubmit the charge in question after the initial chargeback. Further, credit card companies do not communicate directly with the seller, so don’t be under the impression that the credit card company’s investigative arm works like PP does.
I’ve lost money using the credit card company as a result of purchases gone awry, but like I have said, that has never been the case using PP.
Now, several distinctions need mentioning here:
- No one has buyer protection when buying a used car and paying with a PP account.
- Buying used car parts does come with buyer protection; however, if you send the money using family and friends, of course you as the buyer have no recourse if something goes wrong. In fact, one never has recourse using family and friends’ option.
Paul, I’d keep an eye on that credit card statement because I’ve found the credit card company, in my case, Capital One, is not the best at claim investigation. In some cases, they (the seller) will resubmit the charge in question after the initial chargeback. Further, credit card companies do not communicate directly with the seller, so don’t be under the impression that the credit card company’s investigative arm works like PP does.
I’ve lost money using the credit card company as a result of purchases gone awry, but like I have said, that has never been the case using PP.
Last edited by tnswt; Oct 9, 2022 at 06:00 PM.
Registered User
Joined: Jul 2009
Posts: 5,190
From: Birmingham,Alabama
It was an attempt by a liberal organization to surpress free speach but they got caught. They were losing accounts and now have back slid.
https://citizenfreepress.com/breakin...to-fine-users/
https://citizenfreepress.com/breakin...to-fine-users/
Registered User
Joined: Aug 2013
Posts: 12,766
From: Evansville, IN
I'm on an audio forum where it is a big thing to be a subscriber, and people are blatantly wanting paypal F&F for their stuff, and, when you're like I don't know you from Adam, they're all like being subscribers means we're all a big family. Meanwhile, the admins of the site are all we don't recommend paypal F&F and you're on your own for disputes.
Plus, unlike the sharp, elderly guys we have here on this site, some of them are in serious cognitive decline in their 80s and you can't explain to them how it is logically inconsistent to be both risk-avoidant for yourself in financial transactions, yet be perfectly ok with the other guy being forced to take all the risk. It's the "I got mine, F you" mentality writ large.
I will happily buy from people I know on here with F&F, did so this morning. I have found using a dash, literally -, works in the description field of What Is This For. Do not put your address there, it will make it go "Pending" for several hours. None of these are reviewed by people the first pass, the idea is to get past the machine without flag.
Plus, unlike the sharp, elderly guys we have here on this site, some of them are in serious cognitive decline in their 80s and you can't explain to them how it is logically inconsistent to be both risk-avoidant for yourself in financial transactions, yet be perfectly ok with the other guy being forced to take all the risk. It's the "I got mine, F you" mentality writ large.
I will happily buy from people I know on here with F&F, did so this morning. I have found using a dash, literally -, works in the description field of What Is This For. Do not put your address there, it will make it go "Pending" for several hours. None of these are reviewed by people the first pass, the idea is to get past the machine without flag.
Shoveling Snow
Joined: Aug 2008
Posts: 2,728
From: Yoder-Hey-Land
https://l.facebook.com/l.php?u=https...tn__=%2CmH-R&c[0]=AT3VzeNwDSh14L-pGRkjHU4uNhLOCUGb13hpju6QP_kzkYfyT_y52WTP2ab0PryLI i_m0I1dJB5jrD9vjFB1ptBVuPcKaXvmlxjKCmEbltNM14Z6TjE CoqiopwrAhlIOmYHGuQsd3KtkhAlFbuqGG5b778T-2cOfHjHQsqRNUI3ff2W-xdKHmUeWsd3jKCXpNVTtsqXS_DkaHPZmPRs
Registered User
Joined: Jan 2010
Posts: 2,547
So Paypal sends out this misinformation, violating their own "policy", so I think they owe each and every person who had a Paypal account $2,500.
I still think they put it out as a floating balloon to see if they could get away with it, and if so, it would slide into being actual concrete policy. People pushed back and only then they backtracked until they can find another way to make it so. That's all it was.
Too little, too late, though. Keep an eye on their stock Monday (PYPL on NASDAQ). It was worth $308 in July 2021, and it's been on a steady decline ever since. Now it's worth $90, about the place it was 3 years ago. I've got a feeling it'll probably drop 10%, or, hopefully much more, on Monday. That will be their "fine" for even proposing doing that stupid stuff. Just proposing such stupid policies should hurt.
I still think they put it out as a floating balloon to see if they could get away with it, and if so, it would slide into being actual concrete policy. People pushed back and only then they backtracked until they can find another way to make it so. That's all it was.
Too little, too late, though. Keep an eye on their stock Monday (PYPL on NASDAQ). It was worth $308 in July 2021, and it's been on a steady decline ever since. Now it's worth $90, about the place it was 3 years ago. I've got a feeling it'll probably drop 10%, or, hopefully much more, on Monday. That will be their "fine" for even proposing doing that stupid stuff. Just proposing such stupid policies should hurt.
Registered User
Joined: Jul 2009
Posts: 5,190
From: Birmingham,Alabama
So Paypal sends out this misinformation, violating their own "policy", so I think they owe each and every person who had a Paypal account $2,500.
I still think they put it out as a floating balloon to see if they could get away with it, and if so, it would slide into being actual concrete policy. People pushed back and only then they backtracked until they can find another way to make it so. That's all it was.
Too little, too late, though. Keep an eye on their stock Monday (PYPL on NASDAQ). It was worth $308 in July 2021, and it's been on a steady decline ever since. Now it's worth $90, about the place it was 3 years ago. I've got a feeling it'll probably drop 10%, or, hopefully much more, on Monday. That will be their "fine" for even proposing doing that stupid stuff. Just proposing such stupid policies should hurt.
I still think they put it out as a floating balloon to see if they could get away with it, and if so, it would slide into being actual concrete policy. People pushed back and only then they backtracked until they can find another way to make it so. That's all it was.
Too little, too late, though. Keep an eye on their stock Monday (PYPL on NASDAQ). It was worth $308 in July 2021, and it's been on a steady decline ever since. Now it's worth $90, about the place it was 3 years ago. I've got a feeling it'll probably drop 10%, or, hopefully much more, on Monday. That will be their "fine" for even proposing doing that stupid stuff. Just proposing such stupid policies should hurt.
Registered User
Joined: Apr 2013
Posts: 837
From: Great Lake State: SE MI
It's a good idea to delete all your personal information first. Apparently they are now making that nearly impossible. That data is very valuable to them.
Registered User
Joined: Jan 2009
Posts: 786
From: USA Ohio
If I am buying a item I really want but am not sure of the sellers intent, I use PP with buyer protection and kick in a few extra bucks to cover most of the fees. Same deal for the seller and the protection is good peace of mind on my end. Most of the time you make a instant friend helping them out on the fees end. Once in a while you get someone who wants F&F no matter what AND THAT is the flag I won't ignore.
Registered User
Joined: Jul 2009
Posts: 5,190
From: Birmingham,Alabama
Paypal works great for me as a buyer and seller. Very very few hiccups over many years, as long as the service has existed actually.
If I am buying a item I really want but am not sure of the sellers intent, I use PP with buyer protection and kick in a few extra bucks to cover most of the fees. Same deal for the seller and the protection is good peace of mind on my end. Most of the time you make a instant friend helping them out on the fees end. Once in a while you get someone who wants F&F no matter what AND THAT is the flag I won't ignore.
If I am buying a item I really want but am not sure of the sellers intent, I use PP with buyer protection and kick in a few extra bucks to cover most of the fees. Same deal for the seller and the protection is good peace of mind on my end. Most of the time you make a instant friend helping them out on the fees end. Once in a while you get someone who wants F&F no matter what AND THAT is the flag I won't ignore.
Registered User
Joined: Jan 2010
Posts: 2,547
Paypal works great for me as a buyer and seller. Very very few hiccups over many years, as long as the service has existed actually.
If I am buying a item I really want but am not sure of the sellers intent, I use PP with buyer protection and kick in a few extra bucks to cover most of the fees. Same deal for the seller and the protection is good peace of mind on my end. Most of the time you make a instant friend helping them out on the fees end. Once in a while you get someone who wants F&F no matter what AND THAT is the flag I won't ignore.
If I am buying a item I really want but am not sure of the sellers intent, I use PP with buyer protection and kick in a few extra bucks to cover most of the fees. Same deal for the seller and the protection is good peace of mind on my end. Most of the time you make a instant friend helping them out on the fees end. Once in a while you get someone who wants F&F no matter what AND THAT is the flag I won't ignore.
While I don't believe I'd be running around spewing hate speech and what not, I'll be damned if I "allow" a private company to fine me thousands of dollars for saying something they don't agree with and them be the judge and jury to decide that via a user agreement. Where's it going to end? At my participation, that's where.
It's a choice, and I no longer choose to do business with those ******** based on how they planned to steal money from people they don't like. What would you do if Classicoldsmobile.com decided that you have to pay them $2500 if you own a Ford? If it's in the user agreement you signed, you would.
Not sure if Paypal would even have the power to levy fines for people with such nebulous rules to violate, but that "error" was no honest mistake in my eyes. Do as you wish, but Paypal is history as far as I'm concerned.
Moderator
Joined: Jul 2007
Posts: 18,201
From: Edmond, OK
Interesting thread. I read through all of the comments. I used PayPal a few times 5 or 6 years ago. It was never for a transaction for more than a few hundred dollars. Thankfully, I wasn't burned.
Is that Square credit card reader a viable option? I have no idea how it works but I've used it as a buyer and it seems secure.
Running On Empty
Joined: Jul 2018
Posts: 25,797
From: Earth
PayPal Holding Inc has become the first foreign operator with 100% control of a payment platform in China, according to Chinese government data, as the U.S. fintech giant eyes a bigger foothold in a booming market for online payments.
PayPal acquired the 30% stake it doesn’t already own in China’s GoPay, formally known as Guofubao Information Technology Co., on Dec. 31, 2020, according to shareholder data from the National Enterprise Credit Information Publicity System.
Financial details weren’t disclosed in the data. The stake purchase came a year after PayPal bought a 70% stake in GoPay for an undisclosed amount，then becoming the first foreign company licensed to provide online payment services in China.
SOURCE: https://www.reuters.com/article/us-c...-idUSKBN29J0IC
Running On Empty
Joined: Jul 2018
Posts: 25,797
From: Earth
PayPal is an eCommerce "Holdings Company", below I will list the top ten owners of PayPal Holdings. The President & CEO of PayPal remains Dan Schulman (since 2014).
The Vanguard Group, Inc. 8%
BlackRock Fund Advisors 4%
SSgA Funds Management, Inc. 4%
Comprehensive Financial Management 3%
Geode Capital Management LLC 2%
Fisher Asset Management LLC 2%
Polen Capital Management LLC 1%
Northern Trust Investments, Inc. 1%
Fundsmith LLP 1%
Norges Bank Investment Management 1%
(27% ownership by investment institutions)
Top 10 Mutual Funds Holding PayPal Holdings Inc.
Vanguard Total Stock Market Index 3%
Vanguard 500 Index Fund 2%
Invesco QQQ Trust 1%
SPDR S&P 500 ETF Trust 1%
Fidelity 500 Index Fund 1%
iShares Core S&P 500 ETF 1%
Fundsmith Equity Fund 1%
Government Pension Fund - Global 1%
Vanguard Growth Index Fund 1%
Vanguard Institutional Index Fund 1%
The Vanguard Group, Inc. 8%
BlackRock Fund Advisors 4%
SSgA Funds Management, Inc. 4%
Comprehensive Financial Management 3%
Geode Capital Management LLC 2%
Fisher Asset Management LLC 2%
Polen Capital Management LLC 1%
Northern Trust Investments, Inc. 1%
Fundsmith LLP 1%
Norges Bank Investment Management 1%
(27% ownership by investment institutions)
Top 10 Mutual Funds Holding PayPal Holdings Inc.
Vanguard Total Stock Market Index 3%
Vanguard 500 Index Fund 2%
Invesco QQQ Trust 1%
SPDR S&P 500 ETF Trust 1%
Fidelity 500 Index Fund 1%
iShares Core S&P 500 ETF 1%
Fundsmith Equity Fund 1%
Government Pension Fund - Global 1%
Vanguard Growth Index Fund 1%
Vanguard Institutional Index Fund 1%
Registered User
Joined: Jul 2009
Posts: 5,190
From: Birmingham,Alabama
Thread Starter
Registered User
Joined: Feb 2009
Posts: 11,882
From: Brazil Indiana
Who cars about the source. I don't know if it is true or not yet, I will look into it. Do you have anything that shows it is not accurate or do you just want to push an agenda of right and left. Even CNN can get a story correct on a rare occasion so I don't often discredit the source.
'70 4-Speed W Machine
Joined: Feb 2020
Posts: 1,247
From: North GA
I sure consider the source of information sourced online today, especially if I am contemplating a purchase, service, or simply reading the current news.
That said, try ALLSIDES.COM when you read a crazy story online. Usually, the story will show up on that site, and this outlet reports all three sides, Left, Middle, and Right.
That said, try ALLSIDES.COM when you read a crazy story online. Usually, the story will show up on that site, and this outlet reports all three sides, Left, Middle, and Right.
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