EBAY Fraud- You lose all consumer protection rights
According to PayPal accepting their ToS (Terms of Service) in effect means you waive your rights to credit card consumer protection laws, and that you may not issue a chargeback for unauthorized use of your credit card and PayPal account. Is this legal? We don't know. But it's how Paypal operates. See my credit card waiver page for more information.
2. Their customer service is horrible. They hide their telephone number, (intentionally - by their own admission) and only provided support via "form" emails:
As for the customer service, Sollitto said they intentionally make the phone number very difficult to find in order to save costs."
If you have a problem, you are at their mercy! (And you will eventually have a problem.) Their number can be found by: clicking on "help" at the top of the page and then "contact us" at the bottom/left of their page, then "Customer Support Inquiries," near the middle of the page, then "Service Center" under the "Help by phone" toward the bottom/middle of the page. There you will find their non-toll free number. Or you can click on our FAQs page and it's right at the top, plus their toll free numbers as well.
3. Their terms of service are not completely disclosed upon signup and some key "conditions" are not disclosed. No place do they openly tell potential members that their money is 100% at risk. That PayPal can, will, and has in the past, completely cleaned out customers' accounts, (including your checking or savings account) with no appeals process available.
4. If PayPal feels your actions are questionable, PayPal is the investigator, judge, jury and executioner. "Telling your side" of what happened, in most cases seems to be irrelevant. They also refuse to provide you with the details of their investigation and withhold documents they relied upon to make their decisions. Your only contact will be an email that says:
Thank you for contacting PayPal. We apologize for the delay in respondingto your service request.
After review, the decision has been made to keep your account locked. Thisdecision cannot be appealed.
If you have any further questions, please reply to this email.
That will be end of it as far as PayPal is concerned. You can email back, but you'll just get more of the same.
5. If you are a bona fide, up-standing individual with hundreds of successful transactions, but someone pays you with a stolen credit card, your account (by PayPal's own admission) is immediately flagged as being "criminal behavior" and any money in that account is confiscated. If a customer "disputes" the charge, same thing happens. (See email above.)
6. PayPal's fees for credit card funding are now up to 2.9% plus $.35 per transaction. A money order costs $.50 to $1. The bank charges most businesses $.05 to $.12 per check. A good credit card merchant account is about 2.3%. (Plus you can contest chargebacks and have merchant rights.) On a $100 item, PayPal's fee is over $3. At one time, PayPal was the cheapest way to send money, but they are now one of the most expensive, plus you totally at their mercy in regards to chargebacks.
7. Paypal's fees for NON-credit card funding are the same as for credit cards! This is the single biggest rippoff on their site. We understand Paypal charging a fee when you fund your account with a credit card. After all, they are being charged by Visa/Mastercard, etc. And we understand there is a lot of fraud with credit card funding. However, most of the money sent within the Paypal system no longer comes from credit card funding. However, money spent from PayPal account to PayPal account is subject to the exact same fees credit card purchases are! This money has been in the system for years and is "clean." That is, there are no fees at all to Paypal, and there is almost no fraud at all with this money, but Paypal charges the SAME fees to transactions with NON-credit card funds! Thus every transaction makes PayPal money, but it's nothing more than an entry in a computer database on their system. No money has actually moved, and there are no costs envolved to Paypal. They are just skimming the gravy.
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