PayPal: pros and cons

[Balog]

I've started doing more small transactions online, and I'm getting annoyed with running to the post office and spending $1.05 every time I buy a $7 item. But I'm leary of paypal. Aside from the anti-gun thing, I don't want to give them my bank info or just put it on a CC.

So am I being paranoid? Should I just relax and use it, or is there an alternative other than MO's?

[mtnbkr]

Been using it for years with a CC.  No problems with fraud or anything.

Unfortunately, there's nothing like them on the market, at least nothing as accepted.  Sometimes, they're the only payment method accepted...

Chris

[ilbob]

I have not had any trouble.

Some sellers have reported issues with them that took many months to resolve.

[Balog]

Been using it for years with a CC.  No problems with fraud or anything.

Unfortunately, there's nothing like them on the market, at least nothing as accepted.  Sometimes, they're the only payment method accepted...

Chris

Is there a fee to sign up? I seem to recall them adding like %3 on transactions.

[Gewehr98]

I've been using them since I first started using eBay, for buying and selling stuff, in 2003.

Pros:

1. Pretty secure.  I've upgraded to their Business Account, and have the PayPal debit card, etc.  No problems with my bank/credit card accounts being hacked to date, but there's always a first time.

2. More and more online businesses are accepting PayPal payment. That in conjunction with the PayPal debit card gives me a lot of flexibility.

3. PayPal's Dispute Resolution seems to work very well, too.  I've had to use it three times so far, as both a buyer and seller, and have had favorable results each time.

Cons:

1. They charge for each transaction.  Over the course of many transactions, it adds up.

2. They're a subsidiary of eBay.  Take that for what it's worth, but eBay is very anti-gun, and they're somewhat proactive on preventing gun-related transactions.  I was doing a great business selling reloadable brass on eBay until they banned it after the VA Tech shootings.

3. Having said that, I've bought and sold tons of gun-related stuff on eBay, and sent and received funds for such using PayPal.  Just camouflage the transaction descriptions, like everybody else does.  What they don't know won't hurt them.

4. I personally enjoy using an anti-gun company and subsidiary to further my pro-gun activities.  YMMV, of course.  

[charby]

3. Having said that, I've bought and sold tons of gun-related stuff on eBay, and sent and received funds for such using PayPal.  Just camouflage the transaction descriptions, like everybody else does.  What they don't know won't hurt them.

4. I personally enjoy using an anti-gun company and subsidiary to further my pro-gun activities.  YMMV, of course.  

I've done the same. Even put in the subject funds for anti gun control charity. :)

[Balog]

A subsidiary of ebay? I had no idea.

According to this page it's free to send money, one only pays to receive. Is this correct? I'm not looking to sell stuff, just smooth my buying eperience.

[mtnbkr]

Yes, free to buyers, but sellers have to pay a fee to get their cash.  Technically, that means it's not free to even buyers since seller would raise their prices to compensate...

Chris

[Balog]

Right. Sort of like shiiping costs: good things to negotiate. :D

[Gewehr98]

Yup. 

You can try to pad the shipping cost to offset PayPal's transaction charges, but eBay recently put shipping limits on smaller items, especially if that item is in their catalog of commercially-available goods.

I understand why they did so, because people were paying the rent/mortgage/utilities/kid's college via the S&H on one small item, but I've actually lost money on a couple items, the only benefit being maybe return customers and positive feedback.   

[Hawkmoon]

Aside from the e-Prey connection, I decline to use PayPal because they have the right to just go into your bank account or credit card and take out/back any amount that may be disputed by anyone you've done business with. You are then without YOUR money until the dispute gets resolved. Not even the courts or arbitration works that way. In all other methods of dispute resolution, the complainant has to prove their case before you have to pay back any money deemed due to the other party.

If you must use PayPal, open a separate bank account and/or credit card account and keep only a minimum balance in it.

[Balog]

I was actually going to set up a separate bank account for my disposable income anyway, so that works out well.

[Headless Thompson Gunner]

I sold a rifle over THR a few years ago and used Paypal to handle the money.  They canceled my account and permanently banned me for it.  I couldn't use paypal anymore even if I wanted to, which I don't.

[Mabs2]

I don't like the fact that it takes about two weeks for my money to show up in my PayPal account.
Could be my bank, but everything else they do is super fast.

[cassandra and sara's daddy]

i have a business account .  i like it cause i can take credit cards and never have their card number.that way i'm in the clear if there is any card fraud. in my experience as soon as the customer sends the money i get it almost immediately.i fix homes for guys overseas and its been very helpful 

[vaskidmark]

I used PayPal recently to collect $$ for a legal defense fund for a guy arrested for trespass in a public (city-owned) park.  The arrest was more than tangentally related to 2A issues, which was part of the reason I set up the PayPal account - yes, I enjoy little vicarious thrills as much as the next guy. :rolleyes:

PayPal charges you 3% "processing" on credit/debit cards after the first 3 per 30 days.  Straight "cash" transfers from checking or savings accounts to the PayPal account are free regardless of how many.  There is no charge to transfer from the PayPal account to your bank account.

There are other cash transfer systems out there, but as has been mentioned before, they are not as well recognized (read: have market share) by both vendors and buyers.  For example, GearPay www.gearpay.com was a fiesty little gun-friendly competitor for PayPal's market share after the no-firearms decision, but then this happened:

GearPay is extremely well funded, so no problems there.

The issue is nearly resolved and it centers around the fact that reliable PayPal "type" software is unavailable (someone seems to have made sure of that), so it has to be created (programmed) from scratch.

The original software GearPay was using was "adequate" for initial opening and dependability up to several thousand users, that point was reached and the software started to get a little froggy. Upon shutdown, no data was lost and no member privacy was infringed, it was simply a precaution we decided to take. The fact that you can see this page is evidence we are not gone.

The Upgraded software is being written as we speak, additional features added and faster reaction/service times factored in. Remember, GearPay was created as a ProGun way to snub the main online payment service, it was not brought online in an attempt to get rich. That means Customer Safety and Software Durability is the Main Concern.

This is where we are at currently. Being the best is what we strive for and it is still our mission statement. We will be back - as soon as able, the current political climate not withstanding.

Molon Labe!

The biggest "pro" regarding PayPal is also the biggest "con" - they have captured the market and those that are trying to take share away are generally folks who are not in it for the profit but to provide a service that does not have the TOS restrictions imposed by PayPal.

stay safe.

skidmark

[Thylacine]

I am still waiting for my last gearpay payment. I tried to get the last $23.00 put into my bank account, about 3 months ago. Still waiting.  Sure it is only 23 bucks, but it is MY 23 bucks. 

I was a very avid supporter for the pro 2a system, that gearpay represented.  I won't use Pay-pal unless they change their stance on guns, and gun related items.

[Harold Tuttle]

The antigun attitude is to avoid: "Ebay internet payment system used to buy arsenal that killer deployed in school"