This crap by Paypal is something that should be illegal! it's true that
sellers with less than 100 feedback will have their funds placed on
hold. Do you have ANY idea how this "Buyer Protection" actually works
logistically? Paypal places a hold on the funds of the seller for up to
21 days until the buyer receives their item and/or gives positive
feedback. This means the seller is forced to not oly wait until the
"buyer" decides to give feedback, but they also must dip into their own
pocket to ship and item that the buyer is supposed to pay shipping for.
Paypal and Ebay decided to "secure" the order with the sellers money to
"protect the buyer". Paypal risks nothing, the buyer risks nothing, and
the seller not only risks the cost of the item, they must now increase
their overall costs to cover the extra shipping expenditures caused by
these arbitrary holds on the funds. Meanwhile, during that 21 day
period, Paypal is earning interest on that money. What of the earnings
that Papal is making during that 21 day hold? How many millions of
dollars from how many thousands of sellers is tied up during this time?
Even 1/2 percent in interest on $1 Million over 21 days is $5000. Do
sellers see any of those earnings? Nope. Paypal pockets this money and
no one says a word. It should be illegal. It's a policy Paypal and Ebay
have formed simply as a cash machine. Oh yeah, one more thing, does
ANYONE else see the obvious conflict of interest that Ebay has in owning
it's own payment gateway? This is basically forcing ALL sellers to
accept only Paypal as the primary payment method, or get their own
merchant account. Both of which increases sellers costs. Hell, sellers
aren't even allowed to accept money orders or personal checks anymore.
All this is designed to increase Paypal's earnings through the fees
associated with processing these payments that would normally be paid
for by check or money order. LOL I think it's funny people promote
Ebay's Buyer Protection without a second thought. It should be called
"Seller Extortion" instead. Whatever...
Eric
On 9/1/2010 9:03 AM, [email protected] wrote:
Tom, List,
Apparently there is some cofusion about ebay buyer protection.
It is a great thing and it is worry free if you follow directions as follows
here.
Pay pals number is 800-514-4920.
I just called and Amy explained it completely and eBay now has 100% buyer
protection. Guaranteed.
The particulars are;
1. Must be an eBay purchase.
2. Must be paid to PayPal linked through eBay.
In other words don't pay directly at PayPal site. Pay only by using link
through eBay so, the transaction number is on the payment itself.
3. Sellers with under 100 feedbacks will not have your funds released until one
of
the following ;
either 21 days pass. or seller supplies eBay with a delivery confirmation
showing the item has been delivered to you. or you leave the seller positive
feedback. So, for the first 21 days things are easy.
All that said. EBay guarantees all sales with no dollar limit for 45 days.
Period.
You are guaranteed not to be ripped off on every eBay sale.
There is absolutely NO risk at all to any buyer at any time. So, yes buy from
anyone . even people with zero feedbacks are okay.
She noted that this has only been the policy for about a year. Prior to that
people could lose but not any more..
She went on to say that if you click on the words "buyer protection plan" this
is all explained in writing as well.
I am going to post this last part on list but to be sure if you would respond to
it ON LIST to make sure it posts. Thanks.
Carl
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