[TriLUG] OT: PayPal - Good or Bad

[Steve Litt]

On Saturday 24 February 2007 08:40, Michael Rulison wrote:
> This list is very active on several off topic areas, so...
>
> I have heard that PayPal follows its own procedures on when and whether
> to remit balances it holds to the bank accounts of person who have set
> up accounts there and that these procedures differ from those of banks
> and are not subject to government regulator review, that the only
> external review is if you have the funds to go to court. More
> specifically, that it may hold funds indefinitely declaring that they
> were obtained from persons engaged in illegal activities.
>
> While my own few experiences have been satisfactory, I wonder whether
> there is any body of evidence or opinion to the contrary that deserves
> respectful consideration?
>
> Thanks.

If you're a smalltime business like mine, PayPal is a way to start taking 
credit cards within a couple days, with very little work.

As far as their freezing your account, set up a bank account in a bank in 
which you have no other accounts. When your Paypal account gets more than 
you'll need for possible refunds to recent transactions, withdraw the 
remainder to that account. Frequently withdraw funds from that account so 
that, if some defective customer complains enough to freeze your account, 
you're out little money relative to your monthly sales.

Troubleshooters.Com has accepted credit cards through Paypal's "shopping cart" 
since April. It almost doubled my book sales to do so, and I've had no 
problems.

I think a lot of the problems discussed about Paypal were from before they 
were owned by Ebay.

HTH

SteveT

Steve Litt
Author: Universal Troubleshooting Process books and courseware
http://www.troubleshooters.com/