Re: [FWDLK] Ebay

[Ray Jones <hurst300@xxxxxxxxxxxx>]

Hi Lou;
As a very long time user of PayPal, I disagree. If I'm in a selling 
mode, there may be some money in the PayPal account, so that is what 
pays for my purchases. But usually as soon as I sell something, I move 
that money into my bank and leave little or nothing with PayPal.
It has never taken longer than 3 days for the transfer and it's usually 
only 2 days. If I then buy something they get it from my PayPal account 
or reach into my bank account for the funds or the difference between 
what I had in my PayPal account and the amount needed for the purchase.
 I generally leave enough to pay my monthly eBay fees. eBay notifys me 
of the fees for a given month at least 21 days before they go for them.

There are NO limits after you are verified as a user:


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?What is the Withdrawal Limit for new U.S. accounts?

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?New account holders are limited to withdrawing $500.00 USD per month 
from their PayPal account. The start of a month is marked when the 
PayPal account is opened (e.g. May 15 to June 15).

The Withdrawal Limit can be removed by authenticating your identity.

 To authenticate your identity, you must complete two of the following 
three requirements:
	• 	Add and Confirm a bank account
	• 	Enter your Expanded Use Number
	• 	Confirm your Social Security Number
After the above is done, it's YOUR money, withdraw it.

In all the years since PayPal started, I've never had any trouble. If 
you are leery of doing it that way, open a checking account in a 
different bank (most of us old farts get free checking) and use it only 
for PayPal. That way all they can get is what you have in that account. 
When you buy, just deposit the needed amount and you're safe. When you 
sell, transfer from it from PayPal then write yourself a check and 
clean it out.

You can also get a PayPal ATM/Debit Card. This can be used like a 
normal credit card to buy things against your PayPal balance or to 
withdraw funds from Your account at an ATM (ATM fee applies)

And finally, the Feds are looking hard at PayPal and about to impose  
some regulation on them, last I heard.

Hope this helps, Ray


On Mar 9, 2006, at 11:50 AM, Lou wrote:

> Yes, paypal is very convenient, and I prefer to use it (I have only 
> BOUGHT on ebay, though).
> But there is more than just the cost to sellers.  Paypal has in effect 
> become an unregulated bank (unless they are finally being regulated??) 
>  wth direct access to your bank account to add and remove funds, (you 
> must become a verified member and give your banking info after you 
> reach your initial spend limit).
> The last time I checked, there were still limits to how much money per 
> month you can transfer FROM your paypal account into your bank 
> account, so high volume/high dollar sellers are less inclined to use 
> it once they get burned.  They have to pay to use the service, PLUS 
> they are forced to keep a balance at paypal.  I wonder what paypal is 
> doing with that money?   I have read lots of horror stories revolving 
> around the fact that a seller's entire account account is frozen if 
> there is any accusation of a bad transaction.  People have had 
> thousands of dollars sitting there for months until the Paypal decides 
> whether or not the claim against them is valid.
>
> check out http://www.paypalsucks.com/
>
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