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Paypal is holding over 600,000 euros from the minecraft developer

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Re: Paypal is holding over 600,000 euros from the minecraft developer

#121

Post by desigooner »

robgough wrote: post #74
mcherm wrote: post #22

Google is trying to create their own payment system. It hasn't gotten much traction. Why don't they go ahead and support countries throughout the world (if they want to leave out a FEW places like North Korea that would be fine)? Seems to me that then they would have a ready-made constituency. Not to mention pleasing a huge number of Android developers. Yet they don't do this... Why? There must be something difficult…

Is it also worth pointing out that Google isn't exactly known for it's high level of customer service. Is there any reason to think they won't be just as bad as PayPal if they had the same number of customers. I can't believe there isn't a better option yet, it's not like PayPal have suddenly become worse. Stories like this have been around for years.

google does many things well. customer service, not well at all. i had a torrid time dealing with them when i bought a nexus one when it launched.

Re: Paypal is holding over 600,000 euros from the minecraft developer

#122

Post by gdee »

mkice wrote: post #110
gdee wrote: post #94

Earlier quoted context omitted.

> I bet that somewhere in paypal, it works like DEA style > asset forfeiture, and the people who freeze accounts stand > to benefit financially, personally and directly. You'd lose that bet. They refund the money to the original payer. For better or worse. My company loses a few hundred euros each month to this. They keep asking for proof of delivery. Yet we sell internet access. No proof in that unless I'm willing t…

To get around this situation, mark your paypal invoices as 'Services' and they can not refund them at all (unless however the card was stolen, etc). But 'Services' don't require shipping proof.

Thanks for the advice. Will look into it.

Re: Paypal is holding over 600,000 euros from the minecraft developer

#124

Post by zackattack »

rumpelstiltskin wrote: post #108
zackattack wrote: post #91

PayPal recently pulled this stunt on me. While very frustrating at the time, especially since there was no phone support available for the next 3 days due to labor day weekend, at least now I have scanned copy of my Passport on my computer.

can you elaborate on this passport issue? are you in a foreign country?

no, but paypal wanted me to scan some form of identification to prove my identity. since my driver's license is expired and i'm no longer living in california, all i have is a paper driver's license that they mailed me, so i use my passport for identification purposes. if i am ever traveling in a foreign country in the future, it will be useful to have a digital copy of my passport in case i lose it and have to deal with embassy issues. i have not requested the dmv mail me a new driver's license since the picture was taken when i'm 15 and the inevitable "you look so different!" conversations are kinda lame

Re: Paypal is holding over 600,000 euros from the minecraft developer

#125

Post by auxbuss »

all wrote: post #77
mattmanser wrote: post #11

Earlier quoted context omitted.

They are a bank in Europe, just not the US. Sounds like the whole legal status in the US is a bit of a mess really: http://en.wikipedia.org/wiki/PayPal#Regulation

While that may be true, Luxembourg is known as a tax haven. I note that Amazon also registers its European operations there. From the same source as you cited: "Concern about Luxembourg's banking secrecy laws, and its reputation as a tax haven, led in April 2009 to it being added to a "grey list" of nations with questionable banking arrangements by the G20." [ http://en.wikipedia.org/wiki/Economy_of_Luxembourg#Bankin…

Paypal is a bank in Europe, as stated. I was one of those who lobbied to achieve this. I was burned by this odious outfit more than five years ago. You don't get two chances with someone else's money in their lifetime.

You can't be a bank "in nominal terms only" in Europe. Once registered as a bank you are bound by EU and Member State laws. There's no sidestepping that. Governments can't sidestep them.

The fact that Paypal is registered as a bank in a European Member State means that they must abide by these laws and the regulation that goes with it.

Remember, loser pays in European courts. So when a bank steps outside the law, it will be liable for costs and "damages". It is not in their interests to break or even "stretch" the law.

Regardless, I wouldn't do business with Paypal if you paid me. Well, perhaps I would, but pay it straight to my bank, and not via Paypal.

P.S. My fight goes on: this week I have been active again in the European Parliament with MEPs fighting to get the appalling ACTA spiked. Something we should all be aware of and striving to kill.

Re: Paypal is holding over 600,000 euros from the minecraft developer

#126

Post by jemfinch »

ergo98 wrote: post #70
jdietrich wrote: post #68

We've been going around in circles with stories like this for years. In spite of all the horror stories, people are still using PayPal. That would indicate to me that either PayPal are exploiting a monopoly position, or there is a massive gap in the market for a fast, easy payment system that doesn't treat serious customers like dirt. I completely understand the Googley argument that you can't provide much customer s…

There are exceedingly few global payment systems, almost none of which, from a consumer perspective, are as trustworthy and easy to use as PayPal: When it comes to small vendors, I'd much rather pay them through PayPal (where I can even pay from a bank account) than to give my CC numbers to some micro operation. PayPal, like all payment processors, deals with a large amount of fraud, yet they seem to manage to keep i…

> I'd much rather pay them through PayPal (where I can even pay from a bank account) than to give my CC numbers to some micro operation.

Really? I certainly wouldn't. I have recourse with American Express. They have far better fraud detection than Paypal, in large part because they know my spending habits far better than Paypal does. On the single instance I've dealt AMEX's fraud detection, they called me before they even authorized the fraudulent transaction, and overnighted me a new card when I confirmed their suspicions.

Paypal, on the other hand, flagged a transaction as potentially fraudulent simply because I had the purchase shipped to my workplace (a well known bay area address) and now they want me to go back to Kansas and wait at my home phone number for them to call and "verify my domicile." Screw that; my account can stay locked for all I care.

Re: Paypal is holding over 600,000 euros from the minecraft developer

#127

Post by paraschopra »

Artifex wrote: post #113

I keep wondering why there isn't a Ycombinator-funded paypal killer. I'm not a developer/coder/anything close to one, or I would do this myself. Come on, guys! Get on this!

Paypal was once losinf $100 million per month. Who is going to fund that in these non-2000 AD days?

Re: Paypal is holding over 600,000 euros from the minecraft developer

#128

Post by ergo98 »

jemfinch wrote: post #126
ergo98 wrote: post #70

Earlier quoted context omitted.

There are exceedingly few global payment systems, almost none of which, from a consumer perspective, are as trustworthy and easy to use as PayPal: When it comes to small vendors, I'd much rather pay them through PayPal (where I can even pay from a bank account) than to give my CC numbers to some micro operation. PayPal, like all payment processors, deals with a large amount of fraud, yet they seem to manage to keep i…

> I'd much rather pay them through PayPal (where I can even pay from a bank account) than to give my CC numbers to some micro operation. Really? I certainly wouldn't. I have recourse with American Express. They have far better fraud detection than Paypal, in large part because they know my spending habits far better than Paypal does. On the single instance I've dealt AMEX's fraud detection, they called me before they…

>Really? I certainly wouldn't. I have recourse with American Express.

When I pay with Paypal I have recourse with both Paypal AND my credit card. It doesn't remove that right.

>Paypal, on the other hand, flagged a transaction as potentially fraudulent simply because I had the purchase shipped to my workplace

Why is the fact that it's a well known Bay Area address of any significance at all? Paypal demands that shipped items only go to the address on record for the account. That seems pretty logical and of obvious value.

Re: Paypal is holding over 600,000 euros from the minecraft developer

#129

Post by jemfinch »

shin_lao wrote: post #4

The "paypal blocked my money" stories are frequent. I'm curious to which extent this is legal. I'm pretty sure a bank isn't allowed to block access to your accounts without a formal request from a legal entity. Paypal doesn't "own" the money. This sounds to me as extremely abusive. Is that this frequent?

> I'm curious to which extent this is legal. I'm pretty sure a bank isn't allowed to block access to your accounts without a formal request from a legal entity.

It's simple to explain: Paypal isn't a bank.

Re: Paypal is holding over 600,000 euros from the minecraft developer

#130

Post by blasdel »

lotusleaf1987 wrote: post #120
jdietrich wrote: post #68

We've been going around in circles with stories like this for years. In spite of all the horror stories, people are still using PayPal. That would indicate to me that either PayPal are exploiting a monopoly position, or there is a massive gap in the market for a fast, easy payment system that doesn't treat serious customers like dirt. I completely understand the Googley argument that you can't provide much customer s…

They probably also make a fortune on the interest accrued. I wonder if they defer to freezing accounts so easily is because they realize that it's easy money.

You would think so, and that was their original business plan — just make money off the float. Instead they ended up charging fees (30¢ + %3) to get to profitability.
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