I wish I knew what documents PayPal demanded.
I wish I didn't have to enable JavaScript to see anything other than an empty white browser.
Paypal and Crowdfunding: don’t do it
41–50 of 50 posts
Re: Paypal and Crowdfunding: don’t do it
#42Weird he or she blames PayPal much more than Indiegogo. PayPal is the one who carries all the risk (if you aren't legit and people demand their money back after you fled) while IG watches this play out in their front yard over and over again and says nothing. And the reference to a rifle and other sections about physical violence being the only way PayPal will learn are disturbing.
Oh, but Paypal has been doing this to a whole lot of people for a very long time. There's plenty of horror stories of this kind. In fact, he should've known that they are really, really biased against crowdfunding, pre-paying for events and processing lots of payments for non-physical goods. The reasons technically make sense, but in reality, they should be able to do that without issues - it's not the early 00's, af…
Agree wholeheartedly that PayPal's issues with crowdfunding are well known.
Re: Paypal and Crowdfunding: don’t do it
#43So many paypal stories like that. Why do people still use it?
Because most other payment providers (say Stripe) require a credit card, which is, at least in Germany, a not very popular payment option (the prefered payment option there is SEPA direct debit). I often have the impression that lots of vendors forget that in other countries (say, Germany) not everbody has and is willing to get a credit card and other payment options are prefered. Paypal provides them (in this case S…
This, also in the Netherlands. iDeal is the common option here, but usually only offered by Dutch shops. The only other options are PayPal and Bitcoin, so...
Most vendors I talk to aren't even aware that there exist countries where creditcards aren't commonplace.
Re: Paypal and Crowdfunding: don’t do it
#44Earlier quoted context omitted.
Because most other payment providers (say Stripe) require a credit card, which is, at least in Germany, a not very popular payment option (the prefered payment option there is SEPA direct debit). I often have the impression that lots of vendors forget that in other countries (say, Germany) not everbody has and is willing to get a credit card and other payment options are prefered. Paypal provides them (in this case S…
Can you tell me if SEPA provide some kind of buyer protection? I bought a few parts on eBay and paid with SEPA, but there's no mention of any protection in case the seller is fraudulent, felt a bit uneasy unlike when paying with Paypal :-). Do you just call the bank and tell them to reverse the transaction? Thanks!
Generally your bank will handle these issues, yeah. SEPA is more a protocol than a service.
Re: Paypal and Crowdfunding: don’t do it
#45Earlier quoted context omitted.
I use a PayPal merchant account for my very small side-business, selling a specialized gadget that's not very expensive. Over the past 7 years, PayPal has been utterly flawless. I have had zero issues. I monitor web forum chat, and enough people have commented about my product that I would know it if someone had a bad experience, or was reluctant to buy from me, due to PayPal. This is without discounting any of the h…
Stripe, Amazon Payments, WePay, & Square come to mind. Paypal is great, until it isn't.
None of these are usable as a customer, in a country where creditcards aren't commonplace (eg. the Netherlands, Germany, ...)
Re: Paypal and Crowdfunding: don’t do it
#46Paypal is absolutely not freezing accounts to earn interest, that's absurd. Paypal, and other money transmitters have a business model that earns them ~1% profit for a non-fraudulent transaction and -100% profit for a fraudulent transaction. That's just the nature of the game when you're in payments. That means paypal cares ~100x more about preventing fraud than keeping you happy.
> Paypal is absolutely not freezing accounts to earn interest, that's absurd.
Then why else are they doing it, on cases where no investigation is pending (not for fraud or otherwise), and they have already decided to terminate your account?
Re: Paypal and Crowdfunding: don’t do it
#47Remember me this:
"Scottish Ruby Conference 2008-2011..."
Re: Paypal and Crowdfunding: don’t do it
#48Earlier quoted context omitted.
Can you tell me if SEPA provide some kind of buyer protection? I bought a few parts on eBay and paid with SEPA, but there's no mention of any protection in case the seller is fraudulent, felt a bit uneasy unlike when paying with Paypal :-). Do you just call the bank and tell them to reverse the transaction? Thanks!
For basic SEPA, You can order the bank to reverse the transaction for up to 8 weeks afterwards. There are different kinds of SEPA transfers though, and I think its different between companies.
There are two kinds of SEPA direct debits (Lastschrift):
- SEPA Core Direct Debit
- SEPA Business to Business Direct DebitOnly the first one is used when you buy things in the internet (the second one is only important for B2B transactions). It can be reversed without giving any reasons for 8 weeks. If you have not authorized (in other words: it was fraudulent) even for 13 weeks. If you reverse it, though it was legal, it's the vendor that has the problem (and has to collect the money). That's why often only larger vendors will accept SEPA direct debit (small vendors will often insist that you use SEPA credit transfer instead that is a lot less customer-friendly in case of a fraudulent vendor). SEPA credit transfer is in my opinion not suitable for "fast, spontanous" payments, though, for reasons I won't explain here.
Re: Paypal and Crowdfunding: don’t do it
#49Earlier quoted context omitted.
The thing about paypal is that when it works its fairly nice service, and people do not understand (or read terms) that it is not THEIR money displayed by digits on screen, but money held by a private company who does everything to not be regulated like a bank would. So average people then demand merchants accept Paypal and throw a hissy fit when the merchant balks rightly pointing that beside the fees there is a ver…
> who does everything to not be regulated like a bank would People say things like this all the time and I don't understand the basis for the claim. What does PayPal do to not be regulated like a bank? They're perhaps the single most heavily regulated financial company in existence. They operate in more countries [1] than almost any other, and each of those countries regulates them in some way. In some of those count…
When my money was frozen by 6 months (they didnt tell me duration back then) I rang the Irish Financial Services Ombudsman who resolve issues with banks and various financial services.
When I mentioned Paypal I was basically told they are a private company and they can do whatever the hell they want and I was the bigger eejit for using them (not in those words but more official wording of course...) and they could not help me and to go complain to the Consumer Protection service
I got my money back eventually. I still do not know why my account was closed years later and they refuse to tell me. every time I ring and ask I am told I will receive an email from someone with shitty Indian accent, but of course never happens as they fob me off. They still have my financial information on file which I suspect is actually violating Data Protection laws and rules here, i might make a call to Data Protection Commissioner about this now that I think of it.