Paypal and Crowdfunding: don’t do it
garethhayes.net
Paypal and Crowdfunding: don’t do it
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Re: Paypal and Crowdfunding: don’t do it
#2So many paypal stories like that. Why do people still use it?
Re: Paypal and Crowdfunding: don’t do it
#3So many paypal stories like that. Why do people still use it?
"many"? How many in absolute terms? How many in relative terms compared to the entire active userbase of paypal?
Re: Paypal and Crowdfunding: don’t do it
#4So many paypal stories like that. Why do people still use it?
"it won't happen to me"
Re: Paypal and Crowdfunding: don’t do it
#5So many paypal stories like that. Why do people still use it?
"many"? How many in absolute terms? How many in relative terms compared to the entire active userbase of paypal?
These stories depends on whether you are using PayPal as seller or buyer. Usually buyers don't run into these kind of trouble. Also there is dedicated website to share PayPal horror stories. http://letskillpaypal.com/?page_id=40
Re: Paypal and Crowdfunding: don’t do it
#6So many paypal stories like that. Why do people still use it?
"many"? How many in absolute terms? How many in relative terms compared to the entire active userbase of paypal?
Insufficient data for a meaningful answer.
However, given the preponderance of stories surrounding PayPal's abysmal customer service, I'd be inclined to avoid them just because it seems like you can be SOL really easy and the guy on the other side of the phone can't/won't do anything to help you.
Re: Paypal and Crowdfunding: don’t do it
#7So many paypal stories like that. Why do people still use it?
Because it works for most people, most people don't use it for "crowd-funding", and it's way better than any alternative (begining with existing in the first place: alternatives to easily handle worldwide payments and work across most of the world don't exist).
Re: Paypal and Crowdfunding: don’t do it
#8Good point to not waste time after your complaint is not handled as you'd like to contact the ombudsman, in Australia they are really aggressive.
I've seen 8k phone bills wiped (carrier not noticing the unusual overseas data usage and letting them know), laptops replaced years out of warranty (merchantable quality). Usually just mentioning you are going to escalate it to the ombudsman is enough, they get fined just for the complaint being filed.
Re: Paypal and Crowdfunding: don’t do it
#9It's not hard to understand.
Payment companies aren't going to give you other people's money as a free loan for selling future goods or services. From ticket sales of your first big event to crowd funding.
It violates every company's risk model. They have to hand you a huge chunk of money, allow you to cash out, and then wait for the chargebacks to come in months later. This kind of problem is spelled out in the tos.
What is the solution? Work with a company that will actually look into your financials and underwrite you. Braintree will do this. Your bank will do this. Authorize or whatever ancient CC processor will. Well, either they'll do it or tell you to move on before you've started processing with them. I think Stripe might have the same sort of instant approval, delayed rejection problem possible as paypal does here.
Don't try and use PayPal to avoid the underwriting process or prepare to have your heart broken.
Re: Paypal and Crowdfunding: don’t do it
#10Poor PayPal customer service was the reason I stopped using eBay.