PayPal holding payment from customers

Brooker_Dave

RFW wrote: »

So you must have missed this bit (again this only refers to the US)

This would be Paypal the American company who run their operation from America?

RFW wrote: »

which is what I referred to earlier, thanks for helping me confirm it.

Yet UK customers who are misfortunate enough to have Paypal sieze *their* money, don't get any of the inerest that Paypal earns on it.

RFW

Brooker_Dave wrote: »

This would be Paypal the American company who run their operation from America?



Yet UK customers who are misfortunate enough to have Paypal sieze *their* money, don't get any of the inerest that Paypal earns on it.

Ok one more time just in case any of it gets through...

You have in one post contradicted yourself, saying that Paypal is the same here as it is in the US and then saying it isn't.

Paypal in the UK is a different entity to Paypal in the US and governed by UK rules (see my earlier post). Paypal in the UK do not and can not earn interest on held funds, if they did it would be in the public record and visible in their accounts.

Just because you write something on an internet forum often enough doesn't make it true (now where's the hand slapping his own head smiley?).

Brooker_Dave

cyberbob wrote: »

As has been stated this is in the uS where they are legally allowed to. You just have this inability to take that little bit of information in. No where in your quoted article does it state it's in the UK

Allow me to enlighten you, Paypal is an American company, based out of America, which happens to operate in the UK via Luxemborg.

(ie there's a PR office here, but not much else - that's why if you ever contact Paypal everyone you speak to is not from the UK)

From Tamebay:

"Sometime ago we did an estimate of the funds being held, based on public statements from PayPal/eBay. The numbers are PER QUARTER."

“Using numbers from eBay’s SEC (U.S. Securities and Exchange Commission) filing, 23 October 2008 10-Q Quarterly Report Form 10-Q, the following is the worse case (for sellers or best case for eBay/PayPay) calculation of “1%” per quarter.
* Active eBay users affected: 830,000
* Active registered PayPal accounts affected: 548,000
* Net total payment volume, HELD: $115,690,000″"

So Paypal are holding around $115,690,000 per quarter.

Which = lots of interest, or as Paypal themselves describe it "revenue streams".

Brooker_Dave

RFW wrote: »

Just because you write something on an internet forum often enough doesn't make it true.

Paypal themselves admit that they earn interest from held funds.

Why you choose to pretend that they do not is a mystery.

RFW

Brooker_Dave wrote: »

Paypal themselves admit that they earn interest from held funds.

Why you choose to pretend that they do not is a mystery.

IN THE USA, I await the link to Paypal in the UK admitting this.

RFW

Brooker_Dave wrote: »

Allow me to enlighten you, Paypal is an American company, based out of America, which happens to operate in the UK via Luxemborg.

(ie there's a PR office here, but not much else - that's why if you ever contact Paypal everyone you speak to is not from the UK)

From Tamebay:

"Sometime ago we did an estimate of the funds being held, based on public statements from PayPal/eBay. The numbers are PER QUARTER."

“Using numbers from eBay’s SEC (U.S. Securities and Exchange Commission) filing, 23 October 2008 10-Q Quarterly Report Form 10-Q, the following is the worse case (for sellers or best case for eBay/PayPay) calculation of “1%” per quarter.
* Active eBay users affected: 830,000
* Active registered PayPal accounts affected: 548,000
* Net total payment volume, HELD: $115,690,000″"

So Paypal are holding around $115,690,000 per quarter.

Which = lots of interest, or as Paypal themselves describe it "revenue streams".

None of which refers to anything alluded to in this thread, either Paypal earning and keeping themselves interest on funds they do not release for 21 days or Paypal in the UK earning interest. Paypal in Europe is a different entity to Paypal in the US.

Brooker_Dave

RFW wrote: »

IN THE USA, I await the link to Paypal in the UK admitting this.

It's all done from the USA!

Paypal is run from America, all the money ends up there in (AFAIK) a BOA account.

Again, Paypal are *quite clear* and open that they earn interest from the money the hold, and refer to it as a revenue stream.

Brooker_Dave

RFW wrote: »

None of which refers to anything alluded to in this thread, either Paypal earning and keeping themselves interest on funds they do not release for 21 days or Paypal in the UK earning interest. Paypal in Europe is a different entity to Paypal in the US.

Only on paper.

Why do you continue to argue, when even paypal admit that they earn interest from held funds??

soolin

RFW wrote: »

IN THE USA, I await the link to Paypal in the UK admitting this.

Most of us have waited years for Mr Broker to support his argument, that's why no one else is really joining in here. We get this regularly every few months.

Apparently if you keep saying the same thing over and over again and link to sites that say the complete opposite you can win an argument. The fact is that very few regulars actually see these posts as most have him on ignore.

rayal

soolin wrote: »

The problem is that by not using paypal you can't use ebay of course. That means less chance of selling anything at all, but I suppose it does at least mean you don't have to worry about paying postage out of your own pocket anymore.

Of course I can use eBay without using PayPal ............ you obviously missed the 'point' about paying the postage .......