what paypal dont want you to know...

mclaren_2

http://www.paypalsucks.com/forums/showforum.php?fid=6

you should read some of those whistleblower stories - inside paypal, those people who works for them or used to work for them, tell the truth about paypal.

i know i dont like paypal but i am more than shocked at these stories, from thsoe inside! now i know why paypal dont care about the users

kriss_boy

Paypal is brilliant if your a buyer.... it is however a nightmare if your a seller.

JohalaReewi

Paypal is usually brilliant if you are a buyer. However, Paypal won't find in the buyer's favor if it would leave Paypal out of pocket. In the end, Paypal look after themselves.

mcwarre

JohalaReewi wrote:

Paypal is usually brilliant if you are a buyer. However, Paypal won't find in the buyer's favor if it would leave Paypal out of pocket. In the end, Paypal look after themselves.

How true. Paypal, for the buyer, for the seller, but mainly for themselves.

I would like them to come under the Financial Services Agency (albeit they cannot at the moment) as the FSA would close them down for their charlatan practices..........................

mclaren_2

mcwarre wrote:

How true. Paypal, for the buyer, for the seller, but mainly for themselves.

I would like them to come under the Financial Services Agency (albeit they cannot at the moment) as the FSA would close them down for their charlatan practices..........................

very true - they MUST be breaking some laws though

Alfie_E

mcwarre wrote:

I would like them to come under the Financial Services Agency (albeit they cannot at the moment) as the FSA would close them down for their charlatan practices...

PayPal (Europe) Ltd are regulated by the Financial Services Authority. See the bottom of the PayPal UK home page. Unfortunately, it’s only as an “e-money issuer”. Yes, the requirements made on PayPal are very limited compared to, say, a bank. This is supposedly because e-money is a developing concept, and new businesses need to be allowed to grow without being over-regulated. :rolleyes:

mclaren_2

Alfie_E wrote:

PayPal (Europe) Ltd are regulated by the Financial Services Authority. See the bottom of the PayPal UK home page. Unfortunately, it’s only as an “e-money issuer”. Yes, the requirements made on PayPal are very limited compared to, say, a bank. This is supposedly because e-money is a developing concept, and new businesses need to be allowed to grow without being over-regulated. :rolleyes:

which basicly in laymens terms means that paypal are allowed to do waht they want and can basiclyget away with it

soolin

You do realise the site in the original link is merely a rival service to paypal I assume? The service is called 'Cardservice' and doing a Google groups search returns some less than good results from their customers. Also their set charge is slightly higher than paypal.

I find it odd that if cardservice consider themselves such good competition why they have to resort to advertising by rubbishing other payment services

Here is the cardservice website associated with the original link:

http://www.995merchantaccounts.com/

You will see it is a US based service and a quick read doesn't show any evidence that it is regulated for use in the UK, although I don't have time to look through the whole site to confirm that.

So, we have a site pretending to be an anti paypal site which is actually a paypal competitor with charges just like paypal, and on the other hand we have paypal who whilst not perfect at least don't have to try and pretend to be an anrti cardservice site. I know which one i feel comfortable with.

Soo