Paypal becomes a bank in Luxembourg *merged*

cazmanian_minx

b14ck wrote: »

i've just received an email from paypal saying that from 2nd of july it aint going to be paypal Europe anymore,its changing to PayPal Luxembourg.
now, i know that Luxembourg isn't really a proper country,.... i'm not sure if it's even in the EU?.... so is this an attempt by ebay and paypal to get around the protective laws that the citizens of the European union enjoy but the USA doesn't?
re: https://www.paypalsucks.com etc?

Ebay moved its European operation there a while back as well - it's to take advantage of the tax laws there. The company I used to work for considered moving one of its subsidiaries there a couple of years ago, but ended up in the Channel Islands instead.

Caz

martindow

b14ck wrote: »

i've just received an email from paypal saying that from 2nd of july it aint going to be paypal Europe anymore,its changing to PayPal Luxembourg.
now, i know that Luxembourg isn't really a proper country,.... i'm not sure if it's even in the EU?.... so is this an attempt by ebay and paypal to get around the protective laws that the citizens of the European union enjoy but the USA doesn't?
re: https://www.paypalsucks.com etc?

I think the people of Luxembourg will be shocked to find out they are not a real country! Luxembourg is one of the six original countries that formed the Common Market in the 1950s;)

peterbaker

As I have said elsewhere I think this is about avoiding UK complaints to the regulator too. I was however wrong about one thing perhaps: PayPal say you will still be able to address disputes through the UK Financial Ombudsman Service if you are unable to resolve them directly with PayPal.

I bet PayPal hope that'll create a log jam between Canary Wharf and Luxembourg so they can get on with their preferred selling methods further down the river relatively uninterrupted until they pick up sticks again just before the next damn bursts! Ehm....sorry about that appalling mixed metaphor....that must rate as one of my really bad ones! Even I can sense the smell of damp wood now and I haven't spilled my tea on the desk either!

soolin

b14ck wrote: »

now, i know that Luxembourg isn't really a proper country,.... i'm not sure if it's even in the EU?.... so is this an attempt by ebay and paypal to get around the protective laws that the citizens of the European union enjoy but the USA doesn't?
re: https://www.paypalsucks.com etc?

Oh dear, Luxembourg not being a real country is going to come as a bit of a shock to all the people who live there and think they exist!

Road_Hog

martindow wrote: »

I think the people of Luxembourg will be shocked to find out they are not a real country! Luxembourg is one of the six original countries that formed the Common Market in the 1950s;)

Well, it is about as low as you can get on the real country scale. It ranks below a Principality, as it is a Grand Duchy.

Neil82_2

Hi

I work at PayPal’s UK pr agency. Just to say that PayPal in the UK will, as you say, be regulated from Luxembourg from July. However it will remain a voluntary member of the UK’s Financial Ombudsman Service so UK PayPal customers will have the choice of recourse there or via the CSSF in Luxembourg if they can’t sort an issue out directly with customer services. Hope that helps.

Neil

vikingaero

Neil82 wrote: »

Hi

I work at PayPal’s UK pr agency. Just to say that PayPal in the UK will, as you say, be regulated from Luxembourg from July. However it will remain a voluntary member of the UK’s Financial Ombudsman Service so UK PayPal customers will have the choice of recourse there or via the CSSF in Luxembourg if they can’t sort an issue out directly with customer services. Hope that helps.

Neil

Thanks for the info Neil.

Now maybe you can explain why PayPal are so loopy, irrational and the scammers friend?

StaffsSW

Neil82 wrote: »

Hi

I work at PayPal’s UK pr agency. Just to say that PayPal in the UK will, as you say, be regulated from Luxembourg from July. However it will remain a voluntary member of the UK’s Financial Ombudsman Service so UK PayPal customers will have the choice of recourse there or via the CSSF in Luxembourg if they can’t sort an issue out directly with customer services. Hope that helps.

Neil

That is a mission for your PR company if ever there was one!!! Can anyone actually believe that they really have a "Customer Service" department?

What is it - an answerphone and email auto-responder?

Neil, if you want to market Paypal as a serious player in the money-market, start at the grass roots and deal with the abysmal service levels that its consumers have to contend with. I personally do not agree with sites like paypalsucks.com, mainly as many tales of woe are elaborated, howevere there are many hundreds of cases of were Paypal customers have been hung out to dry on technicalities and misunderstanding.