PayPal (Pay After Delivery)

JuicyJesus

Chrisj000 wrote: »

I wonder if they report to your credit file as affectively its a 14 day interest free loan

No, they don't.

hillcats

I can say with 100% certainty that I will not be providing PayPal with MY 'everyday' current account details - for security reasons !

I much prefer using a credit card to fund PayPal as it's not my money, so when it all goes wrong it can be referred to my credit card provider... but connect my real bank account and the risk becomes all mine - hmmm I don't think so PayPal - I will keep to using my credit card thanks...

Part of T&C's:

..... In order to use PAD, qualifying Users must have a valid bank account on file, which has been added to their PayPal account, and identified as their primary bank account or preferred payment method from which funding transfers may be withdrawn. If a valid bank account hasn't been added as a payment method then PAD will not be available, even if You have used PAD before.

Atidi

wiseshark wrote: »

Not all of us want or need 55 days interest free credit (provided it's paid back in full) and are happy with 14 days that PayPal are offering before a bank account is debited. For me that is perfect as it suits me better than using a CC.

As for cash back on CC, I am and never will be a fan as it is just too tempting to buy things you may not need. I am more interested in the cash back which is relatively new to debit cards.

I appreciate that we all have our own preferences and each to their own.:)

I'm sorry, I don't follow any of this logic.

1. It's up to about 56 days free credit with a credit card. If you are happy to pay your credit card off in 14 days (or any other time frame) you can.
With PAD, you get no choice, paypal will take the money from your bank account after 14 days.
(If you don't have sufficient funds, then I'm sure the bank will charge you handsomely, and I think paypal will try again if they don't get their money. More bank fees if again you don't have suffient funds. Then they'll try your secondary funding source if necessary)

2. How can a credit card be any more tempting to buy things than a paypal account, especially if you are hoping to take advantage of PAD? :huh:
As a moneysaving site, even the possibility of cashback has to be considered favourable especially compared to the option of definitely no cashback.

Atidi

hillcats wrote: »

I can say with 100% certainty that I will not be providing PayPal with MY 'everyday' current account details - for security reasons !

I much prefer using a credit card to fund PayPal as it's not my money, so when it all goes wrong it can be referred to my credit card provider... but connect my real bank account and the risk becomes all mine - hmmm I don't think so PayPal - I will keep to using my credit card thanks...

Part of T&C's:

..... In order to use PAD, qualifying Users must have a valid bank account on file, which has been added to their PayPal account, and identified as their primary bank account or preferred payment method from which funding transfers may be withdrawn. If a valid bank account hasn't been added as a payment method then PAD will not be available, even if You have used PAD before.

I may be wrong, but I'm pretty sure when I signed up for paypal I had to give them my bank account details. Has that changed?

The only reason they can't now use those details is because I allowed their DDI to fall dormant after not having been used for at least 12 months. Once they realised they can't collect from my bank anymore, then they don't bother ... but they still have the bank details I'm sure.

Atidi

Chrisj000 wrote: »

I wonder if they report to your credit file as affectively its a 14 day interest free loan

Big George, our local, friendly landlord at the Fat Ox let me have a couple of pints on tick over the weekend - I promised I'd pay him back next weekend as soon as I get paid.

I didn't think, but perhaps he'll be reporting to my credit file too? :eek:

Paperboy comes and collects the money every 2nd Friday too - don't remember the local newsagents ever appearing on my credit file.

Should I ask our Milkman if he reports to the credit file? I've never really thought about it before.

And what about Ted the gardner??? I only pay him once a month! :eek:

Come to think of it, I only get paid every month too. Is there anyway I could report my employer to the credit file people???

:cool:

Anthorn

Atidi wrote: »

I may be wrong, but I'm pretty sure when I signed up for paypal I had to give them my bank account details. Has that changed?

The only reason they can't now use those details is because I allowed their DDI to fall dormant after not having been used for at least 12 months. Once they realised they can't collect from my bank anymore, then they don't bother ... but they still have the bank details I'm sure.

Initially you need a credit card or a debit card. Paypal block pre-paid cards mainly. A bank account and direct debit is optional but is necessary to get verified status and some ebay sellers require that status. But you still need a credit card or debit card as a backup in case the DD to your bank account fails. That's how it works for me anyway.

martindow

Has anyone experienced this from the seller's side?

Someone buying from me was offered buy now pay later and on her Paypal account the payment apparently shows up waiting to be paid in several days time as you would expect. At my end there is nothing. Is this normal?

This is a regular and entirely trustworthy customer so there is no question of dishonesty. The transaction is on my website where I offer Paypal in the choice of payment methods.

JuicyJesus

martindow wrote: »

Has anyone experienced this from the seller's side?

Someone buying from me was offered buy now pay later and on her Paypal account the payment apparently shows up waiting to be paid in several days time as you would expect. At my end there is nothing. Is this normal?

No. With Pay After Delivery, the seller gets paid as soon as the payment is issued as usual. If you haven't received the money your buyer is trying it on.

mojod

As an aside, one thing that irritates and amuses me at the same time is the amount of grumbles about Paypal trying to make a profit. Sellers, whether it be on Ebay or their own store or whatever often rely on being able to use Paypal to run their businesses. Yes, there are alternatives but Paypal is best known by consumers, easy to set up, and cheaper than a lot of other options especially for small traders who would struggle with a bank. This (minority) handful of sellers who want to make a profit and a living, need the like of eBay & Paypal to use as tools to achieve that and then think it's unfair for Paypal & eBay to take a cut and make a profit!

JuicyJesus

mojod wrote: »

As an aside, one thing that irritates and amuses me at the same time is the amount of grumbles about Paypal trying to make a profit. Sellers, whether it be on Ebay or their own store or whatever often rely on being able to use Paypal to run their businesses. Yes, there are alternatives but Paypal is best known by consumers, easy to set up, and cheaper than a lot of other options especially for small traders who would struggle with a bank. This (minority) handful of sellers who want to make a profit and a living, need the like of eBay & Paypal to use as tools to achieve that and then think it's unfair for Paypal & eBay to take a cut and make a profit!

The same attitude exists with most financial services, not just PayPal.