Paypal pay after delivery

kurgon

Just had an email about this service. Is it new? Not sure of the pitfalls, but does seem like a good idea.

T & C

1. This Pay After Delivery (PAD) Facility Agreement is a contract between You and PayPal (Europe) S.à r.l. et Cie, S.C.A., which supplements the PayPal User Agreement and specifically governs your use of the PAD facility. You agree that any use by You of the PAD facility shall constitute your acceptance of this PAD Facility Agreement. We recommend You save or print a copy of this Agreement for your records.
2. Capitalised terms not otherwise defined in this PAD Facility Agreement shall have the meaning set forth in the PayPal User Agreement.
3. The PAD Facility allows You to fund your PayPal Account without having to pre-fund it.
4. When using the PAD Facility, PayPal will not charge You any fees or interest and the total amount outstanding will be repaid by You within 14 days of the date of the transaction.
5. You can use the PAD payment option for purchases up to £12,500 and above. Once you have made purchases totalling £12,500 or above, You will be asked to confirm some information about your identity. In order to be able to keep using the PAD facility, You will be required to complete the information we ask for.
6. You can change your checkout settings or unsubscribe from the PAD Facility at any time on your PayPal Profile page.
7. PayPal will determine in its sole discretion whether You are eligible for the PAD Facility. Eligibility criteria include but are not limited to transaction activity and a valid payment method. Only eligible PayPal account holders will be able to sign up to the PAD Facility. Your PAD Facility is only for consumer use and it is not intended to be for business or commercial use.
8. Your PAD Facility transactions will appear in the Transaction History of your Account Overview, separate from your PayPal account transactions, until PayPal has settled your PAD Facility.
9. The Pay After Delivery (PAD) payment option or PAD facility allows qualifying Users to purchase eligible items and wait up to 14 days to pay for them. The PAD payment option is only available for eligible purchases made under the existing PayPal User Agreement and is not available to all Users. 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.
10. Where You and the item purchased are eligible for PAD, which shall be determined in PayPal's sole discretion, you may choose the PAD payment option at the time of purchase. Although PayPal will not impose a fee for your use of PAD, it is possible a third party, such as the financial institution holding the primary bank account, may impose a fee in connection with the payment or purchase, in addition to the amount of the transaction.
11. If You select PAD as the payment method, the entire transaction amount will be funded from the primary bank account linked to your PayPal account, even if You have a balance in this PayPal account, except where there are insufficient available funds in the primary bank account. You authorise PayPal to submit an instruction to debit from your primary bank account the amount of the transaction, and to re-submit this instruction if the initial debit is rejected or if insufficient funds are available.
12. The hierarchy of payment methods as defined in the PayPal User Agreement will apply in the event that your preferred payment method is declined. For each payment using PAD, You authorise PayPal to debit the primary bank account for the full payment amount 14 days after the transaction date, or sooner in accordance with your instructions. PayPal will send you by email a reminder before the scheduled amount is debited.
13. Where You have qualified for and initiated a PAD transaction, PAD will be identified as your preferred payment method for future eligible transactions. However, You may change your preferred payment method at any time for future transactions. You will still need to select the PAD payment option for each qualifying payment at the time of the transaction. You may select a different payment method for future transactions and change your payment method at the time You make the payment.
14. PayPal Buyer Protection rights described in Section 13 of the User Agreement will apply to a purchase using a PAD payment option. If You have a problem with a purchase you must follow the procedures described in Section 13 of the PayPal User Agreement and file a dispute within 45 days from the date You made the purchase. If You file a dispute with PayPal within 14 days of making the purchase with PAD, PayPal will only debit the primary bank account once the resolution process has been completed and if we find in the seller's favour. You authorise PayPal to debit your primary bank account for the full payment amount if we find in the seller's favour.
15. PayPal has the right, at any time and in its sole discretion, to terminate, cancel, suspend or modify the PAD payment option, qualifications or eligibility for PAD, or your ability to use PAD.

emmy05

i was just reading that, and thought id search for it on here for anything regarding it lol

FreddieM

I had it imposed upon me from Paypal with no reason why. It took an age to reverse this. I don't believe this is a good idea as so much can go wrong. If you buy an item you pay for it simples. The only gainer here is Paypal in my opinion.

RFW

FreddieM wrote: »

I had it imposed upon me from Paypal with no reason why. It took an age to reverse this. I don't believe this is a good idea as so much can go wrong. If you buy an item you pay for it simples. The only gainer here is Paypal in my opinion.

No, this is for buyers. Buy an item and wait 14 days to pay. It's a sort of credit. Presumably Paypal are guaranteeing the payments to the seller, or perhaps it's just for the big guns.

apricotcrush

I've had this for some time when I buy anything off eBay. Paypal pay the seller and then claim the money from your bank account in 14 days. I have used it on occasion and it has worked well.

I have the option to change it to "Paypal balance", which I usually prefer as I like to know I've paid for what I've bought and not have a surprise in 14 days time.

Yorkie_Pud

I would imagine that a few people will use it as a payday loan.

sharpy2010

Yorkie_Pud wrote: »

I would imagine that a few people will use it as a payday loan.

Sounds exactly like that to me too.

sharnad

Bad idea I like to know I've paid straight away

This_Year

It's been around for a little while now.

Roxy07

How do you change to this method on Ebay? I'm still on the method when you pay straight away.. how do I change it to this?

marking_bad

Oh what fresh hell is this?

Ebay turning into a catalogue now? Expect returns to go through the roof...