Paypal rip off

pfholmesy

I have just been sent £3,175.00 by a friend from her paypal account to mine. After i accepted the payment Paypal kindley deducted £108.23 for their trouble. Is this a rip off or what. I contacted Paypal and they said they charged 3.4% plus a small fee to do this. Do you think i might be able to get any of this back i believe they are not based in the UK.

treasureirealnds

Yes they are a rip off, but they do make it clear what their fees are. They are not really a charge but a fee.
Could you refund the payment to your friend? That way the fees would be refunded and then maybe she could just send it direct to her bank for free, then do a bank transfer to your bank. No fees that way.

HTH

dzug

Um no it's not a rip-off. It's Paypal applying their standard fees to a transaction. I can't see any possible reason for you to be able to get any of it back.

How do you think they cover their operating costs? By charging sellers (which is what you are if you receive a payment) a fee on a published scale.

Millionaire

dzug wrote: »

Um no it's not a rip-off. It's Paypal applying their standard fees to a transaction. I can't see any possible reason for you to be able to get any of it back.

How do you think they cover their operating costs? By charging sellers (which is what you are if you receive a payment) a fee on a published scale.

Actually you can refund the payment back to the sender. Thus fee's are returned.

techspec

ts_aly2000 wrote: »

Christ!! I wouldn't even trust PayPal with £100, let alone £3000. Refund it immiediately before your account gets a fraud marker and they freeze the account for 180-days. Really!! Refund it the moment you mention this.

They did that to me four years ago, with a few thousand in the account.

They only 'unfroze' the account, after i set off to their head office, and told them i was bringing the press with me.

Paypal accounts should be emptied regularly. In fact, in the unlikely event they went bankrupt, you are only covered for up to £1000 by the FSA. That may not even be the case anymore, as they have recently moved their operations.

But its their habit of freezing accounts, with large amounts of money in, that causes most problems.

See www.paypalwarning.com & www.paypalsucks.com

If you refund the amount, as others have stated, the fees are also refunded. But you will then have to be paid another way

If you decide to keep it, then the fees are stated on the site, and are for a service, so you have no right to claim them back. But hit that 'withdrawl' button ASAP.

Alfie_E

techspec wrote: »

Paypal accounts should be emptied regularly. In fact, in the unlikely event they went bankrupt, you are only covered for up to £1000 by the FSA. That may not even be the case anymore, as they have recently moved their operations.

This was never the case. There is no cover of any sort for “e-money”. The only FSA requirement is that a company must get consent from a customer that he or she understands that the Financial Services Compensation Scheme does not cover e-money, before that customer’s balance may go beyond £1000.

techspec

I stand corrected. I received an email from paypal themselves, advising me to reduce my balance to below £1000, due to the Financial Services Compensation Scheme. I thought they were warning me because the money above this limit was not covered.

On further reading, it appears all money in paypal is at risk, should they go insolvent (see below).

But as they are owned by Ebay, that is probably unlikely.

But for the other reasons stated, you should still keep your paypal balance to a minimum.



</IMG> What is a Balance Limit Warning?<LABEL> </LABEL>

</IMG> If you have a Personal or Premier account and live in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden or the United Kingdom, you will have a Balance Limit.


A Balance Limit is the total amount of funds or pending funds you can maintain in your account until you accept a warning regarding the amount of funds.

Once you get near or reach your limit, you will be asked to accept the following warning:

Your account balance with this transaction amount is over £1,000.00 GBP. PayPal is required by law to inform you that the UK Financial Services Compensation Scheme does not apply to claims for e-money issued by PayPal.

In the unlikely event that PayPal becomes insolvent, your e-money balance may become unusable. By clicking on the tickbox below you acknowledge that you understand this warning and accept that your balance, at any time, may exceed £1,000.00 GBP. If you choose not to accept the warning, you cannot add funds that will exceed your account balance limit of £1,000.00 GBP.

By accepting this warning, all pending and future payments will be automatically accepted.

For countries using a currency other than Pounds Sterling, the balance limit is 14,000.00 SEK, 11,000.00 DKK or €1,400.00 EUR.<SCRIPT type=text/javascript>var solutionBaseUrl = '/helpcenter/main.jsp;jsessionid=G9vHG2VCr7yJsF7s2LXGlxLPSs22cM5MjTb0QpftM1txjxWZWMmv!-1303550023?t=solutionTab&ft=searchTab&ps=solutionPanels&locale=en_GB&_dyncharset=UTF-8&cmd=_help&serverInstance=8002&solutionId=';var transactionFragments = document.getElementsByName("transactionFragmentForm");var solutionLinks = document.getElementsByName("solutionLink");atgss_loadFragments(transactionFragments);atgss_modifySolutionLinks(solutionLinks);</SCRIPT>

bankkiller

paypal is a scam
they closed my account for no reason
!!!!!!!s