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Do you like Paypal?
#1
Maybe I've just been a bad apple and have really crappy luck dealing with them... How about you guy's out their who have been using them as payment processors to run your site/business, have you had any issues with them? I've been ripped off twice and have yet to ever consider going back... Maybe they've changed in the past 5 years and are more reliable?.. I really have no idea.

What is your opinion on them?
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#2
Never had any major problems in the 10 years I have used them. Yeah a few bumps but you won't get a bank, credit card, or other fincancial institutions that are better. If you get ripped off you have to remember it's not paypal that's at fault. It's YOU that takes the risk when you buy or sell via the internet. Paypal is a payment processor and nothing more. And they have guarantees if you follow them they stand by them. I have had $500 payments returned to me after I properly gave them the material requested. Just make sure to know their policies and protect yourself.

Don't blame paypal is my opinion.

There are some good growing alternatives though...moneybookers and alertpay both seem to be gaining some ground.
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#3
Ya, I was highly considering alertpay as an alternate option.. as I've been seeing them in a lot of media.

So you understand more of where I am coming from this is what happened... I purchased a gift card from a buyer on ebay... Now, technically, this isn't considered intangible material, as was pointed out in their policy back then, so I wasn't aware of the risk. What had happened was the seller scratched away the code-cover, whatever you call it, and wrote down the numbers. He then went to USPS and placed the item in a tracked envelope with shipping confirmation. Once I found out their was no money on the card I reported it to Paypal, but since this person had the confirmation number it completely blew off the dispute process in his favor. It was about $180 that I had lost, but there was nothing I could do, unless I make a police report, and all that jazz. It really would have been a huge waste of time for a small amount of money.

After that incident followed another, which was my stupidity though. I was selling an online gaming account worth about $200, sold for $160. Guy makes the dispute and automatically is refunded his money, since I was dealing with intangible material. That was icing on the cake.

It's a great system they have, but the loophole with the confirmation number just worries the heck out of me. I don't feel like crossing my fingers when I buy something... Since then I have only purchased strictly from trusted sources like big name companies. Regardless of someone's online star rating reputation you never know when they may want to screw you over. It was quite a surprise to say the least.

I'm glad you've been successful with them. And for 10 years.. That's great. Maybe I'll consider going back with them one of these days. I might try alertpay first though and see how things roll there. May give moneybookers a shot too even.
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#4
Gift card fraud is common. You should have orchestrated the deal better imho. And paypal has a "item not as described" policy I believe you could have used. If you paid with a credit card you could have done a chargeback too.

Selling any virtual item is risky and unless you are in a community where a reputation can be formed and regarded it's normally not worth it. I would have asked for a phone number at least and only sold to a US resident. If things go wrong you call the cops.

Buying and selling from trusted sources is your best option. Unless you are willing to risk the deal falling apart it's not worth it.

Now I just searched and found this:
http://www.paypal.com/cgi-bin/webscr?cmd...pbp-policy

Quote:13.2 What types of problems are covered?

PayPal’s programs help you if you encounter either of these problems:

Item Not Received (INR)

Significantly Not as Described (SNAD) (see definition below)

Had you used that as your reason it's likely you would have been protected. I have used their agreement successfully many times but you must be able to quote their policy and hold them to it.

Now I see they also have requirements the purchase must be made through paypal. So I would suggest for tangible items you ask the seller to quickly place it up with a BIN and you can immediately make the purchase. If they are not willing to make sure the sale is legit and with guarantees then it's not a legit seller. I have let a lot of possibly good deals fall away that the other person wasn't willing to follow my requests.

Sometimes I sell domains to risky buyers and I require a 60 day wait period before I offer to change the whois. I change the DNS for them asap but I will retain the domain in my possession until I am sure they can't chargeback. Good buyers agree since I have an impeccable reputation on a lot of places.

My caution has served me very well.
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#5
Definitely agree with you on all of this. I wasn't nearly as educated as I am now. Had I been I surely would have avoided all of the nonsense I dealt with. But, you live and learn. And when learning the hard way it seems to stick a lot more.

I like the idea of holding domains and letting the user have the dns... Have you tried out leasing domains, or whatever it is... Not sure how that works and how profitable it is but I've heard the term come up recently. I'd assume that's how you'd do it, or can do it.. In relation, I've seen quite a few requests around the boards recently whereas users want to use a parked domain for their website. Doesn't seem as if it could hurt. Maybe even throw one of your ads/sitelinks in their as part of the favor.
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#6
Quote:Have you tried out leasing domains

I haven't really tried it but I don't think I have a good enough set of keyword domains for that.
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#7
Not really, but there isn't a better service.
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#8
only problem i hate about paypal is the fee; but I understand since we are using their services; besides MOST of the times the fees are small but some went over liek 20 bucks before
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#9
I was just about to say that, today I got a payment of £2GBP ($3USD) and they took £0.28 ($0.40USD) of it. Ok it's a really small amount of money that I got paid but they've taken about 15% of it... bah Sad
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