67375Re: PayPal demand for access to banking information
- Jul 3, 2011Well I use Paypal for collection agency for the sales of my n-scale stuff. It is cheaper than a money order.You can ship by mail with either USPS or Canada Post at a reduced rate and tracking is there for the customer and proof of shipping. Since I am in Canada there is always the issue of exchange no matter whether I use a bank or paypal. The cost of an NSF check in our banking system makes it a poor choice. One bad cheque costs me $20.00 before I have even collected any money.You may have your goods but that 20.00 bucks is a big dent in your sales and you seldom get to collect back on it. So I have a bank account I use for Paypal and they dump money into it and I remove it and if I want to pay for something from someone I put money into it so they don't have control of much and it is not any different from pre authorized debits at your bank for e your mortgage or utility bills and such. SO you have to manage your exposure in any financial tranaction and the banks are not any friendlier than paypal.Then there are credit card charges on un paid balances. I wish people knew hoe much they are paying for stuff on credit card interest instead of a line of credit at their bank. enough I'll get off the soap box
--- In firstname.lastname@example.org, "David Mummery " <d_mummery@...> wrote:
> Mark H,
> Boy did you open a can of worms!
> I'm retired from the financial sector and one of the resounding complaints is how the hell does EBay/PayPal get away with this.
> The only answer is that they have every regulator in there pocket.
> No one complains because its a dollar here a quarter there and so on and so forth. What everyone fails to realize is all that chump change adds up to BILLIONS of dollar; just read Ebay's year end or quarterly reports and see how PayPal is there 'Golden Goose'.
> This along with not having any other option for clean money transfers and other stuff are the reasons I avoid them at all costs.
> That's more then two cents worth so enough from me.
> Dave M
> Sent from my BlackBerry® wireless device from U.S. Cellular
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