There Are 18 Responses So Far. »

1. 

   Comment by johnbaem on 5 February 2008:

   yup and thats really suck! i can afford to give them my hard earn pennies without proper agreement telling me to do so.. the fees that they cut from any trades that we did i think is enough to cover their whole process.. remember, they are one of the establish money processor.. they should come out with something~
2. 

   Comment by johnbonito on 5 February 2008:

   i do agreed that Paypal does not insured with FDIC but do any payment processors with FDIC that can work as well as Paypal? Mostly in the way we intgrated the payment system to our cart?
3. 

   Comment by Tfusion on 5 February 2008:

   Yes, thats true i’ve heard it from a lot of people, it happened to my friend too.
   Very good for other to know.
4. 

   Comment by saggygenius on 5 February 2008:

   well its commendable that, the payal customer care people are looking into it,
   BTW is applicable for other paypal account’s like personal account.
5. 

   Comment by richa on 6 February 2008:

   really sad one news for paypal shareholders…the company with so much online and offline reputation does something unprofessional like this.
6. 

   Comment by Ricks66gs on 6 February 2008:

   I contacted paypal on 2/1 to notify them the day it started and here we are almost a week later, no change, no notice, nothing. They reluctanly admitted to it and “put it on my account”. I had a considerable amount of money but after waiting a week and this so called financial institution operating in disregard for its shareholders I’ve pulled my money out of the account. They are going to be sued for this one, the amount of money due that is delayed on top of the money that’s being accrued late is all going to add up. I’ve had 5000+ transactions on paypal and I have to say that I think it’s time to consider other payment processing companies since they must think that they can be this poor w/ returning calls, responding to e-mails and not paying their dividends as per the agreement set forth in the policy.
7. 

   Comment by gordon on 7 February 2008:

   This is funny, I never would use paypal to store my money there. It is just a payment processor. I get the money through paypal which directly goes to bank. I don’t keep money in paypal.
8. 

   Comment by Jeremy on 7 February 2008:

   I too was shafted completely by Paypal this month. I didn’t recieve any dividend at all. I emailed their customer service with no response yet. If they have some kind of system problem, then they need to send an email to all customers explaining it. The most likely story, is that they are short the funds because of poor performance in their fund. I work for a pretty big business news service and will definately have some people look into this. Could be big news about paypal’s financial situation. A quick look at Ebay’s stock price (parent co of Paypal) shows a drop from $40 in October to around $27 currently. Also, there is a seller strike going on because of enraged Ebay customers about their new selling policies.
9. 

   Comment by gsim on 11 February 2008:

   Yeah, happened to my friend once also, very sad, a tragedy for the online merchant community. Death to it all..
10. 

    Comment by cairo on 11 February 2008:

    well that’s really bad on paypal’s part.. duping people upfront is not right for a company of its stature..
11. 

    Comment by cornelldude on 12 February 2008:

    Why would you put your money in the paypal fund anyway? There are far better money funds out there, with returns as high as 12%!
12. 

    Comment by newyork on 12 February 2008:

    I too got shafted out of a couple of cents, but I don’t really mind, it’s only a few cents, and I’ve never paid any money for the services paypal provides me with.
13. 

    Comment by USA on 12 February 2008:

    I think it’s strange that so many people are willing to take risks through paypal, not exactly your perfect broker for such things.
14. 

    Comment by James on 12 February 2008:

    Thank god, i was thinking to invest my money in paypal’s money market account but will now think about it twice before starting in the future. But i also feel that paypal has to do lot of work to improve a lot. Now i will switch to traditional mutual funds or stock markets instead of paypal money market, which is a risk i guess.
15. 

    Comment by merlin on 12 February 2008:

    I would say that if PayPal wants get more customers confidence in them then they should get FDIC insured as this is something Americans would surely like to look for before they deposit some huge amount in PayPal .
16. 

    Comment by MyRedz on 12 February 2008:

    well bad move by paypal there and i was baffled too by this.well does it suggest the downfall of paypal?i hope so
17. 

    Comment by ruuder on 12 February 2008:

    Poor customer service.. I too have to say that I think it’s time to consider other payment processing companies .The agreement set forth in the policy is completely in shambles now and customer confidence in paypal has been highly hit.Now is the downfall of paypal
18. 

    Comment by chiz on 21 February 2008:

    Good post. You make some great points that most people do not fully understand.

    “Remember people, unlike banks, the Paypal Money Market is not FDIC insured. I would recommend sticking with someone who is FDIC insured. I guess a few bucks here and there really add up for Paypal….way to go with the consumer trust!”

    I like how you explained that. Very helpful. Thanks.

Post a Response