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Cody Dawg · Sep 21, 2005, 07:38 AM

So, my Paypal account is in a huge disarray STILL.

I finally decided to write to all the news organizations with details when someone suggested it. It appears that CNN and The Register are now working a story about it (The Register contacted me this morning.)

It's about time that Paypal's issues become known en masse. I'm so sick of it.

Have you seen the discussion BBS at eBay?

Click here then click on "Paypal."

What a disaster.

My question is this: How can they get away with keeping other persons funds this way? When you ask them, "Uh, when are you giving me back MY money," they politely reply, "We're working on it and unfortunately we do not know."

So, here is the scenario: Paypal throws double charges on your account. Now your account is in the negative - sometimes hundreds of dollars. When people then proceed to pay you for an item, you don't get your money because it satisfies the negative in your account first.

Now, Paypal then proceeds to try to credit the account to bring it back up to where it should be...but the system "forgets" that you have also received funds. So, for instance, you are -$300 in the system because of their glitch. The actual funds you show in your account should be at, say, +100. You have funds come in from someone to the tune of +100. and now your account stands at -$200. The system goes in and credits your account up to the amount it should be: +100 and because you are at -$200 (after the person has paid you $100.) it "credits" you +300.00 when it SHOULD have credited you +400.00, see? Because your account, after someone paid you, should really be at +$200.00.

I know it's confusing but that is what is happening and it's a disaster.

Someone at the BBS system there mentioned that it is interesting that this "glitch" occurred just as they bought another company worth billions of dollars.

Paypal.

TETENAL · Sep 21, 2005, 07:43 AM

PayPal acts like a bank while avoiding to be subject of the banking laws. Everybody who thinks why they do this will come to the conclusion not to do business with them. If you do, and agree to all the absurd conditions when you sign up, it's your own fault.

Cody Dawg · Sep 21, 2005, 07:50 AM

My bank said the same thing - only nicely.

turtle777 · Sep 21, 2005, 09:48 AM

LOL, I read "papal fiasco", and wondered if Papa Ratzi already messed up...

-t

wdlove · Sep 21, 2005, 09:57 AM

Originally Posted by Cody Dawg

My bank said the same thing - only nicely.

Hi Cody,

Don't be sad my very good friend. Try to smile. It seems that you are on the correct tract.

Cody Dawg · Sep 21, 2005, 11:18 AM

John Oates posted the story at The Register this morning.

I spoke to him at length - nice chap - and I'm so pleased to see it getting media time, now.

to John Oates and The Register!

Eriamjh · Sep 21, 2005, 02:20 PM

You couldn't continue this in the old thread?

Cody Dawg · Sep 21, 2005, 02:33 PM

No, thanks, though.

What's the name of your African Grey? They are THE coolest birds. Glad you didn't buy him using Paypal, though...you might have paid twice for him.

Mark Larr · Sep 21, 2005, 02:42 PM

Collest after cockatoos.

Mrjinglesusa · Sep 21, 2005, 04:28 PM

Guess I've been lucky so far - never had a problem in over 5 years using them, buying and selling.

Kerrigan · Sep 21, 2005, 04:44 PM

This thread is racist.

rickey939 · Sep 21, 2005, 05:59 PM

I just got paid via PayPal...withdrew it immediately. I'm happy.

Eriamjh · Sep 21, 2005, 08:29 PM

Paypal is evil, that is understood. For most, it works without trouble. They do have crappy policies though. Eventually, someone will sue them and more than likely, banking rules of some kind will apply.

For now, beware.