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Paypal..... Is it really that good ?????

anakinleo

anakinleo

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I have attached an article from today's copy of Financial Review

Personally, I believe Paypal is a just a big marketing gimick. If transacting locally, it has very little real advantage over bank transfer or direct deposit. The worst part about it is that they have a tendency to freeze monies which rightfully belong to their owners. I think this article really highlights that point.

Anyway, I like to throw it out for discussion on this. Cheers Alex
 

Attachments

I just looked up an old thread I started...

Paypal are a ripoff. They make so much money from each and every transaction, and are owned by ebay so it's a massive double-dip. They also hold your money for several weeks if you're a new-ish seller, and charge a foreign currency rate about 4-5c off the actual. It's such a shame but sadly there isn't a lot else you can do/use...
 
If you want to walk/Fly to China/US/Europe to make payments we well go for it but i think for a 8% it's great on international transactions, considering it will cost you 100 times that to fly there to pay them in cash .

I guess Everyone want's things for free .
 
Fees arent so bad...cost me $22aud this week to transfer 165euro to italy with Commbank!....and youre never going to get great exchange rates, in comparison to actual market rates, no matter who you use. So as a service, its pretty good.

Being owned and run by eBay though makes it a farce.
 
hairyangryfella said:
I just looked up an old thread I started...

Paypal are a ripoff. They make so much money from each and every transaction, and are owned by ebay so it's a massive double-dip. They also hold your money for several weeks if you're a new-ish seller, and charge a foreign currency rate about 4-5c off the actual. It's such a shame but sadly there isn't a lot else you can do/use...
Click to expand...

That's what they are doing to me at the moment, really sucks because I sold a few PC cards to fund a "must have" card, I'll not get the money for 3 weeks.
 
Look I am a capitalist and will probably get shot down for my views but anyway here they are:

1.) You do not have to use their services- Using paypal/ebay is a choice. There are other means to obtain cards and transfer money. These are means are not as efficient and you do limit your market but that is why you pay the fees you do.
2.) Paypal/Ebay provide the services- this means they can charge whatever the hell they want. If it becomes too costly a competitor will take market share off them in the long run. It is not your God given right to get a service a company provides at their own expense for free or close to. People can't expect something for nothing. You want to pay a pittance you'll get a crappy service.
3.) Their fees are not over the top- You try and change currency and then transfer money internationally instantly and it cant be done for the same price by other means.
4.) Paypal is owned by Ebay- Ebay is a listed company so their main ambition is to balance between providing a quality service to their customers whilst pleasing their shareholders by providing decent returns.
5.) Paypal is not perfect- Like any service in the world, from ordering a Big Mac from McDonalds or getting your car washed there will be instances where problem occur. It will happen. It is unavoidable. However the % of these problems against how many they get 100% right would be minuscule.

Like I said. I expect to cop a bit for my views but its the way I see it.
 
Heafy83 said:
Look I am a capitalist and will probably get shot down for my views but anyway here they are:

1.) You do not have to use their services- Using paypal/ebay is a choice. There are other means to obtain cards and transfer money. These are means are not as efficient and you do limit your market but that is why you pay the fees you do.
2.) Paypal/Ebay provide the services- this means they can charge whatever the hell they want. If it becomes too costly a competitor will take market share off them in the long run. It is not your God given right to get a service a company provides at their own expense for free or close to. People can't expect something for nothing. You want to pay a pittance you'll get a crappy service.
3.) Their fees are not over the top- You try and change currency and then transfer money internationally instantly and it cant be done for the same price by other means.
4.) Paypal is owned by Ebay- Ebay is a listed company so their main ambition is to balance between providing a quality service to their customers whilst pleasing their shareholders by providing decent returns.
5.) Paypal is not perfect- Like any service in the world, from ordering a Big Mac from McDonalds or getting your car washed there will be instances where problem occur. It will happen. It is unavoidable. However the % of these problems against how many they get 100% right would be minuscule.

Like I said. I expect to cop a bit for my views but its the way I see it.
Click to expand...

Paypal stooge......:rofl: :rofl:
 
Jaames said:
That's what they are doing to me at the moment, really sucks because I sold a few PC cards to fund a "must have" card, I'll not get the money for 3 weeks.
Click to expand...

I'm in the same boat, except I've been fked over by a couple of sooky la la buyers that haven't left me 5 stars for NO GOOD REASON AT ALL.... Lucky I don't really care about the wait as I'd still have the cards sitting at home gathering dust. But it is an absolute joke that it's based on the 5 star rating as well as total transactions in 'x' amount of time. One of the buyers is on this site an d I can not understand for the life of me why I got under 5 stars!!! Sucks that people just don't give a rats ass about anyone but themselves!!

On topic though, it's a necessary evil in our hobby unfortunately. But like others have stated, the fact they are owned by eBay is an utter disgrace and the way the handle claims is a joke too... Not much choice at the moment though really.
 
Heafy83 said:
Look I am a capitalist and will probably get shot down for my views but anyway here they are:

1.) You do not have to use their services- Using paypal/ebay is a choice. There are other means to obtain cards and transfer money. These are means are not as efficient and you do limit your market but that is why you pay the fees you do.
2.) Paypal/Ebay provide the services- this means they can charge whatever the hell they want. If it becomes too costly a competitor will take market share off them in the long run. It is not your God given right to get a service a company provides at their own expense for free or close to. People can't expect something for nothing. You want to pay a pittance you'll get a crappy service.
3.) Their fees are not over the top- You try and change currency and then transfer money internationally instantly and it cant be done for the same price by other means.
4.) Paypal is owned by Ebay- Ebay is a listed company so their main ambition is to balance between providing a quality service to their customers whilst pleasing their shareholders by providing decent returns.
5.) Paypal is not perfect- Like any service in the world, from ordering a Big Mac from McDonalds or getting your car washed there will be instances where problem occur. It will happen. It is unavoidable. However the % of these problems against how many they get 100% right would be minuscule.

Like I said. I expect to cop a bit for my views but its the way I see it.
Click to expand...

Well said mate
 
aussiemjfreak said:
I'm in the same boat, except I've been fked over by a couple of sooky la la buyers that haven't left me 5 stars for NO GOOD REASON AT ALL.... Lucky I don't really care about the wait as I'd still have the cards sitting at home gathering dust. But it is an absolute joke that it's based on the 5 star rating as well as total transactions in 'x' amount of time. One of the buyers is on this site an d I can not understand for the life of me why I got under 5 stars!!! Sucks that people just don't give a rats ass about anyone but themselves!!

On topic though, it's a necessary evil in our hobby unfortunately. But like others have stated, the fact they are owned by eBay is an utter disgrace and the way the handle claims is a joke too... Not much choice at the moment though really.
Click to expand...

Then your beef is with the appropriate American authority not Ebay or Paypal. I'm pretty sure the ACCC would have allowed the takeover here as well but kept rules such as 'paypal cannot be the only payment method via ebay' like it is here now.
 
Heafy83 said:
Then your beef is with the appropriate American authority not Ebay or Paypal. I'm pretty sure the ACCC would have allowed the takeover here as well but kept rules such as 'paypal cannot be the only payment method via ebay' like it is here now.
Click to expand...


Yes and No. So basically, because I accept the fact I use them for a lot of transactions Im not allowed to have any sort of beef or ill feeling over the fact they are part and parcel of the same Business group?

I agree with a lot of what you wrote Heath, and hence why I don't jump on my soap box going off my head about them but continue to use them... But I am allowed and validated to a point, to feel a bit jaded I guess, towards both of them.

Their business practices and the way they load everything in the buyers favor is my issue, but again, I don't lose sleep over it as it is the easiest, quickest and cheapest way to buy from overseas.
 
aussiemjfreak said:
Yes and No. So basically, because I accept the fact I use them for a lot of transactions Im not allowed to have any sort of beef or ill feeling over the fact they are part and parcel of the same Business group?

I agree with a lot of what you wrote Heath, and hence why I don't jump on my soap box going off my head about them but continue to use them... But I am allowed and validated to a point, to feel a bit jaded I guess, towards both of them.

Their business practices and the way they load everything in the buyers favor is my issue, but again, I don't lose sleep over it as it is the easiest, quickest and cheapest way to buy from overseas.
Click to expand...

No you are allowed to have a beef with their service that is fine. Its just you mentioned how they took over Paypal and like it was some criminal act. They made a very sound business decision and the company is better off for it. Not their fault that the US authroities didn't have the forsite to block it or set parametres in place.

You also have to look at it this way. I'm not saying its right but its sensible they side with buyers more often than not. If you want someone to use their product they need buyers. People will always have something to sell but there wont always be a buyer, especially since most of the gear sold on ebay is a luxury or want item and not a need item. So its better to have disgruntled sellers than buyers. Thats from a total business persepective point of view.

However a lot of what you wrote above is also true.
 
Heafy83 said:
Look I am a capitalist and will probably get shot down for my views but anyway here they are:

1.) You do not have to use their services- Using paypal/ebay is a choice. There are other means to obtain cards and transfer money. These are means are not as efficient and you do limit your market but that is why you pay the fees you do.
2.) Paypal/Ebay provide the services- this means they can charge whatever the hell they want. If it becomes too costly a competitor will take market share off them in the long run. It is not your God given right to get a service a company provides at their own expense for free or close to. People can't expect something for nothing. You want to pay a pittance you'll get a crappy service.
3.) Their fees are not over the top- You try and change currency and then transfer money internationally instantly and it cant be done for the same price by other means.
4.) Paypal is owned by Ebay- Ebay is a listed company so their main ambition is to balance between providing a quality service to their customers whilst pleasing their shareholders by providing decent returns.
5.) Paypal is not perfect- Like any service in the world, from ordering a Big Mac from McDonalds or getting your car washed there will be instances where problem occur. It will happen. It is unavoidable. However the % of these problems against how many they get 100% right would be minuscule.

Like I said. I expect to cop a bit for my views but its the way I see it.
Click to expand...

Well said, well written. Completely agree with all of the above.
 
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