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Paypal tips and tricks?

post #1 of 17
11/24/09 at 3:37am
Thread Starter 
Recently finally submitted and got a paypal account. I was resisting for a while because I don't really think they're a good company, they have a complete monopoly, which doesn't seem like it could change any time soon, and the fees are way too high. But it's so convenient. I setup my account with a seperate checking account, to keep their filthy hands off the rest of my funds.

I thought sending a payment as a personal gift meant it was free, but recently discovered it just means that the sender pays the fees instead of the receiver. Or is there a way around this? Anyone have any other tricks or advanced tactics that would benefit my headphone binging and purging experience?
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post #2 of 17
11/24/09 at 5:48pm
well I was with you til I saw your inauguration photos. Then I became ill....
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post #3 of 17
11/24/09 at 6:43pm
AFAIK one way or the other, someone ends up paying the fees.
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post #4 of 17
11/24/09 at 7:11pm
They have recently started blocking instant transfers from bank accounts 'based on statistical methods,' and 'to ensure the integrity of the system.'

Which is code speak for 'we don't like losing 5 days of interest on your transactions.'

The only sure-fire solution is to hold a large balance in your paypal account, which defeats the purpose of instant transfers.

I have never understood why people complained so much about paypal, but only now do I understand the power they hold.
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post #5 of 17
11/25/09 at 3:50am
Thread Starter 
Quote:
Originally Posted by Fido2 View Post
well I was with you til I saw your inauguration photos. Then I became ill....
ignorance.
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post #6 of 17
11/25/09 at 5:26am
I thought sending money as a gift waives fees if transfered from a verified, linked checking account or the paypal account balance? I just sent money that way a couple weeks back without having to pay transfer fees.
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post #7 of 17
11/25/09 at 7:06am
well if you use a linked and verified account here in the UK they dont charge you. if you use a card then you get charged.

do you have direct debits in the US?
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post #8 of 17
11/25/09 at 7:18am
I have a verified direct debit US account linked to my paypal. No charges unless it's from credit, so the same rules apply it seems.
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post #9 of 17
11/25/09 at 9:53am
Quote:
Originally Posted by rhythmdevils View Post
ignorance.
My thoughts exactly... Love ya, mean it!

But on the Paypal tip, I have sent personal money gifts via PP and was never charged anything? Did you use a credit card or debit as has already been mentioned?
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post #10 of 17
11/25/09 at 11:31am
One tip: Check frequently what they've changed. Every other month they seem to change their rules and methods to rape customers of more money. Basically, the cheapest way to use them is balance transfer/eCheck. Personally, I am totally against linking one's bank account, as I've heard horror stories of them taking money out of accounts during disputes (from a seller's account to refund a buyer) WITHOUT authorisation.
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post #11 of 17
11/25/09 at 11:37am
The echeck option even became funny for me recently. Seems that if you have a bank account linked as well as having debit/credit cards for backup source funding, the echeck option is disabled unless you have the money added to your paypal balance first.

It makes me upset that I went out of my way to make everything confirmed or verified and even added backup funding sources only to be screwed over because of it. Its nearly impossible to remove a credit card from your account once added I've found.

Personal transactions are free from my bank account, though they do not send a confirmed address or offer you any protection whatsoever in the case of lost funds.
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post #12 of 17
11/25/09 at 11:58am
I understood that the gift option does not charge any fees. I also understood that if the gift involves a buy/sell transaction, the buyer has no protection thru Paypal should the seller decide to flake out and not send the item. For this reason, I avoid the gift option and any for sale listings that suggest using the gift option by the seller. There seems to be a lot of these popping up lately in the FS forums.

Of course, my understanding of how the gift option works may be flawed...
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post #13 of 17
11/25/09 at 3:19pm
Most members on head-fi are a trustworthy bunch so sending as a "gift" isn't too much worry for me.
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post #14 of 17
11/25/09 at 7:06pm
Quote:
Originally Posted by fenixdown110 View Post
Most members on head-fi are a trustworthy bunch so sending as a "gift" isn't too much worry for me.
I'm sure I probably don't really need to say it, but don't be so sure. Not everyone is as the seem on the internet. Even moderators have been known to go bad, make sure you really trust them first.
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post #15 of 17
11/25/09 at 7:19pm
Well, I'd have to have a really good look at their feedback here, ebay, and elsewhere. Obviously I'm more likely to trust a long time high post member than a newbie. I guess I fall into that category though.
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