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[OM] Re: PayPal Question

Subject: [OM] Re: PayPal Question
From: Doug Smith <dhsmith@xxxxxxxxxxxxxx>
Date: Mon, 16 Apr 2007 14:36:37 -0400
On Mon April 16 2007 4:03 pm, Daniel Sepke wrote:

> As a buyer I frequently fund my transactions by credit card rather than the
> default of bank account transfer as the options for recovery are greater
> with CC funded payments. 
snip

> I have only had to threaten a chargeback once in 8 years of 
> buying and selling with Paypal. Just the notice that I was willing to go
> that far if necessary prompted the seller to accept the return for gross
> misrepresentation an provide a refund.
>
> Chuck, I am sure you didn't expect this much waffling but I felt it might
> help to better understand some of the reasons behind why sellers and Paypal
> have these requirements. The bottom line is that despite the stories fraud
> within Paypal is not common and the best protection is to avoid the
> phishing emails that are probably the greater risk to your identity in
> relation to eBay & Paypal.
>
> Dan S.

I agree with Dan here as to both conclusions and the reasons behind them. 
I have my bank account verified through paypal and have never had a problem. 

The only problems or potential problems I've ever encountered have been with 
what I'm going to call local vendors, that is a business that has a physical 
location I've been in.  I've made the chargeback threat exactly once in my 
life to a local business for totally incomplete service work. It gets their 
undivided attention in a hurry, because I believe they can lose their 
merchant account if they have to many complaints and problems. 

When I started using online buying and such about ten years ago I really 
mulled this question over. About this time I read a comment in a local column 
that kind of summed it up for me. The part I remember is that if you hand 
your CC or bank card to the waiter at the local eatery there is nothing to 
stop him from skipping out to the phone in back and ordering two ski jackets 
with it.  

The scarriest event that I ever had happen was having a brand new box of 
checks stolen out of my car.

I'd stopped at the PO to get my mail which included a new box of checks. I had 
to make other stops so I left my mail and a couple of purchases on my back 
seat covered up with a coat. as the car I was driving at the time was a POS 
and the trunk leaked. I come out and the purchases, mail coat and checks were 
gone. 

At the time I had a checking and savings account that I could transfer money 
between through an automated phone call. I moved almost all my money to my 
savings account, immediately when to the closes branch of my bank and they 
helped me close that account and open another and helped me get ahold of my 
employer to move my direct deposit over to the new account and my insurance 
company's direct debits over also. The strange thing was that I discovered 
something that I had never seen or thought of before. At the bank we were 
going over recent debits to see if I still had a legitimate outstanding check 
or other suspect charges. The bank person asks me about a debit from the 
local gas station of $40. It turns out that the cashier had charged my gas 
and someone else's gas onto my bank card. I saw my 20 dollar charge and never 
wired to the fact that the $20 below was another charge and not a total. I 
got my money back from the station, but never new if it was just an accident 
or was it an attempted theft by the cashier. By the look on the face of the 
manager I suspect the latter.

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