User 269960

Paypal Holds Sellers' Funds Hostage

And while you're contacting banking authorities about PayPal, here's something else that needs looking into....how legal is Ebays policy that REQUIRES payments to be made ONLY thru PayPal (owned by Ebay) or merchant credit cards or ProPay (another costly credit card payment company)?? Since when is it ok that Ebay can tell sellers what 3 credit card payment only options they have to accept?????!!!!!!! It didn't fly in Australia and it shouldn't be acceptable here either and probably wouldn't be if someone challenged it. Any legal people out there who can look into this????


On Jan 18 04:06 PM SukrPunch17 wrote:

> ATTENTION: PAYPAL IS NOT A BANK!
> Before you read any further, you must completely understand that
> fact! I sympathize completely with all of you sellers who have been
> robbed by dishonest buyers who've taken your merchandise and then
> also taken back their payment for it...and all of you buyers who've
> had your personal financial information taken by dishonest sellers.
> All of these illegal acts have been enabled and facilitated by Paypal
> and eBay.
>
> Paypal holds your money for days and weeks - yet it doesn't pay you
> interest. A bank must pay interest by law, as regulated by the Federal
> banking authorities. Paypal can take money out of your personal checking/banking
> account. Banks can only do this with a Court order. WHEN 'THREATENED'
> IN THE UK, AS WELL AS IN AUSTRALIA, TO BE REGULATED UNDER THOSE COUNTRIES'
> BANKING LAWS, PAYPAL TURNED TAIL AND RAN, REGISTERING THEIR 'SERVICE'
> IN LUXEMBOURG.
>
> You may post messages on these great and informative blogs, a public
> service in themselves. This is all well and good and serves to help
> one somewhat feel better over your losses at the hands of the Paypal
> and eBay thieves. But afterwards, and it only takes a few minutes,
> write your congressman, or write the banking authorities. Regardless
> of your party affiliation - we're all Americans and we need this
> to be done for all of our good, you can write Senator Charles Schumer
> from New York State (he's already received more than a few) or write
> Representative Barney Frank of Massachusetts. New York Attorney General,
> Andrew Cuomo, is attuned to help consumers and definitely would like
> the chance to expose the deceptive practices of both Paypal and Ebay.
> Write and ask why is it that Paypal can operate as a bank without
> being regulated as a banking institution. Just yesterday, Senator
> Christopher Dodd of Connecticut, gave a news conference on how banks/financial
> institutions should be "looked into" as to the consumers' rights
> not be violated. he also would be an excellent choice to write to
> and inform him of your struggles with Paypal - more so, how Paypal
> can operate handling large sums of money and NOT pay interest. It
> is wrong! You can always write the SEC, the FDIC and the federal
> banking authorities and ask them to look into it. Demand that Paypal
> be regulated by United States banking laws. All of this thievery
> perpetrated by this now-bogus service will then all be held accountable.
> It's simple and would immediately cause a beneficial change. Just
> write that note. It only takes a minute and will accomplish so much!
> Remember: PAYPAL IS NOT A BANK - UNDERSTAND THAT FACT - it must be
> corrected!
>
> It is laughable how Paypal moved quickly in reference to this eCheck
> scam business. Big deal - THEY STILL HAVE NO RIGHT TO GO INTO YOUR
> BANK ACCOUNT, HOLD MONEY WITHOUT PAYING YOU INTEREST, AND GO UNREGULATED
> BY US BANKING LAWS. THEY DO NOT GUARANTEE THE SAFETY OF YOUR MONEY
> THAT THEY HOLD. IF THERE IS ANY SORT OF LEGAL ACTION AGAINST PAYPAL
> AND THEIR ACCOUNTS ARE TIED UP, THERE WOULD BE NO RECOURSE FOR YOU,
> THE BUYERS/SELLERS, TO GET YOUR MONEY BACK. Ask PAYPAL: "Is my money
> insured and safe AND by what guarantee?" They could not give you
> an honest answer! Imagine that!!!! I'm sorry to shout - but it is
> a terrible thing how the scam artists of EBAY and PAYPAL are allowed
> to illegally run roughshod over us Americans and steal our money...be
> it five cents or thousands of times that.
> .

The Skype's the Limit

Bob C, Why argue or try to convince Ebay+++ of anything.. This person is living on fantasy island on another planet and doesn't have a clue about what's going on in the real world of ebay. Don't waste your time..!!!!

The Skype's the Limit

Re Ebay+++'s comment: Well 3 hurrahs for you. So you bought a laptop on Ebay and think Ebay is the best thing since hot chocolate with marshmallows. Try making a living selling there as so many people were doing..and now have left because they no longer can sell much of anything or make any profit due to Ebay's newest CEO loser Donahoe who implemented changes directed at sellers which guaranteed them to fail. Whoever hired him is to blame here. Is Ebay waiting for the company to completely self-destruct before they figure out maybe they should get rid of him..???? The upper level management doesn't appear to be too bright either..!!

Oh well, it's too late now anyway. I was a 10+ year Ebayer, had fun buying and selling on Ebay over the years, then this loser came on board and started making all of these hideously insane changes. I bought ebay stock when it first went on the stock exchange, sold some at a profit, bought and sold more over the years. I saw where Ebay was headed months ago and sold my remaining shares when I still had a profit. Best decision I made this year.

As for Ebay.. I'll be happy to see its continued and fatal demise.

eBay Q3: What it Means for Sellers

Are these analysts on psychodelic drugs?? How much clearer can it be?? Ebay is finished and will never be able to redeem itself. It's too late. Its CEO Donahoe belongs in the unemployment lines or in a psych ward as a committed patient. If he ever gets another job, the company who hires him deserves him and its downfall since he is quite adept at ruining a once successful giant of a company. But then who hired him? Ebay execs have to take the responsibility for this. So good going, Ebay. You deserve what you got..!!

As for the PayPal (OWNED by Ebay) and merchant credit card only payments requirement going into effect on 10/20, is there an attorney out there who can verify that this is legal?? It didn't fly in Australia being rejected as unfair practice. What makes it fair or legal here in the U.S.?? I had read on an announcement a while back that Ebay was going to abandon the PayPal and credit card payment only requirement but instead REQUIRE that PayPal MUST be offered as a payment choice (also unfair practice). Now Ebay has decided after all to try to get away with this scam (in my opinion) here in the U.S..

Oh, I'm a 10+ year Ebayer who now only occasionally sells or buys a few items now and then. But I'm looking forward to Ebay's continued and fatal demise.

eBay: Bottom Is a Few Months Away

Bob C. and Chaug: I couldn't have said it better. Plus I'll add, I sold months ago at a profit before the stock took a dump into the plague-infested dumpster. I bought stock way back when it first went on the stock exchange. I sold some at a profit thru the years and bought more. When I saw where Ebay was headed months ago, I sold the remaining shares I had at a profit just in the nick of time....the only "good" thing that's come from Ebay this year.

BTW, I was a 10+ year seller who helped make Ebay the great auction site it USED to be. Now it's a mountain of B.S. I don't foresee it ever becoming viable again. They have flipped the finger to us all and we will not forgive and forget. I hope the ship sinks with all the management freaks onboard.

eBay: A glimmer of Hope for Feedback

I forgot to mention that the "high end" doll I mentioned above was a $250 or best offer price. For that they'd take nearly $20 as a final value fee..!!!!

eBay: A glimmer of Hope for Feedback

Ebay has become a cesspool. They obviously do NOT want our business when they are doing everything possible to drive us away.. at least those of us who do not measure up to what they want using their site. Well good for you Ebay.. you've succeeded..!!

I saw what was coming months ago and sold my Ebay stock at a profit (the only positive thing I've gotten out of this) and now their share price is down in the sewer. Hah.. I hope it goes down to nothing and is not that far from it. Oh, I am a 10+ year seller with excellent ratings and feedback and now only list an occasional few items til I get rid of them. Oh, and I NEVER leave feedback anymore for anyone.

As for the PayPal and credit card only payments requirement due to become effective this month.. how can this be legal?? They tried it in Australia and had to rescind it because the commissioner blasted it as being unfair practice. Isn't it unfair practice here too?? I read on the announcement board about a month ago that since it didn't fare well in Australia, Ebay was not going to implement it here in the U.S. but WOULD require that PayPal had to be offered as a payment option (still unfair as they are still basically forcing payment thru their payment monopoly down our throats) regardless of whether the seller wants to offer it or not. Now they've apparently decided after all to see how far they can get away with requiring PayPal and credit card only payments here in the U.S. What a load of B.S. Ebay has become.

One final mention. The new fixed price listing bonanza that is supposed to be the latest and greatest for all of you sellers....I was going to list one high end doll as a fixed price listing. When I came to the end of the listing, the final value fee they were going to take if it sold was almost $20.. compared to the auction style listing final value fee of about $8. The final value fees do not include listing or PayPal fees. Some bargain..!!!!!

eBay: A glimmer of Hope for Feedback

Why is it all about evil retaliatory sellers???? What about evil buyers?? The suggestion for mutual feedback removal to be returned is no solution. The buyer can still choose whether the seller keeps the negative or not. Ebay will never prosper until sellers get equal protection and rules s as buyers.

3 Theories on Why Fewer eBay Listings Are Showing Up on Google

According to Ebay (& the fake Donahoes on this site), everything is just rosy peachy, sales are up, sellers are happy, customer satisfaction is up.
Here's more good news for Ebay:

"Ebay Down Further as Morgan Stanley Downgrades"
by: Eric Savitz posted on: October 02, 2008 | about stocks: EBAY - "There’s new selling pressure on eBay (EBAY) Thursday morning, after Morgan Stanley’s David Joseph cut his rating on the stock to Equal Weight from Overweight."

“Seller checks and proprietary data indicate that trends deteriorated more than expected in Q3 amid eBay’s ongoing transition in its core marketplace, greater economic sensitivity and poor demand,” he writes in a research note Thursday. Joseph writes that he now expects greater deceleration in global gross merchandise volume in Q3 than previously expected, with a possible year-over-year decline in the U.S. And he also cautions that eBay faces a “challenging holiday season.”

"Joseph also notes that the company’s current issues are likely to linger: he cut estimates not only for Q3 and Q4, but also for 2009." "We have less conviction in eBay’s strategy to transform its core marketplace from an auction-based ‘thrift’ to a transaction-oriented platform that better addresses fixed-price in-season retail,” he writes. "Jospeh says he had been thinking that the end of the company’s 3-plus year turnaround would come soon, but that “recent trends are telling us otherwise.”

3 Theories on Why Fewer eBay Listings Are Showing Up on Google

Nadine: True, bankruptcy may not be around the corner but Ebay has a lot of expenses buying up different sectors which cost in the millions each plus fighting lawsuits, and when they lose enough customers, the revenue will not be sufficient to balance out the expenses eventually.. especially when the company is on a downward spiral.

This ass Donahoe who is posting comments here about how high customer satisfaction is, that stock prices are up, and that " Let's not get ahead of ourselfs here! As you can clearly see eBay confidence is at a all time high, and sellers & buyers are delighted with the new policy changes that have been recently implemented....The policy changes are prooven positive growth for the eBay community..Open your eye's and stop be sore tails" is obviously no CEO and is amusing himself with his B.S. First, get a life and go back to school to learn English, grammar, and how to spell. I see 5 errors in your 4 sentences. Sore tails???? What a jerk..!!!!

3 Theories on Why Fewer eBay Listings Are Showing Up on Google

Joe Lin & Nadine: Joe, you are on another planet and Nadine, you get what's going on. Ebay is completely and foremost at fault for everything going down and they did it all by themselves with the promotion of the brain-dead Donahoe. Even if he didn't write the earlier posts above, he is in charge of making the decisions to implement all of the assinine changes that are forcing us to leave Ebay. It's like he's doing everything he can to rid Ebay of users. Is that it??.. Is Ebay trying to get rid of all of the small-item/small business sellers and buyers?? If so, Ebay is cutting off its nose because the big business users have left too.

I'm hoping and wishing that Ebay goes bankrupt sooner rather than later so we don't have to hear any more of its "everything is great" crap which we all know is a " big load"..!!

3 Theories on Why Fewer eBay Listings Are Showing Up on Google

Donahoe is an idiot and eBay execs are bigger idiots for hiring and promoting him. All the B.S. that eBay sales are up 20% and buyer satisfaction is at an all time high is a blatant lie and an insult to our intelligence. Who is he trying to B.S?? We all know that stock share price is at an all-time low and members are doing nothing but complaining and leaving eBay over all of his negative changes..myself included other than a few occasional listings. Now he is banning Money Order payments as a seller's choice and requiring PayPal and credit card payments only? Is this legal to ban other payment options when PayPal is owned by eBay and is the required payment method???? They tried this in Australia and it didn't fly because the Commissioner called it an unfair practice. Then I read that eBay was not going to require PayPal/credit card only payments here in the U.S. but would require PayPal to be offered as a payment option.. still unfair and biased toward their own PayPal monopoly..!! But now currently they've apparently decided to try and get away with requiring PayPal/credit card only payments after all here in the U.S.

All of the negative changes implemented this year have become a pain in the ass and very unfair to users. I hope eBay continues going down the sewer and Donahoe along with it.. the sooner the better. I was a 10 year eBay user and I helped make eBay the enjoyable, profitable auction site it had become. Fortunately I saw what was coming and sold my eBay stock months ago at a profit before it hit an all-time low. Now it is a sham and it is disgusting to watch them drive away all the members who put money in their pockets for so many years. They are just greed-mongers in my opinion and don't deserve our business or our money.