Power Sellers Unite

cohibastore.com · Joined: 14 Sep 2006 Posts: 4908

Just completed my survey and its very clear that PP accounts are either getting updated in the next year or PayPal is going to buy or become a real bank.

The main gist of the survey was to determine which of the new types of accounts would entice me to keep more money in PP. This was the question was asked again and again after each sample of the new accounts - "Which statement best describes how likely you would be to maintain a higher balance with PayPal if this offer or offers were available? "

And they are considering a new option to hold payments back from the seller - "Option to hold off payments - If you pay for an item purchased online using the balance in your PayPal Balance Rewards Account, PayPal will pay the merchant, but hold off on taking your payment until you receive your item and confirm that it is exactly as it was described. In other words, the money will leave your account only after you approve the item you purchased. If you do not approve the item you can return it without having to make any payment."

hotandvintage · Joined: 09 Feb 2008 Posts: 1705

At what point will they introduce any seller protection?

elliemay · Joined: 26 Jul 2007 Posts: 1259

When did they email the survey to you? Do you think it will become a bank in 2010?

I'm with hotandvintage in asking when are they going to protect us sellers?

cohibastore.com · Joined: 14 Sep 2006 Posts: 4908

I got it yesterday I did not have a chance to post until late today.

It seemed like the long term preliminary survey trying feel out the options like ebay did for stores 2 years ago.

One thing the that struck me was there was also a sub theme about not having accounts frozen. The fact that they asked about it hints that they know it has hurt their reputation.

One of the unrelated questions was about using a PP checking account. I said politely NO WAY IN HELL because PP has reputation for randomly freezing accounts for vaguely worded TOS and even more vaguely executed. You would have to be insane to may them the sole holder of your cash.

CS

elliemay · Joined: 26 Jul 2007 Posts: 1259

Thanks for the heads up on this. It will be interesting to see what is ahead for paypal. I think it's a little bit late for them to expect people to trust them with large sums of cash on deposit.

DaLizardsLair · Joined: 15 Feb 2009 Posts: 4780

hotandvintage wrote (View Post): › docWrite("quote")At what point will they introduce any seller protection?

At about the same time that the buyer's credit card issuer does. Remember, Paypal is a PAYMENT method.

The only protections they have ever offered concerned INR complaints, if you can PROVE that the buyer got the item and credit card chargebacks, if you had jumped through all of PPs hoops.

Paypal should never be confused with a Merchant Account.

As for my keeping large sums of money in my Paypal account?

Not very likely. I have it tied to a checking account that was opened specifically for Paypal. It never contains more than a small amount in it. Currently it has $8 and change.

When I get sales, I first transfer the money from my Premiere account to my Personal account, which I used for making purchases, and is tied to the checking account mentioned above. Then I have the money wired to that account. After which, I withdraw the money from that account, and drive to my other bank and deposit it in my real accounts.