How is Paypal working out for you lately?

Well, yes, but for me, if I’m selling something, I’m doing it because I need the actual cash, not because there’s something I want to buy. Paypal has really gone downhill, imo. Last time I sold something, the man paid through Paypal, I sent his item 2nd day as soon as he did. Even after receiving confirmation that the man had received his package, Paypal made me wait 10 days to “withdraw” my money, and then it took 3 days for it to reach my bank. Not an expiditious system if you really need the money. I also object to all the “fees” they’ve started charging. I don’t seem to remember it costing so much money to get paid.

I think the fact that PayPal was acquired by eBay explains a lot of things. Business practices like these are NEVER beneficial to consumers but to the business holding the (near ) monopoly There are many eBay sellers who will not accept any other form of payment other than PayPal.

@laurenkem @Buttonstc Hi, thanks for your posts. Turns out I assumed incorrectly. But I blame Wells Fargo because in their entry in my account, it looked as if the 30 bucks was the fee for the transfer when in fact it was payment for a separate transaction through Paypal as well.

I too experienced waiting for days for the money from EBay. It was designed to protect the buyer more than the seller, I guess. Yes, it’s money you couldn’t count on in an emergency.

I’m glad you got it straightened out to your satisfaction.

But it doesn’t change my point of view on the near monopoly status that PayPal holds vis a vis eBay transactions. If a seller wont accept any other form of payment, that’s not a good thing for consumers in the long run.

You can no longer sell on ebay and not accept Paypal credit card payments. ebay makes sure the seller pays a commission on the item, plus ebay gets a slice of the payment when it comes in. Not a bad scam, I mean, business model. I stopped selling on ebay years ago. I’ve been using Paypal for 13 years and never had a problem. I have a “personal” account (which I don’t think you can even get now) and I can only be paid with a Paypal balance and/or bank account—no credit cards. Ebay will not allow me to sell on their site unless I “upgrade” my account to accept credit cards. Nope. So, I haven’t had problems with them because I no longer sell on ebay.

Paypal holds your money so they can earn interest on it.