They really have thrown their reputation down the drain. Everyone I talk to is always scared of PayPal saying they can't rely on them to store a good amount of money even
I absolutely detest PayPal. When using Ebay to purchase pricey items, my only choice is to use Ebay gift cards, and I'm sick of having that as my only payment method. Why is Ebay unable to just take Bitcoin.
Part of problem is PayPal outsourced the hell out of it to India and even the employees in Calif are from India who got Visa. Outsourcing isn’t bad but they cut corners and relied on workers who basically have don’t understanding of their main markets and use automated software for fraud detection ( allowing scammers to exploit it). For PayPal to recover they need to reverse course and open new offices in other parts of US to get better employees who have understanding of US consumer.
@@josephcosta7061 that’s the call center which is mostly done by another firm which can based on out of US, Philippines or India. The people who actual do investigations, IT etc are PayPal employees from India
I got scammed by PayPal even after I had proof of receipt of the contract, product delivery, signature and facial identification, and despite that, all the customer had to do was claim fraud. Pure laziness...
The first time I sold stuff on eBay and got paid by PayPal I was stunned by the cost. With the fees the charged and with their lousy FX rate I in the end paid almost 20 percent or ~130 dollar in commission. This for a service that took seconds to process.
Use a crypto like Monero. Zero fees, & unlike paypal buyers cant chatge back, so merchant sites will be based off reputation rather than purchase protection, scammers get bad reviews. Also unlike other crypto currencies Monero protects your private financial information. Most cryptos use public ledger blockchains & are the opposite of Anonymous. Bitcoin, litecoin, & ethereum is one of the worst as it uses account based structures. For finance on the internet Monero (XMR) is the future & it's been growing quite a bit during the past decade.
Paypal's customer service is also a joke. The first intentionally removes their customer service email in order to deter you from contacting them and forces you to either use the in-app feedback feature (which sucks) or phone them directly which more often than not takes 30-60 minutes just to get in line with them. Their social media account which I bet is run by a team of underpaid workers is more useful than their whole customer service team at this point.
6:28 those were standard rates. You can bet Walmart and Target are not paying that. Just like credit cards, they get a lower rate because of the huge volume. Mom and pop shops have to pay alot for per transaction.
Those are huge rates. 3.49% for processing a payment / transfer ? That's outrageously high. This is a tech company with an ultra scalable business model. The code written by a handful of developers can handle billions worth of payments...
The only bad experiences I had on eBay were caused by PayPal when there is a freeloader. Also, most websites have learned the lesson and offer multiple payment options, so there is no reasons whatsoever to use Paypal. If a website only offer PayPal as payment processor, buy from somewhere else. There are Chinese sellers that only take PayPal, just avoid them - you receive a load of defective tat anyway, and they pretend you pay the shipping to China and PayPal agrees with them...
You're absolutely right I like to use eBay I want to buy expensive stuff from eBay there is a 3D printer that cost $128,000 I would say taxes and all that I included but that isn't the exact price it's a little bit less. I don't have a bank account I only option is to use eBay gift cards which I don't want to have to put on my money into Amazon or ebay gift cards Or I can use PayPal I fucking hate PayPal This isn't just a problem with the eBay this is a problem with Amazon All you can do is use Amazon gift cards or eBay gift cards if you don't have a bank account I refuse to ever use PayPal at all I fucking hate PayPal I would suggest using Newegg it even accepts Bitcoin.
@@mechamicro yeah I have only seen extremely pro consumer from PayPal. Sucks that scammers ruin the experience for sellers but pro consumer is pretty nice once in a while.
I use PayPal for every transaction that offers it. I've never been scammed and really enjoy the ease of using it. I have been scammed several times with my credit cards and bank cards. I got my money back, but it was a huge hassle.
As a Canadian I have a reasonably positive view of PayPal. I don't use it often but I do like using them as a "middleman" for an online retailer I don't really feel comfortable giving my credit card or banking information OR if its a "one-off" purchase where it is easier to put in my PayPal username and password than my credit card info. Also, for an online subscription that did not provide the service I had hoped it was easier to "cancel recurring bill" within PayPal than cancel on the company site and much easier/faster than contacting my bank to stop the payments.
I only use paypal to receive payments for work. I don't see the reason to use paypal at all in my country and they don't support it either anyways. Most online payments are taxes and other stuff such as public transport. There is no need for paypal there and even in shopping those are in big known stores that are properly managed and in result paypal is not needed.
As another Canadian Paypal has been useful to me as well. I never store money on it, i just have my card/bank accounts connected and use it as a protective layer and more secure way of not leaking my credit card info to the internet.
@@Nabee_H Yep just got refunded and it went back to my bank account. Never had an issue with Paypal if you are just using it to make transactions easier.
I remember in 2020 my friend sent me $40 and I couldn't access it for months because my card got flagged for some reason, and support said they unflagged it twice but it didn't get unflagged for months. Couldn't buy things on eBay during this time either because PayPal is their payment processor. There was also some time where I couldn't access my account because they wouldn't accept my phone number for verification. Imagine if it was thousands of dollars, or I was having an emergency. It's convenient for small transactions but is simply not reliable for a transaction of high importance or value.
Yep same here, I was accepting a rent payment from an international tenant, to the tune of thousands, and of course the money instantly got held and I couldn't access it. This is totally unacceptable.
Well watching this video made me realise that India is way ahead of west when it comes to Online merchant payments. Here there are literally plethora of options for payments and a person can virtually never be forced to use a single payment gateway which they detest. Moreover I never knew this would be a problem in today's world 😅 until I watched this video. Plus many modes of payments are free, no charges whatsoever.
I’ve only ever needed to use PayPal’s refund policy once, but they did completely refund me when I didn’t receive something I bought from Etsy. Honestly I have no beef with PayPal hahah
I laughed so hard when you mentioned dispute teams should focus more on knowing the real story not closing the case quickly. You see they have this quota AHT (Average Handling Time) and representatives just have to manage the case within that AHT period or else it's a performance issue. Of course, they have the "knowledge-based matrix" and every thing that the representative said should be aligned with that. I know every company has that kind of system not just Paypal. Also, just to let you know, most of customer services are strategically placed off-shore so it's really excruciating to solve a problem that representatives themselves can't personally oversee.
The one and only time I suspected I'd purchased a "scam" product, Paypal did side with me and gave a refund. As it turned out in the end, it wasn't actually a scam either. They just took several months to finally ship the pair of shorts I had ordered. No idea why it took them that long to finally get around to shipping the order, but Paypal agreed that they hadn't been shipped and that they really should have been by that point.
There aren't ideal companies, customer support and people who could make mistakes; sad stories unfortunately are everywhere. Consumers usually write feedback, when things go wrong, not when all is good. Taking into consideration PayPal turnover and customer growth, fees are likely acceptable for what PayPal is offering. If we are talking about Apple which you highlighted, we had PC, laptop and phone that magically start to glich, when warranty is expired, so not sure whether by accident or intention. There were also number of lawsuit cases raised of iPhone planned obsolescence.
i loved paypal, i've never had trouble with it. i even had an incident where my money went to a bad person and Paypal returned my money and locked their account within a few days. outside of America & the UK there's limited payment platforms like Paypal so it's good that we at least have something rather then nothing
I agree, to add, i worked at the call center (mexico) were the customer service was based, underpaid people, no preparation, bad facilities, and most of the employees were deported people or young students.
You've brought out my pain. This needs to be addressed and every company that has grown beyond imagination has this arrogant attitude, from fb, google that has put automation and non human alogorithms in place to handle customer queries. I only see decentralised p2p payments as a solution to freedom from these arrogant middle men(algorithms).
The author: PayPal is like an unregulated bank Still the author: PayPal is like un unregulated credit card Still the author: I don't get why you don't trust it...
Man when I was selling on eBay they would hold my funds for 21 days, regardless of whether the buyer had left positive feedback or not. Even with tracked postage being successfully received. From my exp they went downhill when they were bought out by ebay.
I was always extremely terrified that PayPal would freeze my account at any moment with a large balance. But after processing over 7 figures through PayPal I only had maybe less than 10 charge backs which I was able to deal with offline anyways. And some how never had the account frozen. Thankfully I've dropped using PayPal awhile ago and consider myself extremely lucky!
I was a merchant on eBay, but quickly stopped. I had 1 big roblem: eBay didn't let buyers pay other than trough Paypal. So you have: eBay: something like 4% and Paypal almost 4% and both with other fees. And, don't forget, everybody wants free shipping.
I haven't watched the video yet but I feel the need to immediately comment how much I hate paypal and why. They would just shut down any account I opened with them and not give a reason. Pretty self explanatory.
I have had to take PayPus to the Australian Banking Ombudsman 5 times now. The Ombudsman found in my favor 3 times and PayPus immediately gave in and released MY money the other 2 times. We are fortunate to have this protection in Australia from this shady, shonky company. ANY Australian who has ANY issues with PayPus MUST file a complaint with the FSO IMMEDIATELY!
I've heard a number of stock picking RUclips channels advocate for why Paypal stock is cheap over the last year, but Paypal is one of those stocks that I simply can't buy no matter how cheap it is. I've never used any of their products (a credit card works just fine for me), and I've heard WAY too many stories online about people being screwed over by Paypal, such as Paypal locking people's account and not letting them access their own money. Whereas by contrast I've never heard anyone complain about how Visa or Mastercard screwed them over.
Just had my account locked 3 days ago by a seemingly automated system causing me to lose money till I replace them :) I don’t hate PayPal but they are just doing so much wrong in recent years. In my experience PayPal sides with customer or merchant randomly.
my 310$ is stocked with them since 2016 lol . their support is shit , the play tennis with users passing them to one support agent and then to another. and their support agents are dumb. i had give up on money. I wish NK KIM just nuke paypal headquarters
scammers have insiders in Paypal that provide them with information about the dispute process. That mainly has to do with the relocation of customer service overseas where there is no respect for privacy or for trade secrets.
I've been using PayPal for about 10 years and I'm pretty satisfied. They have me a $750 line of credit when I was in my early 20s and that helped me build my credit (and they eventually extended that line up to $2100). I mainly use it for internet retailers because I don't like putting my card info on a bunch of sites. It was super helpful when I got in a car wreck cuz I was able to get some parts from autozone with the line of credit.
I had someone try to scam me just a few weeks ago. Accidentally sent the wrong tracking information to them. Once they received the item they filed a complaint that it was not received. Took me a few days to realise what I had done and thought I sent the item to an incorrect address. Once I realized I updated tracking information showing they received the item just a few hours before filing their complaint and responded to their refund request. Thankfully the buyer closed it themselves the following day as I'm sure PayPal would have sided with them anyway (They have with proof of delivery in the past). For anyone selling on eBay you will notice a trend, the more expensive the item the more likely it will go "missing". I always wonder how the postman knows the cost of items when everything I still is almost the same size
I always considered PayPal the safe option for sketchy purchases, once got scammed and appealed 25 days after purchase (within one month threshold) and PayPal got my money back. Don't know how PayPal manages to mess up and cause so many incidents...
Same dude. This business twitter account with over 500k followers scammed but PayPal actually did refund me. I tried to buy a ps4 for 50 dollars back in the day lol
I keep getting emails from PayPal telling me that they've changed their terms and legal conditions and that I should review them and encouraging me to install some app on my phone as another means of payment in order to receive packages shipped to my doorstep on an expedited basis. The thing is - I haven't used PayPal for years and have no intent to do so. Even worse are other payment options such as Venmo and definitely Chime. In fact there's a big handwritten sign in the front window of the local Dollar Store telling everyone ""Chime not accepted here today. Sorry for the inconvenience." It's frustrating
I use paypal since 2016. Never got a problem like the ones in the video but in aware that customers are unhappy about the service provided by paypal. I must be a lucky one because on 2 purchases I made, both were scam. Contacted Paypal and case solved in 2/3 days
Cash app is worse. At least with paypal you can dispute a charge. You can't even talk to a human on cash app, I filled unemployment for a friend, and the deposits were to go on cash app, there were 2, one for 7k, one for 9k, the 7k cleared and the 9k was "not accepted" and cashapp sent a notification that the deposit went back to unemployment, when this happens with a normal bank you can have the deposit reissued by unemployment if you provide another active bank acct number, they will have a record if it didn't clear.. When I went to get the payment reissued, unemployment said it had cleared with cash app, even though cash app had rejected it. You can't reach anyone at cashapp or dispute any transaction... My friend died a year later and never received the 9k, cash app never returned the money.
500€ were sent to my last payment via paypal without me knowing, all of it off my credit card. I did not initate the payment, no one has connected to my paypal account and the company that received the money refunded me what they received (around 430€) and I lost 70€ in fees. I contacted support numerous times but couldnt get the fees back. I was 16 at the time and 70€ was a LOT for me. Never used paypal again
I HATE paypal. Total bullshit company that makes money by charging large fees and then proceeds to hold your money for along time whenever they feel like it, and call it a 'glitch' or 'suspicious transaction'
Once I bought a product that claimed to be a genuine Mi Band, but I got a complete knock off. They offered a partial refund but I was like heck no, I have nothing to do with this product. So they pretty much said screw you and left me with nothing.
oh, and also Paypal goes by their own internal exchange rate, so if your exchange rate is $1.5 for USD to euro, Paypal charges you $1.75 USD per 1 Euro, meaning big ticket items become so much bigger, they manipulate it so that if the rate was higher yesterday but it's lower today they can slowly lower it by half the difference and only half and if it recovers then they jump back to the amount rather than giving people, however if you are to go the other way, they will give you the exchange rate that is not in your favour... in fact if you are to be buying USD from Euro, you will be buying at a rate that is less than what the market is offering. So yes, they do manipulate the exchange rate which is really big problem.
7:02 As far I know, in Mexico that’s even worse because the “PayPal balance” doesn’t exists per goverment regulations. So, you have to pay the fee to PayPal PLUS the conversion fee PLUS the fee to transfer the money to the bank account or debit/credit card linked to your PayPal account. That’s 3 fees to pay if you recieve money through PayPal in Mexico.
To be fair, most people having good experiences with the PayPal dispute system don't usually document their experience, hence you only see the bad experiences. However, this is why when people ask me where to deposit my money, I always go with bank - previously I always went with PayPal. But because of frequent close calls with lock-outs from all of my funds, I decided not to anymore. The only thing they're worth using for is payment protection when paying directly via card.
I use PayPal as a backup payment method for my business. And there are a lot of little annoying things meant just to squeeze more money from my business. Like being obliged to convert currencies with their 4% thief rate.
PayPal is honestly outdated and over the hill!! We have to many options nowadays that it doesn’t even matter anymore!! Cash app and Venmo are what’s popping now!!
I work in Asia. Some work requires payment to and from freelance contractors in overseas countries. I wish Zelle functioned outside the U.S. In the meantime, I prefer using Wise or Revolut as superior options to avoiding Paypal's unjustifiably high service fees.
if corporations had the same rights as humans: "our corporation is indigenous with many a dependencies called... employees, give us money so that we can continue to suckle on society and your governments bosom!"
I closed my paypal account when it came out they think they can steal your money for something you said. WTF, Yea paypal guess what there are already consequences for the things you say like the destruction of your company.
Over here in germany we do not have many other options. There is paypal, simple transaction from your bank account, Credit Cards and Klarna. Most people don't have credit cards though or they use them just rarely. I do not have a credit card and use paypal for everything, though I only buy online from established sellers (C&A etc).
The iPhone to India scam is exactly what got me done with PayPal. I shipped two phones to India and got disputed and I ended up having to pay back $1500 and two phones gone…
i would consider Stable coins as an potential alternative and want it to get mainstream. It gives Freedom, Security, Speed, Ownership and Control and doesn't have to deal with a literally non existent customer care nonsense with these Banks and Intermidiary corporates.
I use Paypal whenever I can for online purchases and have only had positive experiences. On a number of occasions, an unscrupulous seller has substituted a lesser or faulty product. Upon lodging the request for a refund, they are very prompt in investigating and always refund the disputed amount. If you try to buy something that looks too good to be true or from a seller that has lots of negative feedback, you are taking unnecessary risks and may be refused a refund.
Funny thing is I bought a ps4 from a sketchy Twitter small buisness when I was like 11 years old for 25 dollars and I got scammed. But PayPal actually refunded me😂
Accepting rent payments from PayPal seems like an extremely pointless mistake. If you are renting an apartment that people actually want to live in, the only people that you will turn away by not accepting PayPal or venmo are kids who probably won't be the best tenants anyways, especially if they're only willing to use PayPal
The problem is that there are some web sites that won't accept your american credit cards so we need to use paypal for that. In those specific situations we need to use scummy paypal.
@@Lucas-jp7uz i try to buy from US shops online, but they have so many barriers to foreign buyers. I think the trade deficit would be halved if US shops allowed foreigners to buy their stuff. Its crazy they don’t. I can’t order from Walmart or Target and have them send it over seas.
@@TheBooban I'm no where near educated enough to speak on this issue lol. I do agree with you that if it's possible to ship to your country then companies should try and reach you. Otherwise you find people on ebay (etc) scalping simple household products for a decent % above say Walmarts prices. I've bought stuff off eBay for 15ish usd, that I found on Walmart for 8 usd. Or on Amazon for 30 usd and on Walmart for 6-7 usd. Idk what todo about it tho
PayPal also seems to refuse brazilian military id cards. So my stepfather serves the brazilian air force, and since i'm living with him and my mother, i could get a military id card as dependent instead of a common civilian one when i needed to renew it. When i sent them the id photos to confirm the account, there never was a notification (like the app told they would send) neither there were any error message explaining why it couldn't be accepted. Good thing i couldn't open the account and spend any money before knowing all of this.
I don't trust them. I've only done about three transactions in the last 12 years two of them went badly. about a year ago I sold a $2000 piece of equipment and I was terrified that they would seize my money some kind of way. Shockingly I had no problems. Two years ago this same piece of equipment I pulled down because I could not get the buyer to use another system. There are still some people who are so obsessed with using this scam portal but they will think you suspicious if you try to get them to use something else.
Killed my account when people started sending me random invoices. They pop up on your notifications and on your home screen with a "convenient" click to send this random person money. There's also no way to decline or get rid of them. Learned this is a known issue, has been for years apparently. Garbage company.
Interesting… never had issues with PayPal… as a buyer at least. I guess it’s been positive in the few times I had to call them to complain about a merchandiser. I guess the fees are a bit high to send money .. but years ago when I had to use companies to transfer money internationally it was not cheap either … maybe people don’t remember those times or til then never bought stuff with a small company or individual overseas and consequently never need to go to a Walmart or some money order office to send money .
I had that first example happen to me. It was for a turntable for sale from an unknown overseas company. It never arrived after saying it had been shipped. I filed a complaint with paypal. About 4 weeks later after verifying that it was a scam they refunded my money $140. Buyer beware of any weird or shady company. Or the whole thing was fake to scam people. Buy from Trusted Sellers only is my advice. If the price is too good to be true it probably is.
Increasing customer services and thoroughly resolving suspicious transactions are COST to PayPal. They'll minimize that as much as possible, instead of improving it. Only if there is mass outcry and exodus would that possibly happen in practice and not just PR.
Personally, I love PayPal, it's so easy to keep track of my transactions and send money overseas. Yes, I have dealt with other platforms, but don't find them as straightforward as PayPal. Plus, PayPal is more integrated in more websites than the alternatives, so there's that.
I think the biggest failure of Paypal is they assumed too much power for themselves, and try to be a dictator, while they really should just act like a utility.
They really have thrown their reputation down the drain. Everyone I talk to is always scared of PayPal saying they can't rely on them to store a good amount of money even
Really quite a demise
I absolutely detest PayPal. When using Ebay to purchase pricey items, my only choice is to use Ebay gift cards, and I'm sick of having that as my only payment method. Why is Ebay unable to just take Bitcoin.
Part of problem is PayPal outsourced the hell out of it to India and even the employees in Calif are from India who got Visa. Outsourcing isn’t bad but they cut corners and relied on workers who basically have don’t understanding of their main markets and use automated software for fraud detection ( allowing scammers to exploit it).
For PayPal to recover they need to reverse course and open new offices in other parts of US to get better employees who have understanding of US consumer.
@@Jeez001 recently I have only gotten native English speakers when talking to support.
@@josephcosta7061 that’s the call center which is mostly done by another firm which can based on out of US, Philippines or India. The people who actual do investigations, IT etc are PayPal employees from India
I got scammed by PayPal even after I had proof of receipt of the contract, product delivery, signature and facial identification, and despite that, all the customer had to do was claim fraud. Pure laziness...
Andrew Tate said why pay people back if it's not a loan shark or bank. Because they'll actually go after you.
ya win some and lose some
billionaires like failure as it's the only way to learn.
Sorry to hear that man
I’m sorry, lots of these companies don’t care about sellers even tho you’re the ones making the platform profitable
The first time I sold stuff on eBay and got paid by PayPal I was stunned by the cost. With the fees the charged and with their lousy FX rate I in the end paid almost 20 percent or ~130 dollar in commission. This for a service that took seconds to process.
Use a crypto like Monero.
Zero fees, & unlike paypal buyers cant chatge back, so merchant sites will be based off reputation rather than purchase protection, scammers get bad reviews.
Also unlike other crypto currencies Monero protects your private financial information. Most cryptos use public ledger blockchains & are the opposite of Anonymous. Bitcoin, litecoin, & ethereum is one of the worst as it uses account based structures.
For finance on the internet Monero (XMR) is the future & it's been growing quite a bit during the past decade.
eBay sucks for small sellers!
And high risk
Paypal's customer service is also a joke. The first intentionally removes their customer service email in order to deter you from contacting them and forces you to either use the in-app feedback feature (which sucks) or phone them directly which more often than not takes 30-60 minutes just to get in line with them. Their social media account which I bet is run by a team of underpaid workers is more useful than their whole customer service team at this point.
Dang, these companies are horrible
Your work is miles ahead of anything Ive seen on mainstream news media...bravo!
6:28 those were standard rates. You can bet Walmart and Target are not paying that. Just like credit cards, they get a lower rate because of the huge volume. Mom and pop shops have to pay alot for per transaction.
Oh yeah, that’s true too
Those are huge rates. 3.49% for processing a payment / transfer ? That's outrageously high. This is a tech company with an ultra scalable business model. The code written by a handful of developers can handle billions worth of payments...
The only bad experiences I had on eBay were caused by PayPal when there is a freeloader.
Also, most websites have learned the lesson and offer multiple payment options, so there is no reasons whatsoever to use Paypal.
If a website only offer PayPal as payment processor, buy from somewhere else.
There are Chinese sellers that only take PayPal, just avoid them - you receive a load of defective tat anyway, and they pretend you pay the shipping to China and PayPal agrees with them...
You're absolutely right I like to use eBay I want to buy expensive stuff from eBay there is a 3D printer that cost $128,000 I would say taxes and all that I included but that isn't the exact price it's a little bit less.
I don't have a bank account I only option is to use eBay gift cards which I don't want to have to put on my money into Amazon or ebay gift cards
Or I can use PayPal I fucking hate PayPal
This isn't just a problem with the eBay this is a problem with Amazon
All you can do is use Amazon gift cards or eBay gift cards if you don't have a bank account
I refuse to ever use PayPal at all I fucking hate PayPal
I would suggest using Newegg it even accepts Bitcoin.
I don’t get why people buy stuff on eBay, there is a high chance of getting scammed or getting a really faulty product, even higher than Amazon.
@@oo--7714 used phone and bidding. PayPal does more pro buyers than sellers
No, if a website doesn't offer paypal, don't use it, paypal is way more secure than giving your credit card to a rando website.
@@mechamicro yeah I have only seen extremely pro consumer from PayPal. Sucks that scammers ruin the experience for sellers but pro consumer is pretty nice once in a while.
I use PayPal for every transaction that offers it. I've never been scammed and really enjoy the ease of using it. I have been scammed several times with my credit cards and bank cards. I got my money back, but it was a huge hassle.
PayPal does seem safer for purchases. I've been using it 15+ years without indecent.
@@crash_test_dummy_1 THey also pay return shipping.
As a Canadian I have a reasonably positive view of PayPal. I don't use it often but I do like using them as a "middleman" for an online retailer I don't really feel comfortable giving my credit card or banking information OR if its a "one-off" purchase where it is easier to put in my PayPal username and password than my credit card info.
Also, for an online subscription that did not provide the service I had hoped it was easier to "cancel recurring bill" within PayPal than cancel on the company site and much easier/faster than contacting my bank to stop the payments.
do you work for paypal by chance?
@@ricksanchez9669 I do not. If they want to hire me part-time perhaps it'd be a side-hustle I'd consider!
I only use paypal to receive payments for work. I don't see the reason to use paypal at all in my country and they don't support it either anyways. Most online payments are taxes and other stuff such as public transport. There is no need for paypal there and even in shopping those are in big known stores that are properly managed and in result paypal is not needed.
As another Canadian Paypal has been useful to me as well. I never store money on it, i just have my card/bank accounts connected and use it as a protective layer and more secure way of not leaking my credit card info to the internet.
@@Nabee_H Yep just got refunded and it went back to my bank account. Never had an issue with Paypal if you are just using it to make transactions easier.
I remember in 2020 my friend sent me $40 and I couldn't access it for months because my card got flagged for some reason, and support said they unflagged it twice but it didn't get unflagged for months. Couldn't buy things on eBay during this time either because PayPal is their payment processor. There was also some time where I couldn't access my account because they wouldn't accept my phone number for verification. Imagine if it was thousands of dollars, or I was having an emergency. It's convenient for small transactions but is simply not reliable for a transaction of high importance or value.
Yep same here, I was accepting a rent payment from an international tenant, to the tune of thousands, and of course the money instantly got held and I couldn't access it. This is totally unacceptable.
Well watching this video made me realise that India is way ahead of west when it comes to Online merchant payments. Here there are literally plethora of options for payments and a person can virtually never be forced to use a single payment gateway which they detest. Moreover I never knew this would be a problem in today's world 😅 until I watched this video.
Plus many modes of payments are free, no charges whatsoever.
I’ve only ever needed to use PayPal’s refund policy once, but they did completely refund me when I didn’t receive something I bought from Etsy. Honestly I have no beef with PayPal hahah
I laughed so hard when you mentioned dispute teams should focus more on knowing the real story not closing the case quickly. You see they have this quota AHT (Average Handling Time) and representatives just have to manage the case within that AHT period or else it's a performance issue. Of course, they have the "knowledge-based matrix" and every thing that the representative said should be aligned with that. I know every company has that kind of system not just Paypal. Also, just to let you know, most of customer services are strategically placed off-shore so it's really excruciating to solve a problem that representatives themselves can't personally oversee.
The PayPal app has gotten so much more complicated compared to what it was a couple years ago
it's on purpose it is really easy to put money on it but it's almost impossible to reverse or refund or even try to make a ticket to the support
The one and only time I suspected I'd purchased a "scam" product, Paypal did side with me and gave a refund.
As it turned out in the end, it wasn't actually a scam either. They just took several months to finally ship the pair of shorts I had ordered. No idea why it took them that long to finally get around to shipping the order, but Paypal agreed that they hadn't been shipped and that they really should have been by that point.
There aren't ideal companies, customer support and people who could make mistakes; sad stories unfortunately are everywhere. Consumers usually write feedback, when things go wrong, not when all is good. Taking into consideration PayPal turnover and customer growth, fees are likely acceptable for what PayPal is offering. If we are talking about Apple which you highlighted, we had PC, laptop and phone that magically start to glich, when warranty is expired, so not sure whether by accident or intention. There were also number of lawsuit cases raised of iPhone planned obsolescence.
i loved paypal, i've never had trouble with it. i even had an incident where my money went to a bad person and Paypal returned my money and locked their account within a few days.
outside of America & the UK there's limited payment platforms like Paypal so it's good that we at least have something rather then nothing
I agree, to add, i worked at the call center (mexico) were the customer service was based, underpaid people, no preparation, bad facilities, and most of the employees were deported people or young students.
You've brought out my pain. This needs to be addressed and every company that has grown beyond imagination has this arrogant attitude, from fb, google that has put automation and non human alogorithms in place to handle customer queries.
I only see decentralised p2p payments as a solution to freedom from these arrogant middle men(algorithms).
Then you do crypto then next day tank 50%. Will you take that salt?
@@mechamicro i would consider Stable coins as an potential alternative. It gives Freedom, Security, Speed, Ownership and Control
The author: PayPal is like an unregulated bank
Still the author: PayPal is like un unregulated credit card
Still the author: I don't get why you don't trust it...
this and......................................
the political biases they take...........
go look it up yourself...
I never had a problem with PayPal.
I don't think PayPal sides with the scammers. I think PayPal tell each party that they are siding with the other and simply takes the money.
Actually didn't of that. I wouldn't put that passed them one bit. I bet they do!
As a paypal merchant, what disgusts me is if you refund a customer for any reason, paypal keeps the original transaction charge. It is criminal.
Man when I was selling on eBay they would hold my funds for 21 days, regardless of whether the buyer had left positive feedback or not. Even with tracked postage being successfully received.
From my exp they went downhill when they were bought out by ebay.
Ebay does their own payments now. And I get paid as soon as I ship
Sounds super annoying
Ebay doesn't own them anymore, blackrock does
I was always extremely terrified that PayPal would freeze my account at any moment with a large balance. But after processing over 7 figures through PayPal I only had maybe less than 10 charge backs which I was able to deal with offline anyways. And some how never had the account frozen. Thankfully I've dropped using PayPal awhile ago and consider myself extremely lucky!
I was a merchant on eBay, but quickly stopped. I had 1 big roblem: eBay didn't let buyers pay other than trough Paypal.
So you have: eBay: something like 4% and Paypal almost 4% and both with other fees. And, don't forget, everybody wants free shipping.
Thank god Revolut exists, it’s honestly the best 360 degree banking service, and the best part is that they’re basically fee less
I haven't watched the video yet but I feel the need to immediately comment how much I hate paypal and why. They would just shut down any account I opened with them and not give a reason. Pretty self explanatory.
Hahaha savage
And in some cases keep the money you had in it I bet too >.>
The $2500 fine that was suggested for fake news also doesn’t help paypal
I have had to take PayPus to the Australian Banking Ombudsman 5 times now. The Ombudsman found in my favor 3 times and PayPus immediately gave in and released MY money the other 2 times. We are fortunate to have this protection in Australia from this shady, shonky company. ANY Australian who has ANY issues with PayPus MUST file a complaint with the FSO IMMEDIATELY!
I've heard a number of stock picking RUclips channels advocate for why Paypal stock is cheap over the last year, but Paypal is one of those stocks that I simply can't buy no matter how cheap it is. I've never used any of their products (a credit card works just fine for me), and I've heard WAY too many stories online about people being screwed over by Paypal, such as Paypal locking people's account and not letting them access their own money. Whereas by contrast I've never heard anyone complain about how Visa or Mastercard screwed them over.
Same. Many investors miss the point with alot of stocks. They think they’re being “contrarian” when really they just dumb and assuming things.
they blocked my account with 300 euros and i never got it back :(
Fair enough
@@alexg3745 they blocked my account with 200 pounds and deleted my account took me months to get it back
@@seansteinberg3827 why did they close it though?
PayPal literally blocked me without giving me any reason. My money is still suck in there for 180 days.
Yikes
Just had my account locked 3 days ago by a seemingly automated system causing me to lose money till I replace them :) I don’t hate PayPal but they are just doing so much wrong in recent years. In my experience PayPal sides with customer or merchant randomly.
my 310$ is stocked with them since 2016 lol . their support is shit , the play tennis with users passing them to one support agent and then to another. and their support agents are dumb. i had give up on money. I wish NK KIM just nuke paypal headquarters
@@Xerox482 shit maybe I won't get mine either
scammers have insiders in Paypal that provide them with information about the dispute process. That mainly has to do with the relocation of customer service overseas where there is no respect for privacy or for trade secrets.
I've been using PayPal for about 10 years and I'm pretty satisfied. They have me a $750 line of credit when I was in my early 20s and that helped me build my credit (and they eventually extended that line up to $2100). I mainly use it for internet retailers because I don't like putting my card info on a bunch of sites. It was super helpful when I got in a car wreck cuz I was able to get some parts from autozone with the line of credit.
With their new 2500 fee for posting presumed "misinformation", yeah. I'm closing my account as soon as I finish paying off my balance.
The moment i clicked on this video, a PayPal Advertisement appeared before the video started, reply and like if that happened to you.
Only issue I have with them it's their high fees
I had someone try to scam me just a few weeks ago. Accidentally sent the wrong tracking information to them. Once they received the item they filed a complaint that it was not received.
Took me a few days to realise what I had done and thought I sent the item to an incorrect address.
Once I realized I updated tracking information showing they received the item just a few hours before filing their complaint and responded to their refund request.
Thankfully the buyer closed it themselves the following day as I'm sure PayPal would have sided with them anyway (They have with proof of delivery in the past).
For anyone selling on eBay you will notice a trend, the more expensive the item the more likely it will go "missing". I always wonder how the postman knows the cost of items when everything I still is almost the same size
I always considered PayPal the safe option for sketchy purchases, once got scammed and appealed 25 days after purchase (within one month threshold) and PayPal got my money back.
Don't know how PayPal manages to mess up and cause so many incidents...
Same dude. This business twitter account with over 500k followers scammed but PayPal actually did refund me. I tried to buy a ps4 for 50 dollars back in the day lol
This is why I still opt to PayPal because if I got fraud PayPal will take it seriously
I keep getting emails from PayPal telling me that they've changed their terms and legal conditions and that I should review them and encouraging me to install some app on my phone as another means of payment in order to receive packages shipped to my doorstep on an expedited basis. The thing is - I haven't used PayPal for years and have no intent to do so. Even worse are other payment options such as Venmo and definitely Chime. In fact there's a big handwritten sign in the front window of the local Dollar Store telling everyone ""Chime not accepted here today. Sorry for the inconvenience." It's frustrating
I use paypal since 2016. Never got a problem like the ones in the video but in aware that customers are unhappy about the service provided by paypal. I must be a lucky one because on 2 purchases I made, both were scam. Contacted Paypal and case solved in 2/3 days
You forgot to talk about the misinformation fee
Cash app is worse. At least with paypal you can dispute a charge. You can't even talk to a human on cash app, I filled unemployment for a friend, and the deposits were to go on cash app, there were 2, one for 7k, one for 9k, the 7k cleared and the 9k was "not accepted" and cashapp sent a notification that the deposit went back to unemployment, when this happens with a normal bank you can have the deposit reissued by unemployment if you provide another active bank acct number, they will have a record if it didn't clear.. When I went to get the payment reissued, unemployment said it had cleared with cash app, even though cash app had rejected it. You can't reach anyone at cashapp or dispute any transaction... My friend died a year later and never received the 9k, cash app never returned the money.
What about robbing people of $2,500 when they commit wrongthink?
500€ were sent to my last payment via paypal without me knowing, all of it off my credit card.
I did not initate the payment, no one has connected to my paypal account and the company that received the money refunded me what they received (around 430€) and I lost 70€ in fees.
I contacted support numerous times but couldnt get the fees back.
I was 16 at the time and 70€ was a LOT for me.
Never used paypal again
you cant use paypal when you're 16... its 18 or older legally.
and you had a credit card when you were 16? this story sounds like bs
@@carter8292 debit card* and I have had 3 seperate paypal accounts with different emails over the years and none asked for my ID
they're practical , but if i had a business , i'd consider it seriously as they've been caught stealing money numerous times...
My friend doing a dodgy dropshipping business got all his payment blocked by PayPal. Buyers, sellers, scammers...nobody wins with PayPal...
I HATE paypal. Total bullshit company that makes money by charging large fees and then proceeds to hold your money for along time whenever they feel like it, and call it a 'glitch' or 'suspicious transaction'
Once I bought a product that claimed to be a genuine Mi Band, but I got a complete knock off. They offered a partial refund but I was like heck no, I have nothing to do with this product. So they pretty much said screw you and left me with nothing.
I use Paypal a lot, mainly for Ebay purchases. In twenty years my experience has generally been very good.
Bro I literally have all my money in PayPal 💀
oh, and also Paypal goes by their own internal exchange rate, so if your exchange rate is $1.5 for USD to euro, Paypal charges you $1.75 USD per 1 Euro, meaning big ticket items become so much bigger, they manipulate it so that if the rate was higher yesterday but it's lower today they can slowly lower it by half the difference and only half and if it recovers then they jump back to the amount rather than giving people, however if you are to go the other way, they will give you the exchange rate that is not in your favour... in fact if you are to be buying USD from Euro, you will be buying at a rate that is less than what the market is offering.
So yes, they do manipulate the exchange rate which is really big problem.
I don't use paypal. I formerly used it for ebay payments, but ebay has become scambay. Now all I hear from paypal is various scam letters.
the most horrible customer service I ever encountered. their service phone is down since month... Still fighting
No mention of the fees for "misinformation"
7:02 As far I know, in Mexico that’s even worse because the “PayPal balance” doesn’t exists per goverment regulations. So, you have to pay the fee to PayPal PLUS the conversion fee PLUS the fee to transfer the money to the bank account or debit/credit card linked to your PayPal account. That’s 3 fees to pay if you recieve money through PayPal in Mexico.
To be fair, most people having good experiences with the PayPal dispute system don't usually document their experience, hence you only see the bad experiences. However, this is why when people ask me where to deposit my money, I always go with bank - previously I always went with PayPal. But because of frequent close calls with lock-outs from all of my funds, I decided not to anymore. The only thing they're worth using for is payment protection when paying directly via card.
So. I'm currently stuck with Gcash and PayPal.
Any of you people know any better alternative E-cash transaction apps for international uses?
Real eye opener. Thanks!
I use PayPal as a backup payment method for my business. And there are a lot of little annoying things meant just to squeeze more money from my business. Like being obliged to convert currencies with their 4% thief rate.
PayPal is honestly outdated and over the hill!! We have to many options nowadays that it doesn’t even matter anymore!! Cash app and Venmo are what’s popping now!!
PayPal owns Venmo tho...
Venmo is owned by PayPal my dude… hahaha
You do know that venmo is paypal right?
True, Venmo is owned by PayPal
I work in Asia. Some work requires payment to and from freelance contractors in overseas countries. I wish Zelle functioned outside the U.S. In the meantime, I prefer using Wise or Revolut as superior options to avoiding Paypal's unjustifiably high service fees.
Funny thing is that i got Revolut ad at the start of video.
if corporations had the same rights as humans: "our corporation is indigenous with many a dependencies called... employees, give us money so that we can continue to suckle on society and your governments bosom!"
I closed my paypal account when it came out they think they can steal your money for something you said. WTF, Yea paypal guess what there are already consequences for the things you say like the destruction of your company.
Over here in germany we do not have many other options. There is paypal, simple transaction from your bank account, Credit Cards and Klarna. Most people don't have credit cards though or they use them just rarely. I do not have a credit card and use paypal for everything, though I only buy online from established sellers (C&A etc).
You missed the massive issue of the fine $2,400 for any user due to “misinformation” involvement.
PayPal are a dreadful company.
Recently closed my account. Highly recommended.
The iPhone to India scam is exactly what got me done with PayPal. I shipped two phones to India and got disputed and I ended up having to pay back $1500 and two phones gone…
Write down the phones IMEI and block them if scammed, you shouldn't ship to India at first place.
LOL india is scam heaven , you should check @KitbogaShow
I was weary but i had shipped international before and the money actually cleared both times, they disputed like two weeks later
I hope UPI reaches these western countries soon. It's already adopted in few countries like Japan, S Korea, France, UK, Bhutan, Oman, etc.
Love the videos man
Really glad to hear that man!
i would consider Stable coins as an potential alternative and want it to get mainstream. It gives Freedom, Security, Speed, Ownership and Control and doesn't have to deal with a literally non existent customer care nonsense with these Banks and Intermidiary corporates.
I use Paypal whenever I can for online purchases and have only had positive experiences.
On a number of occasions, an unscrupulous seller has substituted a lesser or faulty product.
Upon lodging the request for a refund, they are very prompt in investigating and always refund the disputed amount.
If you try to buy something that looks too good to be true or from a seller that has lots of negative feedback, you are taking unnecessary risks and may be refused a refund.
Funny thing is I bought a ps4 from a sketchy Twitter small buisness when I was like 11 years old for 25 dollars and I got scammed. But PayPal actually refunded me😂
Hahaha, guess you got lucky
@@LogicallyAnswered true lol this did happen in 2014 so
Accepting rent payments from PayPal seems like an extremely pointless mistake. If you are renting an apartment that people actually want to live in, the only people that you will turn away by not accepting PayPal or venmo are kids who probably won't be the best tenants anyways, especially if they're only willing to use PayPal
The problem is that there are some web sites that won't accept your american credit cards so we need to use paypal for that. In those specific situations we need to use scummy paypal.
It's usually the other way around, companies not letting the website take credit card payments. scummy all the way round
@@Lucas-jp7uz yes, you are correct they also do it to avoid getting cancelled and sell within their contry only.
@@Lucas-jp7uz i try to buy from US shops online, but they have so many barriers to foreign buyers. I think the trade deficit would be halved if US shops allowed foreigners to buy their stuff. Its crazy they don’t. I can’t order from Walmart or Target and have them send it over seas.
@@TheBooban I'm no where near educated enough to speak on this issue lol. I do agree with you that if it's possible to ship to your country then companies should try and reach you. Otherwise you find people on ebay (etc) scalping simple household products for a decent % above say Walmarts prices. I've bought stuff off eBay for 15ish usd, that I found on Walmart for 8 usd. Or on Amazon for 30 usd and on Walmart for 6-7 usd. Idk what todo about it tho
It really depends on the country you are living in. I hear many good stories in the EU and as an Austrian I never had a problem with paypal...
PayPal also seems to refuse brazilian military id cards.
So my stepfather serves the brazilian air force, and since i'm living with him and my mother, i could get a military id card as dependent instead of a common civilian one when i needed to renew it. When i sent them the id photos to confirm the account, there never was a notification (like the app told they would send) neither there were any error message explaining why it couldn't be accepted.
Good thing i couldn't open the account and spend any money before knowing all of this.
I have had PayPal over 15 years and no problems. But it's not like I use it everyday and I have heard a lot of bad press lately...
I don't trust them. I've only done about three transactions in the last 12 years two of them went badly. about a year ago I sold a $2000 piece of equipment and I was terrified that they would seize my money some kind of way. Shockingly I had no problems. Two years ago this same piece of equipment I pulled down because I could not get the buyer to use another system. There are still some people who are so obsessed with using this scam portal but they will think you suspicious if you try to get them to use something else.
Killed my account when people started sending me random invoices. They pop up on your notifications and on your home screen with a "convenient" click to send this random person money. There's also no way to decline or get rid of them. Learned this is a known issue, has been for years apparently. Garbage company.
First Comment! And yes, I can vouch for it as a victim :)
Sorry to hear that Salman. But thanks for watching!
PayPal has becoming home to chargeback scammers.
Interesting… never had issues with PayPal… as a buyer at least. I guess it’s been positive in the few times I had to call them to complain about a merchandiser. I guess the fees are a bit high to send money .. but years ago when I had to use companies to transfer money internationally it was not cheap either … maybe people don’t remember those times or til then never bought stuff with a small company or individual overseas and consequently never need to go to a Walmart or some money order office to send money .
Paypal has always sided with me when it comes to refunds. They have helped me 4 or 5 times over the years.
I had that first example happen to me. It was for a turntable for sale from an unknown overseas company. It never arrived after saying it had been shipped. I filed a complaint with paypal. About 4 weeks later after verifying that it was a scam they refunded my money $140. Buyer beware of any weird or shady company. Or the whole thing was fake to scam people. Buy from Trusted Sellers only is my advice. If the price is too good to be true it probably is.
Increasing customer services and thoroughly resolving suspicious transactions are COST to PayPal. They'll minimize that as much as possible, instead of improving it. Only if there is mass outcry and exodus would that possibly happen in practice and not just PR.
Not gonna lie, the scammer protection is kinda nice ;)
I've personally never had an issue with Paypal both personally and with my business, maybe I'm the minority.
Glad to hear that Jacob
The longer you do business with PayPal the more they turn blind eye to you.
Personally, I love PayPal, it's so easy to keep track of my transactions and send money overseas. Yes, I have dealt with other platforms, but don't find them as straightforward as PayPal. Plus, PayPal is more integrated in more websites than the alternatives, so there's that.
I highly recommend Transfer Wise as alternative. 1 dollar fee in any amount of transaction
3.5% merchant fee is same for stripe and most payment gateway. So it's not like it's ridiculously different from the rest
And SlideShame want to pay us PayPal for just a free trail.
I recommend Wise Transfer as a substitute.
Paypal really has too strict transaction and rules that when they ask me to verify my address, my account become a business account out of nowhere
David Fujimura likes to get stuff then dispute just to make you lose 15 bucks for no reason when getting their items.
I think the biggest failure of Paypal is they assumed too much power for themselves, and try to be a dictator, while they really should just act like a utility.
I don't use PayPal for business. Too risky. Only for personal use and never leave much money on it.
I used paypal and I dont have much negative to say
And got money back when scam
Though sometimes I been after their 180 day and I cant do much
I bought with items and service i have got money back its different for everyone experience
Yoooo always love seeing a new video uploaded
Thank you so much man!