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Thread: How is it legal what PayPal does?

  1. #11

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    3 weeks is excessive for sellers who have proven themselves with an excellent track record and experience selling. I think Paypal is mainly making money off of their equally excessive fees for the most part. The wait times for payment processing are a bit much but are probably not a huge factor in their profits, just an inconvenience for buyers and especially sellers.

  2. #12
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    Its legal because they write it down in small letters in the Terms of Service. Is it just? Probably not.

  3. #13
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    Some of it is not. However, they do their best to try to accommodate their customers. People sometimes don't give them enough slack.
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  4. #14

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    1. You're moving 10,000 dollars out in one lump sum - where did you get 10,000 dollars from? It might seem obviously legit to you, but for a lot of people that seems really weird. So of course you got flagged for it.

    2. It's in the TOS which you agreed to when you signed up for the service. Them is the breaks.

  5. #15

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    This is fairly standard practice when you are dealing with purchases of thousands of dollars.

    I've had this happen to me a number of times when I was cashing larger checks at my own banks. They would put a hold on my access to the funds for several days up to a week and a half. They even did this with an income tax check I got, which I later found out was illegal for them to do since the money is guaranteed by the state.

    It's likely to protect the customer. What if they found out a few days later that you had sold them stolen merchandise or otherwise defrauded them in some way?

  6. #16

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    It's legal because those things that you just talked about were agreed upon by you the moment you agreed to the ToS. This won't be the last time a business decides to employ lawyers to draft a complex, drawn-out tos in order to screw the consumer but that's just how it is.

  7. #17
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    Quote Originally Posted by canoe View Post
    It's legal because those things that you just talked about were agreed upon by you the moment you agreed to the ToS. This won't be the last time a business decides to employ lawyers to draft a complex, drawn-out tos in order to screw the consumer but that's just how it is.
    Agreed. However, there are things that are actually ILLEGAL. This doesn't mean that you stand much of a case, however, considering they have 1,000s of lawyers at the ready.
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  8. #18
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    They totally make a ton of money from fees and using our money that is on hold to make interest. I think the government needs to step in and put some regulations on paypal. I love how the government loves to regulate everything, but not this giant.

  9. #19
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    Quote Originally Posted by sillylucy View Post
    They totally make a ton of money from fees and using our money that is on hold to make interest. I think the government needs to step in and put some regulations on paypal. I love how the government loves to regulate everything, but not this giant.
    Welcome to capitalism lol.
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  10. #20

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    It is among their policies, make sure that you read their policies and understand them before you can start using their services. They never have respect for a customer loyalty.
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