Some interesting news concerning PayPal for those not up to speed:
So this is why my PayPal holdings are down 50% huh
Need to keep on eye on your investments!
And as for them closing 4.5 million accounts, I wonder how many of those have laid dormant for years, most likely because the account holders have long since left this world.
I’ve never really understood the use case for PayPal
A lot of people ended up with them due to eBay
The CS is the worst of any fintech I’ve dealt with and Virtual cards are a better means of paying for this securely. Payment links for receiving payments via another persons card
Exactly that and to be honest, I won’t complain because I’ve had a couple of disputes on eBay due to suspect sellers and their dodgy practices whereby had I not paid by PayPal, I might have had severe difficulty in getting a refund.
I still buy from eBay and I always pay with PayPal.
As for CS, well I’ve only had cause to ever contact them once regarding the ‘Gift Address List’ which they sorted by deleting the entire entries they had harvested from me from all of the websites I had purchased from over the years.
Their mobile App is easy enough to use, but they’re constantly mucking about with it, it’s received numerous updates in the last few months alone.
If I doubt the site I’d use a disposable card and fall back on chargeback for a small sim - over £100 PayPal removes sec 75 protections
I had payment taken by PayPal at a pub with bank account as the funding source (table service Rona days) whereby the kitchen cancelled the order due to not having the item - they refunded via the till and I didn’t receive the money. Pub uses brain tree - a PayPal system.
Their support via chat was useless - like speaking with a brick wall. Delayed the process by giving me incorrect/non applicable timescales. Got it by pestering the pub in the end - wouldn’t have bothered had a there been better things to do.
Had an issue with removing cards or accounts I no longer wanted as a payment option - app cited it impossible due to a pending payment when I hadn’t used said methods in months? Chat copy and pasting false answers - no means of removing it on their end…
Ended up removing the lot by just deleting my account
As for the shares - you can buy on the dip with some loose change but they’re still a bit expensive I’d say. EBay are with Adyen now - and it’s paid to your account via a DD/DC. Will take a while for PayPal to make up for this lost revenue.
Mine’s been dormant for years. Just checked and it’s still open, so they didn’t close mine.
I believe that is not possible any more though.
Me too, although in my case it was part of “verification” that my bank account wasn’t fraudulently held. They asked me to send them a statement proving I was in control of one of my linked accounts, as part of a “routine security check”.
The only problem was, I didn’t find out about it until I queried why my account was blocked and initially they hadn’t set up the relevant portal for my account so the “upload documents” button wasn’t appearing in the place they said it would.
Eventually it was sorted but it was more difficult than it needed to be.
The Financial Ombudsman has recently ruled that in some circumstances Section 75 will still apply when using PayPal
It is because I’m still paying for stuff with PayPal on purchases from eBay. The payment option for PayPal is still there, so I’m not sure when that is going to cease?
It’s useful for low value transactions - their dispute process is faster than chargeback plus they refund refund return shipping costs if the retailer doesn’t for DSR change of mind returns.
You can also use Amex via PayPal if the retailer accepts PayPal at the cost of S75.
You can choose Paypal if you want to