Paypal Money Laundering

Two years to implement Money laundering policy

Just recently a colleague, has attempted to withdraw their money from paypal, only to discover that paypal refused to let them withdraw the money.. The reason was that they had implements the 2007 money laundering policy for australia and they had to prove who they were.

The fact that they are registered as a business on paypal and have over 2000 transactions on ebay and they have been using ebay now for three years seems to have been lost on paypal. 2 years ago ebay/paypal informed the ATO that they were condicting business on paypal and that the income was over the $50000 for the current financial year....

now apparently they need to truly confirm that they are the business they have registered and that the person they informed the ato about is truly themselves...

This is just another grab to keep the money by paypal and earn some money on the short term money market.

However this is really the colleagues fault as he allowed the money to build to a level of several thousand dollars before withdrawing it... Normal practice was to withdraw the money at the end of each day. unfortunately he left is several days and paypal got him.....

take back control and do not use paypal any longer, the stories like this are very common and should not surprise anybody any longer...

use paymate as an alternative

$20,000 ebay protection

ebay Buyer Protection

is not worth the paper it is printed on. During the April 2008 campaign by ebay to introduce paypal as the only payment method, ebay announced that their buyer protection will be upped to $20,000 and this is a good thing for buyers.

Critics at the time pointed out who on earth pays with paypal for such large items and surely you would use an alterneate method to sell such an expensive item..

Many would also argue that the paypal fees on this would be so so high and not forgetting the ebay fees, approximately the fees would be approaching $1000. Surely you cvould negotiate with the buyer on payment methods if you were going to sell such an expensive item.

A friend has recently sold a SPA on ebay, it ORP was around $30,000, and started the bidding at around $10,000. The insertion fee was not as bad as one would think, however it was the final value fees where ebay finnally started to get their claws into this buyers money...Several hundred dollars later, the item was sold and the seller was discussing with the seller on payment methods.

As a friend we warned the seller not to accept Paypal as a method of payment and that cash on pickup should be the only option. Paypal was selected and the fees associated with this were an addition $460 to paypal and feebay.

The clincher was that it was not possible to send the full invoice to the buyer and that two seperate invoices had to be sent to the buyer, meaning that the buyer would not be covered for the full amount, the maximum being only $10000...

so much for the ebay buyer protection... only one claim per item... ha ha all clever ebay sellers now start to send two invoices, this way the buyer can only get some money back or alternatively the second invoice could be for the postage and handling

Free Photos from eBay

collectors, art and truly rare

overjoyed by the announcement that ebay has now made the second and subsequent photos free in select categories, ebay sellers start torush back thinking oh wow i have never had the option of a free photo before, now I can spend even more time on a ad so that ebay can collect more money from me. Since learning that the pass in rate is gigher than 60% and that ebay with paypal take close on 60% in fees
and for those who have not realised this is higher than any other auctioneer commission and higher than the highest tax bracket and for ebay it kicks in right at the very beginning so there is no tax free threshold on ebay.



Candence daugherty ran the experiment and found that after her time was taken into account, the cost of the original items and the paypal fees and ebay fees then the hourly rate was reduced to just $2.76. this is american money so for those in australia this is equivilent to $4 per hour....

The Truth

Why does ebay not tell the sellers that it is possible to have their second and subsequent photos free for as long as services such as photobucket.com have been around. Are there truly so many new ebay sellers that they are no aware of these services. Perhaps this was the reason why ebay banned ebooks 18 month ago, to keep people ignorant of the alternatives to ebay and the higher charges.



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Ebay Censorship

Discussion boards Censored

in addition to the censorship by the pinks, where they (the pinks) censor each and every post which shows ebay in its true(read bad) light. Now Ebay want to remove all non ebay related discussion boards, namely the chin wag area.

The chin wag area is an area of support within the ebay community where by ebayers (buyers) can get advice and support from the community at large. For some people this is their only outlet and connection to the outside world. It helps these people connect and socialise in a digital world forming friendships and getting to know the other community members.

Ebay Buyers upset

ebay did their best to get rid of many buyers through all their policy changes, particularly the policy where sellers can no longer leave negative feedback, forcing paypal onto sellers and more. Now by taking away the chinwag, buyer will no longer have a place of discussion.

What is next by ebay, total censorship of the whole ebay environment where you can only talk about ebay in a positive manner otherwise you will have all your listings pulled..

join the fight and sign the ebay petition


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