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Model Forum / General / Models / May 2008PayPal alert - new policy?
I had an interesting experience with PayPal last night: I trird to pay for some items & when I got to the payment confirmation page, it was trying to fund the payment through my credit card Vs. my checking account (my default). When I tried to change the funding source, I got the following message: "Some payment methods are not available for this transaction. This payment can only be funded with eCheck or credit card". After spending over two hours on the phone with two different PayPal supervisors, all that I can get out of them is that if you are going to make an Instant Transfer from your bank account, you have to have the equivilent amount present in your PayPal balance & must manually select your bank account for alternate payment. It seems that PayPal feels that with an Instant Transfer (and a zero PayPal balance) that they are "loaning" you the payment amount and that they have to wait 3-5 days for the money to transfer to them from your bank. I tried multiple PayPal addressees including online hobby shops that I've dealt with many times & got the same message. Check your accounts guys & gals. dvh : I had an interesting experience with PayPal last night: I trird to pay for : some items & when I got to the payment confirmation page, it was trying to : fund the payment through my credit card Vs. my checking account (my : default). When I tried to change the funding source, I got the following : message: "Some payment methods are not available for this transaction. This : payment can only be funded with eCheck or credit card". Okay, so you were trying to pay for an item via credit card instead of a fund transfer from your bank, right? : After spending : over two hours on the phone with two different PayPal supervisors, all that : I can get out of them is that if you are going to make an Instant Transfer : from your bank account, you have to have the equivilent amount present in : your PayPal balance & must manually select your bank account for alternate : payment. So, what do you care about instant transfers? : It seems that PayPal feels that with an Instant Transfer (and a : zero PayPal balance) that they are "loaning" you the payment amount and that : they have to wait 3-5 days for the money to transfer to them from your bank. Right. So? I understand what PayPal is saying. And, yes, they are right, as far (little) as they go. It rarely takes a bank three days to transfer funds, but, hey, that is what they are allowed, so that is how they choose to operate. : I tried multiple PayPal addressees including online hobby shops that I've : dealt with many times & got the same message. : : Check your accounts guys & gals. I do not see the relevance of any of this. None of this is new or unusual behavior by PayPal from what I can tell. Perhaps you have not concicely stated the problem. Bruce  Signature------------------------------------------------------------------------ "I like bad!" Bruce Burden Austin, TX. - Thuganlitha The Power and the Prophet Robert Don Hughes > : It seems that PayPal feels that with an Instant Transfer (and a > : zero PayPal balance) that they are "loaning" you the payment amount and that > : they have to wait 3-5 days for the money to transfer to them from your bank. > Right. So? I understand what PayPal is saying. And, yes, they > are right, as far (little) as they go. It rarely takes a bank three > days to transfer funds, but, hey, that is what they are allowed, so > that is how they choose to operate. This is common with all banks and lending institutions (especially in this age of quick computer access). They get the money and hold onto it for three days (some banks wait 5) and during that time, THEY get the interest. That might not sound like much on you $20.00 bill, but add it to the BILLIONS of dollars transferred daily and it is substantial. Here'a a true story I was told in computer class back in the late 1980s. A programmer who worked for an international bank found that while accounts were paid to the nearest .01 of a dollar, banks dealt in sums to the nearest .001. As a lark, he set up a bank account and transferred that extra money into it. He was amazed and horrified when at the end of the week, he found that the account had over $100,000 in it. He got greedy (as many humans do) and allowed it to build up. When the sum hit several million dollars, he transferred it, quit his job and left New York City for New Orleans. His crimes (fraud and theft) were only discovered because he closed the accounht but forgot to tell the computer to stop transferring the money. With no account to transfer it it, the computer crashed and his handiwork was discovered. He went to jail and another programmer was hired to plug THAT loophole. my checking account is the default that is supposed to be used if there are no funds in your PayPal account. > : I had an interesting experience with PayPal last night: I trird to pay > for [quoted text clipped - 9 lines] > Okay, so you were trying to pay for an item via credit card > instead of a fund transfer from your bank, right? You misunderstood, I was trying to make a payment via Instant Transfer the system would not allow it. > : After spending > : over two hours on the phone with two different PayPal supervisors, all [quoted text clipped - 19 lines] > days to transfer funds, but, hey, that is what they are allowed, so > that is how they choose to operate. Up until last week, I could do an Instant Transfer to anyone from my bank account. Now I am blocked from using it completely. It defaults to my Credit Card and will not allow me to access my checking account. > : I tried multiple PayPal addressees including online hobby shops that > I've [quoted text clipped - 5 lines] > new or unusual behavior by PayPal from what I can tell. Perhaps > you have not concicely stated the problem. Maybe now you understand. > Bruce > You misunderstood, I was trying to make a payment via Instant Transfer the > system would not allow it. > Up until last week, I could do an Instant Transfer to anyone from my bank > account. Now I am blocked from using it completely. It defaults to my > Credit Card and will not allow me to access my checking account. Okay, try this, the next time that you try to use PayPal, go into the account options link (or change options - I forget what it's called) - it's in the upper left corner over the amount talley. This will take you to the page where you indicate how you want to make your payment. I have been opting for a special Discover Card (which PayPal hates for some reason) that I got strictly for on-line purchases. Change your defaults and go on to pay your bill. Hope this helps you. Thanks but I've tried that already. No Joy. Thanks anyway. dvh On May 24, 5:24 am, "Don Van Hook" <jvanh...@cox.net> wrote: > You misunderstood, I was trying to make a payment via Instant Transfer the > system would not allow it. > Up until last week, I could do an Instant Transfer to anyone from my bank > account. Now I am blocked from using it completely. It defaults to my > Credit Card and will not allow me to access my checking account. Okay, try this, the next time that you try to use PayPal, go into the account options link (or change options - I forget what it's called) - it's in the upper left corner over the amount talley. This will take you to the page where you indicate how you want to make your payment. I have been opting for a special Discover Card (which PayPal hates for some reason) that I got strictly for on-line purchases. Change your defaults and go on to pay your bill. Hope this helps you. > > You misunderstood, I was trying to make a payment via Instant Transfer the > > system would not allow it. [quoted text clipped - 10 lines] > defaults and go on to pay your bill. > Hope this helps you. He is lucky. I have the opposite problem. I like to use my credit card to make Paypal payments (mostly for eBay auctions). But every time I go through the Paypal process Paypal defaults to my bank account for payment. I have to go through several pages of confirmations to change that to a credit card. It is a pain! There is no place where I could change the default payment setting to be the credit card (at least I can't find it). I'm sure that is because Paypal has to pay a fee for every credit card charge. That reduces their profit. BTW, I'm a Premier Member in USA if that makes any difference. Peteski Mine is a Premier membership as well. dvh >> > You misunderstood, I was trying to make a payment via Instant Transfer >> > the [quoted text clipped - 25 lines] > > Peteski : You misunderstood, I was trying to make a payment via Instant Transfer the : system would not allow it. Yes, my bad. I forgot that paying from your checking account is "instant transfer". Ahem. : Up until last week, I could do an Instant Transfer to anyone from my bank : account. Now I am blocked from using it completely. It defaults to my : Credit Card and will not allow me to access my checking account. Well, it is just because you are special, I guess. :-) I had no problems making an "instand trasfer" to the folks at the IPMS/USA National Convention. Perhaps it was using that Discove card? :-) Okay, on a more serious note, your bank was not recently swallowed, was it? Perhaps something changed in the routing number? Bruce Signature------------------------------------------------------------------------ "I like bad!" Bruce Burden Austin, TX. - Thuganlitha The Power and the Prophet Robert Don Hughes |
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