I hate what PayPal has become and want nothing to do with them.
But, what payment processor should I be using instead? Venmo is owned by PayPal. Zelle (and Venmo) use Plaid, which accesses your entire checking account history. What's left and viable?
So you give PayPal your bank details to withdraw your balance and they create a direct debit allowing them to plunder your bank account. This is how they operate in the UK anyway.
That's not true. Just two months ago a friend of mine disputed a DD with her bank and they refused to reverse it because she couldn't prove it was erroneous. I'm nearly sure the DD guarantee used to be stronger, but this part now reads:
> If an error is made in the payment of your Direct Debit, by the organisation or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.
This is plainly illegal. Just because it is written in a contract doesn't mean that it will stand up in court. Paypal is opening itself up to major class action lawsuits over this. Liquidated damages are 1) extremely hard to prove and 2) Paypal has to prove that the damages incurred were actually $2500. AG's are going to have a field day with this one.
Do not use PayPal. They will arbitrarily shut your account down for any reason or explanation and can do this [0] to [1] anyone [2] and will never change.
It will only get worse and your business, organization will end up dying in their hands if you go all in and depend on them.
19 comments
[ 4.2 ms ] story [ 58.3 ms ] threadBut, what payment processor should I be using instead? Venmo is owned by PayPal. Zelle (and Venmo) use Plaid, which accesses your entire checking account history. What's left and viable?
[0] https://alignpay.com
I can't imagine how PayPal would incur $2500 costs as a result of someone buying a traveller's cheque.
Maybe I'm just old but it's been 20 years since I last trusted PayPal enough to leave a balance there :)
PayPal is best avoided.
> If an error is made in the payment of your Direct Debit, by the organisation or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society.
So like, if I purchase or rent various movies that depict racism, is Paypal going to fine me or amazon?
For example https://www.amazon.com/Roots-The-Complete-Miniseries/dp/B000...
https://www.griffithdavison.com/liquidated-damages-are-unenf...
It will only get worse and your business, organization will end up dying in their hands if you go all in and depend on them.
[0] https://twitter.com/flipper_zero/status/1567194641610465281
[1] https://www.telegraph.co.uk/news/2022/09/21/paypal-shuts-acc...
[2] https://twitter.com/llsceptics/status/1567658400573448192