(Topic ID: 243824)

Here we go again PayPal friends n family

By tp

4 years ago


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    “Here we go again PayPal friends n family”

    • Yes 21 votes
      16%
    • No 70 votes
      55%
    • I'd do it 37 votes
      29%

    (128 votes)

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    #26 4 years ago

    No PayPal for large payments. Zelle is a better choice, but daily amounts are limited. Cash is king.

    #38 4 years ago
    Quoted from Rdoyle1978:

    Having just had to do this, I am super grateful to a certain Pinsider who trusted me to do a bank transfer for this. Those can’t come back. But your bank will usually hold the funds until the next business day, and I believe my bank didn’t even send the request until that day too.
    PP friends and family may have a limit, Zelle SUCKS, and there’s a reason people want cash. He should have done his research, just as I should have.
    My recommendation is to ask him to post the details (not the amount), who he is, what happened, why he’s asking to do FF and have some of his buddies back him up publicly.

    What's wrong with Zelle?

    #57 4 years ago
    Quoted from PinballSTAR:

    I will tell you a little story about Paypal and how heavy handed they are. I had some people paying me as a gift even though I didn't ask and at one point Paypal got wind of it (large amounts is a tip off to them) and they FROZE my account. I had maybe $ 20,000 in there from business transactions and they told me 'if you want your money build your account up to 100,000 and then you can withdraw OVER that amount'... lol ya right... WELL, it literally took me a month to BEG and I mean BEG them to get them to release my funds to me. And frankly the only way they did it is they looked back at my history and saw some funds coming in for my children's hospital game donation charity and they asked about it and I explained what I had done donating 5 WOZ's to hospitals. I think the person I was dealing with just then felt a soft spot and lifted the freeze. BUT they took the gift option away from my business account AND my personal account as well. So... If you want your money DON'T use F&F - it's clearly used to avoid paying them their fees they honestly do deserve and if they catch you trust me it's not fun. If you're sending $ 20 here and there ya, but if you're sending 1000's then be prepared to be flagged and at some point called to the carpet. I will add there is no reasoning with them no matter how much you beg - they have you over a barrel and pretty much tell you so. Imagine putting your money in a bank and not having your bank give it to you when you want it.... THAT's what it was like... Wasn't fun. I need them for my business so I had to agree to anything they demanded. My advice, don't do it. This is probably a reason nobody would think of unless you were in my shoes. And the whole dispute thing as well - all your buyer has to do is get home and say a rubber is worn and he didn't get what paid for and BOOM, your money will be frozen while you fight a dispute.

    This is why Zelle is better, no fees for either side, it’s as good or better than PayPal f&f, once it’s sent, its your money, no chargebacks. The only drawback is the first time you send money, it takes three days for the other party to receive it. After the first time, its instant. All you need is a phone number linked to your bank account. Limits vary by bank, but you can send at least $1000 per day.

    #71 4 years ago
    Quoted from Radagast:

    Some people (including me) don't really have an easy way to get large amount of cash. The only bank I use is an online bank so I have to take cash out of the ATM $400 max per day. It's a real pain in the butt for me to rustle up a ton of cash - Paypal or Venmo is way easier. Also, in the Magic: the Gathering world, which is my other main hobby, everyone uses paypal all the time, so it's always surprising that pinball folks don't trust it. Lots of people say cash is king, but I say reputation is king. Just make sure you vet the person you're doing business with and you'll be good no matter what.

    You should open an account at a local bank so you have access to cash. Online banking has its advantages, including higher deposit rates, but having an account at a local bank, regardless of the interest rate, gets you physical cash when you need it.

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