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I don't believe Pay Pal doesn't make interest on the money they hold. If it is a dime or hundreds of dollars. They are most definately a bank. Customer Service personnel will say anything they think will make you more satisfied. They don't know the banking system anymore than you do. They are like you and me. They applied for a job and that is answering phones with a script to tell them the answer to use for most questions. When they don't have an answer they make one up to get off the phone with you. Pay Pal like all the other banks right now are suppose to be making it easier for us right now. But during these hard times they are making our lives even harder. The banking industries greed is equal to the greed of all these mega corps where the CEO's pay themselves millions of dollars to do a job that is not equal to what they earn. We are all their minions if you like it or not. I would think also that another Bank should see that Pay Pals business is there for the taking. We are all fed up with their unethical practices.
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Pay Pal charges a fee like Western Union does to send money. A certain amount for every hundred dollars. It is quite suprizing to find this out the hard way. And their fees are unforgivably high considering how many customers they get money from everyday. They are a bank that doesn't take any losses either, so the profits they make with their service are mind boggling I am sure. . So you need to find out what they are charging you so you will know how much is "available" Or: I haven't found out yet but it would probably be better to set up a bank account for your charity that is set up as an account in pay pal. Then you just transfer the money to that account and send a check to whom you owe it to. I just request money from a sale be put in my bank account. I am waiting to see if I am goint to pay a fee. The buyer had to pay them 9.00 on a 125.00 purchase. So it cost him 134.00 Dollars total for the purchase because he paid me through Pay Pal.
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Thank you Sukmukdik007, I am sure there are more horror tories out there. Hey, anyone who has been wronged let us know. That way we know more how to protect ourselves.. I know that Pay Pal has a great service that is suppose to protect us. But at what price? It is like are paying the Mob protection money? thanks everybody. Have a good Holiday.
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How many other pay pal users are fed up with the outrageous fees paid by the buyer and seller to pay pal? Please let me know. I would like to start a movement to ask paypal to lower its fees or look for another bank that would love to have our business for a lot less. Reason: I sold a jacket for 125.00. Pay Pal charged my customer 9 dollars and charge me 3.93. That is 12.93. That equates to 12.5 percent. Its is like getting the same amount everyday that a Wall Street CEO gets a year for a bonus. Dosen't anyone else think this is outrageous? Its as bad as the fees that banks/credit card co. collect that makes the interest rate your actually paying more than a pawn shop or worse. Please let me know if you are sick of it. Thank you shevykatatyahoodotcom
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