PayPal - good or bad?

[sandor111]

2 words - Paypal sucks

[1715090976]

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[1715090976]

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[Leissa]

If you have business and you want to sell goods via internet AVOID PAYPAL!!!!!!

It will work fine some days and when you have some money in your business account they will restrict your withdraw without any reason and you will be not be able to pay your suppliers.

They are very nice and open with those who pay and they will use them money and will not let the seller to touch this money only if they pay a lot of money to them and is some strange personal conditions which can ruin the seller. They can smile using buyer's money!
THIS IS ROBBERY!

I have a business like this, made a PayPal business account and everything was fine 2 weeks. After that when I had more than 10.000 euro in this account they suddenly limit my account and ask about more papers. Was ok , I sent what they asked but after some days when they verified and open back my account they put a limit of $500 for withdraw.

I mention that my business is legally register and I sent the official papers to Paypal.
I use common currency as $, euro and CHF - Swiss Franc.

I have contracts with the suppliers and I cannot keep the terms for paying them because I cannot withdraw my money. This caused serious problems to me.

When I asked about the reason first, they said that my bank limited my bank account. I asked my bank and they confirmed that is not like this.
I asked Paypal again and they said that "of course we limited your account". They lied and put me in a very stupid situation to go to my bank.

Is ok to check out everything to keep safe but this is something else.

Anyway I called and after 1 hour of stupid conversation with some Paulina I found out that "This is our standards" and I have no possibility to talk with somebody who can decide. She will make a request in my name and IF THEY WANT they will send me a mail.

IS VERY SERIOUS! Is about people's money. I cannot pay my suppliers, the shipping company and so on. I cannot register this money and pay the taxes cause I don't have it!

THEY WILL RUIN YOUR BUSINESS!!

No person or private company in this world can keep and use YOUR money without a good reason! IS NOT LEGAL!
They done it without any reason just because they want to do this. And nobody will explain or talk with you!

They will not tell you from the beginning all this things and when you already start can be too late!
Take care and if you think that this will not happened in your case, think twice.
Nobody informed me about this and nowhere I could find this "little detail".

[21after2]

I've never had a paypal account so I wanted to try and get some feedback from the bitcoin community about the service.  I understand how a paypal account can have value and why someone would want to create one.  I've also heard bad things about paypal and how they can be very heavy handed. 

Any constructive replies will be very much appreciated 

PayPal is very convenient because it's a fast and easy way to transfer funds using a credit card which offers the most protection when doing business online in what may be lets say, uncertain situations where there might be more risk of something going. Also you're protected against fraud by the credit card company and PayPal itself to a lesser extent. PayPal also supports multiple currencies so it's convenient and cheap for dealing with buyers/sellers in other countries using other currencies.

But the problem with using PayPal for Bitcoins is two-fold:

1. PayPal doesn't allow its service to be used to buy or sell Bitcoins and they will instantly close an account if they discover you doing that.

2. If you're selling Bitcoins and taking PayPal as payment, there is nothing to stop the buyer making a chargeback against your PayPal account/credit card.

+1 to this post. PayPal is good for what it is. PayPal is not good for BitCoin related endeavors. I've never had trouble with PayPal when it comes to buying and selling (buying anywhere that accepts it, selling on eBay). But they can be strict if you break their rules, and they're not fond of BTC.

[dan9575]

Paypal should give you an option to make a non-reversible transaction, all you need is added protection, like a verification of your ssn and bank info. You'd think that a corp as big as paypal would let their customers have more freedom with their own money.#sarcasm

[happyworld3000]

Paypal is shit 

[happyworld3000]

Paypal is shit 

[bitsource]

I have bad experience with Paypal, and will not use them again. They are fast to freeze money and fast to give back to scammers. Result is that I loose the product I sell and the money - and Paypal will not listen.