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[Ken T]

I got caught recently with a fleabay auction, that was supposedly covered by Paypal's garantee. This didn't happen, I was going to be out of pocket, however my Daughter mentioned  the Financial Ombudsmen Service, http://www.financial-ombudsman.org.uk/default.htm and guess what Paypal have signed up to this, even though they have relocated to Luxembourgh, to quote the FO "when PayPal relocated from the UK to Luxembourg it elected to remain covered by the ombudsman service on a voluntary basis, in order to maintain the confidence of its English-language customers throughout Europe".  So if you have a problem with Paypal, you might like to just mention the Financial Ombudsmen and how they have agreed to be covered by it, in your communication.    Its nice to have a suitable Name to drop in to a conversation  

Ken

[HolyCount]

Useful bit of info -- please thank your Daughter on behalf of those rooked by Paypal  

[Ken T]

She was in the financial industry, and is not very complementary about Banks. She said that when complaining to a bank, people who mentioned the FO and indicated that they had read it and understood the code usually got higher payouts from the financial institution concerned.

Ken

[albitz]

ive been told that ebay are going to make it compulory to give buyers the option of paying by paypal. :-/

[Kevin Wood]

That's going to upset a few people who won't touch Paypal with a barge pole.

Still, if Paypal can be kicked into line maybe some good will come out of it.

Kevin

[HolyCount]

ive been told that ebay are going to make it compulory to give buyers the option of paying by paypal. :-/

They already are on many items -- and increasing the coverage to all soon  
Bit of a con really -- they will then be effectively paid three times for the same item: Listing it, selling it and paying for it !!!!!

[albitz]

barstewards

[mkaminski100]

I'm new to PayPal and was surprised for the second time. I wanted to buy something on E-Bay. Was advised by a friend to register with PayPal and confirm my details (bank details, address etc). So I did that, and read that any payment is transferred immediately on sellers account. I thought that when my bank details are verified (not a fake), PayPal will lock that amount on my bank account (same as paying by card - instant) and funds will be transferred (or assured) on sellers account (by the time the transaction is cleared).
I WAS WRONG! I had to wait more than 10 days for PayPal to deduct money from my bank account  into PayPal, clear the transaction and send it to seller.
I dont want to keep any money on PayPall account as I dont pay this way very often.
My friend told that it might be just one off transaction and next time it will go smooth. So I tried once again and guess what? I bought a straightener for my wife on 5th of April and a PayPal transaction will be cleared on 15 of April!! 10 days to transfer the money?

Is there any way to avoid such situation in the future and make instant payment by PayPal?

[Ken T]

I have just emailed paypal re my dispute, reminding them that they are governed by both the Financial Services Authority and the Financial Ombudsmen, so we'll see if that obtains a correct response. Out of interest, did you know that the Banks have agreed promised to abide by a new banking code http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=145&a=13130 . If they loose the test case over unfair charges, they will be hammered. I wonder if we can take Paypal to the FSA/FO, some people have lost a lot because of their misshandling. Someone sent a Network tester over to Italy, the buyer claimed he didn't receive it, and got a charge back. Now if enough people claimed against Paypal, they would have to refund out of their profits, not against the fraudulent buyers, so they might have to change their method of doing business.

Ken

[albitz]

I'm new to PayPal and was surprised for the second time. I wanted to buy something on E-Bay. Was advised by a friend to register with PayPal and confirm my details (bank details, address etc). So I did that, and read that any payment is transferred immediately on sellers account. I thought that when my bank details are verified (not a fake), PayPal will lock that amount on my bank account (same as paying by card - instant) and funds will be transferred (or assured) on sellers account (by the time the transaction is cleared).
I WAS WRONG! I had to wait more than 10 days for PayPal to deduct money from my bank account  into PayPal, clear the transaction and send it to seller.
I dont want to keep any money on PayPall account as I dont pay this way very often.
My friend told that it might be just one off transaction and next time it will go smooth. So I tried once again and guess what? I bought a straightener for my wife on 5th of April and a PayPal transaction will be cleared on 15 of April!! 10 days to transfer the money?

Is there any way to avoid such situation in the future and make instant payment by PayPal?

i thought it was instant  

[Ken T]

I'm new to PayPal and was surprised for the second time. I wanted to buy something on E-Bay. Was advised by a friend to register with PayPal and confirm my details (bank details, address etc). So I did that, and read that any payment is transferred immediately on sellers account. I thought that when my bank details are verified (not a fake), PayPal will lock that amount on my bank account (same as paying by card - instant) and funds will be transferred (or assured) on sellers account (by the time the transaction is cleared).
I WAS WRONG! I had to wait more than 10 days for PayPal to deduct money from my bank account  into PayPal, clear the transaction and send it to seller.
I dont want to keep any money on PayPall account as I dont pay this way very often.
My friend told that it might be just one off transaction and next time it will go smooth. So I tried once again and guess what? I bought a straightener for my wife on 5th of April and a PayPal transaction will be cleared on 15 of April!! 10 days to transfer the money?

Is there any way to avoid such situation in the future and make instant payment by PayPal?

It looks as if you are using E-Cheques to pay, not instant bank transfer, or a credit card. Both these latter methods are virtually instant, however they sometimes go bad. You can set up which method you want to use for payment. Paypal obviously prefers E-Cheques, cause they got your dosh for a while, and don' t like credit cards cause they got to pay a fee, and the credit card CO handles complaints properly, unlike Paypal.

Ken

[HerefordElite]

I'm new to PayPal and was surprised for the second time. I wanted to buy something on E-Bay. Was advised by a friend to register with PayPal and confirm my details (bank details, address etc). So I did that, and read that any payment is transferred immediately on sellers account. I thought that when my bank details are verified (not a fake), PayPal will lock that amount on my bank account (same as paying by card - instant) and funds will be transferred (or assured) on sellers account (by the time the transaction is cleared).
I WAS WRONG! I had to wait more than 10 days for PayPal to deduct money from my bank account  into PayPal, clear the transaction and send it to seller.
I dont want to keep any money on PayPall account as I dont pay this way very often.
My friend told that it might be just one off transaction and next time it will go smooth. So I tried once again and guess what? I bought a straightener for my wife on 5th of April and a PayPal transaction will be cleared on 15 of April!! 10 days to transfer the money?

Is there any way to avoid such situation in the future and make instant payment by PayPal?

i thought it was instant  

same here - remember when i first signed up to paypal they deducted a couple of small amounts from my card and the value of which were the password to verify new account, perhaps tjis is why it's taking a while :-?

[Vamps]

iirc Debit card is instant, once account set up but credit card takes time.
I only use pay pal and payment is instant, you can see the transaction by looking at your account.

[Debs.]

iirc Debit card is instant, once account set up but credit card takes time.
I only use pay pal and payment is instant, you can see the transaction by looking at your account.

Paypal is instant when funded with a debit-card.....however, if funded from a bank-account/credit card then it`s called an eCheque and they take ages to transfer.
I believe it 'could' be instant but the wonderful 'Clearing Banks' make things difficult for Paypal to work such transfers quickly.  

[Ken T]

iirc Debit card is instant, once account set up but credit card takes time.
I only use pay pal and payment is instant, you can see the transaction by looking at your account.

Paypal is instant when funded with a debit-card.....however, if funded from a bank-account/credit card then it`s called an eCheque and they take ages to transfer.
I believe it 'could' be instant but the wonderful 'Clearing Banks' make things difficult for Paypal to work such transfers quickly.  

There is an instant bank transfer available. At our business, we have 3 options, Instant Bank, E-Cheque, and Credit card. They don't like credit card, and give us an extra page reminding us how safe using bank transfer is,  which we promptly ignore!  

ken