Hi all,
  Well, I had a horrible shock with PayPal today. 
It used to be the coolest thing since sliced 
bread. I recommended it to everyone, I had it up 
in my eBay auctions as an option for payment and 
I even suggested it over sending a money order.
  Well, the day of reckoning has come.
  First off, a few weeks ago I paid of a large 
cel payment, and I used up my "credit" limit with 
PayPal. In order to spend money, I now have to 
wait 5 days to transfer money up into my PayPal 
account. This is bad because I often see 
something on Yahoo Japan that I want and I will 
write Celga and ask him to bid on it for me. He 
takes PayPal for the initial payment, and I have 
to wait 5 days to get enough money up there to be 
able to pay him :( ! I guess I could put like 
$1000 up there and whittle it down, but then 
PayPal is gaining interest on MY money, it's not 
in my bank account where it should be, and quite 
frankly I don't like having $1000 sitting out on 
electronic-money-ville.
   Next, I noticed that although it takes 5 days 
to get the money in your PayPal account, they zap 
it out of my Bank Account almost INSTANTLY. 
Therefore, they are sitting on my money for 5 
days before I can have it *grr*.
   The next problem happened today. Someone was 
sending me money to pay for a large order of 
cels, he sent me $580.00. PayPal sent me a 
message saying it could NOT let me have this 
money. It said that I now have a limit of $500.00 
that I can accept from credit cards. YES, 
$500.00. That's it. Not for one payment, but 
TOTAL. Therefore if Fred sends you $50.00, Ginger 
sends you $250.00, and Bob sends you $200.00 you 
are done. You have received your LIMIT in Credit 
Card payments. And it takes 6 full months for 
this to regenerate!! 6 months....!
    So, PayPal told me that if I wanted to be 
able to accept the $580.00 payment, I would need 
to sign up for their premire account. Oh goody. 
That means that I pay, per payment I accept, 
$0.25   1.5%. So, even though my friend was 
paying me $580.00, I would have only have 
received $571.00.
    That adds up over time. Imagine if you had to 
start adding those fees to people who win your 
stuff on eBay or buy stuff from you (or if you 
are buying it from a PayPal seller). Then you are 
paying for the item the: 1. price of the item, 2. 
Shipping/Insurance, 3. The PayPal fee. For 
shipping and PayPal for a $500.00 item you could 
be paying over $20.00 extra.

That adds up!

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