Subject:
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Re: Can we all agree to do eCheck payments with Paypal and not CC?
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Fri, 3 Nov 2000 03:43:06 GMT
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Viewed:
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370 times
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Paul Sinasohn wrote:
> The problem I have is that PayPal places an unreasonable hold/delay on funds
> wired in to them. Wired moeny is already in their hands - it has been sent via
> the Federal Reserve system from my bank, and thus they have no excuse for
> delaying the credit to my account. • ...
> But it DOESN'T cost me nothing - it costs me $42 to wire funds to them, or 33
> cents to send a check, PLUS the interest I would have earned in my money market
> account. PLUS the hassle of having to track another set of transactions and
> maintain another balance. PLUS the time the money sits in limbo before they
> release it to me.
Why are you WIRING them money? If you verify a checking account with
them, they will make a draft withdrawal from your checking account (and
I have yet to hear of a bank charging for that). They also place a hold
on your credit card to speed up the processing (I'm not sure how they
are working that because it sounds like the money isn't immediately
released to the seller).
Frank
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