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BananaMan111

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Member since:03.01.2004

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A pal for life?

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06.01.2005

Advantages:
A great tool for E - bay buyers and sellers

Disadvantages:
Fee's are at every corner and mount up .  A prime target for fraud .

Recommendable Yes:

25 Ciao members have rated this review on average: very helpful See ratings
exceptional by (27%):
  1. meggyloo
  2. scuba_angel
  3. Scarlet_Ribbons
and 9 other members
very helpful by (73%):
  1. camille
  2. VC81
  3. Gingersnap60
and 30 other members

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Paypal is a great online web site and money management tool that is a must have to go
along with your E-bay account. It speeds up processes for both buyers and sellers on E-bay, plus there are possibly thousands of web sites that now except Paypal as a payment method. If you're not already a member of this great site and you are an active participant in online auctions, this is for you. You must have seen the Paypal signs and logos on the site!

I have written about my experience with Paypal.com and the web site Paypal.com as a
web site that includes design and navigation etc. I've have explained what I use Paypal for and hopefully it matches your requirements and will want you to use this service. Even with all the great points of this web site, it has it's fair share of bad points, I've highlighted the most important below.

My Experience with Paypal.com
***********************************

-- First Contact --

I first found out about Paypal through E-bay.co.uk and noticed that a lot of auctions were using a payment method called Paypal. I saw an item that I wanted to buy and saw that the seller only accepted Paypal which meant I had to join up to
Paypal to be able to pay for the item.

-- What do I use Paypal for? --

I have used Paypal for paying for auctions and non-auction goods and receiving money from items I have sold. I find that Paypal is great for me being a buyer and seller as it speeds transactions up, I started buying from auctions using postal orders and cheques. Which meant you had to send the cheque to the seller, they
waited to receive it, then waited for it to clear and then they would despatch the item and then I would have to wait for it to come. With Paypal, you pay by credit card, the seller receives the payment, and then they send the item straight
away. Cutting the receiving time down, it is unbelievable and I recommend it.

As a seller, this helps me as well. I can receive a payment straight away and I can send an item quickly. I don't have to wait for cheques to clear or go and cash postal orders. The funds I receive can be transferred directly into my bank
account.

-- Sending money --

When I win an auction I use the links in the auction to pay by Paypal by following the on screen instructions. When I buy a non-auction item, I quickly fill in all the information in the send money tab of my account page (more explained later)

-- Receiving money --

I'm a keen seller on E-bay and this is where I receive my money. The buyer processes
the transaction their end and the money that they send is added to my Paypal account balance.

-- Retrieving funds --

I can process the money in my account page that is found on Paypal by sending to my bank account. You follow the on screen instructions and it requires that you add your bank details to your account page and then the money is
transferred into your account within five working days, the money has always made it into my account on time.

-- Fees and Limits --

The fees of Paypal change all the time but I find that there are fees to make upgrades to your account, to become a verified member you have to pay a small fee. The transfer money into your bank account you can be hit with some small
fees. Any payments that are excepted through Paypal have a percentage taken from the
company. The web site has the very latest fees and costs that you might have. So it is worth researching this information before hand.

-- A word of Warning --

Paypal is a great hit with Phishers, users of the internet who try and gather credit card and other information etc by illegal means. The term comes from the word fishing as they use bait to try and gather your information, the bait in
this case being e-mails that ask you for your details. Examples of e-mails include ones that ask you to log in to your account through the e-mail by a form that is included, only to fill in the forms and then your details are sent to another web site and logged so that can have your log in details. The most recent and newest e-mail tells you that you details and credit cards need updating and asks you for all your information.

NEVER FILL IN ANY INFORMATION FROM LINKS IN E-MAILS THAT CLAIM TO BE FROM PAYPAL. ANY ACTIVITY LIKE UPDATING INFORMATION CAN AND MUST BE DONE THROUGH PAYPAL, BY GOING TO PAYPAL.COM. NO MATTER HOW REAL THE
E-MAIL OR LINKING WEB PAGE LOOKS. LOG INTO YOUR ACCOUNT THROUGH THE WEB SITE AND ANY PROBLEMS WILL BE LISTED THERE!

This is one of the worst points about Paypal, it has become so popular by experienced and newbie Internet users that it is a web site that is a targeted very often. Please remember the above statement in bold. It is easy to do, I have done it with an E-bay account of mine, I filled in the form in an e-mail and noticed that the form connected to another web site before connecting me to E-bay and logging me in. If I wasn't paying attention, they could have had my entire log in
details and have caused some damage. If asking for log in details catches you out, change your password.

The Web Site, Paypal.com
****************************

Here is the part of my review that covers paypal.com's web site as a web site, for example the navigation, design and ease of use.

-- Design --

Paypal.com features a great professional design, it is shades of blue with a white
background. It is actually quite plain, but works very well. Everything is clear with the blue and black text. The scripts that control all the
transactions must be some of the best programmed as you are assured that the web site is secure. The design has recently been updated with a log in option on the main page where you can enter your details.

-- Navigation --

Navigation is very simple and easy to use. In the top right hand corner there are three links, sign up, log in and help. The main navigation of the web site is done with tabs, which you click and extra links appear below. A great navigational system, everything is easy to find and access.

-- Help Files --

The help files are great, but when a web site like this (I mean one that handles your hard earned money) you want it to have all the relevant information at hand and in terms and definitions that we can all understand. The help files are
clear and concise. You can search on any questions you have and it lists all the matching queries from there database, I have found this very useful and every question I have ever needed answering, has been answered.

--Once have your account --

Here I have outlined the main features in the account page which are probably the most used so it will give you can idea of what you can do. There are so many different features and a lot need some special attention to understand how each works. I've been using Paypal for about three years and I think I've got the hang of
it now, but there are still things I haven't had to use.

There is a My Account tab which shows your account balance plus your recent activity,
plus lots of other tools which are worth checking out and using. The Send Money tab gives you links to do such the thing and same with the request money. There is so much to write about on these tabs, so I've outlined them and you can join the web site and see what else
there is. The Merchant tools is for users that run web sites etc and Auction tools are tools for your auctions, I've highlighted some in the next section of the review.

-- Other Features, worth a mention --

I was given a bonus from Paypal and it was the equivalent to £1.05, which was the cost of upgrading my account to be a verified member. So it's not really a bonus, it's more like getting your money back on a feature that costs you to take the limits off your account. Which is a con. You can become a verified member by paying a small fee to paypal and then on your credit card statement you are given a transaction number, you have to enter some of the digits of the number into your Paypal account and you become verified. It proves that you are the owner of the credit card. Handy, but you have to pay.

You have limits on your account of what you can send to other members and what you can withdraw into your bank account and the only way of lifting these limits is to activate your account as a verified member. The limits are quite high and change all the time, the web site will let you know what the current limits are.
There are choice of opening accounts that do different functions and it is free to open an account.

There is an option to automatically update any auctions that you have running with Paypal logos so that bidders know that you except Paypal to speed up transactions. I've used this feature before. But find that sometimes it makes your
item description hard to see when you only have a small description.

Conclusion
**************

Paypal is excellent for speeding up transactions on E-bay, especially for buyers, it is so quick and easy. But when you're a seller, it speeds things up for you too but the fees can amount up. Once you take into account your listing fee and final selling fees at E-bay and then the percentage that Paypal takes, a fair chunk of your profit can be missing. At least with Paypal you don't have to wait for cheques to clear or to arrive. A
payment can be taken automatically which is a big weight off a seller's mind and it sits in your Paypal account until you transfer it to your bank account. This can take up to five working days, but the money is received and waiting.

The best place for Paypal information is at their web site and along with my experiences you can see how well this can work for the right people. The web site is very well designed and all the information is clear and well presented. I've
written about the main points in this review but for more information, the web site is your source!

Paypal is very easy to use, the only thing that is difficult is that you are worried to make a mistake and loose money by sending too much. A good thing about when incorporating E-bay and Paypal is that when paying for item, you can go
into your E-bay account and look at the items you have won and you can click on Pay now button. All the amounts are automatically worked out and calculated you just need to follow the instructions to make the payment. Very easy to do. When you want to send money to a person or web site that accepts Paypal but it is not an auction payment, you click on the send money tab in your Paypal Account. You have to enter the receivers e-mail address that they use on Paypal you just need to go through selecting a few boxes and entering some information and you click on send. If you the person on the person on the receiving end, this is a very quick and easy process for you.

I've had experience of both sending and receiving money and paying for both auction
and non-auction transactions and they have all gone smoothly and I will continue to use Paypal for a long time to come. It is unbelievable the amount of people that use Paypal and it very, very popular. Follow the trend! It is ideal for
buyers and sellers.


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Comments about this review »

ilusvm 06.02.2005 18:01

never used paypal. Em x

martint1983 20.01.2005 22:15

Fantastic review nice one mate

purplelynne 19.01.2005 21:09

Very helpful review, I think you covered everything! Lynne x

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Review Ratings »

This review of PayPal has been rated:

"exceptional" by (27%):

  1. meggyloo
  2. scuba_angel
  3. Scarlet_Ribbons

and 9 other members

"very helpful" by (73%):

  1. camille
  2. VC81
  3. Gingersnap60

and 30 other members

The overall rating of a review is different from a simple average of all individual ratings.



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