Why use PayPal?

[LeagueRacing]

Just a question really, so many options out there I don't understand why two individuals (not a business) cannot send money without paying a $5.95 fee from either the buyer or seller. With banks using QuickPay and Zelle where you can send money for free, why not use those methods where you also just need an email address.

Everyone I see on here is talking about sending money via PayPal and I just don't get it. Big banks offer the same protections as PayPal so I am very confused. Trying to buy something right now and linked my debit card which is where I noticed that someone has to pay the fee.

Slight rant, thanks for reading.

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[scrubber3]

This should probably be in a different section...

 

[Olivas]

Never used QuickPay or Zelle myself, but do both parties have to have the same bank to make use of these?

In terms of Paypal, the seller is responsible for the fees, however they generally bump up their selling price to cover it.

 

[LeagueRacing]

This should probably be in a different section...

thanks for the insight

With Zelle you can send money to anyone anywhere anytime without any fee. QuickPay is a Chase app associated with Chase Mobile banking but again, no fee's for either side

 

[LiquidFlame]

With Zelle there is no purchase protection. Zelle transfers cant be disputed or reversed, so there's no fraud protection. With PayPal, it's just a more protected way of buying/selling, for the obvious fee you mentioned.

Edit: https://www.zellepay.com/support/im...or-goods-or-services-from-someone-i-dont-know

 

[Austinj427]

With Zelle there is no purchase protection. Zelle transfers cant be disputed or reversed, so there's no fraud protection. With PayPal, it's just a more protected way of buying/selling, for the obvious fee you mentioned.

Edit: https://www.zellepay.com/support/im...or-goods-or-services-from-someone-i-dont-know

This.

It kills me when people ask to "send the money as a gift" which then mitigates any buyer protection from paypal.

Youre paying insurance on the purchase.

 

[serpent]

You have protection using PP friends and family. all you need to do is file claim. You can also base payment using credit card F&F and go thru CC co.to file claim.

 

[Zelek]

PayPal has been doing this before all these companies were even born. It was a requirement in the eBay days of the 2000's. The buyer protection is excellent. I've sent money to friends free all the time because I gift it to them. I never buy a single thing with the gift option.

I still prefer PayPal over many of the other options out there because it's such a huge name and widely accepted.

 

[LiquidFlame]

You have protection using PP friends and family. all you need to do is file claim. You can also base payment using credit card F&F and go thru CC co.to file claim.

You actually do not. See the link below. "Send money to friends or family" is listed under "What's not covered with PayPal Purchase Protection."

https://www.paypal.com/us/webapps/mpp/paypal-safety-and-security

The credit card part I'm unsure of. There are a lot of companies with a lot of different rules so you may very well be able to dispute it that way, but I'm not well versed enough in that area to make any comments.

 

[Zooks527]

With Zelle there is no purchase protection. Zelle transfers cant be disputed or reversed, so there's no fraud protection. With PayPal, it's just a more protected way of buying/selling, for the obvious fee you mentioned.

Uh, no. There are lots of protections for the buyer, but the seller is pretty open.

An example: Someone hacks into another person's PayPal account and buys something using the account information. The seller sees the money show up in his account, and sends the item to the buyer. The money is taken from the hacked PayPal account. The real owner of the PayPal account sees the fraudulent transaction, and initiates a fraud claim. The money is then removed from the seller's account and returned to the hacked account. The seller now has no money and no item.

 

[LeagueRacing]

PayPal has been doing this before all these companies were even born. It was a requirement in the eBay days of the 2000's. The buyer protection is excellent. I've sent money to friends free all the time because I gift it to them. I never buy a single thing with the gift option.

I still prefer PayPal over many of the other options out there because it's such a huge name and widely accepted.

So everyone knows, I attempted both methods.

Gift option requires sender to pay the $6 fee, Purchase option requires the receiver to pay the $6 fee.

I have had someone hack my bank account and send money with Zelle. I called my bank, made a claim and received my money back just as a debit card/Credit Card dispute. Why pay for something when you can get the same service for free...is it just because that is what you are used too or what?

 

[Zelek]

So everyone knows, I attempted both methods.

Gift option requires sender to pay the $6 fee, Purchase option requires the receiver to pay the $6 fee.

I have had someone hack my bank account and send money with Zelle. I called my bank, made a claim and received my money back just as a debit card/Credit Card dispute. Why pay for something when you can get the same service for free...is it just because that is what you are used too or what?

Not sure what fees you're paying, but I don't pay any with a verified account if that is what you're talking about. Non verified accounts is a different story. I have my bank account linked and my most used credit card.


Sending in the U.S.


If you are a U.S. PayPal account holder sending money to a friend or family member with a PayPal account in the U.S., you may pay a fee, depending on how you pay.

Payment method: Fees:

Funded by your PayPal balance or a bank account linked to your PayPal account. Fee is waived.

Funded by a credit card, debit card or PayPal Credit. 2.9% of the amount funded this way, plus a fixed fee (from the table below) based on the currency of the transaction.

https://www.paypal.com/en/webapps/mpp/paypal-fees

Also, using PayPal keeps me from having to sign up on websites and I can buy something in minutes and have my information filled in and pay with the card I always use to pay for things. It's convenient and it works and I've used it for the last 16 years with nothing but success.

 

[Ebm]

It isn't that PayPal is any better. PayPal is widely used because everyone knows about it. eBay uses it so a lot of people know about it. They provide good security, and buyer protection is actually a thing.

Think about it this way, would you rather purchase goods off of Amazon or some random website nobody has ever heard of.

 

[Zelek]

It isn't that PayPal is any better. PayPal is widely used because everyone knows about it. eBay uses it so a lot of people know about it. They provide good security, and buyer protection is actually a thing.

Think about it this way, would you rather purchase goods off of Amazon or some random website nobody has ever heard of.

It's definitely more about buyer protection than anything. If you used eBay in the past, this kept you from receiving a piece of paper with a picture of the item instead of the actual item. Best part too is PayPal handles it all, not the buyer.

 

[sdiver68]

Trust in an established business and buyer protection. Why switch to something else when quite frankly PayPal does everything I want or need?

My wife uses Venmo with her friends because of its splitting feature.

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