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Disadvantages of PayPal
Saturday, May 1, 2010    7:40 pm

PayPal is a very popular mode of online money transfer and has millions of people using it worldwide, but it is rightly said that “everything which glitters is not gold”. The same goes for the PayPal service. Even though it’s used all over the world, it has certain backlogs. Following are the disadvantages you might have to bare if you decide to use the PayPal service:

  • Fraud cases are vulnerable to take place while using PayPal. You might end up with a frozen account or loss of money. Sometimes the funds are returned to the sender even after the items have been shipped to the buyer. Such a situation occurs only if the email address used to pay the amount seems fraudulent to PayPal. People take advantage of this and succeed in getting the goods they want along with the money refunded back to them.
  • Though PayPal charges no fee when you register for it, but the fees charged during each transaction is quite an amount. It is calculated as a percentage of the money you receive online. You have to pay EBay also if you are hooked up under them too. So the fees just go on adding up.
  • The service provided to customers is very poor. Numbers are had to get and the replies to emails are almost always automated. Problems are never resolved where PayPal is concerned.
  • The verification process is very time consuming. If you do not possess online banking then you might have to wait for weeks after which your mail receives a bank statement.
By: admin