[geeks] grr paypal

[Joshua D Boyd]

On Fri, Feb 22, 2002 at 04:48:24PM -0500, James Sharp wrote:
> > Me either; most of the people who complain about PayPal dont realize that
> > its NOT a bank - its a FUNDS TRANSFERRAL SERVICE.  I never leave a balance
> > of more than $50 in my PayPal account at any time.
> 
> Which means its not covered by FDIC...so if PayPal goes into the shitter,
> everyone who has money in their account gets screwed.

What worries me about PayPal is there is no way to use it with out opening 
myself to large liabilities.  Normal online retailers don't make me go through
any agreements before I buy from them, so in theory disputing charges should
be easy.  Even still, I don't buy online with credit card much, and if I am
online, I prefer to go to well known brick and morter stores like JCPenneys 
(cloths for myself).

Paypal on the other hand has a mile long agreement signing away my rights, and
they either require permenant access to my high limit credit card (IE my only
credit card) or my bank accont (which usually has a fairly high amount of cash,
especially for a college student).  I don't feel comfterble trying to do 
business under those conditions.

-- 
Joshua D. Boyd