3717 said:
I don't understand how this is possible in these modern times when 99% of unsolicited emails are scams and plenty of facebook ads are scams, I think ebay is a little safer though, but I always look for sellers with a long trading history and good feedback.
I don't know how paypal works.
So you can buy anything from any scam and if it doesn't turn up they refund you??
How on earth do they make money?
To join PayPal you have to give them access to a transactional account, credit card or an actual banks account.
They deposit funds into that account if you are a seller, and take funds out of it for the seller, if you are a buying something.
They can also act as a bank by holding funds in an escrow account in your membership.
At each end of any transaction they take a small percentage, and acting as a financial escrow agent for transactions they offer a type of 'satisfaction' guarantee to buyers,
and also to sellers.
However as most of these systems are, they are biased to the buyer, buyers spend their money thru PayPal, they are the cash cow.
BUT if they detect you are abusing the system, they will kick you out.
As such they used to have some power over BAD traders on Ebay when Ebay and Paypal were joined, but now as separate entities Ebay does its own thing BUT Paypal
has a wider market to play in, and after some teething seems to have grown substatially.
I have NEVER really had any issues with Paypal, their user interface has improved, their customer support to Buyers has improved.
I NEVER buy anything from online without using them, just a good cheap insurance against fraudsters.
From memory, paid membership to this Website also uses them, it automatically sets up a yearly payment from your Paypal account, (its a default in Paypal for these types of memberships)
but as anyone can, I disabled it via Paypal because I like to know what I am paying and when I am paying it.
Frankly I think Paypal is a good thing.