More Pay Pal Red Tape


J

Jeremiaha Austin

North to the Future
Another reason why I don't like or use Pay Pal.

"PayPal recently posted a new Policy Update which includes changes to the PayPal User Agreement. The update to the User Agreement is effective November 1, 2012 and contains several changes, including changes that affect how claims you and PayPal have against each other are resolved. You will, with limited exception, be required to submit claims you have against PayPal to binding and final arbitration, unless you opt out of the Agreement to Arbitrate (Section 14.3) by December 1, 2012. Unless you opt out: (1) you will only be permitted to pursue claims against PayPal on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding and (2) you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis."
 
PayPal has a kind of monopoly.......and its share of victims and detractors. However, thousands if not millions of people use it successfully every day without problems. One of my friends won't put his money in a bank ever again because he had a bad experience once. But he risks robbery when he hides it in his mattress. Life is full of risks.



Mike
 
The agreements always sound pretty creepy to me. Wonder if it is any worse than my VISA debit card? I do not have a real credit card so one of you all will have to tell me if the stuff is similar.

Really I dislike the whole bunch of money changers. Paypal needs MasterCard and VISA to step up and be real ebay competitors to be sure.
 
Jeremiaha Austin said:
Another reason why I don't like or use Pay Pal.

"PayPal recently posted a new Policy Update which includes changes to the PayPal User Agreement. The update to the User Agreement is effective November 1, 2012 and contains several changes, including changes that affect how claims you and PayPal have against each other are resolved. You will, with limited exception, be required to submit claims you have against PayPal to binding and final arbitration, unless you opt out of the Agreement to Arbitrate (Section 14.3) by December 1, 2012. Unless you opt out: (1) you will only be permitted to pursue claims against PayPal on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding and (2) you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis."
Click to expand...

Yo, Clarence Darrow ... this effects you personally how, exactly? Had a big series of class action suits lined up against eBay in your trial lawyer practice?
 
MarkVIIIMarc said:
The agreements always sound pretty creepy to me. Wonder if it is any worse than my VISA debit card? I do not have a real credit card so one of you all will have to tell me if the stuff is similar.

Really I dislike the whole bunch of money changers. Paypal needs MasterCard and VISA to step up and be real ebay competitors to be sure.
Click to expand...

In the real world, this kind of arbitration language is in lot of agreements. Probably similar language in the agreement you ignored when you signed up for the debit card.

MasterCard and VISA as eBay competitors? That doesn't make any sense, sorry dude.
 
I've heard of some difficulty resolving disputes through Paypal and some idiocy regarding charity donations. When my dad's account got to a certain point (some amount of money spent) it wanted all kinds of personal information. He just made a new account.

I haven't had a problem with it yet. I usually try to read user agreements on stuff, but I can't always decipher the legalese.
 
It would be interesting to find out who and what conducts this binding and final arbitration. It would have to be some independent authority, if it were Paypal itself that would constitute a conflict of interest, surely. You can't have a party with a vested interest conducting an arbitration. If it is this way then it behooves all Paypal users to opt out so that their avenues of legal recourse are not subverted.

This reminds me of when Paypal cancelled buyer protection on vehicle purchases because buyers had become much more pro-active in being careful when making purchases and the protection was no longer needed. Reading between the lines, it was really that it was costing their insurer too much and premiums would have to rise.

This new one sounds to me like Paypal doing the old divide and conquer trick on it's customers to prevent or drastically reduce the chances of any class actions being brought against it.
 
Looks like, unless you and a few thousand of your closest friends are planning to sue Paypal, it's a non-issue.
 
Every class action suit I have found I was a party to never resulted in more then a few dollars to the supposed "victims" but lots of money to the lawyers.

So I don't think your typical class action suits are much good to the average consumer.
 
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What was the question Danny DeVito's character asked in the movie "War of the Roses". Something like: What's a thousand lawyers at the bottom of the ocean?

The answer was: A good start.
 
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