PayPal experiences??

[zacharken]

Hi,

I'm looking into renting and transferring out points. I have some level of comfort with renting as far as recourse from non-payment.

However, my concern is with transferring. I understand that once I transfer points into another's account that it is irrevocable.

So I was reading about PayPal, which acts as a 3rd party "collector".

Can anyone share their experiences with Paypal?

Is this a viable option for transferring points. I understand that there are no guarantees from being ripped-off, but at least it seems to give a little level of comfort.

Also, if you have rented out through PayPal, is having a Personal account suffcient, or do you have to upgrade to the Premier account?

Any info would be greatly appreciated!

Ken Z

 

[bill-dfw]

Hi Ken,

We have been Paypal members since 2000 and have never had a problem with it. I have paid for points several times with Paypal as we are always in need of transfered points(do you have any??).

In the only dispute I have ever had while using PayPal, I was the buyer(on eBay)... The seller sent the item via FedEx. The item was lost(maybe Tom Hanks had it??). Anyway, I reported the item undelivered to PayPal. They put a freeze on the money I sent the seller and after the PayPal investigation, the money was returned to our acount.

PayPal has always been regarded as a quality company with good customer service. When eBay purchased PayPal a few months ago, it put them in a very comfortable financial situation.

I trust PayPal.

Good luck to you!

Bill

 

[VickiVM]

I can't help about the transferring issue via PayPal, but I can answer about the type of account issue.

I rented points from a DVC'er last fall and sent money 3 times to him. First time was PayPal. He had the Premier accout and I had just the regular account. It cost him about 3% (maybe 5%, I forget) to send money from my bank account to his PayPal account because of his Premier status. I wasn't aware of this but I don't think he was thrilled about the 3% deducted from the amount I sent him.

The second time I sent money to him I sent a money order, because I was sending 50% of the ressie and didn't want to have to include 3% extra.

The third time I sent money was for the balance of the ressie and a smaller amount of money so I went ahead and used PayPal and included the extra 3% with it to cover his surcharge.

From what I understand, there is no surcharge if you're transferring money from a bank account to someone who has just a regular PayPal account. Someonce correct me if I'm wrong.

HTH.

Vicki

(BTW - I reimbursed him for the 3% he incurred from the first transaction and included it in my money order. I was mortified that he was popped for this charge)

 

[InstImpres]

I use paypal when I rent and have used it to pay when points are transferred to me. Who ever receives the money does ALWAYS pay a flat fee plus a percentage.

I normally take a $100 paypal deposit to make a ressie. Basically a sign of good faith. The balance comes to me in 2 more payment. I accept check or money order or at that point, if they elect paypal, I ask them to add in the fees.

Never had any problems.

Good luck

 

[mkunichi]

From the PayPal user agreement:
Personal Accounts may receive non-credit card funded payments for free.

Also:
Users may register and hold one Personal Account and either one Premier or one Business Account.

So I'm not sure why people don't choose to receive payment for rentals into their Personal Account using a non-credit card funded payment.

 

[cher8754]

Funny you should ask because I just finished making a payment to a member thru paypal for transferred points. We agreed since the transfer is a final transaction that I would pay 50% when the ttransfer was confirmed on the phone and I will pay the other 50% when i receive written confirmation. There has to be some trust involved, that is true. Exchange phone numbers and at least talk to the other member on the phone. By the way, it is correct that if one pays from the bank account that there is no fee and everyone should agree to that. Call Disney and have them explain to you in detail about use years and what month of the use year the other member has to have in order to make the transfer work. It is a little complicated. Good Luck.