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Started By
Message
re: PSA - Paypal doesn't cover your digital purchases
Posted on 7/24/14 at 10:54 am to CAD703X
Posted on 7/24/14 at 10:54 am to CAD703X
quote:
VISA, my bank, my brokerage account, etc. have never questioned me when I disputed a charge..especially something as minor as $5.
The law tells them to do that.
quote:
If your credit card is lost, stolen, or used without your authorization, you do not have to pay for any unauthorized charges greater than $50 under the Truth in Lending Act.
LINK
I guess paypal doesn't qualify as a credit card and therefore isn't subject to the same requirements? Also, the credit card companies aren't some altruistic entity absorbing your pain for you, they put all those charges back on the merchant.
This post was edited on 7/24/14 at 10:56 am
2
Posted on 7/24/14 at 10:57 am to TigerinATL
quote:
I guess paypal doesn't qualify as a credit card and therefore isn't subject to the same requirements? Also, the credit card companies aren't some altruistic entity absorbing your pain for you, they put all those charges back on the merchant.
yep. the more you know. buyer beware.
Posted on 7/24/14 at 11:06 am to TigerinATL
PayPal doesn't even qualify as a bank. Their TOS gives them a lot more freedom to decide what should happen to your money. I always use a credit card for online purchases. Unfortunately, that same safety net of disputing a charge is abused by some. If a buyer disputes a charge with cc company, paypal takes the money from the seller regardless of return policy/claims process. I suppose it's similar for most merchant account services, except paypal is one of the few that tries to play the role of a bank, escrow service, and merchant account all in one.
This post was edited on 7/24/14 at 11:07 am
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