PayPal - A Very Useful Service (paypal.com)

Member Name: danieljamesphoto

Product:	paypal.com
Date:	31/12/08 (24 review reads)
Rating:

Advantages: safe, secure, reliable

Disadvantages: charges can get a bit much on large items

PayPal is the number one leading money processor online, acting as a middle man between buyer and seller on sites, including the majorly popular eBay. Personally i see both sides of PayPal as i act as both a seller on eBay and also as a buyer from eBay and other PayPal supported sites.

Buyer: Brilliant! instantly pays someone, straight from your account, no charges up to a certain amount and also able to pay using a credit card if you want. No criticisms really

Seller: As a seller it's the fees that sting you, at around 3.4% + £0.20 per sale this can go either way, for small transactions this is fairly reasonable but as you get larger the fees can increase and suddenly your profit is dropping. They also currently take up to 7 days to process money being moved from your paypal account into your bank account, which although is understandable, is also quite frustrating at times as there is no other option and when you want the money straight away it isn't possible.

Buyer & Seller: Protection against fraud and scams on both sides of the transaction is an invaluable service

Overall: a great service that helps to keep people secure online and move money safely around banks

Summary: a great service that helps to keep people secure online and move money safely around banks