Paypal (paypal.com)

Member Name: Paskuda

Product:	paypal.com
Date:	06/04/08 (95 review reads)
Rating:

Advantages: Can send money

Disadvantages: Charges and poor security

I use Paypal to receive money from the items I sell on Ebay and also to send money abroad to a friend of mine.

Paypal is good, if you need to send money abroad, since they do not charge for this, but I do not like the fact that they charge me when I send money to my bank account in UK!

Paypal has now been bought by Ebay and the revenue from Paypal transactions make up an astonishing 37% profits of Ebay, this gives you an idea of how profitable they are.

If you receive more than 250 pounds per month, they also charge you on that.

I have asked my sister to open an account because some time I receive more than 250 pounds, and I direct them to her account.

Paypal is good, but there are limitations. Finally, a word of warning! It never happened to me, but I know people who have been victims of fraud on Paypal. The most common fraud is to send money form a "non recognized" email, get the goods, and claim the money back. The contract you sign with Paypal makes you bear the losses of their very poor security system. If you are a victim of fraud, fight all the way to the regulator, Paypal have many complaints and the regulator may one day finally force them to improve their security.

Summary: Be careful