direct deposit or pay pal?

[weisyboy]

so witch do you prefer bank deposit or bank transfer?

[MALPT]

if they is payin me either

If I am buying paypal definately - been ripped off a few times with direct deposits and no goods etc but never with paypal (and they offer buyer protection anyways) plus my credit card details are not revealed to the end supplier.

[echnidna]

ditto

[Big Shed]

Must say I have never had any problems using direct deposit. Money has been transferred immediately and the recipient does not have details of my bank account.
example, I paid for an item purchased on ebay on Monday, seller received funds same day.
I have never tried Paypal because I dont like the idea of anyone having details of my bank account or credit card, which is something that Paypal has to have and therefor someone has access to your bank details be it credit card or bank account number. It is probabbly as safe as houses but that is just me. Using direct bank deposit to me is not a hassle and no charges involved.

Munruben, I have taken the liberty of answering your post here.

I don't know the name of your bank, but it must be the only bank in Australia that offers that kind of service!!?? You do a direct deposit on a Monday(on the internet I assume) and the recipient has the funds the same day????

I bank with which bank for my personal stuff, Bendigo Bank for our local landcare group. Neither of those banks offer that sort of service. I have sold goods on Ebay and received payment via direct deposit through just any major bank in Australia, all take overnight IF transfer is entered before about 6pm, after that the recipient doesn't get it till the day after that again. If the deposit is entered after 6pm Friday, the recipient will not see the money until the following Tuesday.

I agree with echnidna, Paypal is fast and efficient, something we can't accuse the major banks of. Particularly for overseas payments it is fats, recipient has access to the funds as soon as I hit enter on my computer, they have a very good buyer protection scheme, easy to track payments and so on.

In fact Paypal is what the banks' direct deposit should have been.


As for people knowing your credit card details or your bank account details, every time you use EFTPOS or use your credit card in a shop or restaurant, you are giving away those details for anyone to see.

[Big Shed]

if they is payin me either

If I am buying paypal definately - been ripped off a few times with direct deposits and no goods etc but never with paypal (and they offer buyer protection anyways) plus my credit card details are not revealed to the end supplier.

ditto

[abitfishy]

every time you use EFTPOS or use your credit card in a shop or restaurant, you are giving away those details for anyone to see.

Exactly. And given some of the shady characters in our local servos and dodgy corner stores, you need to wonder why people are so scared of using their cards in so many safer places!

Other than the fees, Paypal is the best thing since sliced bread. I would pay by paypal any day of the week, or if I was selling something of decent value (and/or making decent profit), or the buyer agreed to chuck a few bucks in to cover fees (can't be done for ebay transactions though, against their rules), I'd happily accept paypal. Its usually instant (with a few exceptions), which can go a long way when selling online not through ebay as you never know if someone is genuine.

[DavidG]

I prefer to do direct deposit and used to use Pay Pal only for O/S purchases but PP sucks so I canceled the PP account.

With direct deposit I have the sellers bank details so if it is fraud I can hand the details to the police and they will look after it.

Try to get info out of PP.

[weisyboy]

i am with suncorp.

if another person has suncorp account then the transfer is only a matter of a few hours next day if its late. most other banks i get it the next day.

i dont like giving my bank account details to anyone and credit cards are the worst things ever product of the devil.

whoever thaught that letting people spend money they dont have musta been mad.

[bsrlee]

Interestingly, the US Gummint have a bill going through that will require/allow PayPal to with-hold US tax on ALL their transactions - there appears to be NO exception for non-US residents (PayPal is a US company with a local licence to operate), so I can forsee them copping a free loan on all transactions until you can provide evidence of paying US income tax. This will apply to all 'merchants' receiving credit card transactions with a US credit card company (eg Visa, MasterCard, AmEx).

The Australian Gummint currently have no problem with this, if you provide them with evidence of paying income tax to a foreign govt., they will give you credit for the amount you paid, then add the amount earnt to your local income tax bill - no 'windfall' provisions there.

[Dusty Dave]

Hi Big Shed, really have to take issue with a couple of your points, especially as the OP didn't exactly specify whether they mean from a buyer's or seller's point of view:

Paypal is fast and efficient, something we can't accuse the major banks of.

It really isn't that 'fast', and it certainly isn't 'efficient' for the seller as it can represent a sizeable cost and enormous financial risk depending on the items for sale.

Particularly for overseas payments it is fats, recipient has access to the funds as soon as I hit enter on my computer,

No they don't. They are TOLD that the money is there, but they then have to PAY to transfer it to their own account before they can use it, which takes at least a couple of days, and in that time if any of PayPal's systems flag a potential fraud threat the transaction is reversed - leaving the seller without the goods OR the funds. If a customer pays me by direct deposit, I have the cash MUCH faster and there is no chance that the transaction will be reversed just after I send the goods. Paying me by direct deposit gives me no access to your bank details, but having a PayPal account gives anybody in a very large, very ruthless and totally amoral organisation (including the employees of their overseas call centres) access to an awful lot of sensitive information about you. Not only bank AND credit card numbers but also your full name, address and date of birth.

and they have a very good buyer protection scheme

No, PayPal CLAIM to have a very good buyer protection scheme. In fact, PayPal guarantees you nothing in the event of a dispute, and will only refund your money if they are able to reclaim it from the seller first. If the seller is genuine, then they can probably grab the cash from the seller's account. However, if the seller is a scammer and does a bunk with the cash, then the buyer generally gets nothing.

As well as paying the high fees, the seller, ESPECIALLY in Australia, is woefully exposed to fraudulent buyers. Essentially the seller has to prove their case to an employee of a Bangladeshi call centre that doesn't even understand the way Australians write the date (cases have been decided and sellers have lost money because dates apparently didn't add up). The seller has to provide ONLINE traceability (not offered by Aust Post) to even be in with any chance of a defence. There is no appeals process or tribunal, only what a huge (yet surprisingly unaccountable) multinational corporation (which pays no Australian tax nor has any Australian employess that aren't lawyers) decides. They freeze accounts willy-nilly, and grab cash from any account that is linked (however tenuously) to anyone they believe to be trading with a fraudulent person - buyer or seller. They promise to unfreeze accounts and return rightful cash once the dust settles of course, but they make no undertaking as to how long this process might take.

You may be interested to learn about the recent adventures of Frerk-Malte Feller. He is the current MD of eBay and prior CEO of PayPal in Germany, and when he sold some UEFA cup tickets recently from his own personal account he insisted that anyone wanting to pay for them by PayPal would need to email him a photocopy of their driving license and BOTH SIDES of their credit card. This is a man who either desperately wants to discourage people from paying him by PayPal, or who seriously feels the need for additional protection against fraudulent buyers.

Add to this the current attempt by eBay Australia to obliterate any form of payment other than PayPal (experimenting with us Aussies first before attempting such a gross act of greed on the rest of the world - fortunately the ACCC has a little more to say on the matter than eBay anticipated), my own personal feeling is that the less I have to do with a syphilitic outfit like PayPal the better.

eBay already allows us to suss out our seller's prior history and reputation before we choose to deal with them, the price we pay for a bit of 'perceived' additional protection from a lying, cheating, thieving corporation is too much to pay. It isn't 'protection' at all, it's smoke and mirrors and corporate greed of the worst kind.

[Steve Fryar]

To be honest I've had no problems with either,but if it is international..Paypal!My wife bought something off ebay while I was at Moomba.I had the paypal password but I couldn't be contacted.So she went direct debit...to China.We got away with it but never again.

[echnidna]

and of course all banks are honorable and moral

[weisyboy]

atleast you can go in and speak to someone. and more importantly understand what they are saying.

[Bad Woodworker]

Sorry to change the point slightly but I wish Carbatec would except either paypal or direct deposit. They seem to be just about the only one left who doesn't except this type of payment, sometimes i just don't like to use the credit card and pay large interest.
Anyway thats my 2bob.
BW>

atleast you can go in and speak to someone. and more importantly understand what they are saying.

[malb]

Sorry to change the point slightly but I wish Carbatec would except either paypal or direct deposit. They seem to be just about the only one left who doesn't except this type of payment, sometimes i just don't like to use the credit card and pay large interest.
Anyway thats my 2bob.
BW>

If you were to pay by credit card with an interest free period and pay off the sum promptly, they shouldn't be able to get interest from you.

OK, if have money owing on the card beyond the interest free period, put something on and pay it off straight away, the payment will be allocated in the order of interest outstanding, outstanding cash advances, outstanding credit advances etc, but if the card is fully paid by every due date, they can only hit you with interest on cash advances. I never ever use cash advances.

I used to do everything with cash or cheque, and only if I had the funds that day. Now I do virtually everything on creditcard and pay it off on the due date. The only regular exception is buying at Aldi who have a small surchage for credit, there I use the same card but select savings and supply a PIN to avoid the surchage. Very occasionally I withdraw a modest amount of cash which covers the few places where credit isn't accepted, such as the local takeaway or a community event.