After eBay bought PayPal gradually forcing customer of eBay to have to use PayPal I thought it was heading in a disastrous direction.
I'm sure anyone who has Goggled "Issues with PayPal" will be aware, PayPal do not have to answer to any financial regulatory body and as such you have no 'leg to stand on' should any discrepancies show up in the level of service you have received, legally or illegally.
After almost a month of telephone calls and daily email conversations and having just been on the end of a 40 minute telephone call to PayPal it's been brought to my attention that my bank account has been linked to someone else's PayPal account. Despite stupid quantities of emails received, PayPal's responses have all contained the same copied and pasted resolution which is to add another bank account. Despite my emails strongly suggesting that someone has possibly illegally associated my bank account with their PayPal account.
Now here comes the interesting part. While this was ongoing I thought I'd contact Customer Direct for some official advice. They inform me that if you read the Terms & Conditions for PayPal use you are basically wavering your rights to any form of regulatory support and therefore simply at the mercy of PayPal's own rules. PayPal is now registered in Luxemburg which interestingly now falls outside the jurisdiction of the Financials Services Ombudsman or any other recognised international financial ombudsmen authority.
Basically if you think your protected using PayPal, your very, very mistaken. If you get shafted by someone in China who's pretending to live in Leeds and own a small bathroom showroom you'll possibly get your money back. If however you've had your I.D cloned, not received an item and the other party insists that you have, it's left to the mercy of PayPal and no law is required to back either individual.
I'm sure anyone who has Goggled "Issues with PayPal" will be aware, PayPal do not have to answer to any financial regulatory body and as such you have no 'leg to stand on' should any discrepancies show up in the level of service you have received, legally or illegally.
After almost a month of telephone calls and daily email conversations and having just been on the end of a 40 minute telephone call to PayPal it's been brought to my attention that my bank account has been linked to someone else's PayPal account. Despite stupid quantities of emails received, PayPal's responses have all contained the same copied and pasted resolution which is to add another bank account. Despite my emails strongly suggesting that someone has possibly illegally associated my bank account with their PayPal account.
Now here comes the interesting part. While this was ongoing I thought I'd contact Customer Direct for some official advice. They inform me that if you read the Terms & Conditions for PayPal use you are basically wavering your rights to any form of regulatory support and therefore simply at the mercy of PayPal's own rules. PayPal is now registered in Luxemburg which interestingly now falls outside the jurisdiction of the Financials Services Ombudsman or any other recognised international financial ombudsmen authority.
Basically if you think your protected using PayPal, your very, very mistaken. If you get shafted by someone in China who's pretending to live in Leeds and own a small bathroom showroom you'll possibly get your money back. If however you've had your I.D cloned, not received an item and the other party insists that you have, it's left to the mercy of PayPal and no law is required to back either individual.