Thread: Is Paypal suck?

Originally Posted by iamfreelancer

why wait 7 days.... just apply the visa debit card from alrajhi bank...take only RM20 to open a saving acc and can take plus activate the card on the sameday... no need wait so long....

alrajhi visa debit card work perfectly with paypal....

thx a lot for teaching me bt i already apply just wait for 7day..thx

Paypal sucks? A successful product sure have tons of followers, and also tons of haters.

Paypal got 150 Million Account, tell me if 1% of ppl hate them, it's 1.5 million ppl queuing up to trash them!

How about speak up your thought on paypal by answer these 2 simple questions and probably walk away with a mini rewards?

Sell More Online Paypal Super Easy Give Away for Bloggers!

Malaysia has the no 1 credit card fraud in the world.

1. Paypal really isnt for Malaysian. Cant withdraw fund from Malaysian Bank. The money only stays in Paypal

2. Processing Fee is high

3. Withdrawal incurred additional fee (Hidden fee)

4. Wire Transfer is another fee.

What is left over?

wat can i say.... hmmmmm.... u are outdated on paypal issue....

Originally Posted by garywhw

1. Paypal really isnt for Malaysian. Cant withdraw fund from Malaysian Bank. The money only stays in Paypal

You can withdraw using visa debit card or Visa credit card now. No issue to that. Try search this forum post on this issue and you find the solutions.

Originally Posted by garywhw

2. Processing Fee is high

If you compare the processing fee with the local payment processor like ipay88 and commercePayment.. Paypal is a sure Winner.. hands down no argument.

Other than the per transaction fees. The local processor have monthly fees + yearly fees + setup fees + withdrawal period limit(sometimes more than 3mths before you can withdraw) But paypal have none.

Originally Posted by garywhw

3. Withdrawal incurred additional fee (Hidden fee)

where got hidden fees?? It stated clearly that Paypal will charge $5 per widthdrawal. No other charges there after.

Originally Posted by garywhw

4. Wire Transfer is another fee.

If you do a wire transfer.. the wire charges is from the bank... so paypal will charge the amount back to you.
If you don't believe, try go to the bank and ask what the fees involve in sending out an Wire Transfer.
Anyway, malaysian acc cannot do wire transfer.

Originally Posted by garywhw

What is left over?

Your money loh....

Thanks for that. I think your reply is helpful :-)

Newcomer here,

I have done some comparison between paypal & ipay88, below are some of my findout.

Paypal:
- No registration fee
- Expensive rate (3.9% + US0.30) per trasnaction if monthly volume less than USD3000. (after withdraw throught local bank e-debit, add extra 2% conversion from USD to RM and + withdrawal fees). So end up the transaction fees is around 6-8%
- very strict, fund may get freeze due to customer complaints


iPay88:
- Registration fees (RM488 1 time) + monthly maintenance fees (RM68)
- transaction fees 3% (no hidden cost and no withdrawal fees)


So if you do the match,

if your monthly transaction volume is RM2000

Paypal cost = 2000 x 7% (average) = RM140
iPay88 cost = 2000 x 3% + RM68 = RM128

Anyway, both has its own pros and cons

Paypal
Pro : Oversea market
No setup fees
Support multi-currency

Con : Tedious in withdral fund
no online banking (if also want to sell to malaysia)
High Transaction fees


iPay88
Pro : Provide comprehensive payment list (Credit card, 8 online banks, 4 e-wallet, China Unionpay)
Low transaction fees

Con : Monthly maintenance fees + setup fees
not support multi-currency (but heard soon)


Anybody can add more??

just to add something very important.

Paypal is not a direct payment processing gateway.

Paypal is a 'floating money'. Just like e-Gold, it's known as "digital" money. means it's not real. it does have value because it is accepted anywhere & you can cash it out. If you setup a paypal business account, whatever transaction will turn into paypal fund first before you can cash it out.

for any transaction..
why don't use Visa..

Can PayPal take money
out of my account without my knowledge ?
the answer is YES !!!