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1 definition by imbored2

 
1.
A borderline criminal online payment service owned by eBay that charges exorbitant fees and has numerous traps in their "terms of service" that enables PayPal to freeze your account and seize your funds for whatever possible reason.

PayPal is run by greedy crooks, mobs, thieves and possibly terrorists and has no customer support whatsoever, only a robot that gives automated responses.

Their so-called "protection" is basically: Sure we'll protect you if something happens, we'll just rape you with fees BEFORE something happens. And if something does happen, you will need to file a case, wait six months, pay another fee and we might give you another automated response.

On top of paying eBay fees (listing, final value, reserve, pictures, etc) you are now forced to use PayPal and ONLY PayPal as your sole methode of payment... (and pay another fee that's worst than Western Union).
I sold a few items last week at a profitable margin on eBay but I made $0 because eBay took all the profit in fees. But then I had to pay PayPal fees so I am at a loss. I hope I can salvage my money because PayPal has now put a hold to my account and I will need to pay another fee to have the funds released and another fee to have to withdrawan to my bank account.
by imbored2 February 21, 2010