PayPal’s $2500 fine

https://marginalrevolution.com/marginalrevolution/2022/10/the-2500-fine-read-it-and-weep.html

by AlchemistCamp • 4 years ago

36 18 4 years ago

marginalrevolution.com

cft• 4 years ago

Preview of CBDC

natch3• 4 years ago

Even content that is simply "objectionable" is included as sufficient cause in the terms.

bm3719• 4 years ago

I hate what PayPal has become and want nothing to do with them.

But, what payment processor should I be using instead? Venmo is owned by PayPal. Zelle (and Venmo) use Plaid, which accesses your entire checking account history. What's left and viable?

simfree• 4 years ago

Zelle doesn't use Plaid if your credit union or bank builds in Zelle to your banking app.

rvz2• 4 years ago

AlignPay. [0]

[0] https://alignpay.com

mattbee3• 4 years ago

Not sure about the US but penalty clauses aren't valid in UK law. You can only charge for what you might lose as a result of a breach of contract.

I can't imagine how PayPal would incur $2500 costs as a result of someone buying a traveller's cheque.

TheLoafOfBread• 4 years ago

They will just take it from your account and then you can sue.

mattbee3• 4 years ago

I don't doubt it!

Maybe I'm just old but it's been 20 years since I last trusted PayPal enough to leave a balance there :)

rhacker• 4 years ago

depict ... discrimination of protected groups or of individuals or groups based on protected characteristics

So like, if I purchase or rent various movies that depict racism, is Paypal going to fine me or amazon?

For example https://www.amazon.com/Roots-The-Complete-Miniseries/dp/B000...

tag21032• 4 years ago

They are going to fine you.

tag21032• 4 years ago

This is plainly illegal. Just because it is written in a contract doesn't mean that it will stand up in court. Paypal is opening itself up to major class action lawsuits over this. Liquidated damages are 1) extremely hard to prove and 2) Paypal has to prove that the damages incurred were actually $2500. AG's are going to have a field day with this one.

https://www.griffithdavison.com/liquidated-damages-are-unenf...

rvz2• 4 years ago

Do not use PayPal. They will arbitrarily shut your account down for any reason or explanation and can do this [0] to [1] anyone [2] and will never change.

It will only get worse and your business, organization will end up dying in their hands if you go all in and depend on them.

[0] https://twitter.com/flipper_zero/status/1567194641610465281

[1] https://www.telegraph.co.uk/news/2022/09/21/paypal-shuts-acc...

[2] https://twitter.com/llsceptics/status/1567658400573448192

greenyoda• 4 years ago

Big discussion of PayPal's new policy a few days ago: https://news.ycombinator.com/item?id=33062320

natch3• 4 years ago

Why does the title say flagged and why is there no vouch option for this flagged article? Paging dang for the second question.

natch3• 4 years ago

Update: I guess I can't page dang, because I can't flag my own question. Anyone care to flag the above comment for me?

PayPal’s $2500 fine

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