Paypal

[AlphaWolf]

I was going to buy an xbox mod chip earlier today, and the cheapest place to get the one I want requires you to have a paypal account. I've tried to avoid having anything to do with paypal because I have heard of people getting scammed on it, and paypal themselves doing nothing to address when these scams occur. But nonetheless I don't have a choice.

The modchip site says that if you register through them, they get a $5 comission. Well, rather than give a site which I just barely heard of that profits off of something shady a free $5, I decided to sign up through Martin who probably needs the $5 more :)

The catch though, as I just found out, is that I have to put in a $250 electronics fund transfer into a paypal account for martin to get it.

My question is, has anybody done this before? The most I expect to spend is $50. I am far more accustomed to spending money at local stores (most internet sites just bother me *shrug*). Are you allowed to withdraw the money that you don't spend? or does it function like some sort of non-refundable "internet spending gift certificate"?

I can't get an EFT running at the time being though, but before I do anything anyways, I would like to hear more about paypal.

BTW: Heres martins referral link: https://www.paypal.com/refer/pal=49D7LP2RNB5DS

[Acorn]

They are reputable now that they were bought out. Before that they stole $200 from me, so I don't use them as a matter of principle. Yes you may withdraw the money. In the forms of purchases, transfers (to other paypal accounts), direct depositits into your bank account, credit card, and a check in the mail. They do want you to get "verified" though. You should read through their help/faq sections.

[AlphaWolf]

Why do they want $250 though? I couldn't find that anywhere, nor could I find a definite answer as to whether or not there were any catches. E.g. you must leave that money in there for so long without withdrawing it without a penalty, etc. I haven't finished reading the fine print yet.

You can never be too careful on these kinds of things.

[Acorn]

When I signed up they just gave you 10$ for signing up. Never mind that they stole it from you when you tried yo use it but... ;) I've never heard of this 250$ to get your referrer his 5$'s thing, but it makes sense. Means no more mass signing up friends who don't exist or will never use paypal just to make the cash.

[vampireuk]

Alpha trust me paypal take scams if you report them very seriously, we had a issue on nvnews that almost landed us in very hot water. We issued a formal apology and it ended there.

[Martin]

Originally posted by AlphaWolf
Why do they want $250 though? I couldn't find that anywhere, nor could I find a definite answer as to whether or not there were any catches. E.g. you must leave that money in there for so long without withdrawing it without a penalty, etc. I haven't finished reading the fine print yet.

You can never be too careful on these kinds of things.

I've noticed a terrible exchange rate when withdrawing money, that's probably where they make their money, and that's probably also why they want the $250.

[Tri-Force]

if you want martin to have 5 dollars then send him a pay pal transfer for 5 dollars. it aint worth putting all your money in there when you arent sure (espically after hearing what the above had to say) that you can get your money out. i used pay pal only once in my life to buy the Michelle Branch Indie Album (i LOVE that album by the way) and i dont see myself using them again. there are easier ways to buy things online.

[AlphaWolf]

I read through all of the fine print and signed on the dotted line. The $250 that I put into the paypal account will actualy earn more of an interest yield than it would have when it was in my regular savings account, so I went ahead and did it anyways.

The bonus to martin@emulation64.com was confirmed in the process as well. :)

[Martin]

W00t! Thanks AlphaWolf :D