PayPal payback??

[WaterDawg]

folks are gonna get 50 bucks from what I hear, not me, I got my account too late.

 

[Scubaroo]

I think that you have to submit proof of being wronged by PayPal, like having funds in an account frozen, to qualify. Some of the stories on www.paypalsucks.com indicate that some people have had tens of thousands of dollars at a time withheld by PayPal, and their online/eBay businesses ruined, because of a single complaint by a disgruntled customer. Other people report PayPal cleaning out their linked checking accounts (ie money in your bank account, not your PayPal account) without notification or merit to refund alleged disputed transactions. THAT's what the class action is for.

 

[dsgobie]

I'll all about free money... Even if it's just $10.00... I didn't have time to read the whole thing through, and thought I'd let's ya'll figure it out... Where's Lawmen?

 

[r37691]

I got that notice also. We'll all probably get a check worth less than the postage it took to mail it.

 

[durian]

I have been using pp for 2 years and they have made the transfer of funds very convenient for me. Without them it would take longer and be more expensive. They did hold my money up once for a month which was real irritating, but no [problems since.

 

[O2BBubbleFree]

I do not see how I have been damaged by PayPal, so I am going to blow it off.

We got one too, and don't feel we've been wronged by them. I'm sure it's just another 'free money' lawsuit, which will end up hurting PayPal. I'd hate for them to go under just because a bunch of people want a free ride. As mentioned elsewhere, the payouts probably won't pay for the postage (except, of course, fo the one or two lawyers who dreamed this up).

 

[yknot]

If you read the notice, first of all, it went to every one that had a paypal account opened between two specific dates, which I would assume to be several hundred thousand people or businesses. There are a lot of people excluded from this also because they are not subject to or entitled to protection by US law. Secondly, you would have had to have legitimatly suffered some sort of financial harm in order to proceed as a plantiff in the class action and will be expected to document this (just having had an account opened during a certain time frame doesn't entitle you to anything). The basis of the suit claims that paypal failed to follow certain banking type regulations that the original plantiffs thought should apply. It also reads that they have settled for a 9 million + amount. Assume 1/3 for the attorneys, some more for expenses and the rest to those harmed. Class action suits don't automatically devide the amount evenly between claimants as some may have suffered more harm than others and therefore be entitled to more compensation. You also can't figure it out until the class is closed and you know how many are due a settlement. The other point in sending out the notice is that if you feel you have a legitimate claim and you think it is worth more than the class action will pay, you can officially opt out of the class and pursue your own legal remedy, say thru your own individual lawsuit. Personally, I have never sold anything using paypal, only purchased. I don't know if there are any claims specific to buyers or if this was primarily related to sellers and their accounts. I am going to just ignore it all and delete the e-mail because I am not due anything anyway.

 

[Dryglove]

I have never been caused any grief by papypal and therefore am not considered part of the suit. You must follow under one or more of these categories be a part of the suit

You experienced an unauthorized or incorrect electronic transfer to or from your PayPal account;

Your PayPal account was improperly restricted or access was improperly limited;

You requested information from PayPal about an account restriction or limitation or unauthorized transfer and you did not receive a satisfactory response; and/or

You experienced or reported an unsatisfactory result from a dispute with PayPal involving a chargeback, a refund, a buyer complaint, or PayPal’s Seller Protection Policy, Buyer Complaint Process and/or Buyer Protection Policy.

 

[Cards90]

I still use them and will for as long as I can, but they have made things hard on me a few times while selling on internet sights and have frozen my account for using online auctions other than ebay, they told me that I can not use any email address that I have on file with Paypals in other online auction sites. I did not like this at all since they have made me lose alot of money until I figured out how to use the system in my favor on other auction sights, since then no real problems.

The trick is to request money from your customers instead of puting a payment link in your auction or advertisment.

I used the Long Form to make my claim against them, but have not sent in the info, I can get back $XXXX.XX this is less than I have lost and they still are holding some money of mine from a years ago. I will consider that an investment that went bad.

 

[ChrisM]

I have never been caused any grief by papypal and therefore am not considered part of the suit. You must follow under one or more of these categories be a part of the suit

You experienced an unauthorized or incorrect electronic transfer to or from your PayPal account;

Your PayPal account was improperly restricted or access was improperly limited;

You requested information from PayPal about an account restriction or limitation or unauthorized transfer and you did not receive a satisfactory response; and/or

You experienced or reported an unsatisfactory result from a dispute with PayPal involving a chargeback, a refund, a buyer complaint, or PayPal’s Seller Protection Policy, Buyer Complaint Process and/or Buyer Protection Policy..

Actually, not quite true. The entire class are those that opened accounts between certain dates. there are two subclasses, those that fit one of the above definitions, who will received $50 under the short claim form, or more I guess if they can prove some loss under the long claim form. The second subclass is everyone else who does not fall under one of the above provisions (i.e., no real damages to claim)

This is because the law provides for statutory damages for paypal's violations, which are imposed without reference to actual damages.

$1M of the $9M goes to the statutory damages, the rest to disputes, fees, and costs (lawyers rake it in on class actions.....).

And paypal does not get money back that is not distributed. It pays the settlement and the lawyews dole it out. So not submitting a claim does not save paypal any money or lessen its damages

Agreed that the statutory damage claimants will get next to nothing.

Chris