Meology

Do you know what happens to your money transactions through PayPal? What do you think about the E-Bay boycott or did you even know there was one this past week? Many sellers decided to boycott E-Bay due to new fee and policy changes that were recently implemented. One of the biggest concerns is that even though E-bay reduced listing fees, they increased final value sales fees. It is just like the government. They always claim they are lowering taxes, but they increase taxes in another area to make up for it. For example, in my state(SC), this year some of us were fortunate enough to have our property taxes lowered. This saved me about a hundred bucks on my home property taxes. However, the tax on food increased, so the government will get their money back. After all, you have all the people who rent and do not have to pay property taxes (except on vehicles)that buy groceries and have to pay the higher tax. It all evens out in the long run. And the internet giants are no different. Besides the E-Bay boycott, do you know what PayPal does with your money? Along the same lines, because many transactions through E-bay are handled by Paypal, they want to make as much profit as they can and they too have some new changes that customers are upset about. Next month, some new controversial changes will be rolled out. PayPal will hold "high risk transactions" for up to 21 days. Why so long? Because they earn interest on those payments and the longer they hold money in their account, the more interest they profit from. So one has to decide for themselves if a boycott is worth the trouble. How much investment a person has in their E-bay store(my ebay store) and are the profits worth the extra fees or worth having to wait for payment through Paypal. Some sellers have already moved to other sites. Below are articles you can read to find out more about this "scandal" that will probably get alot more attention in the near future.