Tuesday, January 28, 2014

Alert: PayPal - Notice of Policy Updates

I received an email with regards to a policy update from PayPal. My concern with scam emails is clever scammers at some point will send an email that is so real, so believable, that it has the ability to trick everyone. If you think you can't be fooled think again. Chances are you've been fooled many times previously in your life by a good salesman. Been told something that isn't true and accepted it as true. Scammers simply tend to use the internet now and simply trick us out of our money for nothing in return.

So when I received the email from PayPal I check the links as usual. They looked OK. But then as per the advice I give everyone, I didn't click on the PayPal link in the email to check the information. I opened the browser, went to the PayPal site and logged on. There I checked the notifications and found additional information.

Previously when you refunded money where people paid using PayPal, the amount was refunded and any fees were also refunded. Now PayPal has decided to refund the money, but then charge the seller the fixed fee component which is currently 30 cents. Not a great amount of money but knowing previously there was no cost to refund, kept things pretty simple and provided a little peace of mind. Now if you refund the payment you'll not only refund the money, but also have to pay the PayPal fee for the transaction. For my level of transactions this will make little difference. For businesses doing a lot of transactions that require a lot of reversals this could add up.

Kelvin Eldridge 
Call 0415 910 703 for IT support.

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