PayPal is one of the world’s most reputed online payment systems. It’s a safe way to shop online, and PayPal offers plenty of other services as well. Despite PayPal’s popularity, it does have quite a few drawbacks. Here are a few common issues linked with PayPal.
Customer Service Can Be Subpar
One of the most common issues people have with PayPal has to do with its customer service. It can be challenging to resolve problems quickly. It’s typical to spend a lot of time on hold before a problem is resolved. If you make a support claim via email, you’ll likely receive a form response.
If you use PayPal regularly, you’ll likely run into a problem at one point or another. Not being able to rely on the customer service department to quickly resolve the issue can be a huge frustration source. Over the years, many people have complained about PayPal’s customer service department.
Withdrawn Funds May Not Show Up In Your Bank Account Right Away
If you withdraw funds from PayPal, you should know that you might not immediately see them in your bank account. It can take up to 4 business days before your funds clear.
Withdrawing funds can take even longer if you choose to do so on the weekend. You’ll have to allow for this extra time whenever you transfer funds on PayPal.
Canceling Subscriptions Is A Hassle
If you use PayPal to subscribe to something and decide that you want to cancel your subscription, you won’t have an easy time. It’s likely that you’ll have to go through several steps before your subscription can be canceled. It isn’t easy to find the section of the site that allows you to cancel subscriptions.
Being charged for a subscription that you don’t use can be extremely frustrating. You may want to avoid using PayPal for subscriptions, if possible. If you do have a subscription through PayPal, you’ll want to look into the cancellation process ahead of time.
Not All Services Are Free
Many of the services offered by PayPal are free. However, PayPal is a for-profit service; they also charge fees under some circumstances. Fees tend to be higher when they involve non-PayPal payments. If you’re not aware of these fees, they can add up very quickly. It is always recommended to check a list of PayPal alternatives online if you wish to switch. You never know you might find an alternative that is suitable for your online transactions.
It’s important to pay close attention when you use PayPal. Don’t click to confirm a transaction without checking to see if you’re being charged extra fees. Most of these fees are nominal, but you won’t want them to catch you off guard.
Some Currencies Are Excluded
PayPal does support many currencies. At the time of writing, there are more than 20 currencies that are available on the platform. However, there are some currencies, like rupees, that are excluded.
It’s important to make sure that PayPal supports the currencies that you’re going to be using. If you have customers in India, you may find that PayPal isn’t your best option. Take a look at the list of currencies PayPal supports so that you can confirm it’s the right option for you.
Your Account Can Be Locked
PayPal has a number of rules. If you fail to comply with these rules, or if PayPal believes that some of your account’s activity is suspicious, your account could be frozen or locked, which could cause severe issues for you.
Once your account has been locked, you may struggle to resolve the issue. Having a frozen account can block access to the funds you have on PayPal, causing severe problems. Losing access to your money for an extended period can be devastating, and it is a risk with PayPal.
There Is A Risk Of Fraud
Fraud is always a risk when it comes to online transactions, and PayPal is no exception. While PayPal can protect you from many security risks, many people exploit PayPal’s dispute system. If someone purchases goods from you, they can file a dispute on PayPal after the goods have been received. PayPal may choose to side with them and provide them with a full refund, even if the goods you sent were as described.
Many people have fallen victim to these kinds of PayPal scams, and the same thing could wind up happening to you. Although PayPal does have a complaint system, you may find that your issues are ignored.
PayPal is a popular system for a reason. It’s easy to use, and it has a lot of excellent features. It’s widely adopted, which can also be beneficial. However, there are definite drawbacks to using PayPal, and you’ll want to be aware of them. Being familiar with these problems can help you to determine whether PayPal is the best choice for you.