Not sure if this is new but I just received this via email.
With Pay After Delivery, you can receive your purchase before paying for it 21 days later from your bank account. No interest, no fees.
If something goes wrong, you can still be eligible for a full refund, including shipping costs, with Buyer Protection.
At checkout, you can choose Pay After Delivery as your way to pay. It will show as a payment method on eligible purchases.
Have been using this for a couple of years, damn handy for pricing errors!
Worth noting that you can't combine it with eBay codes
damn handy for pricing errors!
How ?
Because no money comes out of your account.
If the company deems it to be a pricing error, and issues you a refund, then it just cancels the "pay after delivery", and this happens inside the 21 day period.
So you can take a punt without any money leaving your account
Cool . Thanks
true, the worst is that the refund normally takes a few days as most of the time it stays as "Pending" for a few days.
I assume because it means you do not have to wait for your money to be refunded in the likely event that the order gets cancelled.
And what's the limit you have if you don't mind me asking
Isnt it the same if you use a credit card? It is pretty rare for the refund to drag past payment due date.
If you are really tight on cash you can always do a chargeback for late refunds which relief your liability to pay at the due date.
This is good to know!
so this is for people that really cant afford stuff?
yep
I have no idea. If you have no money for the item, you won't have money 21 days later as well. Quite the contrary with stuff like afterpay that you do have the money but not able/ not willing to make full payment at that time.
thats where they get you. All these "pay later" are made for people who cant afford. Then when they cant pay they are charged with 20% interest per year.
Yeap, I remember afterpay reported their profit of few millions just from people paying late payment fees. But I still use afterpay even when I can afford stuff coz it's rather convenient to have stuff getting charged matching my pay cycle lol.
My wife and I use Afterpay and have never missed a payment. We don't have credit cards so this comes in handy if some clothes are needed. We can pay upfront if we wanted but it's just easier to pay over time.
Isn't this just another form of a 'credit card' then?
But you might have the money in 21 days
That is true but the way PayPal is implementing this is rather tough making you think you might have the money in 21 days but usually those people don't if you cannot even fork that amount of right now.
A lot of people get paid fortnightly, man. I might just want to hold onto the last $50 I have and save the bill for when I can afford it.
If people didn't buy stuff they couldn't afford, to impress people they don't like, the economy would come to a grinding halt.
thats why the economy would go bust with me, I only buy things for my want/need and not to impress others. And obviously things I can afford, never loan/credit card.
Same here, but not the last part.
I pay for bare essentials and bills with credit card on a points-earning no annual fee credit card, and always pay in full at the end of interest free days.
@kadaj: Yes. There is all the points earning you can get. And if youre smart you make money with points. But they do all this hoping one day you won't be able to pay or forget to pay. Then they make their sweet cash. If youre organized you'll just win.
You are a great example…You should go into money management business.
We need to restructure the economy away from this tbh.
I also don’t buy if i dont have exactly amount of cash ready to payback the credit card on the next day after the purchase, the credit card i use only to get qantas / flybuys point LOL
But economy is about spending? Isn't that why interest rates go down during recession? To incentivate spending and therefore bring the economy back up? There is a very good video explaining.
See below. Worth 30 mins of your time.
@Bruno28: I completely understand that, don't worry. I'm talking about for the good of the planet and to prioritise people, we need to move away from good spending = good economy = good country.
be warned you have to pay via bank account and cannot be funded via credit card, you then loose your ability to do a chargeback as a final attempt for goods not received or as described.
I don't know, and I haven't checked T&Cs; but wouldn't a chargeback on a Paypal transaction land you in hot water with Paypal, as the payment still goes through PP first?
I've charged back Ticketmaster $82 when they stuffed up and charged me but never sent tickets, and no record of my purchase existed on their system or my email, and it resulted in my account AND pending tickets to another (much more expensive, $350 x 2) show being voided.
I learned the hard way that chargebacks are dangerous.
Other people have lost entire PSN accounts and all their game purchases via chargeback, also.
Both companies have it in their T&Cs that a chargeback voids your account. I'd assume Paypal would too.
Could you clarify what happened?
I've chargebacked a few items via Amex with no issue on Paypal or eBay's end. In most cases, I rather not stuff around with Paypal or the seller and go directly through my credit card.
Paypal might be fine then.
Not sure how to describe it better.
Ticketmaster took money and didn't provide goods, email support said no transaction existed, I sent them a screenshot of my bank statement, they washed their hands and told me to ring my bank as the transaction could be fraudulent (wasn't because I was the one who attempted to make it), I rang bank, bank sent me chargeback application, I filled it out, 4 days later bank gave me money back, 3 days after that; I got an email from Ticketmaster saying my account had been cancelled as I broke T&Cs, and I couldn't log in anymore. I then found out 6 months later that my tickets for another event were voided because they declined my entry at the door, which was crazy because they show was sold out and I had 2 $350 seats. I contacted Ticketmaster the next day and they said chargebacks result in account suspension and any ticket tied to that account being voided, and that it's in their T&Cs.
@BradH13: Did you do a chargeback on the 2x $350 tickets? If you didn't, you should have! To not refund you on those tickets is tantamount to fraud!
@OnTheMark: Bank said it was too late as the tickets for that show were purchased 10 months before show day by this point that I had found out.
@BradH13: Bugger - still worthy of a criminal charge for fraud though IMHO.
Just because something is in the T&Cs doesn't automatically make it legal.
@BradH13: "Oh hey, we no longer have the money for the tickets we claimed didn't exist in the system and therefore never should have had the money for. Let's waste $700 more of their money."
Yeah I’m not into Paypal having access to my bank account at all.
Is this a sneaky credit trap of sorts?
After 21 days do you go straight on to 20%+ interest if not paid out fully, or repossession, or?
Doesn't mention anything about that and I couldn't see anything in the expanded user agreement. Transcript below
The buyer authorises PayPal to submit the debit to the buyer's primary bank account for the amount of the transaction, and resubmit it again if the initial debit is rejected or insufficient. Please note your financial institution may charge dishonour or other fees in connection with the payment. If there are insufficient available funds in the buyer's primary bank account, the buyer authorises PayPal to fund the remaining amount of the transaction from any of the following sources: the buyer's PayPal account balance, credit or debit card. For each payment using PAD, the buyer authorises PayPal to debit the primary bank account for the full amount of the payment 21 days after the transaction date, or sooner in accordance with the buyer's instructions, or later as described in clause 8 below. PayPal will email a reminder to the buyer before the scheduled debit.
I'm assuming it'll force you into overdraw
Direct debits always put my account in overdraw even though this isn't an option on my account
That's good to know. I always put it on the card so never experienced it.
I think whether your account will be overdrawn depends on if your bank allows the direct debit transaction to go through. Might be considered as a courtesy service to customers.
@truetypezk: Westpac allows it to go through and if you make sure you are not in minus by the end of the day (literally) it is no problem.
If you can't or forget about it they charge you 9$ fee plus interest (at least that's my experience).
your paypal account goes into negative and if you dont fix up within a month they start the debt collection process. if over 150$ can affect your credit file and put a default on it.
Can confirm had this happen to me in the past. Debt collectors do contact you if the negative balance is not paid
Ok I’m assuming you can buy any item with paying straight up and have 21 days to pay it off? And no codes for eBay can be used which is the biggest bumber..
The full amount comes off your bank account at the end of the 21 day period. You can choose to pay the amount at any time before this from within Paypal. Caveat being that PayPal has to be linked to a bank account and you cannot use Ebay codes when paying using this option.
3 week Afterpay! I have been using it for years and like others mentioned:
- It is handy for cancellations
- Price Errors
- Or purchasing wipers from Uniwiper!
I use Zip Money must buy over 1 k pay on time very good terms like 3 mths interest free only $6 a mth when not fully paid off .
Thats incorrect profar. Only ZipPay has $6 a month fees. With Zip Money if you don't pay after 3 months you get charged a percentage of interest which is 19.9%
Yep, Zip do two products, Zip Pay and Zip Money. Very different terms if you're unaware.
Suggest you look at this link : https://help.zip.co/en/articles/29
Just checked my bal and was 68 c over it would have been a sheet $1 below and paying $6 a mth :)
@profar: The "interest free" with Zip Pay is a bit of a con too. Minimum repayment on $1000 is only $40 but $6 gets gobbled up in their monthly fee. So it takes nearly 30 months to pay off the grand and you end up paying around $176 in monthly fees. Essentially the same as paying an extra 17.6% on your $1000 purchase.
@whitelie: I don't use Zip Pay . Most would be better off using cashback or a discounted Egift Card .
Zip money my last purchase gave me 6 mths interest free depends on the merchant .
@whitelie: 17.6% over 30 months, that's equivalent to about what.. a 5-6% interest rate loan with no fees?
I would have guessed that would work out a lot worse to be honest.
@profar: Now that I re-read your comment I made sense of it. I guess I jumped the gun because of the lack of punctuation
Is this a deal or forums?
Forums I would have thought. I did't know payment methods were bargains or deals.
And in typical ozbargain style the post remains cos it’s from one of the “In crew”! What a joke!
Worth noting that you can't combine it with eBay codes
@ ing useless then . Agree waste of space on live page .
Maybe only Egift cards on % discounts deals only item useful with if works .
This is interesting cause I want to buy a new TV & sound system but am not sure how much to put on my debit card.
This will let me buy it then transfer the right money to my pay pal account
Taobao.com (alibaba) has been using similar mechanism since day 1. They’ll charge it and hold the fund in Alipay’s trust account and only release the funds after customer confirmation on receipt. That’s how they blew away all dodgy sellers and kicked eBay out. Very good move.
New Ebay sellers sales are held in PayPal for 21 days too .
This isn't held by paypal though, it's only debited from you after certain time = essentially credit.
escrow service
So you get your item before paying anything and have 21 days to pay correct? Is there a price limit restriction? Wonder if theres a loop hole for using any codes..
Been around for years.
This will hurt Afterpay, more upstream solution and costs merchants less. Given 80% of Afterpay's transactions are on a debit card - users should be indifferent as to whether it comes from a debit card or their bank account.
Not sure how it would hurt Afterpay seeing as it's been around much longer. Many simply don't use it or know about it.
I've never seen it advertised before to my account/anywhere, maybe they're only just rolling it out fully?
This has been around, and I've been using it, for years
Lol
Afterpay lets you split the cost into easy repayments
This is still a full payment, just due later. 4 million customers love Afterpay as it helps with budgeting
Definitely not new, been using it for at least 3-4 years, maybe more. I'm sure I read that they were canning it in the states so might not be around here much longer either.
So is this a deal or a public service announcement meant for the forums?
How can you tell if your paypal account is eligible for Pay after Delivery?
I just spoke with Paypal as the option disappeared from my paypal when I deleted a few old cards and the lady said you need the following:
1 - Bank account (has to be confirmed on the paypal account)
2 - A card of some kind that also has to be confirmed via the paypal website
3 - Good spending/repayment history.
Apparently if that doesn't work then give them a buzz as they can just activate it for you. She also said that not every merchant will want that so it may not appear on all transactions… even on Ebay…
Hope the lady was accurate in her advice.
Hope that helps.
It's an option when you go to pay for things with paypal - and paypal keep encouraging you to use it as it costs them less than paying credit card fees.
Guess this comes out worse than a credit card?
So anyone know if it works on Egift cards ?
Why would you use this when you are more protected if using a credit card + PayPal?
I'd rather be more protected than delay what I'll eventually need to pay anyway. In the case of pricing error you always get refunded anyway or you can open a dispute/charge back, plus how often is there a pricing error…
According to the terms, the entire amount of the transaction will be funded from your linked bank account, even if you have money in your PayPal account or a linked credit card.
Interesting that this deal came up just as eBay has been down for everyone, everywhere.
First time I've ever seen an eBay outage. Gonna be a lot of complaints
Doubt the outage was from this as I purchased something 3 days ago from ebay and had this option.
I have lost confidence in PayPal dispute resolution.
They don't listen and assess cases properly as they used to.
In addition to that, staff on the call centre were rude and undermine my attempt to bring the case against unauthorised charge.
I then had to resolve it through the 28 Degrees Mastercard, who listened, properly assessed and refunded the disputed amount.
Since then I have avoided using PayPal where I could.
Which items in eBay are this applicable?
I've tested a few items and cannot find this option.
According to PayPal it's merchant dependent.
Does anyone know if the merchant gets paid straight away?
If its like afterpay then they'd charge the merchant a 2 - 3% fee
I'd assume it would have to be large merchants only atm that are willing to cover the extra cost
Merchant gets the money asap. Comes out of PayPal's coffers
No charge to the merchant
I've had it available to every seller I've paid, small and big
There any icons merchants can put on their website for pay after delivery?
Since it's dependant on the buyer gaining access to it by doing whatever PayPal needs them to. It would cause confusion trying to explain this to customers
Does it cost the merchant any extra than the usual 2.6% + 30c? If not then this poops all over afterpay and zippay.
You can see if you are eligible and activate this by going into settings then payments.
Make sure you have a bank account attached to your paypal account
Who can use Pay After Delivery?
Right now, Pay After Delivery is only available to select customers. We’ll let you know if you become eligible for Pay After Delivery.
might wanna add this to the post @dealbot