Paypal Settlement

So i got my USD $8.00 today. whoptee doo. I filled out the 'short form' claim form thingy.

Anyone else got theirs?

PS. Anyone want my 8 bucks? That's 8 legal tracks from iTMS !!
... i am not in the us anymore so without a us bank account or credit card, you cant even send the money anywhere... no wonder paypal settled. they suck.

you want my 8bucks dude? go spend it on something at a Goodwill shop or one of those thingys in the bay area

um sorry mate, it's too late to join the class action thingy. but here's da background. edit: link here:
http://www.settlement4onlinepayments.com/

how come the other poster -- you got 16 bucks!!???! *shakes fist*

edit:
thank you, the paypal account i have listed has been claimed and password appears to have been changed by the person that claimed it.

i have also now deleted the gmail account paypalsucksballs@gmail.com

...just to be on the safe side for all parties involved.

here goes...
In March 2002, a class action lawsuit was filed against PayPal, Inc. in the United States District Court for the Northern District of California in San Jose, California. The lawsuit alleged that PayPal violated a federal statute, entitled the Electronic Fund Transfer Act ("EFTA"), 15 U.S.C. §§ 1693 et seq., including provisions requiring PayPal to supply customers with information about dispute resolution procedures and to follow certain procedures when investigating complaints of unauthorized or incorrect electronic fund transfers.

For example, the lawsuit claims that PayPal did not provide account statements in the manner required by the EFTA. The lawsuit further alleges that PayPal has placed inappropriate restrictions or other limits on customers' accounts and engaged in other improper practices. Based on these practices, in addition to the claim under the EFTA, the lawsuit asserts claims under California state law for conversion, money had and received, negligence, and violations of consumer protection statutes.

PayPal does not believe that it did anything wrong. In fact, PayPal disputes that the EFTA, originally passed in 1978 applies to its business. PayPal denies any and all liability for the claims alleged in the lawsuit.


The parties to the action reached a Settlement ..... Under the terms of the proposed Settlement if you opened a PayPal account between October 1, 1999 and January 31, 2004, you may be included in the Settlement Class [action and entitled to payment]

....
On November 2, 2004, the District Court granted final approval of the Settlement. The judgment in this Settlement is now final. In accordance with the Notice and the Court's orders, the claims period for the In re PayPal Litigation Settlement ended on October 23, 2004 at midnight. At this time, the claims period IS CLOSED.
.....

"For example, the lawsuit claims that PayPal did not provide account statements in the manner required by the EFTA. The lawsuit further alleges that PayPal has placed inappropriate restrictions or other limits on customers' accounts and engaged in other improper practices. Based on these practices, in addition to the claim under the EFTA, the lawsuit asserts claims under California state law for conversion, money had and received, negligence, and violations of consumer protection statutes."

people didn't / don't like the fees they charged, lack of giving you timely statements, in some cases money was 'locked' away for months on end while they "investigated fraud", no interest was being earned.... accounts were too restricted in terms of how much you can send/ etc...

well, there were two ways to join the class action, long form and short form. long form is if you had a specific case you could get a lot more money in damages.

the short form is basically a fund of $1million dollars divided by all the short form claimants. in this case, it looks like 125,000 people that got $8.00

i have had a paypal account for a few years before, during and through the class action. i believe that in using the paypal account they charged some fees that, should the class action succeed, i will accept the money. so i signed on.

has paypal harmed me? not physically. have they been a pain in the ass? most definitely. my main gripes are restrictions of sending and receiving limits, conversion fees, and withdrawal fees. do i support the more extreme cases where people have had their funds locked up for months without resolution? yes, i support those people and hope they have got more than just $8 for compensation.

will i use paypal in the future? not very likely. i'd rather just take the bank's TT (wire transfer) $20 fee for big currency transfers.

remember a lot of my issues are also because paypal, a global service, has severe restrictions that make it only really useful if one is living in the us.

how much did i get? usd $8.
who has it now? some other appleinsider has claimed it and i'd rather him enjoy a beer or two courtesy of paypal.

maybe it's a bit too cliched with the 'fight the big corporate power', but eBay and payPal have fucked up in certain ways in the past several years and i feel that the payPal settlement is a reasonable way that ordinary people get some compensation and payPal and eBay become aware of customer dissatisfaction.

did i want to get lots of money without doing much? also yes, at a time when i thought it was a lucky break for me.

did that work out? apparently not.

fair enough. like i said there is an element of me wanting to cash in, july 2004 last year i was not in great emotional and financial shape

but i have taken my fair share of paypal fees up the ass...... \

sorry mate, see my post above, it has been claimed already