Wednesday, February 25, 2004

PayPal guarantees eBay auctions up to £250

Planet Multimedia reports on a ZDNet-article that informs us that Paypal will protect its UK EBay buyers by launching a buyer-protection fee that gives customers £250 of insurance.

At first sight this looks great, but it should be noted that the PayPal Buyer Protection Programme is only available on transactions involving sellers who have sold at least fifty items and who have a 98 per cent positive feedback rating. Qualified sellers are indicated with a Buyer Protection logo at eBay, but buyers must use PayPal to settle to qualify for protection.

In other cases, eBay's standard purchase protection programme offers up to £120 of coverage with a £15 processing fee.