Rebels strike back at eBay and PayPal through Australian banks

by Alex Zaharov-Reutt

Thursday, 10 July 2008

Page 3 of 5 Following this letter is a note sent to other eBay members likewise concerned over the safety of the Direct Deposit system. The note says: “I spoke with the CBA and they encouraged me to write to the CEO and if every other bank receives similar enquiries, they will have to publicly comment, or at least investigate it at the Bankers Association type level.  “The Bankers Association put in a major ACCC submission, so get writing to your bank and ask them to assure you that DD is still safe, in contradiction to eBay's propaganda.  Eventually they may have to reassure their customers publicly. “There is a rumour that a major bank is considering legal action against PayPal for removing funds from its customers' accounts and bankcards without authority or redress to their account holders...that got me thinking....and it seemed to me that PayPal were using misleading propaganda to take business from the banks. They don't like that much. Every little bit helps....we buy, we sell, we pay taxes and WE VOTE !!!”   The CBA’s submission to the ACCC is then partially quoted as follows: “The payment systems underlying bank transfers are robust, safe and efficient. Our customers have the assurance that payments will be made as directed. “We believe it is preferable for customers (buyers and sellers) to be able to choose the most appropriate payment method, and to artificially limit such choice is unnecessarily restrictive. “Forcing customers to adopt higher cost payment methods, that bring economic benefit to eBay / PayPal, is an unwarranted restriction of competition that falls short of any reasonable test of public benefit.  It also contradicts current payment system reform sentiments. “The Bank is aware of submissions on this issue being lodged by other payments industry bodies of which we are a member. We support such submissions and commend them to the Commission. “Finally, we understand that this Submission will be placed on the Commission's public website. “Thank you again for the opportunity to contribute to this debate. Please feel free to contact me should you wish to discuss any aspect of this Submission. My contact details are above. “Yours sincerely Stuart Woodward General Manager Representation”   Continued on page 4.   << First page <   1 2 3 4 5 Next page > Last page - Post your comment >>

 

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