PayPal vs. Western Union?

[RaTeL]

I recently received achargeback when using PayPal an ended up losing the dipute and having a negative balance. I have noticed a lot of people use Western Union and say it is safer. Can someone please explain the difference cause I am sick of PayPal and getting scammed.

 

[Swin]

PayPal vs Western Union
Western union, PayPal and Alert pay are some of the many international money transfer technologies available now. These technologies help in transferring money from one part of the world to different parts of the world with ease and within no time. The transfer of money through these technologies has various advantages one of which is that it is secure and saves time.
PayPal
PayPal is a type of e-business through which people can pay or receive money online, if having PayPal account. It saves time because the online payments are much quicker than clearing of checks (cheques). A person can fund PayPal account with bank debit card and credit card if needed. To make an account on PayPal is free and sometimes they charge a fee, if a particular account is wanted. There is a set fee on online transfers through PayPal which is deducted by the company. People can pay on stores where they allow payment through PayPal without even having a credit card.
Western Union
This is a company which is based in United States and it provides financial and communicational services. The basic theme of this organization is to help people transfer their money from one country to another country. They help people transfer money from banks in a country to the other banks in the recipient’s country. Western Union is operating in approximately over 200 countries and territories worldwide. As it is a method of hundreds of years before so it is rusted in most parts of the world. Western Union is now very common and people prefer it over other facilities of money transfer.
Difference between PayPal and Western Union
The main difference between the western union and PayPal is in its business model, PayPal is mainly for e-business; it is a mode of payment that facilitates payment on the internet, though money transfer also part of its business. On the other hand Western Union’s main business is money transfer.
PayPal requires accounts with them to send and receive money and cannot be done through agents, whereas Western union does not require to hold any account with them to send or receive money and money transfer can be done through agents as well.
Money in PayPal account cannot be liquidated in the form of cash before it is transferred to a bank and then we can cash the money out. Through the service of Western union we can easily get money in cash form or whatever form we want our money to be. This is an advantage of Western union over PayPal.
Both ways of transferring money are secure enough. Western Union is available in every part of the world whereas PayPal is available in selected parts of the world.

'

Source: http://www.differencebetween.com/difference-between-paypal-and-western-union/

Hope this helped.

 

[RaTeL]

I am more wondering what makes it safer when it comes to selling virtual goods. Like can they Chargeback/dispute like people do on PayPal?

 

[RsProd]

When selling goods through western union, as long as you have picked up the cash IRL, it CANNOT be chargedback. It's 100% safe, but the fees are enormous.

 

[aus aaz]

@swin im quite sure he was asking about the difference between paypal an wu in regards to scamming, chargebacks and the overall saftey , your google/copy paste job didn't even touch on that subject at all.

To the OP: in all honesty paypay should be your last resort as a seller try and avoid dealing with paypal offers only. If you go thro player auctions you use paypal but they act as a MM and take responsibility for chargebacks so both the seller and buyer are safe.

In regards to WU, if used correctly it's 100% safe, by correctly I mean OMM + not handing over goods till you have the money in your hand. Works everytime.. Although remember they (the buyer) can cancel payments before they are picked up buy the seller.

 

[malakadang]

Here are the differences in dot point.

PayPal:

Pros:

- Conveinient.
- Low Fees.
- Good for lots of orders

Cons:

- Chargebacks.
- Account Limitations.
- You can lose your money because of the above 2.

Western Union:

Pros:

- 100%, when you pick up the money, it cannot under any circumstance be charge backed.
- Relatively anonymous.
- NO CHARGEBACKS.

Cons:

- Inconvenient.
- High Fees.
- Trades take longer as a result.

Overall verdict.

If you are a bulk seller/buyer, I would strongly suggest WU, as it trumps PayPal. You may be off put by its high fees, but lets face it. Would you rather receive 800 $ and pay $200 fees, or receive $1,000 and lose it all?

For PayPal, if you set up a Player Auctions shop, and can prove your identity to be above 18, and you do a lot of smallish trades, then the convenience is there and is suited perfectly for that, and Player Auctions combats the charge back almost entirely.

 

[letsrenovate]

With Paypal, as you know, you can send and receive money within seconds relatively easily. It's the reason that most people use it. However, unless you really trust your buyer then it's risky. Although chargebacks usually occur through credit card funded transactions, disputes and holds can be made on any form and so you are almost always at risk. Paypal also tends to side with buyers. So unless you have a confirmation paper that proves you've sent the goods or you have a delivery address (none of which really apply to virtual item selling), then you will most likely lose the dispute.

With Western Union, the buyer has to physically walk to the WU branch, fill out a form, and have the money be sent. The fees, as mentioned, are relatively high (up to 10%). The one receiving the money has to then physically walk to the WU branch to pick up the money after being given the proper information from the buyer. Once the money is picked up, there is no way that it can be returned or disputed. For this reason, WU is a much safer option. However, in certain cases the fees and inconvenience may be too high to make the deal worth it, so people try to look for other options (playerauctions, moneybookers, bank wire transfers, etc).

 

[Trophium]

PlayerAu is safer, no chargeback there.

 

[TDG Best]

Western Union ALL THE WAY on high trades, on low trades you can use PA or just paypal. My opinion tho.

 

[kxracer1219]

Information Regarding Both:

Western Union:

The Western Union Company (NYSE: WU) is a financial services and communications company based in the United States. Its North American headquarters is in Englewood, Colorado, United States, and its international marketing and commercial services headquarters are in Montvale, New Jersey. Until it discontinued the service, Western Union was the best known US company in the business of exchanging telegrams.
Western Union has a number of divisions, with products such as person-to-person money transfer, money orders, and commercial services. As of May 27, 2010, the company has more than 410,000 Western Union agent locations in over 240 countries and territories. Reported revenues top US$5 billion annually.

Paypal

PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to traditional paper methods such as cheques and money orders.
A PayPal account can be funded with an electronic debit from a bank account or by a credit card. The recipient of a PayPal transfer can either request a cheque from PayPal, establish their own PayPal deposit account or request a transfer to their bank account.
PayPal performs payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It may also charge a fee for receiving money, proportional to the amount received. The fees depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type.[2] In addition, eBay purchases made by credit card through PayPal may incur extra fees if the buyer and seller use different currencies.
On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. Its corporate headquarters are in San Jose, California, United States at eBay's North First Street satellite office campus. The company also has significant operations in Omaha, Nebraska; Scottsdale, Arizona; and Austin, Texas in the U.S., Chennai, Dublin, Kleinmachnow (near Berlin) and Tel-Aviv. As of July 2007, across Europe, PayPal also operates as a Luxembourg-based bank.
On March 17, 2010, PayPal entered into an agreement with China UnionPay (CUP), China's bankcard association, to allow Chinese consumers to use PayPal to shop online.PayPal is planning to expand its workforce in Asia to 2,000 by the end of the year 2010.Between December 4–9, 2010, PayPal services were disrupted due to denial-of-service attacks organized by Anonymous in retaliation for PayPal's decision to freeze the account of WikiLeaks citing terms of use violations over the publication of leaked US diplomatic cables.

 

[neloza]

WU for high dollar trades and PayPal for smaller trades. I've used both and stick mainly to PayPal since my transactions rarely go above $100. But WU is way better for larger transactions where more is at risk.

 

RSProd hit it spot on. Also the hassle of having to drive out to a WU drives many people away from the idea of using it.

 

[Belmin]

I'd say wu.

 

[loveyoass1]

Id say paypal, cuz im not sure if in WU u can transfer money through the internet, but stil im more familiar with PP

 

[Camera]

I'd say WU because it's so much safer.

 

[__ProdigY]

I'm planning to sell some of my items soon and will probably prefer WU