WARNING to anyone who uses the "Bill me Later" feature at Pay Pal (or anywhere else it is accepted). Pay close attention when you check out because BML can reject the charge and pass it back to your primary account without warning. So say for example you were to make that purchase of a nice used boat motor on Ebay for $800 (you have a credit line with BML of $2400), they could deny the charge without warning and put it against your checking account (which only has $798 after the bills). Not to worry because if you have been with Ebay for a time and are confirmed, they will send the money without checking your account for sufficient funds. Once again not to worry (according to a young Asian lady at Ebay customer service) because they will then just put it on your back up card. Unfortunately, if you are like most of the real world, this is going to be your debit card from the same account. As you can see, the bounced fees start to add up fast not to mention the destruction of your good credit rating.
The worst part of all this is when you contact BML to inquire as to what happened, they inform you in a most pleasant tone that it is nothing to worry about because of all the above. When you point out the obvious faults in their logic and request to speak to someone in the credit department, they state it will take 4 business days to resolve and the committee that handles claims does not accept any incoming call or return any outgoing calls.
They say "LET THE BUYER BEWARE" and in the case of "Bill me later", it could not be truer. Please pass this along so as few of my friends and fellow human beings as possible will have to face the mess I dealt with all yesterday morning.
I went thought the exact same thing. DO NOT USE this company. My experience with them was such a nightmare. I contacted BML as to why my payment was rejected and they put the blame on my bank account. I called my bank account and they put the blame on BML. I finally had to conference a 3 way call with BML, my bank account AND Paypal to get to the bottom of it. Once I did that a rep from BML got in touch with her "manager" and said on that day there were some internal system errors and that is why the payment was rejected. Ultimately all they could offer me was an apology. When I read this review I called back and asked it would effect my credit score. They said they only report to the Federal Business Bureau on a monthly basis and since I caught the mistake and there was no penalties on my account I will not have a problem. Bottom line is there is nothing I could do. I made my payment and closed my account with them. Worst experience ever.
We are sorry to hear you had a negative experience. In the example you provided it sounds like Bill Me Later was the 1st funding source selected through Paypal. We have many security policies in place, and if one of those is tripped the transaction will be declined.
After the decline, in the example, it sounds like Paypal turned to the backup funding source, a checking account. To change your back up funding source please contact Paypal.
When a transaction is declined we ask that you give us a call at 866-528-3733 so we can investigate the matter.
Again, we are very sorry for the frustration you have expressed.
I had a very bad experience with Bill Me Later. I bought a product from ebay 3 mothns ago using paypal, and I recenlty found out that Bill Me Later took care of the payment. I didn't even get any mails or e-mail notification. And now they want me to pay $130 for a $42.99 item. They wouldn't even wave the late fee off. This is clearly not my fault because I transferred money from my bank account and paid it with my paypal account, and for some reason bill me later took care of it without letting me know about it. Plus the customer service is very bad there. I made them cancel my bill me later account. Such a rip off.
Thanks for asking!
Bill Me Later is available as a funding source at most merchants where PayPal is accepted, and our number of participating PayPal merchants grow every day. You can also use Bill Me Later on eBay with any participating seller.
There is no monthly or annual fee to use Bill Me Later.
Nicole- thanks for your reply, but you really didn't answer my question. I have used Bill Me later and as long as you really do pay it on time it is a good deal.
But I was sure I read something in the last month or so that you were going to charge a small fee when a purchase was made using Bill Me Later.
I realize there is no monthly or annual fee, but i thought I saw this was a once per transaction fee. Now I cant even remember what the amount was.
Is there or is there not a one time transaction fee?
You may be thinking of the 2% installment Purchase Transaction fee. This fee only applies to transactions that involve a broken down payment plan. An example is “pay 3 installments of $19.99” this example would be subject to the 2% Installment Purchase Transaction Fee.
Or the Send Money fee . When you use Bill Me Later to send money with PayPal, a flat fee of 2.9% + $.30 US dollars (USD) per transaction is included in your payment total. This is the same fee you pay when you use a debit or credit card to send money through PayPal.
Nicole- thanks for clearing that up, thats the trouble when someone like me doesnt really pay attention to what they are reading.
Like any of these deals, it is only a good deal if you really do pay it off. So I would say to someone interested in using it that you should only use it if you are organized enough to pay it off on time. The big home improvement stores offer similar arrangements with no interest for 12 Months on large purchases and it can be helpful.
I would never use bill me later! I made a purchase with last month and when I was checking out I saw Bill Me Later & clicked on the terms. It said if I spent a certain amount that it would be 6 months no interest & no payments. So, I thought why not? Anyways this week I received my statement saying that my minimum payment was $25 & I needed to pay the entire amount by the payment date to avoid interest. So, I e-mailed them to let them know that when I ordered it said 6 months no interest & no payments & they responded & said they did not have any such deal with 1800petmeds. Well, I e-mailed them back and told them I had a picture of the 1800petmeds website with the offer on it & I could e-mail them so they could see & that I didn't feel I should have to pay since it said I wouldn't have to. Then, I got an e-mail saying We have received the promotional terms request regarding your Bill Me Later Account. Once our research is complete, you will receive an email notification. Two minutes later I got another e-mail saying The promotional terms request that was submitted has been completed. The changes, if any, to your Bill Me Later Account will be posted within 24-48 hours. So, I waited over the 48 hours & checked and there is no changes to my account.
I have a BML credit of $400 and it was declined today and I have no idea why "your Bill Me Later payment was declined" was one and the other one was "Looks like we're unable to authorize your purchase using Bill Me Later®." I don't understand... if I have an allotted credit amount why can't I make my purchase. I committed to buy $60 worth of items and now I cannot and I am very displeased.
Thank you for posting this I live so tight I squeak as a signal mom and can not afford this kind of thing to happen. I am starting to wonder if the general thinking is that everyone has extra money to take form family's. As if we hide money in the walls or something. LOL I am so glad I read this before I was tempted to use it . Thank you!