I hope Paypal dies a slow, agonizing death, because they deserve it. There is an article linked below, but first my current tale of woe:
I've been downloading Paypal monthly PDF account statements, every month, for over seven years now (I've been a user since 2009). However, with the most recent web site update, the menu choice for downloading statements is gone. The Help instructions state that the menu choice is still there, but it's not. It's not me or my browser, I've confirmed in the "community" section of Paypal that others have had the same problem. They just screwed up an extremely basic web site function with their last update.
However, you cannot report this problem online. Absolutely not. To report a problem you must select from a restrictive list of items, there is no other option for anything not already on their list. To find the the phone contact number, you actually must log out, it is completely inaccessible when logged in. Then, they grossly mislead you on the phone queue wait time (I was told over one hour, when in fact it was a minute or less, which resulted in my first call being disconnected and I had to start all over again). When I finally got through, the operator had no knowledge of the problem, and said someone would send me an October statement by email in a few days.
None of these problems are emergencies, of course, but clear signs of a company that really does not care at all about its customers.
Beyond their horrible customer service, there is this:
The Looming Existential Crisis for PayPal
"A $1000 payment to a merchant using PayPal costs over $29. The same payment using a tokenized dollar riding the Ethereum platform today costs less than 20 cents. Not quite free, but a savings of over 99%. How’s that for disruption? Or an existential crisis for the $100b Wall Street darling that makes 90% of its revenues from transaction fees?"
[note: Intuit Quickbooks payments costs $1 flat fee for an ACH transaction]
"Being in the online payments business today is similar to being in the pager business in the 90s. "
"With PayPal stock trading near all time highs and up 50% in the last 12 months, now is the time to sell." [note: it's still up, but not 50% as of today's date]