Wholesale 101

On October 7th we told you about the disturbing $2,500 fine which appeared in PayPal newly revised Terms of Service.  After this news broke, the internet went crazy.  Large quantities of people claim they drained their PayPal accounts and tried to cancel them... although they quickly realized that you can never truly "cancel" your PayPal account.  Your only option is to choose to not use it.  It now appears the only way to really cancel your account is to get banned by P …

We have reported some pretty crazy USPS news in the past year, but this one is pretty interesting.  Toward the end of 2021, in Chicago, seven former U.S. Postal Service employees in the Chicago area have been charged with participating in schemes to steal credit cards and other financial instruments from the mail. The indictments are the latest charges in “Operation Cash on Delivery,” a federal investigation that previously resulted in conspiracy charges against several other former U …

Just when you thought you escaped the insane fee increases of December 2021 and January 2022, eBay dropped a major bombshell today that will go into effect in March 2022 as well as June.  Here's the details:LISTING FEES INCREASE:1. Subtitle listing upgrade fee will increase $0.50.  The increase will apply to items with an auction start price or Buy it Now price up to $150.2. For auction listings, the new fee will be $1.50. (Previously, the fee was $1)3. For fixed price listings, t …

On February 2, 2022 news broke that PayPal went on an account-closing-spree after realizing they had been scammed by "bad actors".  Here's what happened:Over the past 15 years you have likely seen financial incentives for opening a bank account.  Some banks, such as Chase offer pretty big monetary bonuses for new account owners.  I have personally seen promotions Chase runs that give as much as $250, which definitely encourages people to open their account with Chase.  So, in …

A couple months ago another FedEx employee was sent to prison for the biggest package theft case we have ever seen. What is unique about this story is that it wasn’t just stealing packages; it was essentially a crime ring! Here’s the details:Joseph Kukta was a senior manager of a FedEx facility, where he oversaw approximately 100 employees. The goal of this facility was to handle all the FedEx Ground and FedEx Home Delivery packages passing through Delmarva Peninsula, Delaware. Around 2009 Mr …