posted on January 9, 2004 03:49:42 PM new
I've been using PayPal as my primary source for my customers to render payment online. However recently I've heard a number of "Horror" stories from people who have burned via PayPal. My question is, do you guys think I should cancel my PayPal account and open a BidPay account. Do you guys think doing this this will drive down the price of the items I sell online because the PayPal option isn't available in my listings?
I don't want to "piss" my customers off by not having this option for rendering payment available. I also understand that the "Buyers", are responsible for any Bidpay fees not the seller which might tick them off as well. Any suggestions would be greatly appreciated(:
Thanks,
Ryan
You can offer both PayPal and BidPay at the same time. If you find that more customers are using BidPay, you can always stop offering PayPal and stick to BidPay.
posted on January 9, 2004 05:12:54 PM new
I have read the horror stories and yes they happen. So don't leave your money in PayPal. I set up a checking account (free one) and each week after I ship out my good paid for, I transfer my funds to my checking account. I don't leave more than $100 in PayPal.
99% of my customers use PayPal so I use it. I just don't let them hold my money!!!
posted on January 10, 2004 03:02:15 PM new
PayPal is to on-line payments what eBay is to on-line auctions (which is why it's no surprised that eBay bought them).
You can offer all the services you want, but if you want the one that people are actually using, then continue to offer PayPal.
Remember that horror stories are told, every day business-as-usual stories are not. So if you're going to hear any stories, you'll be hearing the bad ones.
We've sold full-time on eBay for 4 years and we've used PayPal for as long as they've been available to us. We've never had one problem, but I agree with the other poster that we don't let money sit in our PayPal account. We pull it out daily and send it right into our checking account.
BidPay is great for international bidders (although more countries are using PayPal now), but I can't imagine why a US customer would use it.
posted on January 10, 2004 05:11:24 PM new
I agree with what your doing, by not "leaving Any Money", in your Paypal account. However what about the following scenario.
Let's say you have a customer who files a fradulent claim with Paypal. I've heard where Paypal can go directly into your checking account and take money from either there or you credit card on file with them...scary. What if it's a $500.00-$1000 transaction that would really stink. I think the best soloution is as follows.
Why not have a $100.00 checking account as you mentioned. After transfering money voia Paypal into that account, then transfer that money into another account which isn't on file with Paypal. I think it's alot easier to "Contest" a fradulent claim on your credit card, then it would be with your bank if Paypal took money directly out of your Bank Account. Does any one know if there's any fees associated with transfering money from one checking account to another?
Thanks,
Ryan
