dick471
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posted on October 5, 2000 08:44:51 PM
I joined PayPal.co last october/november and had a $5000.00 line of credit using my credit card. Everything was great. I'm NOT a business but I buy a lot. Maybe $15,000.00 from Oct to when Xcom. bought PayPal.com. As soon as they were purchased I noticed I was reduced to $2000.00 for a six months period. This sucks!! I ran out of funds in a month and they insisted I open my account for direct tranfers from my bank account or send Cashier's check. I sent a $1000.00 cashier's check and it took two weeks for the credit to appear. My bank said to NOT give my account to ANYONE-PERIOD. Other than stocks and bonds, all of my retirement money in in my bank account and there is no way I'm trusting PayPal.com with my bank account number when they DON'T trust my credit card!!! I'm just an individual but I do buy a lot (NOT FOR RESALE). Maybe someone will start a replacement for PayPal.com, and I don't care if this new outfit charges me a fee for using my credit card. To me PayPal.com DID NOT live up to it's promise. Period..Dick Johnson, Lakeport, Ca
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nomorefees
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posted on October 5, 2000 08:57:36 PM
There is a very good replacement - PayPlace.com and you could use paydirect from yahoo. A lot of sellers are not set up on these yet. But with all the ill will that paypal has generated these will be big very fast. I know a lot of sellers that have dropped paypal all together and many more are signing up with paypal's competition and offering it. If a seller doesn't offer PayPlace write them and ask them to sign up - you might get a referal bonus that you no longer get with a personal paypal account!
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dick471
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posted on October 5, 2000 09:15:16 PM
NOMOREFEES: Thank you very much. I didn't know there were others out there except BillPoint. I will look into the others. Thanks again
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godfrey94
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posted on October 5, 2000 09:21:21 PM
Dick - That happened to me too!! ARGH. Now that I have exceeded my $2000.00 in 180 days I have had to tranfer funds into my Paypal account. The thing that ticks me off is that my bank processes the tranfer in a matter of hours but Paypal does not make it accessable for 7 - count them 7 days! My question is what are they doing with my money for the other six days that they are holding it?? I admit the Paypal is really convienient but after having to verify my account and all the other BS I am really put off by these services in general. The new ones will all be free for now but soon enough they will have to start doing all the same BS Paypal is doing. I am hoping that more sellers will start accepting Billpiont because there are no purchase limits or other petty constraints.*big sigh*
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dick471
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posted on October 5, 2000 09:29:35 PM
Billpoint is great but very few people use it yet. I'm just tired of going to the post office for money orders three times a week after colon surgery. Maybe I should quit buying camera equipment??? Dick471 ([email protected])
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outoftheblue
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posted on October 5, 2000 10:10:29 PM
dick471
There's probably more people using it than you think. We have a Billpoint account but only recently included the information in our auctions. You may want to ask the seller if they accept Billpoint.
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Islander
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posted on October 5, 2000 11:45:06 PM
"you might get a referal bonus that you no longer get with a personal paypal account!" (excerpt from nomorefees above).
PayPal still lists the $5 referral and signup bonus with their Personal Accounts -- what am I missing here?
https://secure.paypal.x.com/cgi-bin/webscr?cmd=p/gen/personal_vs_business-outside
I'm using all this hot discussion to motivate me to research the other options. So far, BillPoint looks more expensive. One question, though, what do you have to do in sales to qualify for a Merchant Account? Some time ago, I saw the figures, but now I can't find them.
I have a feeling that when X.com took over PayPal, they had to make adjustments to policies that were bound to put the business in bankruptcy if they continued. To wit: if PayPal was giving a member a $5000 credit line (using what I assume is another bank's credit card), they paid a fee every time the buyer transferred money from the credit card into the PayPal account, without ever collecting money/fees from the buyer. Without any kind of limit on the activity, the charges would far surpass any float-generated income they might see.
BTW I'm hoping all of this discussion causes the participants to think twice before whipping out a debit or credit card in a small business for a little purchase (say under $15). Remember, the merchant is paying a fee on the purchase you're making, and the smaller the purchase, the more impact there is on the merchant in the long run. Fee schedules from the processing companies (in the non-cyber world) are adjusted for each merchant based on their total sales and their average ticket. Merchants are also paying for your frequent flyer miles, new-car-buying points, Discover card rebates, and anything else the card co. promises you for using their card. (Sorry, off the subject, I know. Getting punchy at almost-midnight! 
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godfrey94
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posted on October 6, 2000 12:08:28 AM
Islander actually the consumer pays the fees - merchants pass the addional cost along to us the consumer. Fees are a part of doing business.
As for billpoints fees I thought they lowered the per transaction costs and %'s.
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magazine_guy
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posted on October 6, 2000 12:09:10 AM
The PayPal referral program is ending for Personal accounts in a few days (Oct. 9th, I think they indicated). For all practical purposed, it ended in the middle of September, when they started requiring that the new referral accounts be VERIFIED before you get your $5. Most of my referrals were buyers, who don't want to get verified- they just want to pay for their widget. And they have no interest in giving PayPal their bank account info.
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outoftheblue
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posted on October 6, 2000 12:46:14 AM
"what do you have to do in sales to qualify for a Merchant Account?"
I'm not sure but I think someone mentioned $1000 per month. Feel free to correct me if I am wrong.
Billpoint is clearly less expensive if someone pays by electronic check/bank account debit. 0.5% compared to 1.9% for paypal.
[ edited by outoftheblue on Oct 6, 2000 12:53 AM ]
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godfrey94
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posted on October 6, 2000 01:03:53 AM
If I remeber correctly when you sign up it calculates your sales and based on that Billpiont decides if you get a personal or merchant account ... I just browsed the site but I can't find the need info. The personal accounts are only allowed a $500.00 per transaction maximum. I signed up for it when it first came out and I don't remeber all the details. I hope this helps.
[ edited by godfrey94 on Oct 6, 2000 01:05 AM ]
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akt
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posted on October 6, 2000 02:45:26 AM
Check out www.exchangepath.com
They accept the following cards
Visa® card, MasterCard® card, Discover® card, JCB® card, Diners Club International® card.
American Express® charge card.
Visa card and MasterCard card
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abingdoncomputers
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posted on October 6, 2000 05:21:48 AM
ExchangePath is the way to go...
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macandjan
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posted on October 6, 2000 05:28:11 AM
Obviously they still have the mindset that
this is just a bunch of people selling garage sale stuff. I just sold a Porsche 928 and most of my sale s are to industrial customers for metal working.
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