posted on December 6, 2000 11:48:46 AM new
Happened to be perusing the terms of both of these sites today. Guess what I found? (I've not received email from them regarding the changes personally, but found them right on their sites)
Summary: PayPal - Personal accounts. No longer $500/6 month CC receipt limit. Now is down to $100/1 month CC recipt limit.
ExchangePath - No longer accepting Discover or AmericanExpress credit cards. Also.. 2 day "temporary" holding period on payments to your account.
I GIVE UP! I guess I will drop accepting BOTH of these from my auctions and go back to good old Check/MO only.
Notice Date: December 6, 2000
Effective Date: December 20, 2000
In order to increase the predictability and consistency of our credit card processing costs, the Personal Account $500 limit on receiving credit card payments every six months will be changed to a $100 monthly limit. This change increases the actual limit from $1000 per year to $1200 per year. Payments funded from the sender's bank account or existing PayPal account balance will not count against the recipient's limit. At the beginning of each month, the limit will be reset to $100. Recipients exceeding the $100 limit in a given month will no longer be able to accept credit card payments unless they choose to upgrade to a Premier or Business Account. Credit card payments sent to a Personal Account in excess of the limit will be held as "pending" until the recipient chooses to accept the payment by upgrading or to return it to the sender by refusing the payment. Personal Accounts exceeding the limit will still be able to receive payments funded from a bank account or existing PayPal account balance.
ExchangePath:
New Policy Regarding Credit Card Types (12/5/2000)
We have recently limited the card types we accept.
ExchangePath may be funded only through a valid MasterCard® card, VISA® card or Diners Club International® card.
To update your account, please select "Change Profile" from the "My Account" page to update your information.
Important new changes to your account! (12/5/2000)
In addition, please note: Funds from send money transactions may be pending for up to two days before they will be available in the recipient's account. We appreciate your patience and support. This procedure is temporary.
posted on December 6, 2000 12:17:50 PM new
Re PayPal: $100/month works out to $600/6 months, which is $100 more than $500/6 months, so it's actually in our favor. But it also means we can't have one month of heavy activity and then go easy for awhile. *sigh*
This is getting 'way too complicated.
posted on December 6, 2000 12:36:37 PM new
Even though $100/month is "more", I'd rather have $500 every 6 months. $100 per calendar month is too restrictive.
I am keeping my personal PayPal account for the SMALL $ value items I sell, that I would be dinged with 30 cent + 10 cent transaction fees on $4.00 CC charge (yes, I have TONS of items selling in the $3.50 to $5 range with shipping included in that amount.. over 300 in the last month alone).
I steer all of my big item (or multi item)winners to ExchangePath or check/money order, or at least existing PayPal funds to keep from using up my $500 credit.
This is bad because I was planning on using the free listing day tomorrow to list 200 more low $ value items (cleaning out what I have been promising myself to do for the last 3 years), but now with all these new restrictions taking effect immediately or in 3 days following a 10 day auction end, it looks less likely I'm going to do this.
posted on December 6, 2000 12:44:57 PM new
Do the math----It appears that100/mo means you MUST have a premier acct - as SOON as you reach the 100.00 that month andso-on andso-on andso-on
Are they all NUTS??
The first 100.01 would cancel the 500 month total of course only if your middle name is "fred" - you were born on a tuesday while the moon was in Leo and your mother knew the secret word on the old Groucho Marx show..............
posted on December 6, 2000 11:34:43 PM new
to mrlatenight: If some of your auctions accept PayPal and other auctions don't accept PayPal, does PayPal automatically add the PayPal logos to all your auctions? And if the PayPal logo is added to the auction that you do not accept PayPal and the bidder pays through PayPal, do you accept the PayPal payment?
Is it possible to keep the PayPal personal account by limiting PayPal payments to under $100.00 per month and running the other auctions without accepting PayPal?
posted on December 7, 2000 05:50:34 AM new
well, hmmm. I currently have about $225 sitting in my Personal account "limit". I assume the changes mean that at some point this amount will magically change to $100. I'm not overly worried because my customers have been so good about listening to my TOS which says I take non-credit card PayPal payments only. But frankly, a $200 buffer felt better than a $100. Guess I'll just see how it goes, as usual...
posted on December 7, 2000 01:09:38 PM new
The next logical step is for them to go to a daily limit. If you receive more thant $4 on any one day, you will be forced to upgrade. But this is a good thing, because it works out to $700+ every six months.
Or maybe an hourly limit. I mean, anyone who generates more than 25 cents in payments in any one hour must be a business, right?
posted on December 7, 2000 05:26:58 PM new
I think you got the next step for PayPal TOS and limit changes wrong.
Here is How I see It I just went through this with X.com there next step isnt the $4 per day which would be $700 in 6 months there next step to make money is to change the TOS like this.
Febuary1 all payPal business accounts that dont have a $100 balance all month will be billed a $12 service charge on there credit card or to there verifide checking account.
Then About Mid March you will see a TOS that says as of Apirl 1 paypal will be terminateing all personal accounts.
This is there next steps in makeing there fees and profits predictable and consistent
