posted on March 20, 2002 03:43:54 AM new
Been using PayPal.com but want to give BillPoint a try. I do a lot of business and with PayPal not receiving good press of late I think its time to have a backup.
So here are a few questions:
1) Does BillPoint hold funds in your account until you tell them to transfer them to your bank? (simular to Paypals "withdraw".
2) If BillPoint simply sends the money to your bank account do they batch up all the payments for a day and do your entire days receipts in one transaction? Example, I might receive 50 payments in one day, will there be 50 transfers to my bank account or just 1 transfer for the entire day?
posted on March 20, 2002 03:51:22 AM new
Billpoint holds the money for 5 or 7 days cannot remember then sends all the money for that day at ONCE to your bank account. At first I found this a little annoying all the deposits in your bank. Then I realized that you are not storing funds in say paypal for them to FREEZE your account or someone to hack in.
Once I got used to it which I have now I love BIllpoint.
posted on March 20, 2002 04:07:34 AM new
Ok, not too bad.
Does eBay send you an email telling you the total of that deposit?
Also can I use BillPoint to accept payments on auctions that have already ended but didn't selecet "BillPoint" as a payment option? Example, I have a bunch of auctions ending tonight, would I be able to instruct the Winners to use BillPoint on these?
posted on March 20, 2002 05:11:20 AM new
yes i believe so....the best thing i personally think about billpoint is the fact you can get the winning bidder to use the checkout feature most times they pay for the item within minutes of auction end.
posted on March 20, 2002 05:25:47 AM new
BillPoint does NOT hold your money for 5-7 days before depositing. In many cases, it is transferred to your account the very next day. Now it may take your bank a bit to get it into your account, but BP does a daily sweep of accounts.
BillPoint does NOT send you an email telling you the amount. YOu can look this up in your deposit history on BP.
You CAN use BP for any transaction, but using the "send invoice" section. Doesn't even have to be for an ebay purchase.
posted on March 20, 2002 05:49:09 AM new
I absolutley LOVE Billpoint !!! They often do deposit your $ directly into your account the next day , but usually within 48 hours . If someone is paying with e-check instead of a credit card, then in such an event it'll take 5 -7 days, then they deposit your $ as soon as the check clears >: ) . I'm new to Paypal and I like the service so far, but I prefer Billpoint .
posted on March 20, 2002 06:35:41 AM new
billpoint does deposit funds into your account the next day,but there is a 1/2% transfer fee over and above the discount and transaction fee .
billpoint can be rather highhanded when it comes to chargeback and the chargeback fee is 15 dollars.
the total fee is higher than paypal-discount,transaction and transfer fee.
posted on March 20, 2002 07:28:19 AM new
I use both Paypal and Billpoint since 80% of my customers are signed up for one or the other, sometimes both.
As both buyer and seller I find they both are easy to use and reliable.
They also charge less commission than I paid traditional processing services for sales through my retail stores. In fact, my original merchant card service company still doesn't want anything to do with online sales. So without Paypal I would have been out of luck.
Billpoint at first was by invitation only, so that is why PayPal has such a lead in online processing. I have never forgiven Billpoint and ebay for their uneven policies.
Also, watch Billpoint on chargebacks. Until recently any chargeback was honored by them even if you had proof of shipment, and they charged a service fee on top of the refund.
It was only after constant hounding and begging that they have now instituted some seller protection, but the difficulty in getting them to face up to the problem demonstrates how seller unfriendly they really are.
It is new and untested, so I am watching these boards to see if the chargeback procedure has changed. In the past they wouldn't even ask the seller about a chargeback, they'd just give it.
So if you are selling in a category that is rife with problems, I would avoid Billpoint. Fortunately I sell in an area that has virtually no fraud problems.
[ edited by litlux on Mar 20, 2002 07:38 AM ]
posted on March 20, 2002 08:01:11 AM new
i also sign up with propay recently and i just received an email saying if i ship overseas,i risk having to pony up reserve or have my account closed.
i am not as comfortable with billpoint as paypal,may be i just dont do as much business with billpoint,also note you can make changes to bank account information and they dont ask you to verify it.
yes,watch out for chargeback,billpoint is ruthless .
posted on March 20, 2002 07:15:45 PM new
I use to have both PayPal and BillPoint – I finally cancelled BillPoint, first and foremost, I don’t want to deal with ridiculous charge backs, and I know how difficult eBay can be to deal with – and at least, when I was using BillPoint, one had to send an invoice, and I don’t want to be bothered with that additional step.
For me, there were too few BillPoint users, too little protection, and too much hassle to use BillPoint. I cancelled it and don’t think I’d consider going back.
I used the Yahoo system a year or so ago when Yahoo was really hot, but quickly found I didn’t want to deal with a charge system run by an auction company. Yahoo became notorious for freezing and taking accounts for any number of problems.
I’ll stay with PayPal, been there since the beginning and am happy to deal with a company NOT connected to an auction company.
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