I've only posted here a couple times. I'm retired and widowed and have been downsizing on ebay since 2001.
I closed my Paypal account a few years ago when my account information was stolen and someone went on a spending spree. I live in a very small town and my police dept tracked the person down. But they told me it was almost impossible to prosecute (and get a conviction) because the person lived in another state. I was advised to close EVERY financial account I had and have the credit bureau red flag me. It was a time consuming and scarry mess.
Shortly after, I was reading an ebay discussion board. An ex-employee from paypal wrote a thread that lasted about an hour before ebay deleted it. The fella said it was common practice for paypal employees to steal account info and pass it on to someone (usually in another state)... where it could then be used to fraudulently purchase things for a short amount of time. He said paypal was aware of this and would fire the employee if they were discovered. But paypal will NOT prosecute because it would then become public record and give paypal a bad name.
Also, I used to receive spoof paypal emails on the average of once a week. (I never replied to any of them, but I did forward each one to paypal). The strange part is... the spoofs immediately stopped when I closed my paypal account. It made me wonder if paypal itself was responsible for the spoofs... perhaps to protect themselves from stolen account lawsuits!
Since then, I only accept checks and money orders. I'm still afraid of paypal but now I'm forced to look for an alternative.
Someone posted this Free Merchant account link on one of the discussion boards awhile back.
http://www.free-merchant.com/rates
I'm not savvy when it comes to internet advertisements. Has anyone ever heard of them? Are they legitimate and reputable? And cost effective for a small seller? And can I use them instead of paypal? Or do I have to open a paypal account too?
If there's anything other than paypal available... I would very much appreciate any help and suggestions!
posted on August 22, 2008 05:29:01 AM
If you are afraid of using Paypal,then I would advice you to stay away from obscure services.esp those which sound too good to be true.
Propay is an alternative and is run by a bank,money orders may just be the best for you.
I have heard of Paypal insiders committing fraud,there was a time it hired many consultants for programming work.
*
Gulag-a Soviet era concentration camp is now reincarnated as EBAY with 13,000 rules.
posted on August 22, 2008 05:59:18 AM
You have fixed 29.95 per month statement fee and internet gateway fee whether you use it or not.
*
Gulag-a Soviet era concentration camp is now reincarnated as EBAY with 13,000 rules.
posted on August 22, 2008 06:30:52 AM
I am no fan of PayPal but it looks like you are going to have to accept PP to be able to sell on eBay. I wouldn't put it past eBay to hide listings that do not accept PayPal.
I got at least 5 PayPal spoofs a day. I couldn't even bear to open my email because I felt like I was walking through a minefield with all the spoofs and phishing emails. I periodically took email "breaks" (not recommended if you want to keep a good communication DSR).
I finally changed my email address on ebay and PayPal. I don't use the email anywhere else. The good thing is that I have never received another spoof or phish. Note: I just added the new email address to the old one on PayPal so I wouldn't "lose" any payments that had the old information.
I figure if they find this email addy I will change again.
-------------------------------------
posted on August 22, 2008 07:39:33 AM
Neglus - that's a great idea.
I'm not crazy about paypal either but I have to look at the risk as part of the business I'm in.
I have heard that your bank maybe able to get you a Merchant Account that won't cost an arm and leg. I've yet to check it out but I can promise I will be doing that very soon.
posted on August 24, 2008 02:04:42 PM
Thanks! I don't know anyone personally that ebays anymore, so I'm grateful for your help.
You're right... "stay away from obscure services.esp those which sound too good to be true".
If I continue selling, I have no choice but to bite the bullet! So I'll have to open a new paypal account.
But paypal's changed since I closed my old account. Do I need a Premier or Business account? (I list approx ten items a week and about half sell the first time around).
Is a checking account still the best method for transferring payments out of paypal or is there a better way?
And after a buyer pays, how long do I have to wait before I can request a payment transfer (other than if it's the 21 day hold)? And how long does it take paypal to actually transfer the funds? Is it immediate (like it used to be) or do they take their sweet time?
Will I still be able to use my credit card (not a paypal card) to pay my monthly ebay bill or do they automatically deduct it from my paypal balance or the checking account that's attached to it?
And should I start up a new email address just for ebay and paypal. I also use Vendio. Should I use the same email address for them?
I really appreciate your input and help, I'd be lost without it!!!
posted on August 24, 2008 03:34:23 PM
I have an email account I use only for Ebay and change it every 6 months. You'd be surprised how much spam is cut out. After I switch, I do check the old one periodically for the next month though.
The checking account method is still the best way to transfer for someone selling about 10 items per week. I sell more, so I actually have a Paypal debit card so I can take the money out immediately at an ATM.
After receiving a payment, you can transfer or take it out immediately (unless it has that stupid 21 day hold).
You can still use your credit card rather than Paypal to pay your Ebay fees.
I would use one email address for Ebay, Paypal and Vendio - it makes it much easier. I use a yahoo account and have that email solely for Ebay stuff.
posted on August 25, 2008 06:20:36 AM
Thanks for the info and for showing me how to post links and images!
I was told debit cards have no protection from identity theft so I never used one. Is this true? And does paypal charge a fee for withdrawing funds with their debit card?
Also, vendio is the only checkout I ever used. Right now I look at the post office, FedEx and UPS and find the best rate and I personally email a buyer when shipping is based on zip code. But that's all changing too. I'm still trying to figure out how to give the most economical service with the shipping calculator.
I also email buyers when the shipping address on the vendio form differs from ebay's end of auction form. It's amazing how many buyers forget to update their address on ebay when they move!
Can I still use vendio's checkout after paypal becomes mandatory? Or will I have to use ebay? And does ebay immediately and automatically direct buyers to paypal?
And I read about ebay hiding email addresses when someone asks a question. Does this mean I won't be able to give out my personal email address in a message if my answer is longer than ebay permits? Will there still be a way to exchange personal email addresses if someone requests more pics of my item?
You're all the best... I can't begin to thank you enough!! There's so many changes going on right now, so I'm sure I'll have more questions.
posted on August 25, 2008 08:54:20 AM
If you are looking for a merchant CC processing account, I highly recommend not using you bank without first checking the rates of competitors. Rates vary depending on your type of business.
Wells Fargo is extremely expensive. They wanted us to pay 2.5% + 35 cents per transaction, plus their add on fees. When I compared it to my previous outrageously high processor, Wells would save me $10-20 a month. By comparison, I am using a new processor, got a free CC processing machine with ATM pin pad on it, and save $100-$150 a month in fees (that is $1200-1800 a year).
It took me 6 months of research to find the best deal, but so far I've been happy. We use it for our store front, so the PIN processing saves us a huge bundle on its own.
Here is the thing about Merchant Processing...
There are different rate levels for processing Credit/Debit Cards (non PIN based). Our is set up in 3 tiers.
1) The standard rate is generally for a basic credit card and check cards processed as Credit. This is normally under 2% + transaction fees (ours is 18 cents for each transactions). Our rate is only 1.64%.
2) Mid Qualified tier which is normally under 3%. Ours is 2.1%. This mid-qualified rate is generally for Rewards Cards. Frequent Flyer programs, etc. What this means is that you the merchant pays for your customers Frequent Flyer miles... and then some. Most people don't know that the merchant pays for the miles they earn. You really have to watch this tier b/c the rates can really jump high.
3) Non Qualified Rate can be as high as 4%. Ours is 2.85%. This is generally Business Cards, Government Cards, and International Cards. In addition, this may also be the rate you pay for non-swiped payments (ie: phone payments).
Our PIN based transactions are 18 cents per, plus about 59 cents flat fee. PIN won't help you if you are processing online or by phone. How this translates to savings vs. Credit card rates is simple.
$1000 transaction:
PIN Based: 77 cents.
Credit/Debit Card ran as a credit: $16.58
Last month I saved almost $100 in PIN Based vs. Credit/Debit. I should note that it is better to run a card as a credit for transactions under $30 b/c the credit card fees will be less than the PIN based transaction fees.
You should also never pay more than $10.00 a month for statements, and never fall for monthly or annual fees. You should also expect there to be a minimum of $25 in fees per month. Also avoid anybody who charges Batch Fees. That is another stupid add on.
Lastly, your machine. You will need a machine. Our processor leased our machine to us for free.
I would be happy to refer anyone to our processor. We get a $50 referral bonus for anyone who signs up.
Caroline