How exactly does Paypal work for sellers?
#1
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How exactly does Paypal work for sellers, and why do people hate it so much?
I've been reading the help stuff, but I'd like to get a few details from people who actually use it. There's no fee for having a business account, but they take a percentage of incoming payments. correct? Is your income private until you withdraw payment through bank/check? What I mean is: if I receive money in my account, then spend it through paypal is it tracable income? I'm thinking not, considering Paypal itself isn't a bank, so it's kind of like receiving store credit at Walmart. right?
edit: and why does everyone hate it so much? I mean, I can see hating ebay because of their fee increases etc. How does paypal screw you?
edit: and why does everyone hate it so much? I mean, I can see hating ebay because of their fee increases etc. How does paypal screw you?
Last edited by Viper187; 04-03-08 at 08:56 PM.
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Originally Posted by Viper187
I've been reading the help stuff, but I'd like to get a few details from people who actually use it. There's no fee for having a business account, but they take a percentage of incoming payments. correct? Is your income private until you withdraw payment through bank/check? What I mean is: if I receive money in my account, then spend it through paypal is it tracable income? I'm thinking not, considering Paypal itself isn't a bank, so it's kind of like receiving store credit at Walmart. right?
They are run by an actual bank, are federally insured, and you can transfer funds to & from your checking account. I don't believe right now that they accept credit card payments from customers, but folks can pay just like they would with paypal with funds in their account via their checking account. RME also offers an html button you can insert into your auctions so folks can easily sign up & pay you.
I hate paypal, but have had good experiences so far with RME.
#3
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Originally Posted by Viper187
edit: and why does everyone hate it so much? I mean, I can see hating ebay because of their fee increases etc. How does paypal screw you?
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Well, MY horror story is this :
One day my paypal account was locked. It had money in it & when I called nobody would tell me why it was locked & no matter what I did per the website (changing password, verifying this & that) it would not get unlocked. When folks wouldn't answer my questions when I called & they got tired of talking to me & me not giving up on trying to get answers & get this taken care of, they hung up on me !!!!! It's MY money & they hang up on me. I hadn't done anything, and to this day I still don't know why it was locked. Finally I got a hold of a nice guy who did unlock it for me, but even he said he would lose his job if he told me why it was locked. I'm not the only one who thinks paypal itself is fishy. In their TOS they say they can take money out of your account at their discretion, they don't even have to have a reason ! They are not members FDIC, they are not federally insured, they are not a bank, etc... As soon as my account was unlocked I took all of my money out of there & deleted my bank info.
One day my paypal account was locked. It had money in it & when I called nobody would tell me why it was locked & no matter what I did per the website (changing password, verifying this & that) it would not get unlocked. When folks wouldn't answer my questions when I called & they got tired of talking to me & me not giving up on trying to get answers & get this taken care of, they hung up on me !!!!! It's MY money & they hang up on me. I hadn't done anything, and to this day I still don't know why it was locked. Finally I got a hold of a nice guy who did unlock it for me, but even he said he would lose his job if he told me why it was locked. I'm not the only one who thinks paypal itself is fishy. In their TOS they say they can take money out of your account at their discretion, they don't even have to have a reason ! They are not members FDIC, they are not federally insured, they are not a bank, etc... As soon as my account was unlocked I took all of my money out of there & deleted my bank info.
#5
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Paypal works great until you have a problem.
As the $$ sale goes up. Chances are a
problem will happen. No matter how
diligent one is with following their
user agreement. Buyer has edge with
using them period.
As the $$ sale goes up. Chances are a
problem will happen. No matter how
diligent one is with following their
user agreement. Buyer has edge with
using them period.
#6
Originally Posted by fitlissa76
A safer way would be revolutionmoneyexchange.com
They are run by an actual bank, are federally insured, and you can transfer funds to & from your checking account. I don't believe right now that they accept credit card payments from customers, but folks can pay just like they would with paypal with funds in their account via their checking account. RME also offers an html button you can insert into your auctions so folks can easily sign up & pay you.
I hate paypal, but have had good experiences so far with RME.
They are run by an actual bank, are federally insured, and you can transfer funds to & from your checking account. I don't believe right now that they accept credit card payments from customers, but folks can pay just like they would with paypal with funds in their account via their checking account. RME also offers an html button you can insert into your auctions so folks can easily sign up & pay you.
I hate paypal, but have had good experiences so far with RME.
#7
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I've heard all the horror stories and I feel for those victimized; but I did get assistance from them on a recent $223 purchase. Seller disappeared and they got my money back. Probably helped that the seller had a brick and mortar storefront..
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Originally Posted by g
I just signed up at revolution and they give a free 25 dollar credit thats available immediately. Great perk.