Posted by pat/WA on 9/2/10 4:24pm
Msg #351339

PAYPAL ACCOUNTS

I am considering setting up a Paypal account to receive checks from
Signing Services.
Can someone explain to me how this works?

Thank you

Reply by Shauna/WA on 9/2/10 4:31pm
Msg #351340

Should a company contact you for services, they could then have money drawn from their bank account and then sent to Paypal. In turn, Paypal will send the money to your Paypal account. If you wish you can then send that money into your checking account.

All you need is an email address and a checking or savings account. You'll need to verify your account by noting the amount of two small deposits (usually under 10c) Paypal places into your checking account.

It's super easy and very handy.

Reply by Moneyman/TX on 9/2/10 8:19pm
Msg #351372

There are fees that you will be charged when you accept payments using PayPal. When you use PP to pay for transactions you, as the buyer, are not charged anything.

As the seller, PP's term for anyone that accepts payments, the standard fee charged is 2.9%+ $0.30/per transaction. There are also charges when you remove the money using a PP debit card at an ATM. Otherwise the debit card can be used similar to your local bank debit card to make purchases. You will want to read up on all the fees involved. With the new financial laws recently passed the ability to add a surcharge to your invoice for PP payments may be allowed. You will want to seek your own legal and/or tax advisers for clarity and the legality of say a 3-5% surcharge.

Because of the charges associated and the need to have written proof that the company has already received and is satisfied with services rendered (as protection from PP charge back policies) I do not use it on a regular basis, but it nice to have as a backup for slow-pay or possible no-pay companies.

Two weeks ago, I did offer to accept payment from a company that was past due. They quickly paid the invoice, late payment charge, and also agreed to pay a surcharge to help cover the fees involved in receiving the money.

Both Phillip and PAW are correct that nothing is foolproof. For the most part, in this business, as long as you have written proof that they have received the services and are satisfied I don't see many issues with charge backs. In other businesses, such as online retail, PP has proven to not be a friend of sellers and their system is constantly used to scam good sellers out of merchandise and money. This is from years of personal experience.

Reply by Jessica Ward on 9/2/10 9:15pm
Msg #351383

I've used Paypal for a year or two, and really don't like the surcharges. They start to hurt after a while. I'm thinking of switching to ZashPay which is just a flat fee of $0.75, but I know it's not widely used yet.

Reply by LKT/CA on 9/2/10 8:42pm
Msg #351375

Google Checkout

I like Google Checkout better. Paypal freezes accounts for "suspicious activity", then you have no access to your money. I think they manufacture this supposed "suspicious activity" to steal people's accounts. You have to jump through all kinds of hoops, calling, sending in proof of this or that, verifying this, that and the other and then they still are not satisfied and won't release the account. I had a paypal account for 2 years when they froze my account for "suspicious activity".

Google Checkout (on the other hand) is better. For one thing, when a customer completes the transaction, the money goes directly into your checking account. You do not have to "transfer" anything from some middle ground to your checking account - that's where it goes automatically and usually within 48 hours.

Reply by Moneyman/TX on 9/2/10 8:55pm
Msg #351379

Re: Google Checkout

I have heard good things about Google Checkout as well. Is it just as easy to open an account with them as with PayPal? Can you accept payments in the same fashion as PP?

Yes, I agree with you in that I believe PP "creates" "suspicious activity" on people's accounts and it is a headache just to get access to your own money. I had my account frozen 3 times in 2 months and each time they refused to tell me what the "suspicious activity" was. As I said, they have proven not to be the friend of sellers (merchants) and this is only one of the examples. My personal opinion is that they create reasons to freeze accounts in order to earn interest on the money. While it may only a small % or even tenths of a %, considering the millions+ they have control over in their accounts this % can add up to a huge windfall for them.

Overall, I am not a fan of PP, an ebay company, but do have it as a backup and to use as a buyer online. I would like to open a Google Checkout account to use instead.

Reply by Dwight/KY on 9/2/10 9:45pm
Msg #351391

Re: Google Checkout

I have a google account. I just tried a set up a goole account and I was asked for my credit card number plus the other usual info. Why would they want my credit card info to set up a account?

Reply by Philip Johnson on 9/2/10 5:44pm
Msg #351350

Not only can they deposit your $ in, but they can also reverse the transaction, it isn't foolproof.

Reply by PAW on 9/2/10 6:38pm
Msg #351356

Nothing is foolproof. Checks with insufficient funds, credit card information on closed accounts, etc. etc. etc.

I've been a Paypal user for over 20 years. Most of my international customers use Paypal for payments. I've only had one small issue with Paypal in those 20+ years because of a wayward merchant.

Reply by pat/WA on 9/2/10 7:12pm
Msg #351361

PAW, I guess I am dense but why do you have international customers?

Reply by PAW on 9/3/10 7:23am
Msg #351420

I do apostille and document authentication and legalization processing. Since the process is for document to be used in foreign countries, many of my clients are already 'in country' and need to have state and national documents processed for their use.

Reply by Mary Ellen Elmore on 9/7/10 9:19pm
Msg #351831

I have used PP for about 7-8 years now. I have never had a problem with it as a merchant (sold on eBay and take payments for my other biz) or customer.

They also have a new thing where you can go to Wal-Mart or wherever else sales them, and buy a MoneyPak Card to add money to the PP faster. This has come in handy when family needed money ASAP.