Posted by grapebed on 6/13/11 2:45pm
Msg #386083

Notary payment via PayPal?

Has anyone have considered requiring immediate payment from Vendors via PayPal? It seems like there are quite a few deadbeat Vendors out there. It seems like such a waste of time trying to get paid.

I would appreciate any thoughts. Thanks much.

Reply by Glenn Strickler on 6/13/11 3:01pm
Msg #386086

Search using the orange search button. There is a lot of info already posted.

Generally, if you try to require that, even the good vendors will call someone else IMHO.

Reply by MW/VA on 6/13/11 3:06pm
Msg #386087

We've all "considered" it, but it's not realistic. This is not an instant gratification biz, and most companies pay in 30 days. There's always been lots of discussion that we should be paid like the appraisers who are paid upfront. It's not going to happen. There is risk in this biz, like any other.
I have one or two companies that are on PayPal terms because of their rep with payment problems. Otherwise, it's not usual or customary to get paid that way. I think it's fair to request it of companies with poor payment histories. Whether they'll do it or not is another story.

Reply by Linda_H/FL on 6/13/11 3:16pm
Msg #386089

That's why you pay attention here and refer to SC

constantly - avoid the "deadbeat vendors"... that said, all your due diligence aside, you're still going to get one once in a while - it's a hazard of the trade....God knows I have one now unfortunately..

In the meantime, on 6/9 you posted you needed help getting your notary business off the ground - only 4 days later you're worried about payment? I think you're jumping the gun. If you're doing straight general notary work, for the most part you're going to get paid in cash by the signers at the table - or at least you should be. If you jump into the loan signing arena, for the most part that's when you worry about being paid by "vendors" - yes you do get general notary assignments with vendors but they are few and far between, and if you do you research you avoid the bad "vendors". Put your payment policy out there up front - they can take it or leave it, just as you can accept their payment policy or not.

I'd say establish your business and do your research. If you do go the PayPal route, remember they charge a fee for payments made through them - that will have to be a consideration in your fee negotiations.

Good Luck.

Reply by grapebed on 6/13/11 4:04pm
Msg #386096

Re: That's why you pay attention here and refer to SC

Thanks very much. I appreciate it.

Reply by SheilaSJCA on 6/13/11 3:19pm
Msg #386090

Why do you even want to waste your time working

with companies that may be a hassle to collect from? There are plenty of GOOD signing services out there that you do not have to take work from just anyone who calls you. Be selective, you are in charge, not them.

Reply by HrdwrkrVA on 6/13/11 3:51pm
Msg #386093

Even with due diligence, you'll sometimes get a new

deadbeat or two. They're not just deadbeats - they're FRAUDS - they defrauded you of of your services! I say as long as everyone continues to post aboout them in NotRot, that shows a pattern of engaging in mtge fraud. Most state atty genls have online complaint forms. Ppl shuud post on NotRot & then take 5 min to cut & paste complaint online. I would go to the state where they are located. Even if you don't get your $$, maybe we can put them out of business. And just maybe they 'll end up being a guest of the state, complete w/ semi-private accommodations and room & board. Good luck!

Reply by grapebed on 6/13/11 4:06pm
Msg #386097

Re: Even with due diligence, you'll sometimes get a new

Many thanks to all for your constructive thoughts.

Reply by MW/VA on 6/13/11 4:41pm
Msg #386098

Great things about your posts, "grapebed" is that you

always say "thank you". That's unusual, but appreciated on this site. :>)

Reply by Virginia/PA on 6/14/11 8:44pm
Msg #386219

I received payment once via PayPal but it was because the check I received came from the Post Office in a plastic bag and there was only half of the paper check remaining. The rest was eaten by a machine for lunch I guess. The down side to getting immediate replacement of the funds is that it cost me almost $5.00 to get the PayPal transfer. Would a dead beat company pay an extra $5 to pay you for something they want to get out of paying altogether?