Forums: Discussions for entrepreneurs and small business.

Dear Diplady,

I doubt anyone at Paypal saw the post.  That`s because I doubt anybody at Paypal reads English, judging by my experience with their alleged customer service..  What happened is, your funds were `held` for a predetermined amount of time  for whatever they deemed as security-related issues.  This is common practice on their part....too common to suit most folks.  The heart of the problem is:  #1 there is no underwriting process with Paypal as their is with a traditional merchant account, so they don`t know you from Adam which they feel forces them to err on the side of caution; and #2, they are not a bank, so they are not bound by traditional banking rules and regs.  They can pretty much do what they please.

If you`re thinking of switching to a real merchant account, we have a couple of options we think might make sense for you.  One costs as little as $12.95 per month and comes with integrated payment gateway (for web processing) and virtual terminal (for processing on the go with any internet connected laptop).  Another features even lower monthly fees but no gateway.  The best fit for you depends on what you do and how you do it.  If interested, drop me an email.

Thanks.
AMSPCS
www.MerchantServices-help.com
amspcs@juno.com

AMSPCS, I`ll be in contact!

Hi AMSPCS,
I`ve had a merchant account for 13 years and I use it for telephone sales because I rarely if ever see my customer. I realize there`s problems with these kinds of sales but I`ve never had a chargeback. I also use paypal. I`ve wanted to integrate my merchant account into my website but frankly, it`s just daunting. I contacted my bank about it (wells fargo) but they wanted me to sign up for this program that I didn`t know what I was getting into or how well (or poorly) it`d integrate with my site or even how to go about doing that. It just seemed so insurmountable that I put it off. With everything else going on, I`d just like some handholding from somebody I trust -and don`t mind paying for- with clear instructions on procedures and how to go about it in an organized fashion.

-------------------------

~Nurture people, not products~
http://www.fashion-incubator.com

A couple of months ago my PayPal account was hacked by some Euro internet company and they took a small payment out. I guess they thought a small amount would not be missed. That`s how hackers work. The first transaction can be a small one to test the userID and password. Once that flows through they can clean you out.

It took several weeks for PayPal to "investigate" -- which consists of asking the other party to explain the transaction. Fortunately the fraudsters didn`t respond and PayPal refunded my money. I`ve had credit card purchases go bad where that was not the case, and the fraudulent vendor claimed that goods were both ordered and shipped (both claims a lie). Those situations took several months to clear up.

LSS -- I set up a 2nd bank account for PayPal. I keep very little money in that account and sweep the balance out of my PayPal account a couple of times a week. After drawing down cash from PayPal I do an online transfer and move the money into my regular checking account. I leave about $1 in that bank account, just enough to keep it open but any electronic transactions over that amount will be blocked.

My eBay account has been hacked too, and since eBay owns PayPal I tend to be a bit cautious with both of them. I still use PayPal and like it best for online payments, but I think you`ve got to do everything you can to protect yourself, and don`t rely on someone else to do it for you.

Is anyone using Google Checkout and if so what are your experiences?

 

PayPal can be a big help and an added value to many customers who don`t want to pay with a credit card.
As a merchant you need to remember that when you have money in paypal or any other deposit brokers site that the number on the screen is just that, a number. I would not recommend holding any more money then you need there as you have very few guarentees of what will happen.

Moreover there are a number os scams and schemes out there to break into or lockup paypal accounts. If you have any enemys your paypal account might be their traget.

WOW... I am amazed on how many of you have had some bad experiences on Pay Pal. I`ve been with paypal for almost 9 years and I`ve never encountered a problem. They never froze my account, or hacked into it. Why? Because I don`t contest to any emails that start off with:
Dear Customer
Pay Pal Greets you by your Name: Dear Edgar Monroy or whatever your name is:

Secondly, you can tell fradulent emails when you see hover over the link and you see something like: http://google.apps.mu-right.ru or something like that..
Most emails come directly from www.paypal.com... Also, Mozilla and IE will tell you if the link is fradulent...

Is it safe to keep that much money in Paypal? Well it all depends on how you use it.... One thing I hate is transfering funds into my bank account... It takes upto 5 days to see the money in my bank.
What I did, was I requested a DEBIT card from Pay Pal, which I use as a regular check card, and If I need to transfer money into Business Bank account... I walk up to any Bank ATM, and withdraw the limit: $300.00 a day and deposit into my bank account... This is called Instant Bank Transfer... Who has to wait 5 days? WHY?
I also use my pay pal Card for regular purchases that I dont care to explain to the accountant.. So I treat it like my personal bank... The most I keep is $1200.00 nothing more than that...

Sergio keep me posted




-------------------------

Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

http://www.paypalwarning.com/ 
this is just one of many...

Please check this website out! Never ever have money left in your Paypal account, it is definitely NOT safe! My account was frozen 5 weeks ago and it is a pain in the ass to get the account unlimited again! I have a few hundred dollars on it what I just received before they did it, I di not even had the time to get the money transferred to my bank account, who knows if I ever will see my money...Paypal sucks!!!


-------------------------

Is it so bad to be misunderstood? Pythagoras was misunderstood, and Socrates, and Jesus, and Luther, and Copernicus, and Galileo, and Newton, and every pure and wise spirit that ever took flesh.

-Ralph Waldo Emerson-