Paypal
- Thread starter dnspixel
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HostKookster
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Out of 3 years working with PayPal, we have only ever received 3 fraud orders during the over 5000 transactions put through our account. Now that is some impressive fraud screening!
Compare that to 2CO where fraud is rampant. We had a 2CO account for a month - what a horrible experience. Chargebacks, fraud orders, and problems transfering money to our bank account - The charge for attmepting to transfer with incorrect bank account information is rediculous - especially when the problem is at 2CO and not the bank information. We lost $200 in fees trying to move our money over - what a nightmare.
I must stress however, there is no substitute to having a merchant account. Third Party Gateways are fine but you will never bring in the same numbers you would have if you had a merchant account. Just my opinion based on sales.
Compare that to 2CO where fraud is rampant. We had a 2CO account for a month - what a horrible experience. Chargebacks, fraud orders, and problems transfering money to our bank account - The charge for attmepting to transfer with incorrect bank account information is rediculous - especially when the problem is at 2CO and not the bank information. We lost $200 in fees trying to move our money over - what a nightmare.
I must stress however, there is no substitute to having a merchant account. Third Party Gateways are fine but you will never bring in the same numbers you would have if you had a merchant account. Just my opinion based on sales.
PayPal is yet another great payment gateway to offer as many people do not like to enter credit card numbers into websites which are not digitally signed, etc. So you can say PayPal can help you a lot to make your business grow. Also I would recommend you to have an alternative like 2CheckOut.com as some people do not like or trust PayPal.
That is true. There were some rumors that they were used in money laundering operations, for terrorists and all of that. Maybe it's an exaggeration, but maybe it's true. Paypal likes to do a lot of things without playing by the rules, and that eventually will have repercussions on the end-user.wyldedogs said:
Another interesting URL is www.paypalsucks.com, and since we're also talking about 2checkout, which is quite ok, better than paypal anyway, I've also found this ikobo company, which seems quite interesting, at least on paper it does.
P.S. Chargebacks really do suck!
PayPal is great, but I see a few stitches down the line:
• Fraud - PayPal fraud is one of the biggest issues they have, not only do people become ripped off by so called "legitimate" clients, but emails from outsider parties are going around asking you to re-verify your account (i.e. put in your CC details) - If you get one of these contact paypal right away, it may be a scam.
• Fees on transfers - are relatively high
• The time it takes to transfer any amount to a UK bank account is 5-7 days, and sometimes longer - this is truly not very good.
• Fraud - PayPal fraud is one of the biggest issues they have, not only do people become ripped off by so called "legitimate" clients, but emails from outsider parties are going around asking you to re-verify your account (i.e. put in your CC details) - If you get one of these contact paypal right away, it may be a scam.
• Fees on transfers - are relatively high
• The time it takes to transfer any amount to a UK bank account is 5-7 days, and sometimes longer - this is truly not very good.
Paypal is great the only problem with it is the fraudulant charge backs that clients do when they think it is funny to fraud you after taking your services.
Had a couple of these before now and really their is nothing you can do besides sit their and argue with Paypal.
Anyway thats my thoughs.
Had a couple of these before now and really their is nothing you can do besides sit their and argue with Paypal.
Anyway thats my thoughs.
banners2go
Account Disabled
Paypal is good 
I have heard many stories but never encountered any myself. Its fast and easy to use....the only downside is the transaction fees on business accounts which tend to be abit of a pain.
I have heard many stories but never encountered any myself. Its fast and easy to use....the only downside is the transaction fees on business accounts which tend to be abit of a pain.Yeah, keep saying that until something bad happens to you. Don't get me wrong, I don't want something to happen to you, it's just that whenever paypal is involved, things aren't so predictable.********** said:Paypal is good
Anyway, I've mentioned before that I was considering ikobo. I've signed up a while ago and until now it seems like it's a good alternative to paypal, especially since they have much larger coverage than that of paypal. I'll let you know how things are going…
paypal has been great for me for the past 5 years. Never had a single problem, I think is a great option for a business to get payments done. Respectables companies use them, most of those NOpaypal crappy sites are people that didn't follow their terms and want to get back to them somehow.
PVT-Jordan
New member
Paypal is surely a great place to start, but every company knows that it must expand its options to broaden it's possible client base. So it is always good to have multiple payment methods, especially if you offer internation services, where some people cannot get a paypal account
I completely agree with you on this one, although I'm not so sure paypal is such a good option. I admit a lot of people use it, so that should be provided as a payment option, but definitely not as the only one.Xcel_Hosting said:
A lot of people say how great paypal is, until they get ripped off the first time. After that you find a lot of them posting on forums like paypalsucks and others like that. I myself got my account frozen and lost a small amount of money, but it was enough for me to go looking elsewhere.
To whom it may concern,
I've had an awful experience with a merchant account company called Paysystems (http://www.paysystems.com). Everything from the (unmentioned) holdback charge where they hold about 6% of your sales for 6 months to the 11 weeks of having my money and not paying me.
Plus, their customer service is terrible. Every time I call, I have to go over my entire issue with them. It's like they don't keep anything in the computer.
Their customer service system has big trouble with letting you talk to
a supervisor. Plus, they don't generally allow you to speak to the Settlements department. I spoke to them once, but it was a miracle.
Paysystem's settlements ONLY go on Thursdays. If there is a problem with something, they don't care and they won't make a settlement on a different day. You'll have to wait a week.
Right now, they are holding a lot of my money. Their system wouldn't work with my business savings account. Someone should have been able to diagnose this problem far sooner than they did. I called my bank and Paysystems many times and nothing worked; each time, I waited a week in between attempted settlements, of course.
They were finally able to make a single settlement into a different bank account. However, the customer service agent promised me that I could email him Friday with the results of the attempted settlement
and he would immediately make ALL of the other settlements that bounced back. Well, he was nowhere to be found last Friday. Now, it's Monday and I still haven't heard a word from him.
In short, Paysystems deserves two big thumbs down. They would NEVER be able to conduct business like this in America and get away with it. Things are obviously MUCH looser in Canada. If you need a merchant account, then look elsewhere.
I've had an awful experience with a merchant account company called Paysystems (http://www.paysystems.com). Everything from the (unmentioned) holdback charge where they hold about 6% of your sales for 6 months to the 11 weeks of having my money and not paying me.
Plus, their customer service is terrible. Every time I call, I have to go over my entire issue with them. It's like they don't keep anything in the computer.
Their customer service system has big trouble with letting you talk to
a supervisor. Plus, they don't generally allow you to speak to the Settlements department. I spoke to them once, but it was a miracle.
Paysystem's settlements ONLY go on Thursdays. If there is a problem with something, they don't care and they won't make a settlement on a different day. You'll have to wait a week.
Right now, they are holding a lot of my money. Their system wouldn't work with my business savings account. Someone should have been able to diagnose this problem far sooner than they did. I called my bank and Paysystems many times and nothing worked; each time, I waited a week in between attempted settlements, of course.
They were finally able to make a single settlement into a different bank account. However, the customer service agent promised me that I could email him Friday with the results of the attempted settlement
and he would immediately make ALL of the other settlements that bounced back. Well, he was nowhere to be found last Friday. Now, it's Monday and I still haven't heard a word from him.
In short, Paysystems deserves two big thumbs down. They would NEVER be able to conduct business like this in America and get away with it. Things are obviously MUCH looser in Canada. If you need a merchant account, then look elsewhere.
country-tyme
New member
jericho said:
We use both paysystems and paypal, although 99% of our clients prefer paypal.
As for Canada being much looser, I beg to differ. We have much stricter banking laws here, and not the privately owned banks like in the US.
My scope on PayPal
As with any online funds management service you're going to encounter a few downsides. I agree, PayPal is a great alternative to money orders, company/personal checks, and bank transfers but bare in mind that you jeopardize your security when you opt for convenience. I've been using PayPal for the past 4 years and just recently encountered my first drawback (lost 250.00 because of a fraudulent payment). PayPal makes it possible for web hosts, graphic/web developers, merchants and basically anyone looking to exchange money to cater to a wide audience and do so conveniently.
Here are some cons I've noted from my experiences with PayPal.
- The PayPal Customer Service/Resolution Team is horrible and their business practices are unethical.
- It's like a monkey race with PayPal when you're trying to get your money back.
- Their application process is not stringent enough. Security could stand to be tighter and the so called investigations PayPal makes on fraudulent accounts should be more thorough.
I just found a good link that explains it better than I ever could:
click here
I will admit though that without PayPal, I wouldn't be able to earn the kind of money that I do with web hosting and web development because people simply hate to be inconvenienced with checks, money orders, etc. Payment with PayPal is instant and can quickly be refunded if need be.
It's a win/loose deal with PayPal.
As with any online funds management service you're going to encounter a few downsides. I agree, PayPal is a great alternative to money orders, company/personal checks, and bank transfers but bare in mind that you jeopardize your security when you opt for convenience. I've been using PayPal for the past 4 years and just recently encountered my first drawback (lost 250.00 because of a fraudulent payment). PayPal makes it possible for web hosts, graphic/web developers, merchants and basically anyone looking to exchange money to cater to a wide audience and do so conveniently.
Here are some cons I've noted from my experiences with PayPal.
- The PayPal Customer Service/Resolution Team is horrible and their business practices are unethical.
- It's like a monkey race with PayPal when you're trying to get your money back.
- Their application process is not stringent enough. Security could stand to be tighter and the so called investigations PayPal makes on fraudulent accounts should be more thorough.
I just found a good link that explains it better than I ever could:
click here
I will admit though that without PayPal, I wouldn't be able to earn the kind of money that I do with web hosting and web development because people simply hate to be inconvenienced with checks, money orders, etc. Payment with PayPal is instant and can quickly be refunded if need be.
It's a win/loose deal with PayPal.
I agree about paypal being convenient, but it's also true a lot of frauds can happen through this system. I agree, some of them are the user's fault for not conforming to instructions or clicking links in unsolicited e-mails or such. Still that leaves a large amount of them which might have been prevented if paypal enforced tighter security and had some sort of chargeback protection.
Indeed, you can learn a lot from visiting Paypalsucks, I know I did.
Indeed, you can learn a lot from visiting Paypalsucks, I know I did.
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