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Old 13th October 2006, 08:06 AM   #11
tigerlily
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Originally Posted by Corey Bryant View Post
When I tell the merchants to consider Paypal, I also tell them - get a separate bank account only for Paypal. And then empty that account on a daily basis. Most banks will not charge you any fees to transfer to another account but some might take a few days. From past experience, Bank of America is almost instant, while Washington Mutual takes a couple of days (I think they should spend less on advertising and more on technology).

This is exactly what I do. I have an bank account set up just for Paypal and keep enough in it to cover my fees. Anything else is withdrawn. You just have to play it smart.

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Old 13th October 2006, 08:59 PM   #12
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Great advice from the last two posters. The account I did have connected to Paypal was separate from my regular ones, so maybe that's why I escaped any direct money loss. Also I normally set up alerts on my accounts so I have a chance to disallow a transaction.

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Old 31st October 2006, 03:31 PM   #13
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Default Just found this thread.

Wow, what a wake-up call! I've heard other stories of standard processors behaving in this way, but I had always thought PayPal wasn't like that.

The thread is very timely, because we are looking for a processor to use with a new Yahoo! store. I had been looking at PayPal, but they seem to have some integration issues with Yahoo.

Does anyone have any recommendations? Feel free to contact me privately. I could use some independent advice.

Thanks,
Andrew.

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Old 31st October 2006, 04:45 PM   #14
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Originally Posted by 4ndr3w View Post
Wow, what a wake-up call! I've heard other stories of standard processors behaving in this way, but I had always thought PayPal wasn't like that.

The thread is very timely, because we are looking for a processor to use with a new Yahoo! store. I had been looking at PayPal, but they seem to have some integration issues with Yahoo.

Does anyone have any recommendations? Feel free to contact me privately. I could use some independent advice.
You can use any processor that is compatible with the First Data Nashville Platform. First Data is the largest transaction processor in the United States, Nova being the second. Virtually almost any merchant account processor is compatible with the Yahoo Electronic Payment gateway.

Keep in mind that their gateway will charge you a percentage, on top of what the merchant account processor will charge you. Most gateways do not charge you - some will charge a transaction fee, and some won't

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Old 1st November 2006, 07:37 AM   #15
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There are whole sites devoted to 'protecting' people from PayPal. Personally I've never known anyone hang around long enough to even access their unbelievably slow website ...

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Old 31st January 2007, 09:31 PM   #16
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Hi all, read some eye-opening info here. I have been using my personal checking account for years on Ebay & PAYPAL. Now, I can see, i need to re-think my current situation with them. I think it will be easier to move my personal account than go the other way.....thanks for the info. I have had years of experience with PAYPAL & Ebay. What i have discovered over the years. All they care about is the all mighty $$dollar$$, nothing else. The idea of going without PAYPAL is buisness suicide on Ebay. I get paid 99% of all $ through PAYPAL. Besides, it speeds up the payment process, accounting, etc.....lots of reasons to use them. They burned me on 1 transaction for about $60, but after pursueing the situation & investigating the problem. They did give me my $ back, but only after threatening to never use them again. When they say they will investigate the claim----B.S. I supplied them with the information & had to force them to look it over. Luckily, the buyer, who was selling on Ebay, got stupid & posted too much information in his feedback which explained the problem. If not, I would of got hosed by them too. I had a long chat with fraud control at PAYPAL one day. What i came away from that conversation with would of been. There is no such thing as seller protection, if the crook knows what he is doing. I can go in & rip people off blind at will on ebay right now, if I chose to with the information I was provided. No, I wont tell you how to do it because I am an honest person & they should of never told me that info. Lets just say, the seller protection policy is for show & makes sellers feel like they are protected, but really, they are not. Dont get me wrong, 99.99999% of all PAYPAL transactions never have a problem. The problem I have with them is they do not protect sellers as they claim to & this thread confirms that. In fact, I could tell you, more than likely, why you lost your $ from PAYPAL on this transaction. I am makin an educated guess, but there should only be 2 reasons why they came after you for the money. 1. the items were paid for with a stolen credit card, or, 2. The buyer made a chargeback against you through his credit card company/paypal. Anyway, just thought i would send some of my views on this situation. I will leave it at that for now, feel like I am rambling!....There are better days ahead!

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Old 1st February 2007, 12:02 AM   #17
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Quote:
Originally Posted by Corey Bryant View Post
Sorry to hear this has happened to you. This actually happened to a friend of mine's wife. He was actually COO of another merchant account processor. And reviewing everything, he basically found the same thing but his wife settled for half the amount.

When I tell the merchants to consider Paypal, I also tell them - get a separate bank account only for Paypal. And then empty that account on a daily basis. Most banks will not charge you any fees to transfer to another account but some might take a few days. From past experience, Bank of America is almost instant, while Washington Mutual takes a couple of days (I think they should spend less on advertising and more on technology).
Good advice. I'm hearing more and more horror stories like this one. Whats the alternative to paypal?

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Old 17th February 2007, 04:52 PM   #18
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Depends on the country, volume, etc. Paypal is mainly an IPSP (internet payment service provider). People usually use Paypal's merchant account to accept credit card payments or their payment processing service. They do offer merchant accounts though now since they own the Payflow gateway.

Some merchants just usually use their own merchant account and electronic payment gateway (Linkpoint, Payflow, Authorize.net). Some merchants rely on their bank to provide this service to them.

2CO is another example of an IPSP

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Old 18th February 2007, 12:52 PM   #19
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Outside_The_Box: I totally believe you. As someone who sells a service, not physical goods, I'm always at risk of clients telling paypal they never got what I charged for and having paypal refund them without so much as asking me for proof first. When I complained I was told that if I sent a physical product (which I do - I send all work to them on CD via certified mail) then they would not be able to refund the money to them. But they never bother to ask, they just refund it and then there is hardly ever anyone to speak to about it. I always leave my paypal balance as low as I can by removing money immediately via the ATM. But I wasn't aware they could just take money out of your linked bank account if they felt like it. That is most definitely not acceptable business behavior.

I guess it's time to get rid of Paypal completely.

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Old 18th February 2007, 01:00 PM   #20
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I've ran into this type of scenario recently.

Quote:
I always leave my paypal balance as low as I can by removing money immediately via the ATM. But I wasn't aware they could just take money out of your linked bank account if they felt like it. That is most definitely not acceptable business behavior.
Based on my experiences, there is a line. My understanding is that they cannot withdrawal from your account when a negative balance is in place from a chargeback. They can stop a transaction in process, for example if I have a transfer to my account in place and a chargeback comes in place they can reverse that. But once it is in my bank account, I haven't had and don't think there is an issue there.

The problem is paypal represents you with any chargeback, and you do agree to abide by the determination made by the other bank. So you are really at their discretion regardless of your situation. Of course, afterwards you could address the matter directly in the courts if you do have a legitimate claim and have issues with a chargeback.

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