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knitabit33
Seriously Hooked
742 Posts |
 Posted - 12/27/2005 : 2:13:35 PM
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Are there advantages or disadvantages of using Pay Pal versus a visa
or mastercard? I have only used credit cards when I make online purchases. I have heard that PayPal costs vendors more and therefore
some don't like it. Also when you use Pay Pal does the charge hit even if the vendor doesn't have the merchandise or can you specify
"DO NOT charge my account unless you have my order in stock."
When I make a credit card purchase, I always specify DO NOT charge my
card unless you have my order in stock.
Any other pros or cons would be appreciated as I am thinking of setting up a Pay Pal account.
Thanks
Karen |
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CPAknit
Seriously Hooked
USA
737 Posts |
Posted - 12/27/2005 : 3:04:30 PM
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I use paypal because of it's convenience- all my shipping info, credit card info is in one place- just click to pay. I don't know about merchandise not being in stock- I mostly use it for ebay purchases. Oh- and you can contribute to KR with paypal also!!!!
Cindy
http://cpaknit.typepad.com/can_a_cpa_be_a_knitter_ca/ |
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Boogie
Permanent Resident
USA
3073 Posts |
Posted - 12/27/2005 : 3:09:08 PM
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As a vendor - paypal charges approximately the same that my credit card company charges for transactions. To me that doesn't make a difference. Paypal monies can be refunded the same as a credit card can. There are some fees involved either way (at least in my experience).
Really paypal isn't so different from using credit cards.
Many vendors didn't like people using credit cards through paypal because the fee for using credit cards was more than when someone used an echeck or a paypal balance.
If someone has a credit merchant account that charges less fees than paypal I want to know about it. :)
amy
http://theboogerblog.blogspot.com
http://www.spunkyhats.com |
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gulf knitter
Seriously Hooked
USA
737 Posts |
Posted - 12/27/2005 : 6:11:25 PM
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| I use paypal whenenver it is offered as a payment option. I like it for several reasons, first is that the money can either be debited directly from my checking account or charged to my credit card, second is that there is no "currency exchange" fee when I make purchases in Cananda or another country. Third, I like not passing my confidential payment information on to whoever. |
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Bloberry
Chatty Knitter
USA
228 Posts |
Posted - 12/27/2005 : 6:18:31 PM
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I purchased an item on E-Bay this month and I used PayPal to pay for it. For the first time in the eight years I've been using E-Bay, I ran into a dishonest seller. He didn't send the item, and had his phone disconnected. I applied for a refund via PayPal, and they refunded my money in about two weeks. I couldn't have gotten a refund had I sent a money order or personal check.
I've had nothing but excellent experiences with PayPal.
Jan
Come Visit My Blog! - http://bloberry.typepad.com |
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knittynoddy
Gabber Extraordinaire
460 Posts |
Posted - 12/27/2005 : 6:54:37 PM
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Karen-
As a purchaser, PayPal offers the flexibility of choosing between credit card and debit. Yes, your account is hit immediately, but PayPal has buyer protection and vendor protection. Hopefully you know when you are buying something that is not in stock, and you can negotiate payment with the vendor. Instead of charging you immediately, a vendor can also send you a PayPal invoice when your merchandise is in stock.
As a merchant, like Amy, I would love to know of a merchant credit card account with lower fees than PayPal.
With PayPal, I do not have the setup fee, monthly "service" fee, gateway fee, fraud protection fee on top of transaction fees.
PayPal charges me transaction fees on every transaction, whether credit or eCheck (or PayPal balance I believe), but the fees are on par with what I've seen from merchant accounts and there is a cap on debit fees. It is easy to refund money to buyers with PayPal.
I also like not having to collect people's credit card info myself.
I have used PayPal as a buyer ever since they were first created, and never had any problems.
Evelyn
Knitty Noddy
www.knitty-noddy.com |
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GFTC
Permanent Resident
USA
6331 Posts |
Posted - 12/28/2005 : 03:48:39 AM
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I use Paypal when buying on eBay because they have all my info and I just click and it's done. I used to send a check or MO but it took weeks until the seller received it, waited for clearance, and I received the item.
Last summer I sold a few things on eBay that would otherwise have been shoved into the back of a closet. The buyers paid me on Paypal and I never took the money out of the Paypal account. Now when I buy on the internet if the company accepts Paypal I use the money in my Paypal account instead of a credit card. That is really like getting something for nothing since I traded useless (to me) stuff for new things that I want such as yarn, needles, new knittng bag.
I'm down to about $50 left in the account and that is incentive to put some more of my clutter treasure on eBay.
GFTC of NYC |
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AllisonV
Chatty Knitter
246 Posts |
Posted - 12/28/2005 : 12:31:40 PM
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As a merchant, I agree that Paypal fees are very similar to credit card fees. But the fee structure is very different. As far as the entire charge being made on purchases if only part of the order is available, I cannot say. We only put on the website the yarn that we actually have in stock.
Many of my customers use Paypal; about 10%.
Everything has beauty, but not everyone sees it. -Confucius
Blog: www.simplysockyarn.typepad.com
Website: www.simplysockyarn.com |
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knitabit33
Seriously Hooked
742 Posts |
Posted - 12/28/2005 : 2:05:49 PM
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Thanks all for the info. Now to enroll and spend myself into
Knitters Heaven.
Karen
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Mom2aej
Warming Up
USA
81 Posts |
Posted - 12/28/2005 : 8:01:22 PM
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quote:
Originally posted by Bloberry
I purchased an item on E-Bay this month and I used PayPal to pay for it. For the first time in the eight years I've been using E-Bay, I ran into a dishonest seller. He didn't send the item, and had his phone disconnected. I applied for a refund via PayPal, and they refunded my money in about two weeks. I couldn't have gotten a refund had I sent a money order or personal check.
I've had nothing but excellent experiences with PayPal.
Just a quick question as I just finished with a dispute. Did you get a complete refund or did they keep $25. The seller I was dealing with disappeared and I won the dispute. But they only refunded me the amount less the "fee" that needs to be gotten from the seller. Now I had used my credit card so I just called them and got the rest of the money refunded by them. I'm not sure what would have happened if I had transferred from my bank account or my pay pal balance. I really never expect to hear from this seller again.
Mom2aej
Just when you get a handle on life... It changes. |
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twiggyann
Gabber Extraordinaire
427 Posts |
Posted - 12/29/2005 : 01:40:41 AM
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I accept paypal and credit cards outside of paypal on my website. Fees are similar. You can get fees for lower with a higher volume merchant account -- check with your bank. I don't have a high enough volume for that, though.
I also have 2 paypal accounts -- one personal and one for the business. The personal one can't accept credit cards, but there's no fees for cash transactions so I tend to use that when I sell off personal stuff.
Paypal holds my "fun" money and I really like when I can use that instead of dipping into my household funds.
I've never had a dispute against anyone or against me, so I can't answer any of those questions.
Just remember if you do open a paypal account, NEVER EVER click on any links in emails from "paypal". Lots of scam emails supposedly from paypal. If you think the email *may* be legitimate, log into paypal on your own (not through the email links) or forward the message to paypal -- I think it's spoof@paypal.com. Real paypal emails will always address you by your full name, too. They never say "Dear Paypal User"
Lesley
Twig's Knitting Blog |
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Boogie
Permanent Resident
USA
3073 Posts |
Posted - 12/29/2005 : 05:09:27 AM
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Mom2aej
It's normal for paypal to keep a fee if they can't get the money from the seller. I have a friend that just went through the same process and he too got all but $25 refunded.
Spoof emails.
Paypal will also NEVER ask you to click on a link in the email. If there is a problem that needs your attention paypal and ebay will ask you to log into your account but won't give you a link to do so, you'll have to go to the website and do that.
amy
http://theboogerblog.blogspot.com
http://www.spunkyhats.com |
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knittingbaglady
Permanent Resident
USA
1207 Posts |
Posted - 12/29/2005 : 05:54:53 AM
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I'm almost 90% or higher paypal for my bags, and have never had a problem, and I like the fact that they're easy to contact and customer service is good.
Martha.
http://www.greenmountainknittingbags.com/ |
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Bloberry
Chatty Knitter
USA
228 Posts |
Posted - 12/29/2005 : 09:46:57 AM
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quote:
Originally posted by Mom2aej
Just a quick question as I just finished with a dispute. Did you get a complete refund or did they keep $25.
Mom2aej
In this case, I got a complete refund. I half-expected them to keep $25.00, but they did not. I was happy about that!
Jan
Come Visit My Blog! - http://bloberry.typepad.com |
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knitabit33
Seriously Hooked
742 Posts |
Posted - 12/29/2005 : 2:06:30 PM
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Just opened my Pay Pal account. Now to do some damage!!!
Karen |
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terivan
Chatty Knitter
Australia
240 Posts |
Posted - 12/29/2005 : 7:44:12 PM
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'Real paypal emails will always address you by your full name, too. They never say "Dear Paypal User"'
I recently received some emails saying that I should pay for the item that I had won. This used my name (where did they get it from ? - email address ???), but I hadn't placed any bids ! ebay said it was spam and to ignore it unless a copy of it was also in MyMessages in my ebay account.
Terry
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