Anyone use PayPal for payment?

[Elliott]

I've never wanted to mess with credit cards, but am
wondering if Pay Pal can be used for out of state
payment for appraisals without the client rescinding
payment?

Elliott

 

[Otis Key]

Never used it Elliott. However, they can just as easily overnight certified funds or do a direct transfer into my bank account. Just got notified yesterday that the cashier's check (in MY name) is at the agent's office and we have an appointment for Tues. Why should I pay someone like Pay Pal to get paid. I'm not a bank. I'm an appraiser. Pay me!

 

[Jerry Bone Jr]

With PayPal, your client could easily dispute the charges, if not happy with your report. I think they have 31 days to dispute. Otherwise, it's a great service.

 

[xm39hnu]

And when payment is disputed, PayPal can freeze the WHOLE amount in the merchant account. If you use this, set up a separate checking account at your bank, to hold PayPal merchant deposits. As soon as a deposit is made, sweep it into your regular checking account. (They notify you of the deposit, and you have to "claim" it.) Having online banking helps do this easily. In other words, empty the PayPal deposit account after every deposit. That way there's nothing to freeze if payment is disputed.

This is NOT bulletproof, so read the agreement carefully.

 

[KenRossman]

I have been accepting Paypal for many years. I have had one attempted chargeback, which was restored after providing proof of the order and a copy of the report. The biggest problem with Paypal is that it is not widely used. I have had a merchant account with Card Service/Linkpoint since 2/06. I still offer PayPal, however the volume of regular CC business is many times - maybe 25 to 1 compared to PayPal.

 

[Couch Potato]

I use PaPal for credit card payments. It has worked well.

 

[Mike Shapiro]

I still use paypal for cases where the people simply cannot get funds to me in time. I only use it because it is simple to set up. Within the years we have had several people try to stop payment and it is a MAJOR hassle. The take the money out of you're account unless you can prove that its an accurate charge which can be very hard to do.

If anyone tries a chargeback, sent them to collections immediately. My opinion is only accept creditcards as a very last resort, or unless you have a relationship with the person sending the money.

 

[Joanne Rauenzahn]

I use paypal VERY often with my EBay business - but Jerry has a point - there is that whole dispute thing. I also have my own merchant account - but I have a yearly fee thats kind of high for the little I use it - if you do that you whould shop around - more than I did!. (Had that as I also used to have a retail store and have kept it just for convenience of those who don't use paypal.)