credit card processing

[Couch Potato]

I also use paypal for credit cards, but paypal recently eliminated the requirement for clients to have a paypal account to use it. They just click the payment button on my website, enter in the credit card info, and click submit. It's all done securely on paypals website, theres no setup fees, and is quite simple.

PayPal has not required the customer to have an account to send a payment for as long as I've used the service, more than 6 years. I've used it quite successfully for my appraisal work.

 

[Hall McClenahan]

Look into PayPals virtual terminal. I take them right at the door by using my Cell Phone.

https://www.paypal.com/us/cgi-bin/webscr?cmd=_vt_hub-outside

 

[Steve Metz]

I do not take credit cards or use Paypal as I have had several appraiser friends ripped off on chargebacks by both. Paypal is not secure at all. I got my bank account hacked by someone at Paypal and $6,000 stolen from me and it took 6 months to get the $ back from Paypal.

 

[TN Pro]

Used Paypal for 5 years, had only one charge back, and that was resolved in my favor quickly.
They dont require that you have an account to send money. The sender also gets a receipt which people seem to like. I have a paypal debit card, i can withdraw my money instantly.

Dean

 

[Metamorphic]

hey gang, sorry if there's already a thread on this as i assume there is, but a quick search came up blank.

i'm considering going credit card and wanted to know of any suggestions people might have. i got a quote from a local company, but they're talking $70 per month, plus a 4 year lease on equipment plus of course transaction costs and then another $150 for setup. i've got no problem with the transaction costs, but figured there's a more efficient way to save myself from paying $840 a year for the equipment. they have an online option that's $30 per month, but then we're talking the same $150 setup and then $300 for the software. either option is a lot pricier than i was expecting. any help is appreciated.

I got a msg back from my buddy. He says that's pretty much going rate for a plan with wireless processing gear. The one he does has a little cell phone like thing with a card swiper built onto it that has a little associated wireless printer for printing receipts. He says he moves a lot of these units to guys that do street fairs and such. I dont know if an appraiser would do enough of that kind of traffic to warrant the overhead costs. But if you're interested I'll put you two together.

 

[Tom Foster]

Wait till you get your 1st "charge back" 2 months after you turn in a report.

Al least with a check you can wait till it clears, with a "charge back" it hits you a few months later.

 

[Couch Potato]

I do not take credit cards or use Paypal as I have had several appraiser friends ripped off on chargebacks by both. Paypal is not secure at all. I got my bank account hacked by someone at Paypal and $6,000 stolen from me and it took 6 months to get the $ back from Paypal.

Good point Steve. Don't use your regular bank account for PayPal. Use a separate account just for those transactions. A "no fee" checking account with a credit card for bounce protection works well. Keep next to nothing in the account so little can be stolen. Any theft or charge back that overdrafts onto the credit card can be protested resulting in no payment being due. Chargebacks are a non-issue if you document your transactions. Get ID, get a signature and document fulfillment of the order.

 

[FIDELITO]

What about you submit the appraisal report and the client is not happy with or the transaction was cancel and the client refuse to pay the credir cards charges ? to me cash or check at the door is the only option.

 

[FIDELITO]

"Ignorant appraisers, by far the greatest danger to the appraisal profession." this quote apply to all professions,not only appraisers

 

[SevenDay]

What about you submit the appraisal report and the client is not happy with or the transaction was cancel and the client refuse to pay the credir cards charges ? to me cash or check at the door is the only option.

They can cancel a check just as easily as they can cancel the credit card transaction. Granted they only have 2 weeks to cancel instead of 6 months, but they'll always have the report back well before that 2 weeks is up. For me, credit cards are usually the last resort type of payment because I prefer cash or check, but it's nice to have the option there when they can't pay with cash or check.