Announcement PayPal Policy Change

JoCarole

New Member
PayPal is changing their policy regarding claims against them. Effective tomorrow, Nov 1, 2012, you will be unable to sue them, everything will be subject to arbitration. Many if not all credit card companies have this policy too. To me this is just another nail in their coffin. I had a lot of problems last year with them when they were debiting the wrong account which caused overdrafts and I finally shut down both accounts. Now I only use them to make payments with my credit card. I prefer payment in paper checks but in today's world that could make you lose work due to the lengthy process. Wondering how you feel about this? Does it make you want to look for another online provider? There are others out there, more now than before but PayPal probably has the biggest share. What are your thoughts on PayPal. Like it, don't like it or just too busy to bother looking around for another provider right now? :confusion:
 

LeeDrozak

Community Leader
Re: PayPay Policy Change

I have looked at a few others and unfortunately PayPal seems to be the service that people trust enough to use. I tried Google but my bank kept freezing my account because they have so many scam reports against Google that it was a sheer nightmare.

So for me, PayPal it now is as many of my clients are choosing this option as a form of payment.
 

Jo Livings

New Member
Re: PayPay Policy Change

Paypal seem to be preferred by clients, I've had issues with them too, but until someone else creates something it has to be them.
 

assistantnikki

New Member
I have had clients that hate Paypal. I have moved my business account to Chase and I think it's probably easier for a client to just do a payment directly into my bank account. A lot of people use Chase, they're on more corners than Starbucks (especially here in LA) and they don't charge a fee on my end. The other alternative is Square. I have the device but I haven't used it yet and there are fees associated with that.
 

The Perfect Word

Community Leader
I rarely use them. All of my regular clients pay by check (except for one who does a direct deposit), and only a few of my project clients have used PayPal. But when I have used them, I have never had any problems, and also received transfers into my bank account in two days. And most of the time when PayPal is used, it is used to pay by credit card when the client didn't even have a PayPal account.
 

SupportMyOffice

New Member
I have never had an issue with PayPal. Sounds like I'm one of the lucky few. I have a PP Mastercard debit that I use for expenses. All of my longstanding clients are now paying with PP. I prefer it to checks because checks can get lost, not clear, require gas and vehicle use to deposit and take time to process. PP is an immediate payment and costs 3% but that is a deductible expense for the business owner. Crossing my fingers I continue issue free with them.
 

MelissaBologhVA

New Member
As of late I've been having issues with paypal, but personally. I have yet to use them on a business Level. But this insight is good. I may look into other services like PayPal(if there are any).
 

virtual writing

New Member
PayPal is what I use but gee it's expensive. Nikki Johnson, how does the direct deposit to your bank account work through Chase? Is the customer paying with a credit card?

Thanks for bringing this up, JoCarole. I expect others may share some good alternatives here.
 

indy2504

New Member
Paypal is trusted among many. They have gained this reputation. What kills me about paypal is their fees.....
 

tracy

New Member
I have used paypal in the past and will do so again with my new business I am setting up.

I do have frustrations with their services and am not happy about the fees, but I do feel like it is the easiest way to collect money.
 

The Perfect Word

Community Leader
One of my business clients (an insurance company) pays by automatic deposit (ACH transfer) into my business checking account. It's great! (It was their suggestion, and I'm glad they made it!)
 

JoCarole

New Member
Nikki, I am interested in how Chase works too?

I prefer checks but it can be time consuming and cause delays.

Today everyone wants everything done now (me included).

Do your clients make online payments to your checking account at Chase.com?

Curious? :confusion:

Thanks
 
Since I'm located in Canada, I only have the option of using PayPal for my non-Canadian clients. I use Interac e-mail transfer for all Canadian clients and it doesn't cost me a cent.

If anyone knows of an alternative to PayPal for Canada, please let me know.
 
I have been using PayPal from the get-go and have never had any trouble. I consider the 3% a bargain just because it speeds up the whole process so much. (Plus my kids are little--shuffling everyone in and out of the car to go to my mailbox and pick up a check, then wait in line at the bank, is really a BIG deal some days. I'd just rather avoid it.)

I will say, though, that because I've known other people who had serious problems with PayPal--not to mention, we hear about hacking/ID theft from other huge companies just about weekly--I don't let money linger there long. I leave enough there to pay whatever I know I have coming up, and the rest, I transfer out at least once a month to my bank account. There's no fee for transfers, so that feels like a free extra layer of security for me. They also have an option that lets your incoming payments go directly to your bank account. I've never tried that, but I suppose it's something to consider.

Just always remember, there's no FDIC covering PayPal or similar services, so don't treat it like you would a bank account.
 
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shadowcat

New Member
My bank accepts transfers straight into my account from other banks. I just let client know my bank details. I don't know if this will work internationally though. Paypal might have to be the default for me for international payments but as I haven't had the option to tray the bank version I will have to wait and see.
 

Mobilegirl

Member
An update on accepting checks and depositing them ~ some banks now offer an "app for that", where you open the app, snap a picture or scan using your phone and deposit virtually. I have not used this feature yet, but it seems like a great option instead of driving to the bank, waiting in line just to make a deposit. Also, Bank of America, offers the ability to make cash deposits without an envelope and and deposit slip. So incredibly convenient as I've used this feature for another business I'm in.
 

Amy Kay

Member
Thanks for the update! Hopefully I won't run into any issues in the future. I know PayPal can have it's quirks, but it sounds like there's not much of an alternative.
 
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