K11 Owners Group

Saltcreek · Posted: Mon Mar 02, 2009 3:05 pm Post subject: Paypal

I know a lot of you use paypal to make and receive payments. We want to start using it for receiving payments for syrup and other things if we can do it without fees on a small scale. I find the info at the paypal site aiming you towards a premium account. Can anyone tell me how this works for them or steer me towards a good tutorial? Thanks
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Jim

1994 K1100LT Mystic Red, bfd, 37000 miles, sold Sad

2009 Wilderness Systems Zephyr 155 ST
2002 Litespeed titanium

Mystic Red · Posted: Mon Mar 02, 2009 11:13 pm Post subject:

I would NOT do the one where you give them your bank account info, a credit card should be fine. Just my humble opinion.
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Scott Hespelt, '94 K11LT
K11 OG #466

rydor · Posted: Mon Mar 02, 2009 11:39 pm Post subject:

I have a premium account. I needed the higher transaction limits and easier access to the funds in the account. As far as back account numbers, that was a must-have option for me so I could transfer sale proceeds into my checking account (at no charge). I've not had a bad experience with paypal. You have to pay transaction fees, which some people don't like, but the ease of these transactions makes it a good deal in my book.
My .02.

Flying Duck · Posted: Mon Mar 02, 2009 11:53 pm Post subject:

They're a den of thieves but it's a monopoly.

I'm somewhat surprised one of the major banks hasn't gone after a piece of their pie.

You have to get the Pemium account to accept credit cards. then they take fess on bth CC AND bank transfer transactions.

I've been on PayPal for years and hundreds and hundreds of transactions. The only issue I ever had was with a shady eBay seller and the PayPal process helped me get my money back.

They have my bank account - never a problem. You're much more at risk using a debit card in a convenience store. Heck, I once had my AmEx card stolen when I rented a car.

They also now have a PayPal Plug-in where you can generate a one day credit card that draws on yoour PayPal or bank account and has a $1,000 limit. I always use that for on-line purchases now to preclude the chance of one of my real credit cardsd being compromised.
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Scott_Anderson · Posted: Tue Mar 03, 2009 8:31 am Post subject:

You could always set up a seperate checking account just for the paypal functions that you don't use for anything else. Just in case that something would happen the rest of your financial stuff would be protected.
Like Drake suggested the 1 day/1 purchase credit cards for example.
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Ride safe.

1997 K1100LT 0302488
2017 FLHTK Ultra Limited
Garmin StreetPilot 2820
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"One who does not ask questions is ashamed to learn" Danish proverb
1995 K1100LT 0302044(R.I.P.)
1997 R1100RT ZC62149(sold)

Saltcreek · Posted: Tue Mar 03, 2009 9:00 am Post subject:

But if you need to only occasionally take payments, usually under $100, do you need the premium account or can you use the "request a payment" function and the payer use his credit card?
_________________
Jim

1994 K1100LT Mystic Red, bfd, 37000 miles, sold Sad

2009 Wilderness Systems Zephyr 155 ST
2002 Litespeed titanium

hockeyshifter · Posted: Sun Mar 15, 2009 1:14 am Post subject:

there are a lot of issues with PAYPAL. just google the name with sucks in the field.
do your home work and look for possible alternatives. the problem with paypal it is a clearing house not a bank. another issue is with taxes.

just food for the gray matter
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fix the problem not the blame ; fix what is messed up ; NO one is to blame.