can someone kindly explain paypal How it works
My bank has charged massive fees for the carte blue machine.
Have to change routes/bank
thanks for any help offered.
paypal
-
Hells Bells
- Posts: 13173
- Joined: Sat Apr 30, 2005 8:42 am
- Location: French Alps
- Contact:
For starters check out this old thread. I'll dig out some others for you if you have any more questions.
viewtopic.php?t=2536&highlight=paypal
viewtopic.php?t=2536&highlight=paypal
Re: paypal
Hello Pujols
I can't offer any explanation of Paypal, I'm afraid. But having read other threads here, I do consider that by using a Carte Bleu machine, I pay less fees that I would if I used Paypal.
Are your costs associated with the machine, or the commission on transactions? I get my machine through Credit Agricole and consider them very reasonable.
I can't offer any explanation of Paypal, I'm afraid. But having read other threads here, I do consider that by using a Carte Bleu machine, I pay less fees that I would if I used Paypal.
Are your costs associated with the machine, or the commission on transactions? I get my machine through Credit Agricole and consider them very reasonable.
Hi Pujols,
I suggest you look at this thread and try e-Richard's clever comparison model for Paypal and other methods of credit card comparison. I use Payboxmail which is an online payment system, through my own bank Crédit Agricole, and even with the annual charge and monthly charges for my business account, it is still much cheaper for me to take payment via my bank as long as my income exceeds 10k€. I pay 0,45% per transaction compared to at least 3,5% charged by Paypal.
I suggest you look at this thread and try e-Richard's clever comparison model for Paypal and other methods of credit card comparison. I use Payboxmail which is an online payment system, through my own bank Crédit Agricole, and even with the annual charge and monthly charges for my business account, it is still much cheaper for me to take payment via my bank as long as my income exceeds 10k€. I pay 0,45% per transaction compared to at least 3,5% charged by Paypal.
PayPal
Pujols
PayPal can be very useful (not just for 1000's of ebay buyers!) when you want to take a payment by credit/debit card, particularly, if you've got a USA, UK or Canadian bank account linked to your PayPal account. This is because they verify your account by posting a small amount of your currency into it with a password as part of the payment reference. You then have to follow an email link and provide the password - eureka you're verfied. This provides additional comfort to your customers.
I take the majority of my payments by Direct Bank Transfer or if time allows Personal Cheque, but when someone wants to pay with a card (or even their PayPal account) I've got the means to do it. This way I don't have to go to all the trouble of having a merchant account.
I can still take card payments over the telephone by using a form on my website that links through to PayPal's Standard Payment system, customers can also use the same on-line form too.
Because I'm not a big card taker I'm charged: 3.4% (min £3.60), on a £756 charge this comes to £25.70, it's quite a lot but I don't use agencies so this is acceptable - to a degree - it's very common to be charged a handling fee for paying with a card so I charge 2.5% (min £3.60) and so far no ones balked and in this example I'd recover £18.50, only cost me £7.20.
I use a USA based company for my forms wufoo dot com I have quite a lot so I'm on a monthly fee of $29.95 (bout 20 quid) there are no other transaction charges and I can take up to 3000 transactions a month for this fee. I design all the forms myself online and just paste the html (provided) into a placeholder on my page(s) and that's it. They provide the built-in payment links to PayPal (and many others), there's one for Wordpress user's too.
Taking cards can be fairly cost effective and hassle free - although, you've still got PayPals ts&cs to contend with.
I'm not a wufoo agent just a satisfied user.
PayPal can be very useful (not just for 1000's of ebay buyers!) when you want to take a payment by credit/debit card, particularly, if you've got a USA, UK or Canadian bank account linked to your PayPal account. This is because they verify your account by posting a small amount of your currency into it with a password as part of the payment reference. You then have to follow an email link and provide the password - eureka you're verfied. This provides additional comfort to your customers.
I take the majority of my payments by Direct Bank Transfer or if time allows Personal Cheque, but when someone wants to pay with a card (or even their PayPal account) I've got the means to do it. This way I don't have to go to all the trouble of having a merchant account.
I can still take card payments over the telephone by using a form on my website that links through to PayPal's Standard Payment system, customers can also use the same on-line form too.
Because I'm not a big card taker I'm charged: 3.4% (min £3.60), on a £756 charge this comes to £25.70, it's quite a lot but I don't use agencies so this is acceptable - to a degree - it's very common to be charged a handling fee for paying with a card so I charge 2.5% (min £3.60) and so far no ones balked and in this example I'd recover £18.50, only cost me £7.20.
I use a USA based company for my forms wufoo dot com I have quite a lot so I'm on a monthly fee of $29.95 (bout 20 quid) there are no other transaction charges and I can take up to 3000 transactions a month for this fee. I design all the forms myself online and just paste the html (provided) into a placeholder on my page(s) and that's it. They provide the built-in payment links to PayPal (and many others), there's one for Wordpress user's too.
Taking cards can be fairly cost effective and hassle free - although, you've still got PayPals ts&cs to contend with.
I'm not a wufoo agent just a satisfied user.
"Write something, even if it's just a suicide note"
"There is no human problem which could not be solved if people would simply do as I advise"
"As for my amnesia, I've had it as long as I can remember"
Real name: Steve
Gender: Male
"There is no human problem which could not be solved if people would simply do as I advise"
"As for my amnesia, I've had it as long as I can remember"
Real name: Steve
Gender: Male
I used to do more or less the same thing and ask guests to share the PP fees with me which helps.
but one other thing you do have to look out for is if your charges are in a different currency to your pp account.
For example, most of my guests are from europe etc, so I advertise my prices as euro (cos I feel it's easier for people to compare prices in their own currency).
So my PP invoices were in euro.
But my PP account is a UK one, so bank accounts are UK and I withdraw euro from my PP account and pay it into the UK account linked to my PP account. However, PP's conversion rates are extortionate so there's a big money loss there too which you have to consider.
(but bear in mind that if you use bank transfer instead of PP you'd still have a bank conversion factor when accepting euro transfers to a UK account
I liked paypal because it was easy to identify who payments are from (I send and invoice, guest pays it).
When guests pay by bank transfer, whether to our euro account or a UK one, although I ask them to use their surname as a reference, often I just get a meaningless 'overseas transfer' as the descriptor on our statement and it can be difficult to marry up who paid what; sometimes also the bank take a commision so the amount paid in isn't what was expected.
So PP is good in that way because it's easy to keep track of payments. If expensive.
but I've had to stop using PP as a method of payment now because I could just about put up with the expense of it but now they've added the dreaded rolling retention of funds, which was a step too far for me.
But if they hadn't done that, I would probably still be using it, despite the costs because of the advantages it offers.
but one other thing you do have to look out for is if your charges are in a different currency to your pp account.
For example, most of my guests are from europe etc, so I advertise my prices as euro (cos I feel it's easier for people to compare prices in their own currency).
So my PP invoices were in euro.
But my PP account is a UK one, so bank accounts are UK and I withdraw euro from my PP account and pay it into the UK account linked to my PP account. However, PP's conversion rates are extortionate so there's a big money loss there too which you have to consider.
(but bear in mind that if you use bank transfer instead of PP you'd still have a bank conversion factor when accepting euro transfers to a UK account
I liked paypal because it was easy to identify who payments are from (I send and invoice, guest pays it).
When guests pay by bank transfer, whether to our euro account or a UK one, although I ask them to use their surname as a reference, often I just get a meaningless 'overseas transfer' as the descriptor on our statement and it can be difficult to marry up who paid what; sometimes also the bank take a commision so the amount paid in isn't what was expected.
So PP is good in that way because it's easy to keep track of payments. If expensive.
but I've had to stop using PP as a method of payment now because I could just about put up with the expense of it but now they've added the dreaded rolling retention of funds, which was a step too far for me.
But if they hadn't done that, I would probably still be using it, despite the costs because of the advantages it offers.
Nightowl
Forever going one step forwards and two
backwards......
Forever going one step forwards and two
backwards......
pp
Nightowl
I read your other post regarding the PP Retention system because of your security deposit refunds.
I do similar to you but only for overseas guests (not many of not many PP payers), so, I've not yet been picked up by PP for the same treatment. However, I do buy and sell a lot of stuff on ebay - paying & being paid using PP - so maybe they see my account as being a little different.
When I get paid using PP for my holiday lets inclusive of security deposit by UK guests I transfer the full amount to my bank acct and refund the sd using bank transfer afterwards.
I'd keep picking at them - it has been known for them to relent for some customers.
Steve
I read your other post regarding the PP Retention system because of your security deposit refunds.
I do similar to you but only for overseas guests (not many of not many PP payers), so, I've not yet been picked up by PP for the same treatment. However, I do buy and sell a lot of stuff on ebay - paying & being paid using PP - so maybe they see my account as being a little different.
When I get paid using PP for my holiday lets inclusive of security deposit by UK guests I transfer the full amount to my bank acct and refund the sd using bank transfer afterwards.
I'd keep picking at them - it has been known for them to relent for some customers.
Steve
"Write something, even if it's just a suicide note"
"There is no human problem which could not be solved if people would simply do as I advise"
"As for my amnesia, I've had it as long as I can remember"
Real name: Steve
Gender: Male
"There is no human problem which could not be solved if people would simply do as I advise"
"As for my amnesia, I've had it as long as I can remember"
Real name: Steve
Gender: Male
LV - I just rang paybox and spoke to a lovely lady (Celine I think) who said that you had a got a great deal with your bank - and that normally the % / transaction rate would be between 0.5 - 1.0%, set up costs 390€, 24€/month abonnement (for first 100 transactions per month), and I would need to set up a compte VAD (vente à distane) at my bank - cost as yet unknown. This would give me the facility to take face to face, telephone and web payments.
Very interesting. I asked her to get in touch with ER because they are the ones that take the Gite de France payments, under a regroupement, and he might well be able to negociate a deal for us! I hope I haven't stepped on any toes, but it seems like a good solution, so thanks for the tip.
Very interesting. I asked her to get in touch with ER because they are the ones that take the Gite de France payments, under a regroupement, and he might well be able to negociate a deal for us! I hope I haven't stepped on any toes, but it seems like a good solution, so thanks for the tip.