You Are Nuts To Use Paypal

Reasons why not to be a PayPal virtual terminal vendor.

First, they hold on to 1/3 of your funds for 90 Days, as a supposed safty for them.

Second, a client of mine requested a chargeback for an order they placed. The client mistakenly did this.  Now this 600 dollar order goes in PayPal hell.  First I call the client, and they realize they made a mistake and called American Express.  American Express re releases the funds back to Pay Pay on August 23 of 2011.  I fill out all the paperwork for paypal, they take 45 days to review the documents, they tell me they are going to bat for me in the dispute, and then they tell me that the dispute will take 75 days.  What does this mean?  The answer is that they will release the funds to me 120 days after they received the funds from American Express, if they do that.

This service holds all of your profits for over 90 days on every transaction.  If your utilizing PayPal and then decide to add Virtual terminal, you will no longer get all of your money when the transaction occurs, they will now charge you 30% for 90 days and $30 a month for the privalage.

You have to be nuts to use this service.

Mike Doyle

 

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