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Old 09-14-2001, 03:15 PM
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juro juro is offline
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Money matters...

I am considering closing the paypal account, they charge too much for transactions and have ridiculous policies. Paypal is an online pay service. We use them for easy sign ups and fee collection for booking charters, etc.

Any money guys out there have any advice to offer? Are these parr for the course or should I be looking for better solutions?

Case in point:

Each $30 rip trip deposit cost us $.96 to $1.17 in transaction charges. We had 40 paypal deposits (approx 30 of which were used), so their services cost us about $40 for three (potentially four) rip trips.

Also:

I recently got penalized $10 for a $30 chargeback when someone cancelled their deposit thru their credit card company.

Related note:

*** Please do not cancel payments thru your credit card company - this is considered a charge-back and paypal charges a penalty to our account ***

If you want a refund just tell me and I will promptly refund your deposit. I can even do it electronically to the credit card you used to pay it, although they charge another fee for that too.

Anyway, any thoughts on these financial concerns out there?
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Old 09-14-2001, 03:36 PM
JimW JimW is offline
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Oh to have been the one to come up with pay pal......
I'm no money guy, accounting is a 4 letter word to me but I have had to deal with this issue for my company's e-commerce needs.
The merchant account we use gets 2% of the transaction and 30cents/trans. it's an additional 20cents per transaction for online credit verification. I'd say your right in the ballpark. I guess the $10 is like a bounce fee, I have not run into that yet. PayPal is not such a bad deal considering they take care of the certificates, security, and cash transfers.
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Old 09-14-2001, 05:26 PM
jborkowski jborkowski is offline
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agreed

it is the cost of doing business.

haven't done a whole lot of research into the alternatives (of which I believe there are several) but I imagine they're all in the same ballpark.

if you're going to close the account, i believe I am one of those who paid for a rip and never got to use it. feel free to return my payment to my paypal account so you don't incur any additional fees.
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Old 09-15-2001, 09:41 AM
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juro juro is offline
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I found out what happened with that chargeback (a member's very efficient wife pulled the trigger when member husband didn't go on the rip trip).

I appreciate the comments, and it would be much easier to stay with what we have than to change.

PayPal lives on the Forum afterall.


Jeff - I can transfer the funds back to your paypal account just like last time.

Juro
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  #5  
Old 09-16-2001, 07:50 AM
marvin marvin is offline
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Juro,

While you're doing Jeff's, maybe you can do mine too? Rip trip ain't gonna happen for me this year

Thanks
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