Hi all,

Right Ive seen many of these "horror" stories of PayPal and tbh i dont know if my nerves can take it. 90% of our business strategy is done via PayPal which is 90% of our income :-/ If our paypal account gets locked for some random reason then we basically cant pay our bills.

We have been running two years and I cant fault PayPal at all and we have never had a problem but i just cant be ignorant to the stories.

So my business partner and myself have a meeting with Lloyds TSB rep on friday concerning a merchant account so we can get Protx but looking at peoples reaction to merchant account with UK banks its quite an investment...

Unfortuantly 2co is out as most of our business is gaming servers, while once I was quite discusted at WorldPays fees now Its looking rather attractive. Has anyone got any other recommendations for UK merchant accounts or processing which ideally would support modernbill.

Finnally has anyone else had these fears with PayPal or am I just worring about nothing :(

Chris

I have never had any problems with 2CO or PayPal, I've been using them for years to process thousands..

I think you will find these people with horror stories are A) kids, B) doing illegal things they shouldn't, C) or kids doing illegal things they shouldn't. :x

Don't stress, those two are great merchants and in my experience make a great pair.

Well just contacted 2co after reading on these forums that they maybe moving game servers into the restricted category.

The category that may go onto the restricted list is not for game server hosting- that will still be prohibited. What may go onto the restricted list (meaning that they would require pre-approval by our Risk department after a review of the site, and also higher fees and higher reserve levels) would be actual game owners (those who actually own the copyrights to the games) who may offer a non-recurring game service to adults only.
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Thank you,

MOSBORN
www.2co.com

Even when trying to prove my company has nothing to do with gambling they have said no to video game server hosting.

Looks like its either world pay :( anyone else got any ideas?

I've been with PayPal for 2 or 3 years or so, lots of smooth transactions. Very few complaints.

Only problem I know of with PayPal: they don't really provide customer service. That can be very frustrating, for example, if you have a chargeback.

Good idea to keep up to date on their policies and to read their documentation.

You'd better watch out. PayPal is full of $hit. They take your money, provide almost no customer service other than automated replies, and if you ever get caught in a jam, don't ever expect them to help you in any way.

PayPal and eBay operate the same way. They're more than happy to take your money, but don't want any further dealings with you after that.

If a client can pay by Paypal, they can pay by credit card and/or checking. Why not ditch the middleman and get a merchant account? Last time I checked, Paypal takes a larger cut too than a merchant account, all the while providing LESS protection. Why anyone would ever want to accept Paypal is beyond me.

May I ask whats wrong with a Lloyds Merchant account and accepting CCs etc?

You'd better watch out. PayPal is full of $hit. They take your money, provide almost no customer service other than automated replies, and if you ever get caught in a jam, don't ever expect them to help you in any way.

PayPal and eBay operate the same way. They're more than happy to take your money, but don't want any further dealings with you after that.

If a client can pay by Paypal, they can pay by credit card and/or checking. Why not ditch the middleman and get a merchant account? Last time I checked, Paypal takes a larger cut too than a merchant account, all the while providing LESS protection. Why anyone would ever want to accept Paypal is beyond me.

And is this on experance or not? Whats your company address?

Originally posted by Alex Fernandez
May I ask whats wrong with a Lloyds Merchant account and accepting CCs etc?

At the moment, from what I have read its quite high setup fees and monthly fees. We have a meeting with our Lloyds TSB business advisor on Friday to hear what the actual costs would be etc

i wanted to start a biz using paypal because they use cc now but i know how u feel buddy i come to this forum and im just like wow what to do now the guy who said they only disable accounts for kids idiots illegal stuff is proberly right but grrrrrrrr either way lol gl in hunting

Worst case scenario is what? they freeze your account.

Just push all your money in and out as fast as possible. Minimize your risks.

Thats my strategy in dealing with any third party.

Originally posted by mythologen
Worst case scenario is what? they freeze your account.

Just push all your money in and out as fast as possible. Minimize your risks.

Thats my strategy in dealing with any third party.

But if thats the main source of your income your rather screwed :p

If your operation is large enough for you to be concerned, I'm sure you can foot the bill for a merchant account. A £5 rise in your gameserver prices wont ruint he business.

True, do you know what the "basic" costs (if there is such thing) with a Lloyds Merchant Account?

TheGreat1, sorry never asked (Lloyds is my personal bank only).

http://www.lloydstsbbusiness.com/otherproducts/movingmoney.asp

Well we have the Cardnet Rep Calling us on Monday :)

I would love to find an alternative to paypal, If anyone has any facts on how much lloyds charges, be good to post this

Its all generated on how much turnover your company has :(

Originally posted by JoshuaJames

I think you will find these people with horror stories are A) kids, B) doing illegal things they shouldn't, C) or kids doing illegal things they shouldn't. :x

[/B]

haha, just love the last part !!

You are going to find most merchant accounts charge a flat per month fee for service and take out a percentage of each transaction. So yes cost is determined by your business model.

Paypal freezes alot of members accounts and holds the funds for 180 days. They do this to make money on the interest to make up for the losses they have on fraud and chargebacks.

Here is a site with a ton of info. It has some info from a couple of former Paypal emplyees.

www.paypalsucks.com

Here is a funny comic about Paypal.

http://paypalsucks.com/graphics/PPS-Cartoon1.gif

Yes, I'm sure that site is very subjective, considering theyre' an affiliate for another company.:rolleyes:

EDIT: And apparently you are as well, considering your pimping them here, hmm.
http://www.webhostingtalk.com/showthread.php?s=&threadid=444603

Paypal has it's goods and bads. If you have been in business for 2 years have you not yet built up a reserve to safeguard yourself for a few months?

It is not an if for Paypal freezing an account if you do high volume it is when. The major thing is to be prepared for it not only by having backup funds but also by having all your financial/ownership documents ready to give them.

By being prepared you can limit the lenght of the freeze.

Every company who had done large amounts of transactions through paypal that I know has at one time had there account frozen. The difference is that most of these don't report "paypal sucks" etc... because they were prepared for it, handled it, and once the verificatoin is all done they knew they did not have to expect it a second time.

Originally posted by funkytaco
Yes, I'm sure that site is very subjective, considering theyre' an affiliate for another company.:rolleyes:

EDIT: And apparently you are as well, considering your pimping them here, hmm.
http://www.webhostingtalk.com/showthread.php?s=&threadid=444603

No I'm not trying to pimp them, I just found some useful information there that may help someone here. The sight is not subjective,its based on true facts and I found them after a bad situation I had with paypal.

Originally posted by l.stevens
Paypal has it's goods and bads. If you have been in business for 2 years have you not yet built up a reserve to safeguard yourself for a few months?

It is not an if for Paypal freezing an account if you do high volume it is when. The major thing is to be prepared for it not only by having backup funds but also by having all your financial/ownership documents ready to give them.

By being prepared you can limit the lenght of the freeze.

Every company who had done large amounts of transactions through paypal that I know has at one time had there account frozen. The difference is that most of these don't report "paypal sucks" etc... because they were prepared for it, handled it, and once the verificatoin is all done they knew they did not have to expect it a second time.

That is very good advise. Dont put all your funds in a paypal account. But I do know of business that used paypal for a long time and when a customer used a fraudelent credit card paypal froze the account for 180 days. Alot of people dont know whats going on behind the scenes at paypal.

Just dont leave too much money in your paypal account just in case,i never have more than 150$ on my account for more than a week :o

Originally posted by mythologen
Worst case scenario is what? they freeze your account.

Just push all your money in and out as fast as possible. Minimize your risks.

Thats my strategy in dealing with any third party.

Ditto. If you call PayPal, you can have them activate Auto-Sweep, which will automatically transfer any funds in your account to your bank at the end of each day. You can't turn this on yourself - you gotta call them up to get it done.

Ian

Well just ...

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The category...

MOSBORN
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...Looks like its either world pay :( anyone else got any ideas?

Who is the Owner or "GREAT ADMIN" of 2CO ?


Neva Johnson
MOSBORN
Tom Denman
David Homewood
Tellie Bowen
... etc

Today by Today Who is the REAL "GREAT ADMIN" in 2CO ?
Some URL ?

http://en.wikipedia.org/wiki/2Checkout.com

http://en.wikipedia.org/wiki/2Checkout.com no info about OWNER or "GREAT ADMIN"

Quickbooks offers a reasonable online merchant account - or you could try propay.com, bidpay or google checkout.

I have been using paypal for quite some time now. And it think using Paypal is quite risky. Though I am still using it as it is one of the best options on the net.

One fine morning I received an email from Paypal saying that my account has been restricted as they are suspecting that someone else has access to my account. I had about $500 in my account then. There is no way they will respond to your queries and they will not listen. For nine months I could not operate my account and at that time I was using ccavenue.com for accepting all credit card payments. CCAvenue.com is really good, only their charges are much higher.

I got so frustrated that I wrote an email to Paypal customer service that they should just go ahead and close my account and they might just as well keep the $500, which anyway seemed to be their only intention. I told them I will go with Google Checkout.

In a couple of days I got this email saying that their INVESTIGATION is over and they are removing the restriction on my account and I could withdraw as well as accept payments now. I think Paypal has softended down a little bit since Google Check out.

Can you believe after all this I am happily using Paypal again. I just keep my fingers crossed that they don't freeze my account again.

Paypal is a known for smooth transactions and very few complaints.

I have to say that Paypal
1. Popular system
2. The trusted one
People trust it. (I mean people which make payments).
I think that each vendor must have paypal or 2CO at least.
Such system are designed for buyers first of all.

If you are using your Paypal account for business (any critical purpose) then you should try to get hold of one of their account managers. Usually they will assign one to you automatically if the volume of transactions on your account is high enough (in our case). But in other cases, you should be able to contact one of them and keep that contact for emergency situation. They will usually respond to you much, much faster than their regular support (which can take days!).

Tom

We've never had any problems with Paypal but we've been having strange issues with people changing their expired credit card - and bang! Their subscription gets canceled without their notification. That's been the biggest drawback. And their tech support is in a foreign country where I don't understand a word they say. That being said 2 out of 5 calls have been helpful.

We are also looking for another solution and thinking about Authorize.net.

But have been using paypal for 3 years and 2checkout for 2 and so far so good. However would love to have our own merchant system at some point too so I get your worries.

As for credit cards and Paypal. I'm personaly and some friends of mine have troubles with paying for goods through Paypal credit card processor. Dificult to say about others, but seems they are really good in no credit card payments.

I have to say that Paypal
1. Popular system
2. The trusted one
People trust it. (I mean people which make payments).
I think that each vendor must have paypal or 2CO at least.
Such system are designed for buyers first of all.

I 100% agree to you

we can sell from Colombia with Paypal ?