[ceo77]

Shouldn't be a problem, if you and your customers are in the U.S. and you have a legitimate company that pays taxes and offers phone support.

Merchant account - bad/no credit so thats out of the question
paypal - they can go into my bank account without my authorization so thats out of the question.

I don't really like dealing with credit cards because

1. Its money they don't have.
2. Unwarranted chargebacks

I'm only doing wire transfers and western union. All I have to do is make sure the customers and trace everything back to me so they won't have to worry about being bamboozled.

[jasaunders]

LMAO. Good luck buddy.

[ceo77]

Originally Posted by jasaunders

LMAO. Good luck buddy.

Thats the thing, people have scammed and scammed so much, that people don't want to do western union/money transfers anymore. Merchant accounts cost too, much and paypal is more buyer friendly than anything. Paypal can go into your bank account and take out money or freeze your account for months so I LMAO at that. I could understand if you were dealing with someone in another country, but if its within the U.S. then it shouldn't be a problem. There's no seller protection and buyers realize that. So I don't get as many customers as I want but oh well. I deal with international businesses for the most part and their payment of choice is letter of credit. People are too quick to follow everyone else. Paypal is too risky for the seller and merchant accounts are not cost effective.

[jasaunders]

Paypal can not go into your bank account and take money nor can these freeze your bank account. Wherever you got that information from is completely false. Paypal can freeze your paypal account.

The reason people don't use wire transfers is because they are incredibly expensive. You think merchant accounts and paypal is expensive? You have obviously never used western union and sent $200 for a $20 fee.

If a merchant taking a 3% transaction fee is not cost effective, then you have to seriously rework your business. You will get very little if any sales at all with only wire transfer.

Are you selling B2B? There is a big different between selling to consumers and selling to businesses.

[ceo77]

Originally Posted by jasaunders

Paypal can not go into your bank account and take money nor can these freeze your bank account. Wherever you got that information from is completely false. Paypal can freeze your paypal account.

The reason people don't use wire transfers is because they are incredibly expensive. You think merchant accounts and paypal is expensive? You have obviously never used western union and sent $200 for a $20 fee.

If a merchant taking a 3% transaction fee is not cost effective, then you have to seriously rework your business. You will get very little if any sales at all with only wire transfer.

Are you selling B2B? There is a big different between selling to consumers and selling to businesses.

I do B2B 95% of the time, and its all Letter of Credit. I want to expand to the consumer market, but right now, the market is too big, and it takes more work/marketing. As far as paypal taking money out of your bank account, it happened to a friend of mine. Customers pays $1600 for a computer through paypal, and my friends takes the money to have his computer custom built by one of his distributors. He made it clear to the customer that it would ship between 7 to 10 business days, but the customer complained and wanted his money back after only 4 days. Since the money was already taken out of the paypal account, they charged his back account. This is truth.com

Paypals seller protection is a joke. I don't do enough transactions to warrant a merchant account. As far as wire transfers, the fees associated are deducted from the purchase price. So at the end of the day, its all about trust. Its too easy for buyers to claim fraud on everything. If the got o problem, they have my name, company name, phone and address.

[jasaunders]

If you're doing B2B transactions, you can just as easily use letters of credit in the US as well. Most businesses won't even require LOC's, they are satisfied just when you provide bank references.

[ceo77]

Originally Posted by jasaunders

The reason people don't use wire transfers is because they are incredibly expensive. You think merchant accounts and paypal is expensive? You have obviously never used western union and sent

And paying interest on credit cards isn't. I would rather deal with people that actually have the money and not using credit cards.

[ceo77]

Originally Posted by jasaunders

If you're doing B2B transactions, you can just as easily use letters of credit in the US as well. Most businesses won't even require LOC's, they are satisfied just when you provide bank references.

All of my B2B's are overseas companies. I've only drawn interest from consumers in the U.S. thus far.

[jasaunders]

credit cards are free if you don't carry a balance.

The people that use wire transfers are the people who can't qualify for a credit card. Often times it is immigrants that use wire to send money to other countries.

[ceo77]

Originally Posted by jasaunders

credit cards are free if you don't carry a balance.

and most people do. If you could pay off a $2000.00 balance at the end of the month, then whats the purpose having having a credit card. Having a balance and making payments is what builds credit. If you simply pay the balance at the end of the month, its doing you no good. But realistically, most consumers do have a balance.

[jasaunders]

I don't even know why I replied to this thread in the first place. Waste of my time. You have no clue.
Good luck with your business.