Only offering Western Union and Wire Transfers as a payment option...

**ceo77** · 07-19-2007 12:31 PM

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** · 07-19-2007 12:53 PM

LMAO. Good luck buddy.

**ceo77** · 07-19-2007 01:06 PM

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** · 07-19-2007 01:25 PM

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** · 07-19-2007 02:15 PM

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** · 07-19-2007 02:25 PM

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** · 07-19-2007 02:27 PM

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** · 07-19-2007 02:31 PM

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** · 07-19-2007 02:32 PM

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** · 07-19-2007 02:53 PM

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** · 07-19-2007 02:58 PM

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.

**ceo77** · 07-19-2007 03:06 PM

Originally Posted by 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.

Actually, I do have a clue. I have a choice as well. Just because you dissagree, that doesn't make me clueless.

**usakos** · 07-19-2007 03:18 PM

So, let me understand this.

You're saying that if I own a business, that I shouldn't use or accept PayPal because they get into people's accounts and take money or freeze the account and not have a merchant account to accept credit cards payment or eCheck because they are expensive?

If this is what you're saying, then my question is this;

what country are you in and what kind of business are you involved in?

**ceo77** · 07-19-2007 03:35 PM

Originally Posted by usakos

So, let me understand this.

You're saying that if I own a business, that I shouldn't use or accept PayPal because they get into people's accounts and take money or freeze the account and not have a merchant account to accept credit cards payment or eCheck because they are expensive?

If this is what you're saying, then my question is this;

what country are you in and what kind of business are you involved in?

Nah, i'm saying that if you do business withing the U.S. you shouldn't have to be limited to PayPal and merchant accounts. I'm saying that PayPal Seller Protection is a joke. I'm saying that its easy for credit card users to get chargebacks if has a scratch on it. They can do chargebacks 2 months AFTER purchase. I'm saying that, I would rather not deal with consumers buying items with credit cards 99.9% of the time. I'm saying that, If I provide my name, company name address and phone number, and we both live in the U.S., then I'm not dealing with paypal or any credit card payments for that matter, because I'M not protected. If you want to use a credit card, then you're going have to come see me in person or sign/fax a seperate notorized contract with MY terms and conditions.

**NeeJam** · 07-20-2007 05:34 AM

Paypal freeze your account for suspicious activity/illegal trading. Regarding chargebacks they dont just give them the money immediately they investigate into it and ask for your feedback into the issue. The dont go dabbling into your bank account either becuase, if they did other money sending services would be #1 over paypal.

Paypal also offer you business accounts so if your recieving alot of payments i recommend getting one of these to avoid problems such as getting your account froze by paypal.

You should also note that only the people banned by paypal for not following the terms etc are saying how bad it really is when in fact paypal are a really good reputable service and if you follow the rules then you will have a good strong working relationship with them.