PayPal

[Volvo_ST1]

Originally Posted By: bradepb
If you insist on using paypal do it with a seperate bank account and only have enough money in it to pay for your purchase.


Well, I never pay for purchases with money out of my bank account through PayPal. I always pay out of the PayPal account. I don't buy much anyway.

But yes, I should use a separate account for linking to PayPal. I don't even remember why I had to link my account. Maybe it's because it's a Premier Account, which allows me to accept credit card payments?

 

[Pablo]

We do enough business through the evil empire (Paypal) that we had to provide our EIN. We were not given an option, it's part of new Federal tax laws that kicked in in 2011. The good news is that of course there is no WD limit. We only had one ugly loss in 2009 do to a Canadian swindler chargeback. Paypal claims they protect merchants. Not. Paypal protects Paypal.

Funny that our one chargeback on our credit card side came out squarely in our favor and doing it through the bank was very easy. Paypal tries to make it seem like they are the "easy" company. Merchant credit card set up is a little challenging, but is WAY WAY less monthly maintenance. We get a DAILY deposit of 100% of the CC collections. I would drop Paypal but about 40% of our business is through Paypal. Interesting that the fees are nearly exactly the same percentage between the two.

I sweep money regularly into a bank account, from Paypal. I have a separate company credit card linked. With all my griping we've had zero Paypal problems since August of 2009.

 

[Autobahn88]

This is the reason I have a separate credit card with a low limit for internet purchases and paypal. If I get hacked I won't get stung hard.

 

[The_Jeff]

but can you spend money above the $500 limit thru paypal on every day living stuff? I can pay my car insurance bill with it for example and even buy parts from advance auto.

 

[Virtuoso]

PayPal = Nazi's

 

[sentra]

Originally Posted By: eljefino

but can you spend money above the $500 limit thru paypal on every day living stuff? I can pay my car insurance bill with it for example and even buy parts from advance auto.


As long as the merchant you are doing business with accepts Paypal, you can spend as much as you want. There are no limits.

Paypal would like you to conduct business via their payment method; more revenues for them.