posted on June 14, 2003 07:22:36 AM new
If you receive an average of $1000 per month in your Paypal account, you can get a lower merchant rate. The base rate is 2.9% and all you have to do is ask for the lower rate of 2.2%. They do not make it obvious. Just look for the merchant rate link and then apply. You get the discount immediately if you meet the criteria.
posted on June 14, 2003 07:41:27 AM new
the criteria is that you must have a competitive offer from a merchant account provider.unless they have made changes recently.
posted on June 14, 2003 07:58:02 AM new
Using the PayPal debit card wisely will give you the biggest reduction on your PayPal fees. The merchant rate is good also. There are 3 ways to qualify for a merchant rate, here is PayPal's Merchant Rate Criteria.
posted on June 14, 2003 08:52:57 AM new
THANK YOU MARCN !! THANK YOU!! I never HEARD of a merchant rate!! They certainly don't make it obvious..and NO YOU DON'T HAVE TO HAVE A COMPETITIVE OFFER! I was approved in a nano-second!
I should add that I didn't see a link for "merchant rate" so I did a search (under help) for "merchant rate" and the very last item on the page is where i found the link.
[ edited by neglus on Jun 14, 2003 08:54 AM ]
posted on June 14, 2003 10:35:20 AM new
Uaru: I've been mulling over the whole PayPal debit card idea. I've held back because I think they have a requirement that PayPal can be the only online payment option offered in one's auctions. But, I also encourage BidPay, especially for international sales. I have a c2it account, but I don't mind dumping them since they can't find their own......well, never mind.
Do you know if that requirement is strictly enforced? Or, if BidPay is considered a no-no (for purposes of their debit card/cash back offer)? Thanks in advance.
posted on June 14, 2003 10:44:11 AM newThe criteria is that you must have a competitive offer from a merchant account provider.unless they have made changes recently.
The only time you need a merchant account offer is if you get less than $1000 a month in payments. If you reveive over $1000 in payments every month then all you need to do is apply.
I have had the lower rates for about 8 months. There is no reason not to apply for it if you use paypal that much.
I also use the paypal debit card with the 1.5% back on top of the lower rates.
posted on June 14, 2003 11:19:43 AM newmypostingidUaru: I've been mulling over the whole PayPal debit card idea. I've held back because I think they have a requirement that PayPal can be the only online payment option offered in one's auctions.
You can offer any payment method you want in your EOA notice or your eBay "ME" page. How strict is the enforcement on the auction listings? I'm pretty sure they don't check it manually, since you have to supply your eBay ID they can do a sample check periodically if they want to.
The merchant account can save you 0.7% over the standard account, and that's good, but the cash back debit card program can effectively drop you 1.5% from what ever rate you're paying, and that's gooder. I've used the PayPal debit card since Feb 2001 and for me I can move virtually all my PayPal funds with that method alone. I got a second card for my wife. She's a real trooper and does way more than her fair share of moving the PayPal funds .
Buyer -> PayPal -> your debit card. It doesn't get any easier than that.
posted on June 14, 2003 11:21:53 AM new
I've been using PayPal since last fall and have it as a preferred payment option on eBay -- but I also have BidPay now, too.
I've been paying the 2.9% - but using the debit card as well - reducing my fees to 1.4% - it'll be tough to find a lower rate for a merchant account...
I had a merchant account several years ago and all of the monthly fees were a pain - paying per batch, per monthly statement, etc.
Wayne
Trying to Make a Difference - One Satisfied Customer at a Time....
posted on June 14, 2003 11:25:53 AM new
Stopwhining:
You do NOT have to provide a competitive offer to get the 2.2%. If you have a competitive offer that is less than 2.2%, Paypal will match it if you have the offer in writing.
posted on June 14, 2003 02:16:14 PM new
Debit card users: Better be careful with that card at all times. Lose it (or have someone steal the information off it), fail to report the loss within 48 hours, and you're zapped with $500 worth of any charges made on it. Many transactions do not require a PIN or identification.
I am human, I lose things occasionally, I know this and that is why I don't have a debit card.
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posted on June 14, 2003 03:45:21 PM new
Without the pin it works just like a credit card.
The only problem I ever had with it is the 30 transactions per day limit. I went over once but usually average about 20 per day.
posted on June 14, 2003 07:58:02 PM new
Well, no, sapington.
With my credit card, if it is lost or stolen the most I am liable for is the first $50.
Debit cards operate under different rules.
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California voters: Be a part of the first-ever successful gubernatorial recall! Defy media pundits! $21 million of our money is going down the tubes daily because of our incompetent corrupt governor. Visit http://www.recallgraydavis.com to download your recall petition.
posted on June 14, 2003 08:30:02 PM newfluffythewondercatWith my credit card, if it is lost or stolen the most I am liable for is the first $50.
Debit cards operate under different rules.
Here's PayPal's terms on your liability if you lose your debit card card.
If you tell us within two days after you learn of the loss or theft, you are covered on MasterCard's Zero Liability policy someone used your Card or other Access Device without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your Card or other Access Device, and we can prove we could have stopped the unauthorized transactions if you had told us, you could lose as much as $500.00.
posted on June 14, 2003 09:53:57 PM new
A major problem I have had with it and also have had at my place of employment is with customers calling in with their PayPal cards is they have a very high rejection rate for over the phone authorizations. I have been keeping track over the past 3 months (when I realized to keep track) for all of the over the phone authorization for payments of merchandise. When a card gets rejected, we must call the customer back to notify them of the problem. Then I ask who the card was issued from. Over three months, we had 18 rejections. 13 of those were PayPal accounts. Of those 13 accounts, all were able to send payment via the paypal system from a balance funded payment. Turns out their debit card system isn't all what they promise.
posted on June 15, 2003 05:42:39 AM new
once expo(home depot) issued me a credit back to my paypal debit card,they tried several times and never make it.
it was for 100 dollars.
posted on June 15, 2003 08:27:22 AM new
Yes, uaru, that's what I said.
My last ATM card was missing for a week before I discovered the loss. If it had been PayPal's debit card, I'd be $500 poorer.
No, thanks.
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California voters: Be a part of the first-ever successful gubernatorial recall! Defy media pundits! $21 million of our money is going down the tubes daily because of our incompetent corrupt governor. Visit http://www.recallgraydavis.com to download your recall petition.
posted on June 15, 2003 08:55:54 AM newfluffythewondercatMy last ATM card was missing for a week before I discovered the loss. If it had been PayPal's debit card, I'd be $500 poorer.
Apparently I'm reading the agreement different than you.
If you tell us within two days after you learn of the loss or theft, you are covered on MasterCard's Zero Liability policy someone used your Card or other Access Device without your permission.
posted on June 15, 2003 09:11:38 AM new
uaru,
fluffy did not find out in 2 days her atm debit card is missing,she found out in one week.
it is not a paypal card.
posted on June 15, 2003 09:17:30 AM new
ever wonder how our parents manage to raise all these kids,cook all the homecook meals and wash all the dirty clothes without credit card,debit card,pizza delivery,chinese carryout,SUV and buy now pay later merchandise??
i used to watch my mother holding on to her handbag when we go shopping and she has wads of dollars bills with her??
she will bargain hard,she will recompute the totals the sales clerk quoted her and she will fight her way onto a bus ,coming home triumphantly without losing one lousy package or getting pickpocketed??
posted on June 15, 2003 11:03:49 AM new
No, I'm just more cynical than you. Experience does that to you.
1) you learn of the loss,
2) report it.
I don't for one second believe the wording of their policy as written, because you could claim anything you like...and so can they.
"Isn't it true, ms. uaru, that you knew right away you lost it, but are only getting around to calling us now? Unless you can prove to us you only just found out, sorry. $500."
Part of MasterCard's so-called Zero Liability Policy is that you must "exercise reasonable care in safeguarding your card and number". Who gets to define reasonable? Not you, that's for sure. MasterCard's lawyers.
Look, in the course of a long and varied life I have been screwed over by banks, financial institutions, landlords and corporations TOO MANY TIMES to not to be cynical of their motives. Policies such as PayPal's and MasterCard's are marketing tools, not guarantees.
--
California voters: Be a part of the first-ever successful gubernatorial recall! Defy media pundits! $21 million of our money is going down the tubes daily because of our incompetent corrupt governor. Visit http://www.recallgraydavis.com to download your recall petition.
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