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I've been preaching this since forever. Don't rely on PayPal. They're less professional than a kid selling juice next to the road. There are no grace periods
by chmod775 8y ago
I've been preaching this since forever.
Don't rely on PayPal. They're less professional than a kid selling juice next to the road.
There are no grace periods with PayPal to give you time to move to another service.
There is never more than a generic reason and stonewalling when they terminate you.
And yes, their decision is always final.
They'll happily terminate your only source of income on a friday afternoon, freeze your funds, then laugh at you as you scramble to get an alternative up and running.
Don't build on PayPal. It's no foundation at all.
- giancarlostoro 8y agoTheres at least third party options that leverage paypal indirectly (and other services) 2checkout comes tk mind which is what I suggest if you like having the option of PayPal. I havent touched 2checkout in ages so no idea its state. Also like they say... Dont put ALL your eggs into one basket!
- oftenwrong 8y agoWhat alternative would you recommend? Specifically, I am interested in a method of paying independent contractors.
- dboreham 8y agoA bank?
- dingdingdang 8y agoYes, very interested as well, is Swipe any better? Or where do people go when both one off and subscription payments are required?
- hyperknot 8y agoLocal bank transfer to Transferwise Borderless Accounts.
- jeltz 8y agoBank wire transfers? That is how contractors are typically paid. I have never heard of anyone paid any other way here in Europe, and as a contractor myself wire transfers is the only form of payment I can accept. I guess in North America checks would work too.
- ghaff 8y agoIn the US, a check is still pretty much the way to pay money to individuals. (Or cash for non-business person to person payments in person.)
- 55555 8y ago> And yes, their decision is always final. Perhaps their decision to close your account is always final, but don't lose all hope after having your funds frozen. I had 25-100k frozen (can't remember how much), and picked up the phone and called them and it was unfrozen within 48 hours. Paypal is god-awful though and should be used as little as possible.
- dTal 8y agoWhy do we call it "frozen"? It sounds more like "stolen" to me.
- jdironman 8y agoRight, if someone says alright, put your money in this box. But then they take the box and close it and say no, you can't open it, Sorry. What does that sound more like? Frozen, or stolen?
- vntok 8y agoFrozen, as long as they don't take the money either.
- teddyh 8y agoBut with PayPal, that’s not the case. Your “money” in your account at PayPal is just a number in a table. The actual money, however, is in PayPal’s bank account where it is earning PayPal interest and investment opportunities.
- drc500free 8y agoTo be fair, anything other than M0 (physical cash) is just a number in a table. Banking regulations that ensure ease of access are the only reason other "numbers in tables" are considered part of the money supply.
- tluyben2 8y agoAgree with this 100%. It's nice for consumers who want to screw merchants (sure, I assume there are some legitimate charge backs as well), but for merchants it's hell on earth unless your business is a bit a of hobby thing and you don't care if you lose whatever is in PP + PP access itself overnight without any reason.
- jasonlotito 8y ago> Don't rely on PayPal. Don't rely on any single point of failure. Don't kid yourself. No payment processor is your friend, and if you think that, you're a fool. Have multiple payment processors, and be prepared for bad things happening. The reasoning isn't as simple as PayPal or Stripe are out to get you. Rather, there are many banks and many laws, both in your home country and internationally that can affect your business. And in the end, they won't risk their business for you, no matter how fair or unfair it is.
- neop1x 8y agoAlso if you own a physical store, always make sure to accept cash also. Don't rely to card providers which also collect huge amount of data and have their own terms. Centralization and reliance on single entities are not good...
- duxup 8y agoIn fiction the concept of a big nightmare where some capricious AI making arbitrary decisions and imposing them on humans with no recourse or option to reason would now seem unnecessary. Google, paypal, plenty of other companies are lead by humans who are willing to just do that to other humans as a matter of doing business.
- mojomark 8y agoComment below states Niteo is a spam creator, so the block seems justified. FWIW, PayPal has always worked for me and customer support gets the job done. Not sure what the problem is if your operation is legit.
- Notorious_BLT 8y agoDoes that mean they aren't allowed to send and receive payments? Why is a middleman service in the business of determining that they shouldn't be allowed to send and receive money? Was Niteo misusing their service?
- lighthazard 8y agofreeze your funds This is the biggest reason I don't suggest Paypal to anyone. The fact that you can lose $5k+ because of someone on their end with no fraud issues and legitimate sales (which they can easily verify) is theft.
- balozi 8y ago"Don't rely on PayPal. They're less professional than a kid selling juice next to the road." I am constantly surprised that in this age businesses are still surprised by PayPal shenanigans. I remember coming to the same conclusion almost 18 years ago.
- deleted 8y ago[deleted]