So how much business do you think one would loose not using paypal anymore?

cascade

After reading www.paypalsucks.com I'm going to close up my paypal account, change my checking account, & consequently not except credit cards anymore.

I've experienced some decent business on a very part time basis with web site sales/ebay auctions, & I'm wondering how much business I could potentially loose. I've earned the business of some regular customers, & most pay via paypal.

Any opinions would be appreciated! Also, anyone know of a reasonably priced merchant account service that integrates well with an existing web site?

-Sam

nwcs

I had paypal for about a year or so and when I canceled the account in January I didn't notice any significant changes. Except that I don't spend as much on ebay as I once did. That is good. For the coins I've sold since then, it hasn't been a problem. I'll take checks.

onlyroosies

I'm willing to bid a little higher if the seller takes paypal. I have even passed on auctions if the seller does not except paypal.
Its just not worth my time to go get a money order for an item under $100. My kids and my wife do some eBay bidding for
small items and I've told them not to bid on any item where the seller doesn't accept paypal. Now were talking about under
$20 items. On a high dollar coin I wouldn't use paypal anyway. This would be a transaction over $600 or so. Then I would
send a cashiers check.

ANACONDA

I stopped taking paypal about 60 days ago. It does not seem to have affected my sales.

cointagious

though only about 15% of our winning bidders pay with paypal, i believe that eliminating those folks as potential bidders may unknowingly cost you in terms of prices realized.
we've set up a seperate 'papypal' bank account and regularly sweep the money out of the account to avoid the potential pitfalls of paypals heavy handedness.

flaminio

<< <i>After reading www.paypalsucks.com I'm going to close up my paypal account, change my checking account, & consequently not except credit cards anymore. >>



Do be aware that that web site was set up by a competitor of PayPal's. It's not exactly an unbiased source.

flaminio

cointagious: The picture in your sig, aside from being ghastly big, is a fake. It's a photoshop. Snopes as the scoop here.

flaminio

Might as well make one on-topic post to this thread -- unless it's a drop-dead, gotta-have-it coin, if you don't take PayPal, I won't bid. Simple as that. Checks and MOs are too big of a hassle. There's a lot of other sellers out there; I'll juse patronize them, thank you.

ClausUrch

I, for one, like PayPal both as buyer and seller. It is a big pain in the butt to write checks and mail them when it is so much easier to sit at my computer and pay for multiple auctions. As a Seller, I like to have my funds at my disposal right away instead of waiting for someone to send a check and then waiting for it to clear. Most of the time, I roll all of my sold funds into new coins so it is very convenient for me.

ksteelheader

No paypal, NO BID..............Period..............Ken

cointagious

<< <i>cointagious: The picture in your sig, aside from being ghastly big, is a fake. It's a photoshop. Snopes as the scoop here. >>



flaminio, shhhhhhhhh!

satootoko

<< <i>Do be aware that that web site was set up by a competitor of PayPal's. It's not exactly an unbiased source. >>


Flaminio beat me to the punch on that observation.

crito

I noticed a dramatic drop in bidding when Billpoint went dead... and nobody has used c2it with me since they started charging buyers 3% extra. So, I upgraded my PayPal account and the majority of my bidders are paying with it already. The fees are exorbitant, but more completed auctions and higher closing prices probably offsets half the expense.

cascade

See, there are enough of you that say you wouldn't even bother with a bid. I sort of feel that way myself. Maybe a rethink on this strategy would be best.

Anaconda, I would be nervous wreck to pass a 5 digit figure through paypal! You must have a had a small percentage of customers that used it to begin with.

Thanks for all the opinions.

-Sam

pandaman

I never have a buyer request paypal anymore. I used to offer it but when you sell $1000 coin, after ebay fees (listing & final value) & paypal there is $70+/- out of my pocket. Maybe paypal gets more bidders but I don't think it enough to cover increased cost & if working on slim profit margin... When I used papypal as a seller & ended up losing $$ on a sale, I had it with paypal. I have sold same grade coins w/ & w/o paypal in past, & never saw any increase in final price. Yeah, I got more bids but not higher bids.

DenverCoin

All of the people I've sold to have bought the coin, not the convenience. Not taking PayPal may have caused me to loose some bidders, but I doubt it. If it's a coin I want, I buy it regardless if the seller accepts PayPal or not.

Buy the coin, not the convenience.
(No disprect ment for the people who say, "buy the coin, not the holder".

I will not accept PayPal. This is based on a personal experience and not on a competitor's web page.

JMHO,
John

Baley

If I want it enough and it's difficult to find one, I'll bid no matter what the payment methods accepted.
but if it's common and easy to find, and i just want one for whatever reason, then paypal is easier.

ScarsdaleCoin

I dont think you would lose any business

ScarsdaleCoin

This was quite a interesting thread....thanks guys for pointing out about being set up by a competitor...

baccaruda

I'll only bid on an auction without Paypal if I'm getting a great price. Otherwise it's not worth my time to write a check or go find a money-order and wait 3 months to get the stupid thing.

1956Quarter

I think your making a mistake in closing your PayPal account. Don't fall prey to the Liberal rantings of a few who are making a big deal out of nothing. 90% of those complaints on that site are caused by the person making the complaint. PayPal is perfectly safe if you use it wisely and be careful to follow the rules to protect yourself. Your sales will most likely fall about 50%. I've experienced an increase of about that much on my sales now that I've started to accept PayPal. Either way, good luck....

joejeweler

Here's an unbiased source for ya........a link on the search engine www.google.com , with a search under "paypal complaints". The complaints number over 24,300 as of today on a recent search.......and growing! Won't get into it here but they stole $1,800+ out of my account, and unreasonably want about $1,200 more. BAD experience and recommend you research the complaints before you decide to continue to use them!
Joe T

Link to complaints: www.google.com

BTW.....56Quarter......your statements below don't reflect YOUR getting burned by them...........YET! Let's see how you feel when they raid your account without warning or moral justification!

56Quarter quote:

<< <i> I think your making a mistake in closing your PayPal account. Don't fall prey to the Liberal rantings of a few who are making a big deal out of nothing. 90% of those complaints on that site are caused by the person making the complaint. PayPal is perfectly safe if you use it wisely and be careful to follow the rules to protect yourself. Your sales will most likely fall about 50%. I've experienced an increase of about that much on my sales now that I've started to accept PayPal.... >>





<< <i>

<< <i>After reading www.paypalsucks.com I'm going to close up my paypal account, change my checking account, & consequently not except credit cards anymore. >>



Do be aware that that web site was set up by a competitor of PayPal's. It's not exactly an unbiased source. >>