accepting paypal payments only ? What do you think?

Cat72

Hey despite all the problems with paypal ( excessive charges, chargebacks etc ) it is definately the fastest way of getting payment for sellers.The longest I have had to wait is three days for a paypal payment while people sending cheques usually take forever. Then after you have waited two weeks for them to post the cheque have to wait a week for it to clear, meanwhile they get impatient and send you a neutral !
So I have been considering having my auctions paypal only payments. As i have must be paid in 7 days terms but no one seems to be bothering. I have had to file three non bidders this week alone.Do you think this would be a good idea to have paypal only payments ? or do you think it will have a bad effect ? Or does someone know a miracle way of getting people to pay for the goods they have bought !!

Sofa_Sogood

Can't you have the paypal preferred stressed, yet still offer an alternative?

Sometimes my bank's a bit funny if there's a flurry of transactions, which means writing cheques out.

I haven't sold anything on eBay, but if I ever do I think I'd offer paypal as preferred, then cheques, then postal orders.

Not sure if that helps?

Tojo_Ralph

In a nutshell,

I use paypal to make payment.... Because I am protected by the Chargeback capability.

I refuse to accept paypal as payment.... Because I am wide open to unauthorised Chargebacks.

I accept cheques, bank transfers (who cares who has my branch, account n sort code) and PO's from the UK, with bank transfers and registered $$$ from overseas. I have seen no sign at all that my sale prices suffer for it, rather, I know bidders actually WANT the goods they are buying. That said, I am not selling multiple small value items that attract kids or the brain dead, rather I sell "collectables" I find on my travels.

stavros_2

as a seller i don't think you'd see much harm in refusing to accept cheques...they're a massive pain!

Personally I changed my listings to only accept paypal and bank transfers since the beginning of this year with no problems or loss in winning prices

soolin

As a buyer I won't bid if I can't pay by paypal so it certainly seems to be a favoured method of payment.

As a seller I no longer accept postal orders and hate cheques but take them reluctantly. I try to push bank transfers but very few people take them up which is a shame.

I used to offer nochex but it was a waste of time as I think it was only ever used twice in several years so that just leaves paypal. I'm not quite brave enough to go to paypal only, but about 99% of my buyers use it so it does keep my auction turnovers very fast.

A couple of months back I listed a BIN item, it sold within an hour and was paid immediately and i posted it out the same day and I left feedback. Within 14 hours of the listing I had received positive feedback from the buyer complimenting me on the speed of the transaction. That's how it all ought to go , instead I find myself waiting days for cheques that never arrive.

Soo

biblejohn

A lot of buyers like paypal as its instant and less hassle. They can also pay via credit card which instantly gives you a massive buyers market of people who are snap buyers. If you have to actually find your cheque book and write a cheque out then you are more likely to think again about whether you really need that new handbag or that new mobile phone. If you have paid via paypal instantly then its too late to change your mind afterwards.

We_Laugh_Indoors

stavros wrote:

as a seller i don't think you'd see much harm in refusing to accept cheques...they're a massive pain!

Personally I changed my listings to only accept paypal and bank transfers since the beginning of this year with no problems or loss in winning prices

how would you know if you had made a loss or not in winning prices?

if your listings were paypal only then people without paypal would not bid

unless you always sell the same things that is

stavros_2

We_Laugh_Indoors wrote:

how would you know if you had made a loss or not in winning prices?

if your listings were paypal only then people without paypal would not bid

unless you always sell the same things that is

by selling the same type of things I am able to see quite easily if they're selling for the same price

also, it's quite easy to check other listings to see if those that are paypal only aren't doing as well as those offering other payment options

does that answer your question?

soolin

The only loss I noticed on my listings was when I experimented with *not* accepting paypal, my end prices dropped like a stone.

SOo

Cat72

Soolin - you have mirrored the problems I am having exactly ! and it gets very irritating. I have sold a few thinks on "buy it now " and everyone paid instantly by payapl ( great ) - except one ! who keeped saying she was going to send a cheque then bumped me. ( i just finished her npb alert the other day ).
When I start to think of it even the hassle of going into my bank is a pain- as they only open mon- fri till 4.00! I dont really mind postal orders if they are uncrossed as I can use them to pay for postage. But I have one postal order for £3.50 which is crossed and not really worth my while trying to get parked, and queing in the packed bank.
It is quite intereasting that Stavros says he only takes paypal. I do have paypal as my preffered payment method but it does not help really.I think I might just take the plunge and go paypal only .Reading all your comments just makes me realise what a hassle cheques etc are. Personally I think bank transfers are a great idea, but people seem to wary.How exactly do they work ? as I could offer this too. Does anyone have any hassle when someone chooses to pay this way?
Also I have seen some listings with " IMMEDIATE PAYMENT REQUIRED" how does that work ? or is that viewed as dodgy ? Phew Ta

stavros_2

Cat72 wrote:

Soolin - you have mirrored the problems I am having exactly ! and it gets very irritating. I have sold a few thinks on "buy it now " and everyone paid instantly by payapl ( great ) - except one ! who keeped saying she was going to send a cheque then bumped me. ( i just finished her npb alert the other day ).
When I start to think of it even the hassle of going into my bank is a pain- as they only open mon- fri till 4.00! I dont really mind postal orders if they are uncrossed as I can use them to pay for postage. But I have one postal order for £3.50 which is crossed and not really worth my while trying to get parked, and queing in the packed bank.
It is quite intereasting that Stavros says he only takes paypal. I do have paypal as my preffered payment method but it does not help really.I think I might just take the plunge and go paypal only .Reading all your comments just makes me realise what a hassle cheques etc are. Personally I think bank transfers are a great idea, but people seem to wary.How exactly do they work ? as I could offer this too. Does anyone have any hassle when someone chooses to pay this way?
Also I have seen some listings with " IMMEDIATE PAYMENT REQUIRED" how does that work ? or is that viewed as dodgy ? Phew Ta

Bank transfers are fantastic for a seller but I'm not surprised that not many buyers take me up on it - I pretty much only use paypal for buying things now! The process is very simple however: you give the buyer your sort code and account number and they go into their branch/online banking and set up a payment to you. It only takes a few days and once it's in your account there's no way for them to get it back I've even sold something internationally where someone used my IBAN to do a bank transfer and it went through fine (although be wary of the ~£1 bank charge).

As for the immediate payment required thing. This is an option you can choose if you want to use paypal only on a BIN and I would recommend having it if you went down this route simply because it will put off any scammers (and no it's not dodgy at all...it's part of the ebay payment part). All it does is make sure people pay immediately when they go for a BIN