The Dark Side of Credit Card Payments to PayPal [Contract Worker]

02-29 ||  Readers: 7

More articles from:

http://www.b5media.com Business - Channel Feed
Articles from the b5media Business Channel
6475     1

Just spreading the word about PayPal folks:

I’d had the option to accept credit card payments in PayPal, which didn’t bother me at the time as the transaction was quick and I saw the funds instantly. However, what I didn’t know, and I found out the hard way was that I really wasn’t protected by PayPal and that the client can easily reverse the transaction.

Thanks to Cara Williams‘ unfortunate story, I’m currently wondering:

  1. Should we ask clients to not pay through PayPal with their credit cards?
  2. If we’ve withdrawn our PayPal funds into our bank account (a process made easy by our bank’s online account management interface), would the client’s payment still be reversible?
  3. Most scary: If your account had zero funds, would PayPal charge the reversal against future income?

Share This

Like this article? Click “Recommend” to let others know your interest. Click "Tool Box"-> "Save" to add this article as your favourite.

Articles: