Quote:
Originally Posted by JimmyH155
Then they said they were going to put a little bit of money (less than a $) into the a/c to prove all is well....is that fair dinkum???
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I don't understand what your question/concern is, perhaps you could elaborate?
They do the transaction to confirm that you own the bank account you have entered. When you receive the transaction you need to relay back to Pay-Pal information contained in that transaction. In that way they ensure you are a person who has access to that bank account, that you haven't entered details of someone else's bank account that you're going to try and fraudulently take money out of.
I haven't had problems with Pay-Pal in the 8 years I've used it for selling & buying. They do charge a percentage fee (charge it to the seller), but from a merchant's point of view that percentage is likely quite competitive (it does depend on a lot of factors such as amount of $$ transacted for a period) - For example if the percentage is 3%, and you're doing low volumes, a comparison would be having a bank internet merchant account together with an alternative payment gateway, resulting in a merchant fee from the bank of about 3% - 4.5% plus a fee from the payment gateway of choice (usually a transaction fee along the lines of 50c/trans). The story is different for large volume merchants, where bank merchant fees come down to 1.5%-2.5%.
Roger.