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How to handle collected money vs. potential refunds?

by Jeremy James
2 replies
Hey guys,

I am going to be doing a product launch next week, (well, start marketing my e-book on a MUCH NICER site, so, to me, it will be like a launch.) Anyway, I am offering a 30 day guarantee.

My payments will be received through Paypal. How do I handle things like refunds?

Do I keep any money from sales in my paypal account for 30 days from the date of receipt before I withdraw it?

What about Paypal fees? If I have to refund, does Paypal eat those fees?

If I were to withdraw the money from Paypal to my checking account, and someone refunds, does the money come back from my Paypal account to the customer's account?

Thanks.

Jeremy
#collected #handle #money #potential #refunds
  • Profile picture of the author CyberAlien
    You can withdraw them at any time but it is safe to assume that anyone could file a chargeback within 90 days of their payment.

    If you refund the money via PayPal then they handle the fees for a full refund. If a customer files a dispute, then the money is temporarily taken from your PayPal account until PayPal decides if you get to keep it or if the customer will get it back.
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  • Profile picture of the author Bruce NewMedia
    You would be wise not to withdraw all your monies from PP.

    Leave a certain percent (opinions vary) in the account for at LEAST 30 days. You don't want PP to start having to go into your bank acct to retrieve funds to make refunds.
    _____
    Bruce
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