Need Advice on Payment Processors - 2 Scenarios
Hey all. I am finally going to be more active on here, and will get my post count gradually to 50 so I can finally PM people. 
Anyways, I've some inquiries. Please note I am currently 17 years of age in Canada, so if you can provide insight on my current situation, it would be greatly appreciated.
I've lots of questions here, sorry if they aren't exactly structured in the best way possible. All help of any kind appreciated as well.
It should also be noted that I will operate under a parent's name with their permission, until I turn 18 (in Oct). When I do, I will register an LLC asap.
Scenario 1
I am going to start a brokering business and I will not let anything stop me, however I am unsure of a few kinks here and there. The most notable thing being a proper payment processor to suit my long-term needs.
I understand that PayPal is the "best" and is the payment processor that people use worldwide. The biggest thing stopping me from using it in the long term is that I've heard of numerous horror stories in which people's accounts were frozen, etc. I have gone to a couple people for help (they know who they are), but am still unsure on the matter.
How exactly will I be able to handle payments of $300-$1000 upfront (ultimately pocketing something like $250 of a difference) after months of only buying through PayPal? This inactivity and then sudden influx of cash will raise suspicions won't they? How do I properly get started in a situation like this?
Also, apparently a Premier account is sufficient for something like this?
Is it also true that after 45 days (so that a dispute cannot be file any more), I can safely withdraw that money?
And, would the use of contracts negate the need of this 45 day period?
I would assume that when I broker things, all parties should be happy because there is evidence that all parties are satisfied regarding labour and prices of the services (through email), so based on this logic, it can be noted that refunds and charge-backs are highly unlikely. The use of contracts would decrease the chances of this even further, I presume?
Scenario 2
This isn't really a scenario on it own, but more like a combination of the first one.
Here's a question that would basically sum up everything that follows:
How do you guys receive payments of $1000, $2000, etc. MONTHLY from offline OR online businesses in other countries, from your online services? (Services can be SEO, lead gen, etc., but does not involve you being able to meet with your client face to face.)
Is this from PayPal as well?
I would assume that contracts regarding this matter be enforced not only because of liability for both parties on the transaction/service(s) being provided, but as well as letting PayPal know that what you are doing is legitimate and will not raise flags for having your account frozen.
******************
I understand that I could use multiple payment processors to prevent myself for "putting all eggs into one basket". Suggestions based from experience and a good alternative to PayPal?
Do you also think a wire transfer (or an equivalent) would be a better alternative when handling the payments of clients for recurring payments?
As you can tell. I'm kind of all over the place, trying to gather my thoughts and focus on the task at hand. I do often over-think things but that's my way of methodically reassuring myself so that I don't get screwed over somewhere down the road.
Again, all insights welcome. Thanks!
- Bryan
Anyways, I've some inquiries. Please note I am currently 17 years of age in Canada, so if you can provide insight on my current situation, it would be greatly appreciated.I've lots of questions here, sorry if they aren't exactly structured in the best way possible. All help of any kind appreciated as well.
It should also be noted that I will operate under a parent's name with their permission, until I turn 18 (in Oct). When I do, I will register an LLC asap.
Scenario 1
I am going to start a brokering business and I will not let anything stop me, however I am unsure of a few kinks here and there. The most notable thing being a proper payment processor to suit my long-term needs.
I understand that PayPal is the "best" and is the payment processor that people use worldwide. The biggest thing stopping me from using it in the long term is that I've heard of numerous horror stories in which people's accounts were frozen, etc. I have gone to a couple people for help (they know who they are), but am still unsure on the matter.
How exactly will I be able to handle payments of $300-$1000 upfront (ultimately pocketing something like $250 of a difference) after months of only buying through PayPal? This inactivity and then sudden influx of cash will raise suspicions won't they? How do I properly get started in a situation like this?
Also, apparently a Premier account is sufficient for something like this?
Is it also true that after 45 days (so that a dispute cannot be file any more), I can safely withdraw that money?
And, would the use of contracts negate the need of this 45 day period?
I would assume that when I broker things, all parties should be happy because there is evidence that all parties are satisfied regarding labour and prices of the services (through email), so based on this logic, it can be noted that refunds and charge-backs are highly unlikely. The use of contracts would decrease the chances of this even further, I presume?
Scenario 2
This isn't really a scenario on it own, but more like a combination of the first one.
Here's a question that would basically sum up everything that follows:
How do you guys receive payments of $1000, $2000, etc. MONTHLY from offline OR online businesses in other countries, from your online services? (Services can be SEO, lead gen, etc., but does not involve you being able to meet with your client face to face.)
Is this from PayPal as well?
I would assume that contracts regarding this matter be enforced not only because of liability for both parties on the transaction/service(s) being provided, but as well as letting PayPal know that what you are doing is legitimate and will not raise flags for having your account frozen.
******************
I understand that I could use multiple payment processors to prevent myself for "putting all eggs into one basket". Suggestions based from experience and a good alternative to PayPal?
Do you also think a wire transfer (or an equivalent) would be a better alternative when handling the payments of clients for recurring payments?
As you can tell. I'm kind of all over the place, trying to gather my thoughts and focus on the task at hand. I do often over-think things but that's my way of methodically reassuring myself so that I don't get screwed over somewhere down the road.
Again, all insights welcome. Thanks!
- Bryan