11 {{ upvoteCount | shortNum }}
11 {{ upvoteCount | shortNum }}

Pay pal question

by bm2
10 replies
  • ECOMMERCE
    • |
Hello,

In order to put paypal on your dropshipping store as a payment processor, do you have to own a company? Or you can do it without?

Also how much time does paypal hold your money? When someone makes a purchase how soon can you get the money out and go and buy the product from wherever your sourcing it
#pal #pay #question
Avatar of Unregistered
  • Profile picture of the author dave_hermansen
    You definitely should set up a business account with PayPal. Without it, customers will be getting receipts from you, personally, which doesn't breed much confidence. Can you set it up without that? Sure; it just doesn't look very good. They go to mywonderfulwidgets.com, add something to their cart, hit the checkout button and are redirected to PayPal to pay Joe Smith.

    The amount of time PayPal holds your money depends on your country. In the USA, we usually get ours the very next business day as long as we batch our orders by 7:00 PM Eastern time.
    Signature
    BizSellers.com - The #1 place to buy & sell websites!
    We help sellers get the MAXIMUM amount for their websites and all buyers know that these sites are 100% vetted.
    {{ DiscussionBoard.errors[11193139].message }}
    • Profile picture of the author bm2
      Yes but can i set up a business acount without having a company?And how long does paypal hold your money if everything goes ok. Also when they limit you in case of a chargeback do they limit the whole account or do they just l;imit the ammount in question (say a person bought for 15$ and they block only 15$)
      {{ DiscussionBoard.errors[11193468].message }}
  • Profile picture of the author Gary Handy
    IN order to put paypal on your dropshipping store as a payment processor you will most likely need to go to your local bank to set up a business account. You might need to bring a business plan and proof that you own a business such as a corporation, partnership or a sole proprietorship, government identification or other documents the bank may require.

    As for the other question:

    The funds will be held for 21 days, however, you can get them released faster by following the below;
    • The buyer leaves you positive feedback
    • You provide a tracking number which shows that the item has been delivered over 3 days ago

    Once this information has been received the funds can be release within 24 hours.

    All in all, the buyer must receive the item before the seller receives payment.
    Signature
    Gary's FREE Gift - Sells for $17 - %100 FREE Access Today!
    {{ DiscussionBoard.errors[11193191].message }}
    • Profile picture of the author dave_hermansen
      Originally Posted by handyteamworker View Post

      IN order to put paypal on your dropshipping store as a payment processor you will most likely need to go to your local bank to set up a business account. You might need to bring a business plan and proof that you own a business such as a corporation, partnership or a sole proprietorship, government identification or other documents the bank may require.

      As for the other question:

      The funds will be held for 21 days, however, you can get them released faster by following the below;
      • The buyer leaves you positive feedback
      • You provide a tracking number which shows that the item has been delivered over 3 days ago

      Once this information has been received the funds can be release within 24 hours.

      All in all, the buyer must receive the item before the seller receives payment.
      Almost none of this is correct! Maybe it is for someone selling from a third world country, but in the U.S., at least, you can use a personal bank account - plenty of our coaching students use their regular checking account. Buyer feedback has nothing at all to do with PayPal payment processing. A tracking number has nothing at all to do with PayPal processing, unless there is a chargeback. And, the buyer DEFINITELY does not need to receive an item before payment is released. There is nothing at all that I can find in the PayPal agreement that talks about them holding your money for 21 days. In fact, they say that the money is immediately available in your PayPal balance.

      It is unfathomable to me that anyone would think any of these things were part of the PayPal payments process.
      Signature
      BizSellers.com - The #1 place to buy & sell websites!
      We help sellers get the MAXIMUM amount for their websites and all buyers know that these sites are 100% vetted.
      {{ DiscussionBoard.errors[11193245].message }}
      • Profile picture of the author Daniel+
        I have the same situation with 21 days
        {{ DiscussionBoard.errors[11194572].message }}
  • Profile picture of the author Kay King
    The 21 day is a period I've seen when selling on ebay using paypal. Haven't seen it applied for other businesses but don't know that it doesn't.

    The OP wants to wait until the payment is released to him before he orders the product to be delivered. How long will buyers wait for shipment?

    The OP is in Romania - and has answers from the US and from Trinidad....but Paypal doesn't operate the same way in all countries. This is why you need to get the facts from the source - in this case, Paypal.
    Signature
    Saving one dog will not change the world - but the world changes forever for that one dog
    ***
    2024 Patriot's Award for Service to Veterans
    {{ DiscussionBoard.errors[11193270].message }}
  • Profile picture of the author yukon
    Banned
    I doubt it matters because odds are it will eventually catch up with you and Paypal or your host will shut you down from complaints. The more sales you make, the more confusing the scheme gets.

    Good luck with all that.
    {{ DiscussionBoard.errors[11193273].message }}
  • Profile picture of the author agmccall
    Originally Posted by bm2 View Post

    Hello,

    IN order to put paypal on your dropshipping store as a payment processor. Do you have to own a company? Or you can do it without?
    If you have a dropshipping store then you own a company so I do not understand your question.

    al
    Signature

    "Opportunity is missed by most people because it is dressed in overalls and looks like work." Thomas Edison

    {{ DiscussionBoard.errors[11193515].message }}
  • Profile picture of the author boblyle
    Be careful when using these large pay processors for your drop shipping business. Stripe has just listed Drop Shipping as one of it's NoGo's. They no longer accept drop shipping companies as part of their processing. The bigger processors are soon to follow suit since this business model is becoming 'Risky'. Keep an eye on the trend.
    Signature
    Drop shipping is a Dying Model
    This is the New Wave of E-Commerce
    {{ DiscussionBoard.errors[11193534].message }}
    • Profile picture of the author dave_hermansen
      Originally Posted by boblyle View Post

      Be careful when using these large pay processors for your drop shipping business. Stripe has just listed Drop Shipping as one of it's NoGo's. They no longer accept drop shipping companies as part of their processing. The bigger processors are soon to follow suit since this business model is becoming 'Risky'. Keep an eye on the trend.
      Every payment processor has that as part of their T.O.S. but they do not enforce it. If they did, every major website you can think of would not be able to sell online because they ALL dropship - Amazon, Walmart, Jet.com, Home Depot, Lowes, Wayfair, Hayneedle, etc.

      What they are trying to prevent is the dropship schemes (i.e. someone orders from your site and you place the order with Amazon to "dropship" to the customer). That is not true dropshipping. There are entire industries where every single manufacturer dropships. Those entire industries would be put out of business if payment processors didn't allow dropshipping.
      Signature
      BizSellers.com - The #1 place to buy & sell websites!
      We help sellers get the MAXIMUM amount for their websites and all buyers know that these sites are 100% vetted.
      {{ DiscussionBoard.errors[11193881].message }}
Avatar of Unregistered

Trending Topics