My First PayPal Payment -- Account is Limited!

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Getting an email from PayPal saying that your account was set to limited after just verifying it is quite daunting.

This mostly happens when you’ve just received your very first payment for an item sold or a service rendered.  However, this shouldn’t cause you any alarm.  First of all, ensure that there hasn’t been any unauthorized activity on your account.  Secondly, make sure that the payment you received is from your customer.

Once you’ve satisfied the above criteria, proceed with shipping the merchandize to your customer as normal.  Follow these simple steps to ensure that PayPal would lift the limit on your account and protect you as a seller as well.

1. Log-in to your PayPal account.
2. Right beside the payment you received, click the Details link.
3. At the end of the page, click Edit Tracking Info.
4. Change the Order Status to Shipped.
5. Write the tracking number provided by the courier you’ve used.
6. On the Shipping Company choose Other.
7. A new box will appear.  Write here the official website of the courier that you’ve used.
8. Click Save

After just a few minutes, PayPal would lift the limit on your account.  However, the payment you received will remain on hold.  You can’t do anything about this but wait for the standard 21days to pass for PayPal to transfer the money to your Available Fund, granted that buyer won’t raise a dispute.

Succeeding payments from any other customer would no longer be placed on your Pending Fund, but would go direct to your Available Fund even if the 21days hasn’t passed yet.

Remember to keep a copy of the waybill even if in electronic form for a minimum of 60days.  This is the time frame when customer can raise a dispute and reverse the payment.  Always update the shipping information of all your subsequent transactions to enjoy the convenience brought by PayPal.

Don't have PayPal yet?  Check this out and get your own.

Ways to Pay for Your eBay Seller Fees

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For eBay sellers who availed the eBay store feature, paying your seller fee dues is a no brainer already.  However, those new into the business will find themselves lost once due date comes in.

Every month eBay sends invoice for your last month’s transaction bills.  If you avail the very basic eBay store which costs 150pesos a month, you will see it billed the next month.  But don’t fret, eBay requires immediate payment only for invoices 300pesos and up.  Meaning you can use the store feature for 2 months before you’re required to pay.

Not paying past due invoices will automatically put your account on hold preventing you from listing new items, including those in automatic listing.

Ways you can pay

Credit Card

• Automatic credit card payments - Each month eBay will charge the credit card that you placed on file.  This is safe and very convenient.  Credit card must bear the Master Card or Visa logo.

• One-time credit card payment - Pay your seller fees manually using credit card.  Usually takes 24 to 48 hours for eBay to confirm acceptance of payment.

• One-time payment thru BDO bank deposit - Print a payment voucher from your eBay account and deposit the payment at BDO.  Great for those without credit cards.  See the detailed instruction on my next post.

eBay Voucher

Sorry guys but PayPal payment of fees is not offered for eBay.ph sellers.  Yes, I’m also disappointed with this.

Payment Options – The Best Way To Pay

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Keeping the shopping convenience motto high, online sellers should be able to offer several payment options for the customer to choose from. Each option should be (1) convenient; (2) safe; and (3) light on the pocket.

So what are the payment options available today and how do they rate on the three categories mentioned?

Paypal is by far the most convenient way to pay. With just the click of your fingertips you can bid/buy and check out your items. It is equipped with all the encrypting technology available online since we're talking about money here. Buyer can also file a dispute with Paypal or reverse the entire payment should the transaction prove to be unsatisfactory; for a period of 30days. But is it light on the pocket? This entirely depends on the buyer-seller agreement. Since Paypal is charging the seller a payment fee¹ for every transaction, not all sellers are keen on offering Paypal. Others would allow Paypal payments if the buyer agrees to shoulder the charges or even half of it. All in all, Paypal is still a must to offer especially if you're selling high value items.

Bank Deposit is not high on the convenience chart, but definitely pose a safer way to pay compared to GCash or SMART Money transfer. If the buyer is within the Metro then bank deposit is no problem. Not so true for people living in the province. Also, a seller should be aware if there are inter-branch charges that the bank is collecting during deposit. BDO is an example that collects 50pesos for deposits on personal accounts from different provinces. This may surprise some buyers, so always give prior notice.

Bank deposit also gives a buyer some sense of security since they know that the person they're transacting with is existing.

GCash or SMART Money Transfer

These mobile payment options are both high in convenience and risk. Many online scams are transacted thru mobile payments. A scammer can just buy any SIM card, subscribe for a GCash or SMART Money² number and be able to transact anonymously. The transaction is non-reversible to be accurate in giving your card number. Globe and SMART also doesn't keep track of all GCash or SMART Money number, so refund is not 100% guarantee.

 

 
Mobile payment method should also be light on the pocket, since depositing to a GCash or SMART Money number is virtually free. Buyers can drop by any BDO branch and fill-up a merchant slip containing the seller's GCash or SMART Money number and pay only the amount to be deposited. This could very well be used as an alternative to BDO bank deposit that might incur inter-branch fee.

LBC, Cebuana, M Lhuillier or Wester Union

These payment options are a definite NO-NO, both for buyers and sellers. They are not convenient, and definitely not light on the pocket. Buyers should think twice, or even thrice when these are the only payment option a seller is offering.

 

Foot Notes:

1 Paypal charges 3.4% + 15pesos per transaction when receiving payments

2  Unclaimed SMART Money number can only transfer up to 1000pesos.  After that, it must be linked to a named SMART Money card before any other transaction can be done.