how do owners who accept pay pal for there credit cards get around the $2000 max? pay pal is the only service i found that charges no min monthly fee. if anyone knows of a firm that charges no monthly fee and allows over $2000 limits i'd appreciate a name.
How do rental owners get around $2000 pay pal max for credit cards?
- Thread starter gmarc
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Are you sure that the consumer on the other end doesn't have the limit? We've never had this problem, but we've also had our business Paypal accounts for over 5 years and never had a charge back or dispute. You may want to contact PayPal to see if you can find some way to lift this.
I would also assume that people have the renter pay multiple times if they are experiencing the same problem.
P.S. In a dispute situation it is to your advantage to have multiple payments over time.
I would also assume that people have the renter pay multiple times if they are experiencing the same problem.
P.S. In a dispute situation it is to your advantage to have multiple payments over time.
yep, it may be a card limit per day, if being used outside of cardholder's zip code, but if the cardholder will contact the card company, he or she may be able to remove limitations by telling the card company that they are going on vacation and need to be able to use the card for out of the norm purchases.
Or, if you have an AmEx Black Card, that should work.
Or, if you have an AmEx Black Card, that should work.
Our business cards have a $2000 per card daily limit, but that's spending not receiving. I think you should contact PayPal. How long have you had your account? It may be, and I'm not at all implying you are, a fraud thing. They've lost quite a bit of money off of scammers who sold hundreds of thousands in merchandise that didn't exist.
TooFarTampa
SoWal Insider
I know exactly what you are talking about. It did not take long for this issue to crop up a couple of years ago when I began collecting rents myself.
For people who purchase items (think ebay) or use PayPal to pay for anything, there is a lifetime limit of $2,000. This limit is lifted, however, once the PayPal user becomes "verified," which if I recall correctly involves giving PayPal a valid bank account number so it can more easily access funds when you purchase something.
Some people don't find the verification process to be a big deal. (If you accept funds through PayPal, for example, you have to become verified.) But others absolutely don't like the idea of PayPal having a record of their their account information just so they can rent a house for a week. And I don't blame them.
After an early encounter with someone who took offense at this idea, I realized that I needed to be very proactive with this information. So if it looks like a potential renter wants to book with me during a peak week (over $2K), I tell them about the PayPal verification requirements and tell them I also accept personal checks.
That way you will leave them feeling like you are working with them in the process and being helpful.
One suggestion I always make to people if they don't want to be verified with PayPal is that they put the deposit down with a credit card and pay the balance with a personal check. A lot of people have done this when they rent from me.
If two families are renting our home, I have offered to send a PayPal invoice to one family for the deposit and the final invoice to the second family, so they don't reach the limit. A few have done this.
Some people simply don't mind becoming verified with PayPal.
I have found that PayPal is simply the easiest way to accept credit cards, despite the occasional hassles. So you just have to work with the system. As an owner collecting funds directly, you have to do what you can to work with people so they don't throw their hands up and just go through an agency (which will, in all likelihood, charge a processing fee to offset those pesky credit cards fees).
Hope this helps.
i think theres some confusion here.i've been with pay pal for 4 years and am verified. the $2000 lifetime limit tampa speaks of is for unverified accounts. I'VE CALLED PAYPAL. THEY TOLD ME WHICH I HAD ALREADY BASICALLY KNEW IS THAT NO ONE PERSON CAN PAY MORE THAN $2000 TO ONE PERSON FOR A SERVICE OR ITEM. THE REASON IS PAYPAL WON'T INSURE MORE THAN $2000 FOR A SERVICE OR ITEM. yes a way around that is to accept a check and paypal to get over the $2000.tampa can you accept paypal for the damge deposit and then credit it back and incur no fee with paypal?thats much easier than mailing the checks back
I'm sure you could Ray, just don't let PayPal know what you're up to, they don't like people getting around the fee. Since I now understand that are limited on the non-verified members I see where the problem is.
We also use a service called 2checkout.com. This might not work for you, but they charge 3% + $50.00 per month. Works great for us, but it might be a little steep. They also process online checks if that's any help.
We also use a service called 2checkout.com. This might not work for you, but they charge 3% + $50.00 per month. Works great for us, but it might be a little steep. They also process online checks if that's any help.
costco's the cheapest i've seen. for a $100 executive member theres no monthly fees nor any fees period if you charge a small $20 each month. if not the max fee is $20 a month. the rate for virtual is 1.96% plus 30 cents per transaction. i think i'll just use them