PayPal Community

ReverendVW · ‎Jul-15-2011

Someone help sell me on virtual terminal. What does it give me that other similar products does. They want a 30% rolling reserve, that evidently is applied to everything on your account, including paypal to paypal transactions. the $70+ card reader only enters the card info, but you still have to fill in all the rest, so really thereader is useless. I'm on the fence, the rates are similar to bank of america. the monthly fee is the same. the only difference is, bank of america does not hold 30% per transaction, and charges me a monthly extra fee for the card machine. Please help, I really want to find a reason not to use BOA.

tech2002 · ‎Apr-28-2011

everytime I have posted question regards rolling reserves and Virtual Terminal PayPal customer service is very quiet , don't want to answer a simple questions I have. I call them and they have no answers, so I am hoping that someone from PayPal answers this and fix the issues with this problem It seems customers like myself are mislead about the Virtual Terminal and the consequences once you have this feature added to your account. I have looked and typed and all I get are perfect answers like the rolling or pending account never existed, but once you add VT and money are flowing into your account all the transactions are charged with 20%-30% on hold for 90 days, it doesn't matter if your grandma send you money of someone owns you payment everything is charged with that percentage and it is hold for 90 days, in my opinion this is unfare system and one of the PayPal customer service told me that as well but they can't do nothing about because supervisors and management of PayPal told them to not answer questions regards the Virtual Terminal hidden charges I have sent number of emails for the past year and requests to PayPal to revised this system and create seperate account for Virtual Terminal so this account has only pending charges for 90 days nothing else , so only people who pay over the phone with their credit card have 20% pending charge for 90 days as see this as fare system that protect us sellers and buyers.

tech2002 · ‎Apr-03-2011

it is wrong, US customers can register for I can't recall a trust fund that PayPal will pay you a procentage on the hold that kept for 90 days, you have to be a US citizen, which I think it is wrong too, so if you are not US citizen with US address you can't apply so anyone outside is **bleep**ed , but creating VTT account will be a wise decision, and I am suprised noone from PayPal wants to answer this,

tech2002 · ‎Jan-31-2011

This is the same issue I have I hate rolling reserve does nothing to help me at all I am frustated with attitude that PayPal has regards the rolling reserve I have small business that my budget is very small and the best this PayPal puts every transaction 30% off to rolling reserve so even if people send me money they owe me they take that 30% off, it is ridiculous I didn't heard any merchants that have such thing . I wish Paypal stand up and remove the rolling reserve.

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