From seller's view, when will I receive the payment?
And how to I transfer it to my Canadian bank account?
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PayPal vs. BidPay, what are the pros and cons?
I'm trying to become a eBay seller, and currently using PayPal.
Some clients are suggesting me adding BidPay as another payment option. I'm looking for a short comparision between PayPal and BidPay.
By the way, my location is in Canada.
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Answers
I thought that with BidPay, you wouldn't even need a seller's account? They just send you the money order?
But if the seller does sign up, you gain the benefit of tracking the status of your MO.
Since signing up is free, and you're already using PayPal, I suppose offering both options to your buyers wouldn't be a bad idea, a number of sellers already offer these 2 (or more) of these payment options.
Here is the process of getting paid by Bidpay
http://www.bidpay.com/HowI
There is no buyer protection from Bidpay. Since buyer uses a credit card, he/she can dispute the charge.
I have sold over 1000 items on Ebay and bought many more. Some people have paid me by Bidpay using money orders. I usually get the money order in a week or longer. Paypal seems the best for me. There are no fees if I have a personal Paypal account. I like the way it is set up and the way to view all my transactions. If you are going to use or accept credit cards, then maybe Bidpay is better for you, because of the Paypal fees, which can be a high % if the transaction is small.
>> why would someone prefer bidpay over paypal
Internatinal users who do not want to use PayPal will use BidPay. PayPal fees for international users are higher. Some users hate PayPal, so any service would be better.
For you, Bidpay charges you no fees. PayPal business account charges you a fee. I prefer Bidpay for this reason.
But there will be a third way! Google said they are going to enter the bid and pay market later this year. :)
Nickg5, you use a PayPal personal account for 1000 transactions? Buyer cannot pay you with credit card. They have to draw from their back account.
>> As a seller in Canada, how do I receive the payment? Can BidPay do direct bank deposit to my account?
The link I posted above shows how you receive payment, Western Union money order.
>> Can BidPay send me instant payment as PayPal do?
Not in Canada. If your reside in US, BidPay can send you instant payment.
>> What are some other good payment gateways besides these two for eBay auctions?
You can look at Moneybookers.
http://www.moneybookers.co
>> Even if I'm located in Canada, but if I have a bank account in US, can I receive instant payment?
I am not sure about this. I think you can receive instant transfer. You will have to ask BidPay to be sure.
>> Also, how is moneybookers comparing to the other two?
I find Moneybookers a difficult process to sign up a credit card. But requiring all the FAX information, they are ensuring good credit transactions. Some users like them. Only a few sellers uses Moneybookers because few customers choose that option.
If you ever end up using PayPal in the future I would recommend this site:
http://www.ppcalc.com
It tells you how much to charge in advance so that [i]after[/i] paypal fees are removed you actually end up with the amount you want (in other words, it has your buyer pay your PayPal fees for you). For example, if you actually wanted to receive receive $40 (CAD), according to this site you would have to charge your buyer $41.76 (CAD). If we double check that amount ($41.76 - (2.9% x $41.76 + 0.55) = $40), it works! Supports all the different PayPal fee rates too, even works internationally.
Pretty nifty, eh? :)
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by: war1Posted on 2005-06-26 at 22:22:13ID: 14306098
Hi jay28lee,
I think you should add Bidpay to your option of payment. Bidpay is ideal for international users who does not want to pay by credit card. International users pay more fees with PayPal.
Bidpay will cost no fees, except if are UK seller.
Bidpay can only be used for eBay transactions, where PayPal can be used for other transactions.
Bidpay will be around a long time. It is owned by Western Union.
Cheers!