what do you guys think of this?

HostEONS

@ArrowBoi said:

@HostEONS said:

@ArrowBoi said:
Okay so, this is how it is.
When I receive money on my paypal, it automatically gets deposited to my bank every 4 am.
can't do anything to stop this process or extend the duration as thats how indian paypal is.

So I actually have plans to start a hosting company and I'm worried about refunds, So I was thinking.

So I thought I'll even use stripe and the best part of stripe is it stays in my balance for 1-2 weeks before depositing to bank which lets me provide longer refund durations.

How about,
I just say no refunds for paypal but 2-3 days refund duration for stripe?

I think this would be better for my case as if someone wants a refund on a paypal transaction the best they will get is a store credit as I won't be able to provide them a refund but could provide refund only on stripe so they have an option to choose stripe gateway while paying if they want to have the comfortability of requesting a refund if anything goes wrong.

What do you think?

You can't really rely on refunds for PayPal balance if you don't expect regular sales because suppose if you get a $3 sales, now after PayPal fees deduction you get about $2.5 as balance, but now if you are not getting regular sales you cannot issue a refund because when you refund PayPal does not refunds their fees, hence PayPal will even not allow you to issue refund because you don't have $3 balance, so you either need to wait for another sales then you can issue refund or if your client files a dispute and if PayPal decides in favour of your client you will have negative balance but your client will get his refund, then you get option to clear this negative balance in two ways, either you send a wire to PayPal USA or you make payment to some merchant during that time PayPal will charge your card extra and clear the negative balance.

But again if you get multiple disputes in a short period of time you will end up having your PayPal account freezed

It's really a pain to use PayPal in India as PayPal is not ready to apply for the right license hence RBI/Indian Government does not allows them to keep balance in paypal account, they have to withdraw in your bank account

Also Paypal does not offer any way to add funds to PayPal account from Indian card or bank account

So if you think you will have to refund on regular basis you need to make sure you get regular sales as you can only issue a refund from the balance that you have in your account for less than 24 hours else it will get messy

So unless PayPal gets the right License needed this won't work for new business especially if you have to issue refunds.

I've done paypal refunds in the past,
as per your example when the 0.50 is taken as fee and when we try to refund someone, there's a slot which shows how much paypal will be refunding with us so the buyer gets the full amount.

If you do not agree with that we can do a test charge of 1$ where I receive it and I'll attempt to refund you back the 1$ with no charge as paypal will also be refunding the fee that it took.
I remember it very well as I once had a user who paid me 3.5$ and he wanted a refund and I provided it to him and it showed me on the screen that paypal would be returning the fee that it took on the transaction.

How long ago was that ?

ArrowBoi

@HostEONS said:

@ArrowBoi said:

@HostEONS said:

@ArrowBoi said:
Okay so, this is how it is.
When I receive money on my paypal, it automatically gets deposited to my bank every 4 am.
can't do anything to stop this process or extend the duration as thats how indian paypal is.

So I actually have plans to start a hosting company and I'm worried about refunds, So I was thinking.

So I thought I'll even use stripe and the best part of stripe is it stays in my balance for 1-2 weeks before depositing to bank which lets me provide longer refund durations.

How about,
I just say no refunds for paypal but 2-3 days refund duration for stripe?

I think this would be better for my case as if someone wants a refund on a paypal transaction the best they will get is a store credit as I won't be able to provide them a refund but could provide refund only on stripe so they have an option to choose stripe gateway while paying if they want to have the comfortability of requesting a refund if anything goes wrong.

What do you think?

You can't really rely on refunds for PayPal balance if you don't expect regular sales because suppose if you get a $3 sales, now after PayPal fees deduction you get about $2.5 as balance, but now if you are not getting regular sales you cannot issue a refund because when you refund PayPal does not refunds their fees, hence PayPal will even not allow you to issue refund because you don't have $3 balance, so you either need to wait for another sales then you can issue refund or if your client files a dispute and if PayPal decides in favour of your client you will have negative balance but your client will get his refund, then you get option to clear this negative balance in two ways, either you send a wire to PayPal USA or you make payment to some merchant during that time PayPal will charge your card extra and clear the negative balance.

But again if you get multiple disputes in a short period of time you will end up having your PayPal account freezed

It's really a pain to use PayPal in India as PayPal is not ready to apply for the right license hence RBI/Indian Government does not allows them to keep balance in paypal account, they have to withdraw in your bank account

Also Paypal does not offer any way to add funds to PayPal account from Indian card or bank account

So if you think you will have to refund on regular basis you need to make sure you get regular sales as you can only issue a refund from the balance that you have in your account for less than 24 hours else it will get messy

So unless PayPal gets the right License needed this won't work for new business especially if you have to issue refunds.

I've done paypal refunds in the past,
as per your example when the 0.50 is taken as fee and when we try to refund someone, there's a slot which shows how much paypal will be refunding with us so the buyer gets the full amount.

If you do not agree with that we can do a test charge of 1$ where I receive it and I'll attempt to refund you back the 1$ with no charge as paypal will also be refunding the fee that it took.
I remember it very well as I once had a user who paid me 3.5$ and he wanted a refund and I provided it to him and it showed me on the screen that paypal would be returning the fee that it took on the transaction.

How long ago was that ?

I think it was like at march or april