posted on September 25, 2001 01:29:37 AM
I've been accepting billpoint and paypal for quite awhile and always uncheck the Echeck option for billpoint because I don't know much about it. Does anyone know if the fees
are higher by accepting an Echeck? What it is
exactly and how it works? Is it any safer/more beneficial over just accepting the credit cards directly?
posted on September 25, 2001 08:05:40 AM
The biggest difference is that you have to wait 3 or 4 days for the echeck to clear. I believe the money comes out of their checking and once it clears, you have the money.
I haven't looked at my rate chart for difference in rates, if any. I believe the echeck fees tend to be a bit lower. You can check your rate chart under your billpoint account to know for sure. I believe paypal fees are the same either way.
I don't think the customer can reverse payment once it clears.
