If you use Paypal to charge your guests’ credit cards, you may have noticed some new reserves that Paypal is introducing to account holders. Reserves amount to increased costs to you, the merchant, and result in delays in receiving your money. Instant World Booking offers alternative and better methods for collecting from your guests that will not result in delays or higher costs in receiving your money.
Here is how Paypal recently described their reserves, which may amount to 20% of your credit card proceeds:
“Why was a reserve placed on my account? Sometimes we need to temporarily set aside some money in your account to make sure that you can cover any potential reversals or chargebacks.
What are the different types of reserves? Rolling reserve: A certain percentage of the money you receive each day is set aside and then released after a certain number of days.
Minimum reserve: The minimum that you need to keep in your account at all times. We’ll hold a percentage of each day’s payments until you reach your minimum reserve.”
Instant World Booking offers the industry’s low-cost solution for booking engines on a bed and breakfast or hotel website. Compare with BedandBreakfast com and others. There are no complicated reserves to contend with. Instant World Booking also now offers IWB Payments, a convenient way to charge your guests by credit card for reservations and other services you offer. For more information, check out IWB Payments.