Hi Lori,

I've heard plenty of PayPal horror stories, too, but I've never had a single problem with it myself. I do get the occasional check, but I much prefer PayPal. It's immediate, easy, and lets me avoid having to take on the expense of accepting credit cards myself. I've heard complaints about the fees, too, but in my estimation they are far more than reasonable for the benefit you get in return.

You have several options for what type of system to use with PayPal. You can have the most basic set-up, using nothing but a bank account number and some contact info, or go whole-hog with online invoicing, automated payments, subscription plans, etc. Plenty of flexibility.

No, customers don't have to already have a PayPal account to use it. They just pick the option for "Send Money," fill in their credit card or bank info, enter your email address and amount, and click. It's done. (There is a 3-4 day approval delay for NEW customers who've never made a PayPal payment before, or returning customers who are using a new credit card for the first time, but after that, payments are instant.) You can also have it set up where your actual invoices bear a PayPal link and the customer only has to click without even filling in your address and amount, but that's an option, not a requirement. I just send my invoice and give my PayPal email address in the message. Simple enough.

For a "real" bank, I highly recommend BB&T if you have one in your area. Their free business checking account has everything a small solo business needs and was a breeze to set up and use. Every time I've had a question, the staff has been fantastic. Online accessibility is available if you want it, no associated savings account is required (though you can have one if you want), and it comes with a debit card, so you can avoid going through the hassle and fees of a business credit card also. And it truly is FREE--no standard fees whatsoever unless penalties are required (overdrafts, etc.).

Have you gotten an EIN? If not, you may want to have your business account with a whole separate BANK from your personal one, not just a separate account, because some banks including BB&T use your EIN or social security number as your controlling identifier. I wanted to enable online banking for my business account only (which I intentionally keep "poor" because I'm convinced there's a thieving hacker around every corner). It is set up under my EIN. Had I set it up under my SSN, all of our personal accounts that bear my SSN would have become accessible online also. Not a big deal at all if you're not using online services, but something you might want to keep in mind if you do.

And by the way, I don't think a single one of your questions is stupid. Better to ask beforehand than to find out the hard way--and that's SMART.

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AnnaLisa Michalski, Sunny Words Writing Services

AnnaLisa, thanks for all the great information! I didn't realize BB&T had free business checking. I've been banking with First Market (do you have those in Portsmouth?). They're merging with Union Bank and are supposed to be keeping the free small business checking, but I think I'll check into what BB&T has as well, just in case!

I like being able to put the PayPal link on invoices, but I'd rather keep doing my own invoices rather than invoice through PP, which it looks like you have to do to get the PP link on the invoice (or in the email). And I didn't realize this before, but if you just tell your client your e-mail--like you do--they can still pay you without having a PP account, right? And if you e-mail the invoice, you could just put the link https://cms.paypal.com/us/cgi-bin/?c..._us/send_money in your e-mail with the attached invoice, right? (My main reason for looking into something like PP is in order to accept credit cards.)

(Question...how do you insert a link into a forum post but just have a word like "here" that you click on, that that's the link rather than having the whole actual link posted like above?)

Thanks!!

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Pam Deyerle - Transcriptionist in the Richmond, Virginia area
The Perfect Word Transcription Services

Woo! Really good info here! I looked into BT&T - sounds great, so naturally there aren't any in this area. I'm outside of Philly, and the nearest branches seem to be in MD. Hate to drive 90 miles to deal with a bank! Was hoping there was a branch maybe in DE - that would have worked well. But at least I know what to be looking for in a bank.

Yes, I do have an EIN becasue I did read in other forums about otherwise using your SSN for an identifier - nope, not for me thanks! Online banking and a debit card will be a new experience for me - never used either. Exciting times we live in!! You and me both worrying about some thieving hacker drainging a bank acccount. As if holding onto money isn't already hard enough without their help.

Okey-dokey - thanks loads for all the good info. I did have it in mind to use a different bank for my business account, just so I will be sure NOT to mix up the funds and accounts. I think that will be my Monday project - start hitting the local banks and asking questions! Preferable one that hasn't been bought and sold ten times in the last three years - but I might be dreaming when it coems to that. I've had my personal account with the same bank for decades and decades - and in the last 10 years they've changed names 4 times. Makes ya wonder just WHERE your money really is, doesn't it?

Thanks kindly for all the great info, AnnaLisa!

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Lori http://www.solterravs.com

You could look for a family owned or "smaller" state chartered bank with a good stability. Make sure to inquire about SMALL business banking to stay away from fees. It might make sense to work solely out of a small checking account or savings account at first. You can get an ATM card with a saving account. Just make sure to keep any receipts for tax time!

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Kristina ~Success Office Solutions
Our Solutions Equal Your Success!

hi
I know paypal may have a history but what about intuit. they now have merchant services for less than $15.00 a month. check them out before you commit. they also have a lot of other services, some even for free.

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Neasie Jackson

I use PayPal, but I do not invoice through them. I just use them so I can accept payments to make it easier for both the client and myself.

Quote:

(Question...how do you insert a link into a forum post but just have a word like "here" that you click on, that that's the link rather than having the whole actual link posted like above?)

Login to PayPal go to "Merchant Services", click on "My Saved Buttons", on the right side see "Related Links", click on "Create New Button" fill in form then click on "Customize Appearance". It should walk you through the rest of the steps easily.

Hope that helps.

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Rhonda Holscher, Owner
Rhonda's Virtual Office - Hire a Virtual Assistant