Thanks ladies,
I have the paypal set up now. When I checked into the costs of taking credit cards through my bank, I was not going to accept them. Then I found the Paypal. I found their information on there kinda iffy, and not to clear.

Okay - I went to paypal and checked everything out, but I'm not quite sure if the business account is the one I should sign up with. I was trying to figure how you got 3.5% Tess. Could you please let me know.

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Carla
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On average I'm charged up to 2.9%, I think 2.1% is the lowest rate - when the payments I'm receiving are less than a certain amount it actually costs me more to receive them...3.5% was the "average" I came up with to ensure that I cover those fees. There was a chart on Paypal but I have no idea where to find it now...if I can I'll post the link for you.

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I am also using Paypal for receiving payments. It really offers a wonderful option to raise invoices and get your payments without any trouble.

Moreover, you can very easily provide a link on your webpage to receive payments.

Only issue with Paypal is that Banks in some of the countries don't accept Drafts from Paypal (like in India), however, with my friends in US, I am able to get my money in India through their Banks.

Regards,

Kajal

Quote:

Moreover, you can very easily provide a link on your webpage to receive payments.

OK I was looking for one of these and I only saw donate, and buy now.

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Dawn Riley
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It is DEFINETLY worth it to have a Paypal account. However, be mindful that if your client pays with a credit card, Paypal takes a percentage of the payment for themselves, so you may want to mark up your bill...

can i ask a few questions:

1. is paypal free?
2. can I use paypal even if I am currently using a non-business card (it's a savings account)?

thanks. I do have a invoicing system setup already but having paypal will also provide another payment option!

Julia, the fees and specific accounts required for Paypal vary according to which type of account you set up, but it's free to create an account and request payment, etc.

I'd suggest reading the FAQ's at Paypal regarding your specific type of bank account because I couldn't be sure about that -although I don't think the issue is so much personal account vs. business but savings vs. checking.

I pay an average of 3.5% for each payment I receive via Paypal.
Hope that helps

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thanks for that, this is something I have to look into.

I'm in the minority here; I don't take PayPal as a method of payment. The fees charged are too high. I let clients know they can pay by cheque or by Interac Money Transfer. If the client is set up for online banking - and most are - they can do a transfer to me via email and the charge at my bank for this service is $1.50. The sender of the money pays the fee and it is much less expensive on a large invoice than PayPal, so I don't have to absorb the percentage charged by PayPal nor do I have to add an extra fee to my invoice to cover this. As far as I am concerned, it's a win-win. Besides most business people pay suppliers by cheque and I'm no different than any other supplier.