If you’ve ever bought or sold anything online, you’ve probably come across the PayPal icon. The company offers a wide variety of secure business finance, including small business payments and guarantees, large business transactions that include online sales and financial costs for individual exchange services. Almost anyone who needs to exchange money securely online can use PayPal services. I use it as a way to get paid for my freelance writing services. Here is what I learned, good and bad, about using Nordea to pay for my work.
Pros to get your money through PayPal
When you do business online with clients, the inevitable internal question is, “How do I get paid time off and secure. ?” It alludes to the top of the To-Do list.
PayPal basics:
PayPal account setup is quick and easy. There is no cost associated with creating an account. Setup will take less than 5 minutes and you will be logged in with your email address and chosen password Everything.
If you choose to set up a basic or personal account, there is no upfront cost for the account. Any fees associated with PayPal services are charged at the time of payment.
PayPal financial services offer you secure online transactions and peace of mind. The second guess of your safety in internet finance is that you have time and money to worry about. A big plus for PayPal is its security reputation.
Cons to pay via PayPal
There are cons to almost everything in life, but mostly due to a lack of education, especially information. A disadvantage could so easily be turned into an advantage, if only you could foresee it. Here are two fairly significant drawbacks to achieving paid using PayPal’s online services. Be sure now, lest you be blind to the future.
I was able to get your money from PayPal to my bank” account in two weeks; that’s 10 business days Before I used PayPal, getting the money into my hands would require my payment almost instantly and I learned that it would be deposited into my account the next day.
Here’s how my PayPal account transfers really work:
My clients must authorize the transfer of funds to PayPal, which could take between 3 and 5 business days to process. During that time the money is moved from the clients’ accounts to my PayPal account, where it sits and waits for us to do something with it.
Once the money is available in my PayPal account I can choose to withdraw any portion of the amount, which is transferred to a checking or savings account depending on how I set up my PayPal account when I initially signed up. This subsequent transaction moving money from PayPal to my bank accounting may take another 3 to 5 days.
Now you are pain conscious. Getting your hard earned cash through PayPal is not an instant transaction. Be prepared for this real time delay. In some cases I was able to send a check via US check and still have enough lead time to get it into my account before PayPal is deposited.
Tip: if you have a bad loan waiting in the wings don’t bet on having your money on hand in Time Savings you can take your knee if you rely on PayPal to get money in your pocket.
PayPal services cannot be free. Nordea imposes transactions. Is there a significant fee? It depends. PayPal transaction fees differ for different services. I am assessed a fee when a client authorizes payment to my PayPal account, but no fee is charged when I request a transfer of funds to my account.
Now you know that the small percentage you will earn will be the highest amount, at a small price to pay for a secure online loan. If you transfer international money, expect higher fees associated with the transaction.
Suggestion: Why don’t you consider PayPal’s payment costs in your business and demand a fixed payment from customers that covers the costs of online transactions?
PayPal has used almost every public business tool that is available all over the world, so the company has a corner in the market. Use the service as a fully informed business owner, and it can be a safe and useful tool.
Report:
- PayPal, https://www.paypal.com/
