Talk To Me About Paypal

[nothingwithoutjoy]

A parent just asked if I can accept a payment through paypal. I use paypal personally, to pay for things, but currently take only cash or checks for tuition. Does anyone use paypal and have advice? I see there's a fee. Do you charge more for payments made that way? (I'm certainly not interested in paying to make her life more convenient). It would make the payment for a very weird amount, which makes me inclined to round up if I were to do it. Thoughts?

[MyAngels]

There is a fee for accepting payments through PayPal. I want to say around 3%. You also don't have immediate access to the funds unless you have a PayPal debit card and they pay with an "instant" payment.

I don't use it for daycare, but I use it occasionally to sell online and it takes two business days for the funds to transfer to my account.

[Lil_Diddle]

I wouldn't do it personally because of the fee and the waiting period to have access to funds

[CityGarden]

I paid my daughter's tutor and I was happy she was willing to offer it as I no longer use paper checks. She required I sent the fund via friends or family (no fees) or that I adjusted the mount up whatever the percentage was.... she was okay with when the payment posted to her though.

[DaveA]

I thought about it but decided not to do because of the fees/ delay in getting money. I use it for my shop stuff, but the fees are built into the prices. Using friends and family on a regular basis is very likely to get flagged by paypal. Especially since you will be doing similar amounts on a regular schedule.

[Meeko]

Use Venmo. Free for both parties and you get the funds the next day.

[nothingwithoutjoy]

Thank you!

[heyhun77]

I have one family that uses paypal when they need to pay using a credit card. Yes there are fees but you can write them off as a business expense. since I have just one family doing this I don't charge the family for the fees.