Does anyone use PayPal for payments?
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I do. Very handy because of offices and temporary locations spread across multiple states. I have had no difficulty.Originally posted by AZ-Tax View PostChristopher Mewhort, EA
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Paypal
I have never been able to successfully able to use PayPal for payments to other vendors, always a problem of some sort. And I see my clients that have used PayPal, and seems like the charges are on the "High" side.
Personally, I would refrain from using PayPal - others might have a better experience.
SandyComment
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Interested in answer
I would be interested in the answer to this question too. I do not take credit card payments, even though I have a few clients that wish I did.
If I could use pay pal for them to pay me, I would love that and so would they.
LindaComment
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I believe its a 3% charge to process and 3% to get it out. I did use it but quit as many of my customer's did not like it. I now use Quickbooks Merchant service. The only thing I am going to do different next year is charge the fee I am charged for those that want to use a credit card. I was talking to a client that does printing the other day. He uses paypal for his online side of business and says he adds the paypal fee if they choose to pay that way. I don't believe he has the money transferred into his bank account though. Just keeps the balance at Paypal... which I would not recommend because they can lock the account down at anytime.Comment
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Wrong. Standard charge for virtual terminal is $30/month plus about 3.2% of transactions. "Getting it out" by transferring to a bank account has always been free.Originally posted by geekgirldany View PostChristopher Mewhort, EA
mewhorttax.comComment
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Yeah I wasn't sure on the transfer to the bank. I pay $10 a month and 2.20% discount through QuickBooks.Comment
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Qb
And, if you're a QB ProAdvisor (or even not a certified ProAdvisor but paid the fee to access the education) you can eliminate the monthly fee. Or, maybe, it's pay a smaller annual fee instead of monthly. I like being able to make it as easy as possible for my clients to pay. The few fees to collect from the few clients that pay by credit cards are well worth it to have the money in my bank account quickly.
I have a PayPal account I use to pay a couple of vendors. I guess I should look into it for taking payments. I don't get to the bank often to deposit checks (living out in the woods).Comment
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I use it because there is no minimum and no other charges. I only do taxes for 3 months a year. Cost about $2 or $3 per payment but I only have a few each season.Comment
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Just complete a PayPal transaction
$40 gross and PayPal took $1.46 or 3.65% in fees. I started the transaction this last Monday. On Tues I requested the net amt be credited or transferred to my checking acct. Today Thursday the net amt is pending credit into my checking acct with no additional fees.
Ok, so a client comes and wants to pay me via credit card or debit card. Can my client run this through paypal?Comment
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CC on Paypal
I saw a button on the screen to accept credit card payments while I was in my account paying a vendor via my checking account. So, I didn't try it myself, but it appears to be possible.Comment
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CC w/PayPal....is the client hit up twice w/fees?
So if the client pays with a CC thru PayPal, does the client get hit up for a fee by the CC and do I also get hit up for a fee?Comment
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Paypal
I have used Paypal for several years now to accept credit card and debit card payments. I am very happy with Paypal. I have never had any client tell me they were charged on their credit card any additional fees other than my tax prep fee. I researched this extensively and decided that it was much cheaper to use paypal as it is very expensive to either buy or lease the debit/credit card machine. I found the fees for Paypal to be the cheapest and most convenient. I also have a link on my website where a client can click to make a paypal payment so it makes the transaction very simple. I would highly recommend Paypal.
GTS1101Comment
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