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How many people use PayPal for business?

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  • How many people use PayPal for business?

    I've been using PayPal on and off for years when it comes to sending money back and fourth between my family and friends but I've recently used it for a few business transactions with clients. Of course for those I didn't use the F&F setting! My friend/co-worker told me that I should either do cash in hand or get a proper setup for transactions as PayPal isn't the way to do it? But isn't there a whole section for using it in business? He was also talking about it once being owned by eBay and how they are dodgy. I don't know if he is just on a tangent or not but i feel in the dark about my financial knowledge now.

  • #2
    I'm retired, and though I"ve never been in the plumbing business, I used to do lot of business as a freelance illustrator/writer. Personally speaking, I wouldn't use Paypal for business purposes, although I do use it today for F&F and for small purchases I make that I'm not sure of (like tool parts, supplies from companies that I have no experience with).

    To me, PayPal just isn't that professional, as I find them hard to contact and I just like to talk to someone if need be. Set up a personal or business account with a local bank. I've done that and as long as I do at least one transaction a month, there are no charges. Check your bank for transaction rates/charges, etc. With a local bank, you can establish yourself and that way if you want to open an account with a local supplier, having a local bank as reference is a big plus from my experience.

    CWS

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    • #3
      Had no issues with using PayPal for small Ebay purchases or F&F payments or transfers of funds but I have no experience in business related items. My poor experience with PayPal MasterCard may or may not be helpful to your question but the ability to contact a live person for assistance or using online chat leaves much to be desired. Someone was able to access my account, change the address and receive a new credit card to make 6-7 transactions in another state. Paypal MC was slow to react, respond and scammer transactions were not cleared from the account for a few months. Multiple phone calls were needed to remove these transactions. More recently scammers are using a fictitious PayPal account to "test" bank accounts with zero deposit recorded as a PayPal PRENOTE.

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      • #4
        I have used Paypal for business transactions for many years (as a buyer and seller) and found it to be very effective. Much easier to setup than a merchant account at a bank. In recent years, Venmo has become increasingly popular and is preferred by many buyers who have the app on their phone.

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        • #5
          I've been using PP for my online purchases since they started, and more recently for selling items I make through my website. Knock on wood but so far not one glitch ever since 2003.

          For selling it has been extremely easy. I don't have a large number of items for sale but I was able to create purchase buttons to put on my site to place items in your shopping cart then check out and make your purchase.

          You can see it here: http://cordlessworkshop.net/ordering.shtml

          When someone buys I get an email or push notification on my phone. All the information I need to send them their items is right there. Using ShipStation (which is connected to PayPal) I can pay for shipping and print a 4x6 shipping label from the Post Office.

          I have never had a problem when making a return of something I purchased using PP. The money has always come back to my PP account or to my CC depending on how the item was paid for. The fees for selling are much more reasonable than eBay. You can't post a listing for your items but if you have a website it works great. At least it has for me. Plus you can download a .CSV file with all your transactions by the month or the whole year whenever you want.

          How it might work for someone doing face to face business I don't know. None of my transactions go that way.
          Last edited by Bob D.; 06-27-2022, 03:15 PM.
          "It's a table saw, do you know where your fingers are?" ? Bob D. 2006
          "?ǝɹɐ sɹǝƃuıɟ ɹnoʎ ǝɹǝɥʍ ʍouʞ noʎ op `ʍɐs ǝlqɐʇ ɐ s,ʇı"

          https://www.youtube.com/user/PowerToolInstitute
          http://www.cordlessworkshop.net
          https://www.youtube.com/channel/UC1p...qcZKHyrqKhikFA
          ----

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          • #6
            I use Venmo which is owned by Paypal for the last few years. I prefer Venmo over Paypal and Zelle over paypal. I still take checks, minimal cash and of course good cooking.

            I like Venmo so much that in the last few months I've invested heavily into Paypal. Unfortunately the once $310 a share price is now sitting at $75.94. of course I didn't buy at $310 nor the 52 week low of $70.47. lets just say my retirement fund is going to be short this year. But i feel that over the next couple years, Paypal will rebound as more and more people use it for payments.

            Rick.
            phoebe it is

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            • #7
              I use Square. Any charges I write off. Customers like using their credit cards.

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              • #8
                "Customers like using their credit cards."

                You can use a CC with PayPal.
                "It's a table saw, do you know where your fingers are?" ? Bob D. 2006
                "?ǝɹɐ sɹǝƃuıɟ ɹnoʎ ǝɹǝɥʍ ʍouʞ noʎ op `ʍɐs ǝlqɐʇ ɐ s,ʇı"

                https://www.youtube.com/user/PowerToolInstitute
                http://www.cordlessworkshop.net
                https://www.youtube.com/channel/UC1p...qcZKHyrqKhikFA
                ----

                Comment


                • fixitright
                  fixitright commented
                  Editing a comment
                  What do they have for a card reader? I use my phone and a Square reader. Works well.
                  Then again Square works well for me, no need to change.

                • PLUMBER RICK
                  PLUMBER RICK commented
                  Editing a comment
                  Your credit card is linked to your Venmo / PayPal account. You don’t need a reader. The person just chooses what account, form of payment they want to use to pay you. Bank account, credit card.

                  Rick

              • #9
                I haven't had any issues with paypal, but I have heard some bad stories about them in the past. I currently use Stripe for my payment gateway and I like it a lot better than Paypal. Paypal tends to freeze payments too often.
                https://toolcurve.com

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                • #10
                  Originally posted by PLUMBER RICK View Post
                  I use Venmo which is owned by Paypal for the last few years. I prefer Venmo over Paypal and Zelle over paypal. I still take checks, minimal cash and of course good cooking.

                  I like Venmo so much that in the last few months I've invested heavily into Paypal. Unfortunately the once $310 a share price is now sitting at $75.94. of course I didn't buy at $310 nor the 52 week low of $70.47. lets just say my retirement fund is going to be short this year. But i feel that over the next couple years, Paypal will rebound as more and more people use it for payments.

                  Rick.
                  Your going to retire? And do what? LOL

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                  • #11
                    Originally posted by fixitright View Post

                    Your going to retire? And do what? LOL
                    I play softball 3 times a week and volunteer at the police dept.

                    still working 4.5 days a week.

                    47 years of plumbing, still at it.

                    Rick.

                    phoebe it is

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