Paypal for payment of business invoices

[Rich Grise]

On Wed, 20 Apr 2005 13:16:19 -0400, Keith Williams wrote:

richgrise@example.net says...
I once had a part-time job at a bank. When you start work, they open
an account for you, and on payday, your week's pay just appears in
the account. That was pretty handy.

I don't work for a bank, though when I started working my boss took me
to the credit union to open an account. Amazingly, my pay just appears
in there on payday too. It's been doing it regularly for about 31
years. ...even after I transferred to a different site/state. Funny
how that works.

It was in the coin room - did you know that when you spill a $1000.00
bag of dimes, they splash just like water? ;-P

Did you get out the shop-vac?

Nah - my co-workers got on our hands and knees and scooped them all up.
All of the furniture is designed so that no coins can't roll under them
that you can't reach.

When you verify the count, if you're a dime short, you're not allowed
to take one out of your pocket and pop it into the counter - you have
to crawl around on the floor until you find that last dime. )-;

Cheers!
Rich

 

[Keith Williams]

In article <pan.2005.04.20.23.58.33.589065@example.net>,
richgrise@example.net says...

On Wed, 20 Apr 2005 13:16:19 -0400, Keith Williams wrote:
richgrise@example.net says...
I once had a part-time job at a bank. When you start work, they open
an account for you, and on payday, your week's pay just appears in
the account. That was pretty handy.

I don't work for a bank, though when I started working my boss took me
to the credit union to open an account. Amazingly, my pay just appears
in there on payday too. It's been doing it regularly for about 31
years. ...even after I transferred to a different site/state. Funny
how that works.

It was in the coin room - did you know that when you spill a $1000.00
bag of dimes, they splash just like water? ;-P

Did you get out the shop-vac?

Nah - my co-workers got on our hands and knees and scooped them all up.
All of the furniture is designed so that no coins can't roll under them
that you can't reach.

When you verify the count, if you're a dime short, you're not allowed
to take one out of your pocket and pop it into the counter - you have
to crawl around on the floor until you find that last dime. )-;

Banks have lots of silly rules. My wife worked for a bank a few years
ago. One day she came up exactly $2000 short. The next day she
counted down the vault to try to track down the $2K and came out
exactly $2000 over. Twice she was off $2000, that makes a $4000 error
that month. It doesn't matter that a pack of 20s never made it from
the vault into into her drawer and that no money was lost. She was
(major) dinged twice in the performance review.

They then had the brilliant idea that the staff should be on call one
weekend a month to fill the ATM. Right, she's going to go downtown at
2:00AM to fill the ATM, where anyone with a brain knows she's alone
with $100K (perhaps more). She no longer works for a bank.

--
Keith

--
Keith

 

[Carl D. Smith]

On Wed, 20 Apr 2005 15:53:50 GMT, Rich Grise
<richgrise@example.net> wrote:

I haven't yet actually _got_ paid by PayPal, but I've bought a bunch of
stuff off ebay and _paid_ for it by PayPal - I was contemplating trying
to sell something, so I checked to see if I could get paid by paypal,
so I sent myself a bill to a different email and it looked like it would
have gone through fine, if I'd had another bank account to set up another
paypal account with - I was chicken to try to pay myself from the same
paypal account, if that makes any sense.

I also have no idea what PayPal's cut is.

But go to http://www.paypal.com and see what they say about it. It looks
really easy.

Anybody want to send me a couple of bucks by PayPal, just to verify that
it works? ;-)

Paypal does work, I've been using it to receive payments for some
stuff I've been selling on eBay lately.

Paypal's cut depends on what kind of account the person receiving
the money has.

If you have a "personal" account and someone sends you money, it
costs nothing. You will receive every cent. There is a catch
however. The person sending the money to you can not use a
credit card. I guess Paypal doesn't want to loose money to the
transaction fees for a credit card if they are not going to make
any money on the transaction. So that means that they can only
pay you using an electronic transfer from their bank account, an
"eCheck" payment, or pay from the money in a positive account
balance, if they have one.

So when I started selling on eBay I wanted people to be able to
pay with a credit card, since that's what most people do. (I've
received around 40 paypal payments and only 2 were eCheck or
checking account transfer payments). To be able to receive
credit card payments you have to upgrade your account to a
"Premier" account.

After upgrading to a "Premier" account, their fee is 30 cents per
transfer plus 2.9% of the amount transferred (up to $3000, the
percentage goes down above that).

So, say someone sends $100 by Paypal. I get only $96.80, if I
can do the math right.

The catch to all this is that once you have upgraded your account
to a Premier account, you are charged this fee for ALL transfers.
You can no longer receive money from eCheck, checking account
transfers, or Paypal funds transfers for free.

To get your money out of the Paypal account, you set up a link to
a bank account, and just log in and hit the withdraw link, pick
the account you want it to go to, enter the amount, and hit
transfer. A few days later it shows up in the account you
transferred to.