PayPal positive balance- How do you use it to pay new invoices?

FredC · Aug 25, 2021

Had a couple of customers that had to use PayPal and so I set up an account and now have a positive balance. I seem to take a pretty good hit when I transfer the funds out so I have left it there. A supplier in Singapore just sent me an invoice to pay. Can I use the funds on hand? If so what is the secret as I can see no way to do it? If I can do this, do I avoid the charge for taking the funds out?

dalmatiangirl61 · Aug 25, 2021

I do not recall there being a fee to transfer funds to your bank account, has this changed? Did you get a PP credit/debit card, or just have an account?

I have a PP account and a PP debit card, pay for items online all the time with no fees, only time I see a fee is withdrawls from an ATM.

PeteM · Aug 25, 2021

PayPal offers a number of options of how to pay - from your balance, credit card, or bank. Look around and you should find the options. And as said before, there shouldn't be a fee to transfer your PayPal balance to your bank account. They'll just take their time doing it.

Only exception to these payment options that I'm aware of used to be if you weren't linked to a bank account.

It is a pretty annoying company - always trying to find another way to screw its customers (fees, lousy currency exchange rates, fraud not properly investigated, add-on ways to track you and the like). But most of the alternatives seem equally anxious to skim as much as they can off the top.

dalmatiangirl61 · Aug 25, 2021

When paying a vendor some have a link to paypal, usually in the same spot where you pick choice of visa, mc, venmo etc. Some will be a link directly to PP where you login and submit payment, others its just if you are using a PP credit card.

CITIZEN F16 · Aug 25, 2021

dalmatiangirl61 said:
I do not recall there being a fee to transfer funds to your bank account, has this changed? Did you get a PP credit/debit card, or just have an account?

I have a PP account and a PP debit card, pay for items online all the time with no fees, only time I see a fee is withdrawls from an ATM.

They charge for instant transfer, or checks. For a transfer to a checking account with a couple day wait, it is still free.

FredC · Aug 25, 2021

It has been a while, so I am not sure if it was a one time thing but the ding was a lot more than the 2% that I give customers for paying in 10 days. I will look for options when I pay the invoice this afternoon and let you know if I can find anything.
Thanks.

alphonso · Aug 25, 2021

CITIZEN F16 said:
They charge for instant transfer, or checks. For a transfer to a checking account with a couple day wait, it is still free.

That is the way it has worked for me. Paypal has, on occasion, transferred to my bank without asking me.

EmGo · Aug 26, 2021

PeteM said:
But most of the alternatives seem equally anxious to skim as much as they can off the top.

Zhifubao is actually good. For a long time I resisted because of Paypal experiences but in the end, I wuz wrong. They are okay. Better than okay, in fact.

FredC · Aug 27, 2021

I went ahead and paid the invoice with a credit card as the folder that had my log in info got deleted. That is another story. Anyway I just got back into PayPal and sure enough there was the transfer in 1 to 3 days with no cost. Just chose that option and will wait to see when it shows up.

Can not explain the ding I took way back when, today there was an option for instant transfer for 1.5% which is not that bad.

Thanks to all.

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