When I was billing my clients this month, I noticed a new option in my Fresh Books account called Business Payments. The business payments option means that PayPal will process your payment invoice for a flat fee of $.50 rather than 3%. For those of you who are a little less math inclined (like me most days) – you would save $29.50 on a $1,000 transaction. That could really add up over time.
Of course, anything that sounds too good t be true probably is. There are a few “catches” to the deal.
1. It appears that the PayPal Business Payments is only available through invoicing programs (like Freshbooks and Harvest).
2. Your client needs to have a paypal account linked to a bank account. If they are not linked, paypal will ask them to link. If the client does not want to link, the payment will not go through.
3. If the client pays from an account that is linked but the money needs to come from their bank — the payment could take 3-5 days to process (this little gotcha got me this month…)
Despite the gotchas, if your clients and systems can work around the limitations, business payments seems to be a nice way to give yourself a 3% raise…
When To Post to Social Media http://t.co/RqOvkDnC via @pacelattin 
Leave A Reply (No comments So Far)
No comments yet