Using PayPal For Your Business

Using paypal for your business

Today my PayPal business debit card came in the mail. Today is also the day that I decided PayPal is a great solution for your business.

Don’t get me wrong – I’ve always used PayPal… Because I had to. It’s too convenient to not use.

The major drawbacks that I’ve seen in the past are chargebacks and the inability to quickly access funds.

 

Chargebacks

These can still be an issue. However, to date, I haven’t had a bad experience with them. It’s a bit of a hassle to get on the phone and speak to a representative, but in both cases where I’ve fallen victim to a chargeback, I’ve gotten the help I needed.

Inability to access funds

With the PayPal debit card, this is no longer an issue. You can still withdraw funds to your bank account, but it takes 3-5 days for it to process. The PayPal debit card is instant and I can’t wait to give it a spin.

 

I’ve been researching different banks to use for my business but for now I will stick with PayPal. If you have any positive experiences with other banks, please let me know in the comments.

 

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Comments

Troy
Reply

Been using this for a couple years. It’s like Magic!

Quoc
Reply

I like it too. The only problem is they only give me a daily withdrawal limit of $400.

Jacob
Reply

Troy – Agreed!

Quoc – I hadn’t noticed that. I saw the $3,000 spending limit and assumed that included withdrawals. I suppose nothing can be completely perfect!

Quoc
Reply

Jacob,

I think that $3,000 limit is for purchases, not on cash withdrawal, because that’s what I got when I first had the card.

Jacob
Reply

You’re correct, I just hadn’t noticed that until you mentioned it.

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