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Reply #24: Open a separate "hobby" bank account and use PayPal with that. [View All]

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hunter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-07-05 11:49 AM
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24. Open a separate "hobby" bank account and use PayPal with that.
I would not attach PayPal to my regular "day job" bank account (the account I buy groceries and pay my mortgage with), but maybe that's just me.

If you have a small business or hobby that occasionally makes money, PayPal is great, and is probably the easiest and safest way to do business over the internet, especially any credit-card business.

There is something a bit shady about how PayPal exists as both a bank and not-a-bank, but I believe this is mostly an artifact of banking laws that were written before the internet was a big deal. It is very expensive to have a "real" bank do your small scale credit card transactions, and PayPal, like it or not, fills a very important niche on the internet.

To paraphrase Winston Churchill, PayPal is the worst small internet payment processor I have ever used, except for the others I've tried.

If you are simply seeking donations, and not selling anything, amazon's "honor system" works pretty well too.

http://s1.amazon.com/exec/varzea/subst/fx/help/payor-fa...

Tell us how it works out!

I myself am very fond of PayPal's easy to use "Buy Now" buttons...

The crowd shouts, "Impure! Impure!"

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