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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 12:49 PM
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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.

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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