I’ve been using PayPal for years. I like the convenience that if offers, but, lately I’ve been starting to wonder if the trade-off is worth it. For example, by using PayPal you will automatically lose a small % of each transaction you receive to fees. When you receive a transaction for a few thousand dollars the fee can start to add up. As far as I’m concerned, PayPal is NOT a good option for receiving payment for services. I would much rather wait for a check in the mail than lose even a small percentage. You have to figure it takes a few days for the PayPal money to be deposited in your bank account anyway, so why not just wait for a check to begin with?
It’s funny because it’s really easy to lose track of just how much money you lose in fees because after all, who cares about a dollar or so in fees? Well if you have a few hundred transactions that take a dollar or so then that’s a few hundred dollars that you missed out on.
