Getting Paid When You Earn Money Online

If you want to make money online there are a lot of opportunities to do so. There are escrow services, money transfer programs, merchant accounts that offer payment gateways, good old Western Union and then there’s the postman who can bring you envelopes with checks in them. If you want to be able to get your dosh quickly and easily, PayPal is a great solution for those wanting to access their money quickly. Plus it has a host of options when your online business expands.

Reasons to Consider PayPal

When you earn money on the internet, you want to know the money will get to you and with a PayPal account you can get access to your funds quickly. This is a service that is scalable and flexible and used for consumers, businesses and professional freelancers as well.

PayPal really has become the preferred method for transferring money through the internet. Instead of waiting for a check to arrive or going to a wire transfer service to get your funds, PayPal will send you an e-mail that says, “You’ve got funds!”

The money can be accessed through your e-mail and you can choose to spend it online or to transfer it to your bank account. You can also even get a check in the mail from PayPal if that’s your preference. The transfer process happens quickly on instant transfers and people can pay you from their PayPal balance, from their credit card or through an e-check as
well.

If you’re ready to sell a product or a service online, this is an ideal solution because you can even put a “donation” or “buy now” button on your website quickly and easily allowing people to buy from you. They can send you money from their PayPal balance, from their bank account through the e-check option or even fund the payment with a credit card.

Expandability

When you are ready to expand your business, you can set up a merchant account with PayPal in order to set up a payment gateway and use other tools that enable your business to look like a professional company even if you’re just someone working from your laptop on the sofa surrounded by your family.

Drawbacks

PayPal isn’t exactly cheap. Its offerings include tiered pricing depending on multiple factors including how the money is being sent, the dollar value and the countries the transactions are taking place between. The company also has the ability to freeze your account if it suspects any unlawful or dubious activities so you could have a boatload of cash from the sale of your unique product that gets tied up while you sort out the red tape. Account freezes don’t happen every day nor to everyone so this is more of something to be aware of rather than something to be fearful of.

Because PayPal is easy to set up it is often preferred over alternate merchant services. When your online business grows to a point where you want more robust offerings or want to renegotiate to get lower service fees for accepting payments you might consider looking at all your options. For the beginning online entrepreneur or freelancer, PayPal definitely offers the easiest online money making solution