![]() You can set up a direct deposit through a PayPal Balance account. PayPal considers that a "commercial transaction" and it comes with its own set of fees. Employees or contractors: You can pay contractors or employees with a PayPal business account, which is different from a consumer account.Friends and family: You can send money to most friends and family that also have PayPal accounts without a transaction fee unless you need to translate.Merchants: If a merchant accepts PayPal checkout, you can use it to pay for goods and services.There are several people and places that will accept PayPal as a payment method, including: You can also access PayPal's other offerings including credit cards, a debit card and a prepaid card through the Balance account. What is a PayPal Balance account?Ī Balance account (previously called a PayPal Cash or Cash Plus) lets you store funds in your Paypal account that you can spend, send or hold for future purchases. Be sure to check the terms and annual percentage rate, or interest charges for each credit service, which are run by PayPal's banking partners. For instance, there are fees for different kinds of credit. ![]() PayPal also charges fees for a variety of services beyond the basic free PayPal personal account. And there's a 1.5% fee to transfer money out of your account instantly instead of waiting a few days when PayPal sends it for free. There are also some fees for other convenient personal transactions.įor example, PayPal charges 2.9% per transaction if you use funds from a credit card instead of a bank account. PayPal does charge foreign currency fees when you send money to friends and family outside the U.S.
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