Bye Bye Paypal Friends & Family
alaura22
Posts: 3,238 ✭✭✭✭✭
Got this today from Paypal
Effective July 28, 2022, PayPal will remove the Friends and Family option for domestic payments to U.S. business accounts, and all received payments will be subject to the seller fee. This will ensure all eligible purchases are covered by PayPal’s comprehensive Purchase Protection, guarding buyers and sellers if something goes wrong with a purchase. You can create a personal account to receive personal payments without seller fees while continuing to use your business account to receive commercial payments and use business only features.
So much for that...............
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I still prefer checks or USPS Money orders. Just my personnel preference.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
Many business Paypal account holders also own a private and personal Paypal account that can then be utilized to facilitate Friends and Family transactions.
peacockcoins
Or you can just use Zelle and avoid PP altogether
Does Zelle provide the same buyer protections that PayPal provides?
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@PerryHall zelle claims to offer no protection. They clearly state on their website to only use zelle with people you trust. We had an issue using it for business and they refused to help when we had an issue.
Comparing it with F&F, the subject of this thread. Zelle is like sending cash, and it even uses a debit-card function (as opposed to the ACH) so there is no recourse. Obviously G&S offers protection but does F&F?
Look for Venmo and Zelle to follow soon for business accounts. Maybe its so they can get back some of the revenue they are losing, or possibly has something to do with the future of 1099k.
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