Kammys Musing

The past month we have had the opportunity to try out 2 methods of payment; Paypal and MYOB. The client was coming to Australia from overseas and we needed a way to invoice them and also receive payment in a quick and safe manner.

Invoicing through Paypal
We have had a business account with Paypal for years and this is our first time using the invoice feature.

As you can see, Paypal charges 3% on receiving the payment. Once the client makes the payment, you could see it instantaneously on your Paypal account, minus the fee.

You can then either use this account to make payment/purchases online. Or in our case, we opted to transfer it to our Australian bank account. The free option would take 2-3 business days, while the express option costs 1% (anywhere between 25 cents to $10).

Likes
1. User friendly interface – easy to create an invoice and customise the details.
2. Receive payment in real time.

Dislikes
1. No option to pass the transaction fee to client.
Paypal (or at least their rep) believes that the fees should be absorbed by the business. You can see the response here.
2. Days to get the money into your bank account.

Verdict
Although pricey, we would use Paypal again due to the ease in creating an invoice and how quickly the money goes to your account.

Until then, stay hungry, stay safe.