|Re: Online platform and electronic payments||<– Date –> <– Thread –>|
|From: Crystal Farmer (crystalbyrdfarmergmail.com)|
|Date: Thu, 26 Apr 2018 02:58:31 -0700 (PDT)|
Hi Jim, I would not recommend using a personal PayPal account to collect payments. They charge a fee for transferring money and withdrawing it to a bank account. If people are making small payments it will eat away at your budget. There are apps like Cash and Venmo that are electronic but will take fees out too. I think if you want an electronic system you need a Paypal business account, which you can get if you have an EIN for the cohousing group. Less fees and the money transfers faster. The other option is to check with your bank. Most of the big ones have a money transfer system that may be included with your business checking account. Crystal Farmer Charlotte Cohousing
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