Cohousing-L Mailing List: Re: Online platform and electronic payments

[Crystal Farmer (crystalbyrdfarmer]

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