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kuhawks69 Member
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My boss wants to use Paypal to issue Paychecks is this possible?

I am currently working at a hospital and they want to start using paypal to issue everyone paychecks. I have an account setup and  already have my bank acount authorized. My question is well i be able to transfer the full amount to my bank? Would getting a type of Paypal creditcard that will allow me to use the balance sent from employer?  Trying to understand how I can get my paycheck to my bank or be able to use the funds sent by employer. Fund will be greated then 3500 every two weeks. Any help would be great. 

 

 

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DPCreations Volunteer Advisor
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Re: My boss wants to use Paypal to issue Paychecks is this possible?

PayPal doesn't issue checks.  People send money to your PayPal account.  You do what you want after it arrives in your PayPal account.

 

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kuhawks69 Member
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Re: My boss wants to use Paypal to issue Paychecks is this possible?

I understand that Paypal does not issue checks. My concern is getting access to money once my employer sends it my paypal account. I do not want to be limited to a certain amount to transfer everyday. I want to be able to access to the full 3500 once it hit s my paypal account. Will i be able to transfer the full amount to my bank account on file? Would upgrading to a business account help? Just trying to find the easiest way to get access.

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DPCreations Volunteer Advisor
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Re: My boss wants to use Paypal to issue Paychecks is this possible?

You will have daily and monthly limits until you qualify for no limits.

 

For direct access direct deposit to checking account is much better option.

 

Depending on location and method of transfer, PayPal could even have issues with. What currencies are involved?  What countries?

 

If there is ever an issue with the person sending the money, it would reflect on your account.

 

My guess is that the money is not a simple employee salary.

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sumiko Contributor
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Re: My boss wants to use Paypal to issue Paychecks is this possible?

I have never heard of a hospital using Paypal to send out paychecks.

or any decent size employer?where is the payroll dept?

 

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sumiko Contributor
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Re: My boss wants to use Paypal to issue Paychecks is this possible?


DPCreations wrote:

PayPal doesn't issue checks.  People send money to your PayPal account.  You do what you want after it arrives in your PayPal account.

 


yes,PAYPAL does issue check,from your paypal account ,a bank check,fee is $1.95 and it takes days to arrive

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DPCreations Volunteer Advisor
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Re: My boss wants to use Paypal to issue Paychecks is this possible?

@sumiko

My reference was to the OP statement title his boss wants  "....use Paypal to issue Paychecks..." as if the boss wanted to checks isssued.  I do realize that the OP can withdraw by check.  The OP just isn't clear about what is expected.

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sumiko Contributor
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Re: My boss wants to use Paypal to issue Paychecks is this possible?

how is your employer sending your paycheck?

friend and family or goods and services.

if goods and services,you will pay 30 cents plus 2.9% fee,which is unfair to you $101.50 on $3500 .

I dont see why you cant download to your bank account ,if you want to spend it,you can either get a PAYPAL business debit card,but not sure if you qualify unless you are a seller,check the requriements.

when you use that card as a credit card,PAYPAL gives you 1% cash back.

You can also get a Paypal Prepaid MC debit card in any store ,for 4.95 a month fee,you can move money back and forth between your Paypal account and the debit card,

Or you can ask Paypal to send you a bank check,fee is $1.95.

but this is pretty lousy deal for your employer to send your paycheck via paypal,why cant they do electronic banking and deposit your money into your bank account.

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kuhawks69 Member
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Re: My boss wants to use Paypal to issue Paychecks is this possible?

well, i contacted customer service and they said I could up grade to a premium account and use the paypal debit card. I will have instant access to the funds with no fees deducted.

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sumiko Contributor
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Re: My boss wants to use Paypal to issue Paychecks is this possible?

there is daily limit at ATM it is $400,daily limit is $3000 

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