In theory, you can use your PayPal account to pay your salary. However, you must take certain points into account when making this payment.
Specify PayPal as salary account
PayPal is not a checking account, but a so-called Escrow account.
- A trust account is usually used to Payments on the Internet and thus protect buyers and sellers. With PayPal, payments on the Internet are therefore secure.
- You just need to enter your PayPal email and associated password Your bank details are therefore not required for the payment process on other shopping sites.
- In general, the Processing of money via PayPal longeras this is first transferred to the PayPal account. To withdraw the money, however, you must have the money transferred to a previously linked checking account. This can take a few more days if you do not use the instant transfer.
- So you can have your salary paid into your PayPal account. However, PayPal charges two percent feeswhich are probably not paid by the employer. This means you lose part of your salary.
- You should also note that your employers correct data for the transfer. A cash payment of your salary is also only possible after it has been transferred from PayPal to your bank account.
- Therefore, it is advisable to only use PayPal if you have almost all Invoices Pay via the payment service and only need a small amount of cash.