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I need to help set up a coach with a PayPal account for fees like for lessons and travel ball expenses.

- Is PayPal the best option? Since they charge fees, are there any better services?
- What type of PayPal account do you need?
- Did you create a separate bank account to keep funds separated?

Any other tips for doing fees and stuff online? Thanks!
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For a small, occasional vendor like a coach, paypal is an excellent option. You just need to set up a merchant account and the funds will be deposited into any account you choose. There's really no need for a new account...depositing into a regular checking account would be fine. The fees that paypal charges are very similar to anyone who accepts credit cards.

Assuming you have a bank account open already, you do all of the PayPal setup online through

I use PayPal as a payment option for my other small business (Web development), and here is how it worked years ago - probably still the same.

First of course you will set up your PayPal account by entering your info on Next, in order to receive the funds from payments made to you, you will also enter your bank account information. PayPal will then make two small electronic deposits into your bank account (in the range of 1 cent to 5 cents over a couple of days time). You will watch for those deposits into your bank account, and then enter the deposit info on to verify that your bank account info is correct.

If you only accept payments by electronic check from customers, PayPal will not deduct a fee from the payments to you (its free). However, most customers expect you to accept credit cards, and I think the added convenience for them helps your business. PayPal will deduct around 2 to 3 percent from each payment for the credit card fee.

Also, the first time a PayPal payee receives an unusually large payment, PayPal may hold the money for a while. My young adult son had a PayPal account that he had used to buy and sell a few small things on eBay - under $100. Later he sold a very nice guitar on eBay for around $1,500, and accepted payment thru PayPal. PayPal held those funds for "verification" - he could not withdraw the money for approximately 30 days. This protects from being stuck refunding the payment for a stolen credit card, etc.

Last edited by MN-Mom
Thanks for the input! Assuming just a single coach managing 4 travel teams:

- "Premier" or "Business" account? Is there a difference in fees or other capabilities? I'm not sure I get the distinction between accepting "credit cards" and if that is a function of a business account (i.e. does a debit card work with Premier or do they need your bank acct to do an EFT?).

- Is there a way to set up an email list and recurring monthly invoices per team via PayPal? That seems like utopia for a coach! Is it easier to just tell people to make a payment via your email address or via web page link?

The goal here is get the coach out of chasing 100 people around every month for fees...

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