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Old 06-10-2014, 05:09 PM
Is it bedtime yet?'s Avatar
Is it bedtime yet? Is it bedtime yet? is offline Member
Join Date: Feb 2014
Posts: 51
Default Pay Pal

Does anyone have their parents pay tuition with Pay Pal? If so are there any fees associated with it and do you pass those on to the parents?
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Old 06-10-2014, 06:05 PM
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Sugar Magnolia Sugar Magnolia is offline
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Location: Where the wind goes.....
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Yes, and I love it! Yes there is a fee, and yes the parents absorb it. 3 percent maybe? I'm not real sure, because they pay it. I LOVE Paypal. It is waaaaaay better than traditional credit card processing.
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Old 06-10-2014, 06:13 PM
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Crazy8 Crazy8 is offline
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Join Date: Jun 2011
Location: USA
Posts: 2,769

fee is 2.9% plus .30 last I checked. It is free to send money to "friends and family" from a bank account but to pay for a service there is the fee and to send money from debit/credit card there is the same fee.

There are legalities in charging parents the fees, not sure exactly what they are but its been mentioned in the square reader threads in the past.

If I absorbed the fees I would be losing about $30/month, not willing to do that so I just have them pay by check.
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Old 06-10-2014, 06:17 PM
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TwinKristi TwinKristi is offline
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Join Date: Aug 2013
Location: California
Posts: 2,389

I have one family who occasionally pays by PayPal. It works well for me because I have a debit card linked to my acct so I don't have to transfer it to my account and wait, etc. I can use it like any other bank acct to pay bills, buy groceries, withdrawal cash and yes I do have the parents pay the fee. While there are "legalities" with passing the fee on to the parents, you can just say you have a $X fee for online payments and it evens it out.
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