What time are paypal payments due

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Re: What time are paypal payments due

Post by kevinchess1 » Tue Apr 24, 2018 2:54 pm

jaytee wrote:I always use BACS. Always in my account early hours of Friday morning, sometimes even on Thursdays. Can then move to your paypal account if you wish.
I don’t see the point of this
Why not put it straight into PayPal?
Is there an issue whereby BACS are more reliable?
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Re: What time are paypal payments due

Post by AAAlphaThunder » Tue Apr 24, 2018 7:39 pm

kevinchess1 wrote:
jaytee wrote:I always use BACS. Always in my account early hours of Friday morning, sometimes even on Thursdays. Can then move to your paypal account if you wish.
I don’t see the point of this
Why not put it straight into PayPal?
Is there an issue whereby BACS are more reliable?
If the money is paid via BACS into a bank account then credit / debit / paypal / cash from ATM are possible from the same pot of money.
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Re: What time are paypal payments due

Post by blythburgh » Wed Apr 25, 2018 10:23 am

kevinchess1 wrote:
jaytee wrote:I always use BACS. Always in my account early hours of Friday morning, sometimes even on Thursdays. Can then move to your paypal account if you wish.
I don’t see the point of this
Why not put it straight into PayPal?
Is there an issue whereby BACS are more reliable?
It costs imutual to pay into paypal but BACS is free so it is to the benefit of imutual to use the BACS system
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Re: What time are paypal payments due

Post by RonFlorabud » Wed Apr 25, 2018 5:26 pm

blythburgh wrote:It costs imutual to pay into paypal but BACS is free so it is to the benefit of imutual to use the BACS system
Does it really? Interesting.

I wonder if the accounts team at iMutual could upgrade to the Faster Payments system.

I'm happy with the Auto-Pay facility offered here via BACS, but FP would be even better :thumbup:
Can't see the point (for me) to withdraw via Paypal - I trust them as much as I trust cashbackers.com.
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Re: What time are paypal payments due

Post by Constantine » Wed Apr 25, 2018 6:34 pm

blythburgh wrote:
It costs imutual to pay into paypal but BACS is free so it is to the benefit of imutual to use the BACS system
BACS isn't free.

I'd guess that IM uses a third party and pays a monthly fee plus a few p per transaction.
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Re: What time are paypal payments due

Post by jaytee » Wed Apr 25, 2018 8:17 pm

Constantine wrote:
blythburgh wrote:
It costs imutual to pay into paypal but BACS is free so it is to the benefit of imutual to use the BACS system
BACS isn't free.

I'd guess that IM uses a third party and pays a monthly fee plus a few p per transaction.
I know for one HSBC Business Accounts make no charge for ‘Business Internet Banking BACS Payments’.

https://www.business.hsbc.co.uk/1/2/!ut ... jAwMDAwMDA!/

Not sure what other banks do.
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Re: What time are paypal payments due

Post by cccashbacklover » Thu Apr 26, 2018 5:18 am

jaytee wrote:[

Not sure what other banks do.
https://www.google.com/search?q=BACS+CH ... refox-b-ab
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Re: What time are paypal payments due

Post by RonFlorabud » Thu Apr 26, 2018 10:19 am

Or perhaps slightly more helpful:

https://www.google.com/search?q=Bulk+Bacs+Payments

As I recall iMutual pays a small amount for their weekly bulk bacs payments - regardless how many - and regardless of the payment amounts.

So does iMutual incur costs for Paypal payments?
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Re: What time are paypal payments due

Post by richard@imutual » Thu Apr 26, 2018 12:28 pm

Yes, at the moment we take the hit on the 2% charge that Paypal make.

For BACS, we have to pay around £400 annually for a software licence and then something like £6 for every weekly "file" of payments. But it doesn't matter how many individual payments are within each file

For this reason, we prefer it when members request payment by BACS

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Re: What time are paypal payments due

Post by Oggy » Thu Apr 26, 2018 12:34 pm

I always use BACS. :)

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