Receiving a payment is easy.
1) Provide the payer with your email address (linked to your PP account.)
2) They can:
- Make the payment from their PP account (no fee, immediate credit)
- Make an "e-check" payment from their bank account (no fee, 3-5 weekdays)
- Make a payment using their credit card (small percentage fee, immediate credit.)
You may then use the PP balance to buy stuff (get a PP debit card if you want to use the account for in/out payments a lot - it works like a regular cheque card. I have one, and it simplifies my business accounting...) or follow the PP instructions to link your PP to your bank account (essentially, they verify your account by sending some small deposits - totalling about a nickel - to your account. You check your statement, tell them what the deposits were, and they consider you "authorised to access that account.")
NB: You can use the money in your PP account immediately if you pay through PP or using a PP debit card, but you wait 3-5 weekdays if you transfer money into your bank account for use. Your call.
I've been using it as my primary business account for a couple of years now, and it's worked handily.
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