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PayPal question - DP - 08-17-2012
I have been hiring my old client to do work for me-how's that for a story... He hired me to do work for him and then he got fired but I still work for others in the same company so when I'm swamped who better to call on? I did what he instructed me to do so he knows exactly what I need. He hasn't gotten a new job for a few reasons; one being he's over 50 and has MS (although it hasn't been too much of an issue) and no one's going to hire him in this market. He lost his house and is living in his brother's basement, etc.
So I've been putting him to work but he has no bank account so I pay him cash. He does a lot of eBay stuff and he suggested that instead of me withdrawing cash I could pay him thru his PP account. I don't do anything on eBay at all so I would be setting up an eBay account just for this situation.
Is it worth it? What are the pitfalls and advantages?
Re: PayPal question - bazookaman - 08-17-2012
paypal charges a fee?
so he would either get less than the total bill or you'd have to pay more than the total bill.
I've gotten paid this way a couple times.
Re: PayPal question - Mr645 - 08-17-2012
You don't need an Ebay account to use Paypal, just an e-mail address. You can specify the payment as a gift and they don't take out fees
Re: PayPal question - clay - 08-17-2012
Mr645 wrote:
You can specify the payment as a gift and they don't take out fees
...but that's only true if the funding source is either an existing pp balance or bank transfer. Transferring the funds from a CC will incur fees that either are paid on top of the amount you "gift" by the sender, or deducted from that amount by the recipient. As the sender, you would decide who pays the CC fees in that case.
Re: PayPal question - DRR - 08-17-2012
Why doesn't he have a bank account?
Re: PayPal question - Janit - 08-17-2012
It does seem odd that he does not have a bank account. How does he get his money out of PayPal? The usual way is to transfer the money out to an associated bank account.
Re: PayPal question - DRR - 08-17-2012
Janit wrote:
It does seem odd that he does not have a bank account. How does he get his money out of PayPal? The usual way is to transfer the money out to an associated bank account.
He probably buys stuff off ebay. Still that's a bit of a red flag for me. How does he pay his medical bills? Paypal?
I can't think of a legitimate reason not to have a bank account unless you're hiding something, or massively overparanoid.
Re: PayPal question - Markintosh - 08-17-2012
A friend of mine has no bank account to hide assets from an ex-wife. Apparently she took him for everything, including a large chunk of alimony but no child support. I can't really judge that situation as I did not know him while married nor have I met her.
But - he continues to live without a bank account. He does a lot of cash "under the table work" as a tile guy. He shares a house and pays his room-mate cash for rent and utilities. He has no car payment and goes to the Verizon store to pay his bill.
So it is totally possible...
Re: PayPal question - $tevie - 08-17-2012
He's probably hiding from debt collectors. I honestly can't figure out how he's using PayPal without a bank account. Credit card?
I wouldn't use PayPal, personally. I wouldn't want to be entangled with him in any way, even such a tenuous one.
Re: PayPal question - DP - 08-17-2012
>How does he pay his medical bills?
Cash. Works out payment with the doc. You'd be surprised how much less you can pay for medical costs if you pay cash.
>I can't think of a legitimate reason not to have a bank account unless you're hiding something, or massively overparanoid.
Since he is basically off the radar after the loss of his job and house and his issues with his MS he feels comfortable where he's at. He lost most of his eyesight for a few months which is not uncommon with MS. It has since come back almost 100% -also not uncommon-and since he couldn't work when he couldn't see he needs money to pay bills.
I'm not making judgements; he wants to live this way and we are friends and he is very helpful when I need help. I still list payments to him on my taxes and he knows if the IRS comes knocking he'll have to deal with it.