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Has anyone here been paid their salary through paypal? I've had a prospective employer suggest that this would be his easiest method of payment. I've looked at the paypal website but can't tell whether I would lose a percentage of my salary. Any thoughts or experience with this?
That sounds very unprofessional, but as long as the employer would cover any fees from transferring, I guess you're not losing anything. Just make sure to get a paystub so you can verify that you're getting paid every cent that is owed.
Some small companies use paypal so they don't have to write physical checks or actually pay for e-pay services. Verify if your payment is coming from an individual or business. If you work for a small employer (under 10 employees?) it should be ok.
I have a friend who pays that way, he says the fees he is charged are less for paypal than other more 'professional' electronic check delivery services.
As someone else said, I don't know if Paypal has some kind of backend that helps with the payroll taxes or if they are essentially doing a gross to net behind the scenes. It would make me concerned that a company who is doing this where else are they cheaping out?
On the other hand, I have worked with employers who did pay out salary via a prepaid visa if there was a payroll problem and if the employee needed the money ASAP. The employee still received a payslip and the amounts were calc'ed through gross to net processing, but the payment delivery was through the visa card.
Never trust Paypal with anything as important as your pay check, never.
If you have no choice in the matter until you find a different job, never use paypal for anything online. Any little glitch on a purchase or sale could jeopardize your entire paycheck, and you have very limited paths or rights to remedy the situation. Paypal has a long history of stonewalling complaints and disputes, and since they don't have to follow banking regulations, you are just SOL.
Paypal would automatically remove a pretty large percentage, and then the taxes would not be reported, so he could technically bill you as an under the table employee. Unfortunately this leaves you in a situation where you cannot figure your taxes at the end of the year. (If he is taking taxes out then hopefully he is sending them on properly, but how can you tell?
Paypal would automatically remove a pretty large percentage, and then the taxes would not be reported, so he could technically bill you as an under the table employee. Unfortunately this leaves you in a situation where you cannot figure your taxes at the end of the year. (If he is taking taxes out then hopefully he is sending them on properly, but how can you tell?
PayPal does take a fee, but it can be from the sender or recipient. Usually in this case, the sender pays the fee.
Personally, I think this is a questionable practice unless you're a contractor.
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