PayPal Checkbooks
By
Staten Island, NY Posted: 1/15/2016 1:00:00 AM
Wouldn't it be great if you could write checks from your PayPal balance?
Every day, millions of people receive payments from PayPal, but unless they transfer it to their bank, they can only access it using a debit card. That's pretty strange when you think of it because PayPal is just like an online checking account.
So if you want to pay a bill with PayPal or give cash to somebody who doesn't have a PayPal account, you need to transfer it to your bank before you can write a check. For some banks, this could take a few days.
By offering a traditional checkbook option, online businesses could consolidate their bookkeeping by eliminating the need to open a brick and mortar bank account. Online sales would continue to go directly into the PayPal account, but the business would be able to write regular checks to pay bills, salaries and other expenses.
This would not only be good for consumers, but it would be great for PayPal itself, because merchants would keep their funds in their PayPal account longer, giving PayPal higher returns on the interest float.
Joe Crescenzi, Founder
Related Media:
(Reply N/A) (Edit Topic N/A)
(Like Topic N/A) [0 ] 5903 Views
Related Posts
Banking(20)Finance(21)PayPal(1)
Top 25 Posts
* Note: The ideas on "Idea of the Day" were posted without any formal research into existing inventions.
In some cases, patents may already exist for these ideas, in other cases, there may not be any existing patents and you are free to develop and explore the viability of developing and patenting the ideas.
The authors make no claim that any of the ideas are safe, practical, or suitable for any particular purpose. You are responsible for the results of trying, developing, patenting or using any of the ideas on this site.
For some people, our ideas are just an interesting read, but our goal is to encourage you to take action. If you see an idea that you like, do something with it... Take action.
- Joe
Idea of the Day!
on...