PayPal Goods and Services is quite a good option for all the buyers and sellers who are looking to exchange money safely online. You can find anything on the internet right from the secret of the deepest ocean and the revelation of the highest sky. Almost everything you will find on the Internet nowadays.

Today, we are going to discuss the payment methods like PayPal that have transformed personal as well as our business transactions. PayPal is absolutely free to join, and you can straight away open an account with PayPal by providing an active email along with few identification documents. In this article, we will be talking about the PayPal Goods and Services Feature and how you can manage your incoming funds as a common buyer or as a business owner.

When you receive money from PayPal for your family, relatives, and friends within the same country, PayPal doesn’t charge you a fee. Though, you will be charged with a small percentage of the amount, if you use PayPal to pay for goods and services.

PayPal Goods and Services

PayPal Goods and Services feature is all about the entire method of how the money is being distributed across the PayPal account. It is about to send, receive, and pay with funds. There are a couple of modes of payments exist within PayPal, which are as below:

Goods – This refers to all the physical items or the products that you bought from other people; it also represents the tangible product that one can buy from another person.

Services – This refers to the intangible works that you performed and offers services to others. This includes all the services that you offer online within the country or abroad, it is not limited only to content writing, SEO, taxation work, web management, etc.

All Goods and Services have a corresponding fee that can be processed through PayPal. The transaction is automatically covered and protected by PayPal Purchase Protection, which will be a huge peace of mind to both, buyers and sellers. The transaction fee adds up if you are receiving funds from overseas.

How do PayPal Goods and Services work?

If you have an active PayPal account, you can use the PayPal Goods and Services feature, which is quite an easy process. To lift up the withdrawal limit from your PayPal account, you need to get your account verified.

Though, PayPal allows a basic and personal account to receive money without having limits at all. But as and when you want to withdrawal money from PayPal, you have an option to transfer money from your PayPal account to your Bank account, or other external recipients but only up to a limited amount.

Getting your account verified on PayPal will be beneficial for you, especially if you plan to charge for “Goods and Services” using PayPal as a payment method.

As a Buyer

When you buy something via online mode and arrive at the checkout page, by click on the “Buy Now” button, then PayPal will automatically process the payment as Goods and Services.

Though, before a transaction is complete, the buyer has an option to choose to pay the fee or pass it on to the person you are purchasing from.

If you want to pass it on, change the payment to “Goods and Services” payment which will be covered by PayPal Purchase Protection.

As a Seller

Use your PayPal account to accept money for the sale of Goods and Services. As and when you have the money in your PayPal account, you can hold the funds in a linked Cash Account, or alternatively, you have the option to transfer these funds into a bank account, debit card, or credit card.

If you are a frequent seller and use your personal PayPal account to sell goods and services, it is recommended to convert your PayPal personal account into a business account.

Pay for PayPal Goods and Services

Do follow the below steps to pay for Goods and Services:

Step 1: Launch a web browser on your computer and log in to PayPal with your account credentials.

Step 2: Go to the main dashboard, and click on the “Pay & Get Paid” tab on the top of the screen and then click “Send Payment” under Make Payments. You may also find the “Send Payments” option under the Quick Links section.

Step 3: Input an email address of the recipients in the box and click “Next.”

 

Step 4: Input the amount that you want to send to the recipient and add additional notes in the below text box. Once done, click “Continue.”

Step 5: Confirm the transaction by entering payment details and click on “Send Payment Now”. Then, wait for a while and you will see a confirmation notification that funds have been transferred successfully.

Request money for PayPal Goods and Services

Do follow the below steps to request money for Goods and Services:

Step 1: Launch a web browser on your computer and log in to PayPal with your account credentials.

Step 2: Go to the main dashboard, and click on the “Pay & Get Paid” tab on the top of the screen and then click “Request Payment” under Accept Payments. You may also find the “Request Payments” option under the Quick Links section.

 

 

Step 3: Input an email address of the person you are requesting funds from in the box and click “Next.”

Step 4: Input the amount that you want to request and add additional notes in the below text box. Once done, click “Request Payment.”

Step 5: That’s it! You will receive a confirmation message that you’ve requested payment.

 

PayPal Goods and Services charges

As an International Seller

PayPal “Goods and Services” is a commercial transaction and hence they charge a fee of 2.90% + Fixed charges along with currency conversion. If you are going to receive money as an international seller, then the fees can start to add up quickly.

As a Domestic Seller

When a domestic seller using PayPal Goods and Services, PayPal considers the payment as commercial transactions and charges accordingly. There will be a fee for online or in-store payments, which will be as follows:

• Online payments: 2.9% + Fixed charges based on the currency.
• In-Store Payments: 2.7% + Fixed charges based on the currency.