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You're right this is somewhat misleading. Bank to Bank transfer isn't fully automated unless you qualify.
The normal process is for funds to be instantly transfered from source (such as a bank account) into a Paypal account where they are immediately available. Withdrawing money from that Paypal account to a bank (checking) account normally incurs a small fee if it's a small amount and is initiated manually.
However, I understand that there is something called "Automatic Settlement Withdrawal" for qualifying businesses and Payflow ACH (Automated Clearing House) Payment Service, neither of which I know much about, but which may be worth investigating.
Plenty of hosting companies have been offering Paypal for many years. I had a shared hosting account via hsphere CP that had paypal integrated and no problems over a three year period, so it can be done.
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Paypal automates instant bank transfer. While there is a small fee for this, it's cheaper than the human time cost to manually credit an account.
Are you saying that Paypal will automatically transfer funds paid to a merchant into their bank account?
You're right this is somewhat misleading. Bank to Bank transfer isn't fully automated unless you qualify.
The normal process is for funds to be instantly transfered from source (such as a bank account) into a Paypal account where they are immediately available. Withdrawing money from that Paypal account to a bank (checking) account normally incurs a small fee if it's a small amount and is initiated manually.
However, I understand that there is something called "Automatic Settlement Withdrawal" for qualifying businesses and Payflow ACH (Automated Clearing House) Payment Service, neither of which I know much about, but which may be worth investigating.
Plenty of hosting companies have been offering Paypal for many years. I had a shared hosting account via hsphere CP that had paypal integrated and no problems over a three year period, so it can be done.
Paypal is regulated by the FSA in the UK https://www.paypal.com...fsa-outside but I don't know the score in the US.
If you are stuck for questions to ask or things to consider then there are sites that collect horror stories.
http://www.aboutpaypal.org/
http://www.screw-paypal.com/