Curious about PayPal invoice fees? Want to know about how you can avoid them, and the alternatives to Paypal?
PayPal, once upon a time was heaven to freelancers and businesses dealing with international orders and sales.
As it connected the world.
It made it possible to send invoices and to more importantly get paid right away. Regardless of where you were in the world, in a super convenient way.
…But PayPal is a free service, and there are only 3 ways a free service can make money.
- It sells your data.
- Shows you ads.
- Has fees.
Sending money to your friends on PayPal? It’s 100% free. No fees.
The fees? They come in when it comes to invoices.
PayPal Invoice Fees Explained
PayPal invoices work in a way that if you right now send an invoice for €300, £300, or whatever currency you are in, you are only going to receive €289.45. That’s a €10.55 PayPal invoice fee.
€1000 invoice? That’s €965.65 that you are receiving.
2.9% + 0.30 cents is the standard fee.
PayPal invoices initially fixed the issue of invoices and made paying much simpler and that will never be forgotten, but PayPal’s “low fees” aren’t as low as some of the newer competitors now offer.
The Best PayPal Invoice Alternative
There are a few alternatives, but many of them also offer similar fees, which left us with just one worthy option.
This option will eliminate a huge chunk of invoice fees, but it will also offer you a way to get your money in, much quicker than the likes of PayPal. As the money will go right into your account rather to PayPal, and will offer you with much better currency conversion, which perhaps won’t help you, but will help your clients if they are paying in a different currency.
The PayPal invoice alternative?
You send a €1000 invoice? You will get 995.29 and will arrive at your bank today. Well, unless your client doesn’t pay you today.
…If you are fine with your client paying you in a few days, the transfer cost with TransferWise can be as low as €0.63. And that’s a huge saving for you.
Yes… You will need to create your own invoice, and it won’t be automatically tracked like on PayPal, but…if you email an invoice, you can track when someone opens it, and clicks on a link to it, with the MailTag email tracking Chrome extension, giving you insights into your invoices, and other emails.
Apart from that, MailTag also comes with several other features.
It’s an email signature generator that allows you to create modern signatures in 60-seconds. It comes with a great feature that allows you to switch between the signature directly from your email composer, allowing you to choose the right signature for your specific email.
MailTag also allows you to send automatic follow-ups if your emails are not opened…And much more which you can find out about when you try it out.
That’s Paypal Invoice Fees Explained and the Best Alternative
If you send invoices every so often, PayPal is a great platform, and it has initially revolutionized payment on the internet.
…But if you send invoices weekly or monthly, over the long-term you are going to lose a ton of funds over fees, and your client isn’t going to benefit either due to the currency conversion.