What are the fees for Pay Pal compared to bank transfer?

[Claire1775]

I am new to hosting so would be glad to hear your thoughts, please. I am reaching out to other hosts to ask about the advantages and disadvantages (i.e. costs) of receiving payment by Pay Pal instead of bank transfer. The bank transfer seems quite slow - about 8 days. Is the information about charges of Pay Pal set out somewhere? Is there another payment option besides bank transfer and Pay Pal. Many thanks in advance.  

[Mike-And-Jane0]

@Claire1775 I think @Gordon0 uses Paypal. 

[Paul1255]

@Claire1775  Hope you are well!

I use PayPal for my payouts- I don't pay any fees (Payments are routed through Airbnb payments UK Ltd)  and the payments arrive at the same time Airbnb send the payout email through.

[Mike-And-Jane0]

@Paul1255 I strongly believe in the adage of not getting something for nothing. Have you any idea what Paypal get out of being the middleman? I am tempted to change but even though payments into my bank are slow they do at least get there.

[Paul1255]

@Mike-And-Jane0  Does your bank charge you a fee to process/send your Airbnb payouts?

I assume PayPal make their money servicing transactions that do attract a fee- like international payments, businesses that accept payments from customers and so on.

[Mike-And-Jane0]

@Paul1255 Not really - They have my money at 0% interest until I spend it though! Amazing that bank transfers take about a week but Paypal is almost immediate.

[Gordon0]

Yup, I too use PayPal, @Mike-And-Jane0. Couldn't be happier with the service and speed. The moving of cash is easy with their app. Five stars (unlike some of my recent guests), @Claire1775.