[Update] Paypal Invoice Pay – Conveniently Pay Payments With Your Saved Playing cards

Replace 2/15/24: Tons of payees that individuals had been utilizing acquired eliminated yesterday from the Paypal Invoice Pay system.

Replace 2/9/23: A number of Reddit experiences (1, 2) discuss a problem whereby Paypal adjustments the fee technique after the very fact to your financial institution. YMMV

Replace 1/16/23: lots of people are experiencing very delayed funds, myself included, so use this selection with warning.

Unique Publish:

Typically there are issues staring us within the face that we simply don’t discover. I realized this week about Paypal Invoice Pay. (Perhaps everybody already is aware of about this?)

Paypal Invoice Pay permits paying utilities, insurance coverage, cellphone payments and extra immediately out of your Paypal account with the entire common fee strategies allowed by Paypal. Distributors discovered within the Paypal Invoice Pay system might be paid through ACH financial institution fee.

Most insurance coverage corporations and utilities seemingly permit direct bank card funds, so this invoice pay system may not be helpful for most individuals since you possibly can pay with a bank card, regardless.

For years I’ve been paying a big month-to-month insurance coverage invoice with financial institution ACH fee since they don’t permit card funds. This week, I added the invoice to Paypal Invoice Pay and despatched a $1 fee with my saved bank card because the fee technique. Two days later the fee is being mirrored on my insurance coverage firm steadiness.

You may also pay bank card and mortgage payments with Paypal Invoice Pay, however for these you possibly can solely use financial institution or Paypal steadiness because the fee technique.

Potential makes use of of Paypal Invoice Pay:

• Payments resembling insurances or utilities sometimes gained’t settle for bank card funds. Or they might cost a payment for card fee or they gained’t settle for AmEx playing cards or Visa present playing cards. These is perhaps payable with Paypal Invoice Pay.
• Paypal is generally a bonus class on varied playing cards, and Paypal Invoice Pay is a pleasant approach to make use of them.

A number of notes:

1. Paypal doesn’t seem to permit splitting payments throughout a number of playing cards when utilizing their Invoice Pay service.
2. There’s a message on the fee display screen that your Paypal steadiness is at all times used first. Make sure to switch out any Paypal steadiness earlier than making a fee in order for you the fee to cost your card.
3. Random attention-grabbing tidbit FWIW: I see that the class of the invoice carries via to the cardboard issuer when utilizing Paypal Invoice Pay. My insurance coverage invoice fee is exhibiting “Service provider kind – Insurance coverage gross sales, underwriting and premiums.”
4. Make sure to double test your fee technique – there are a lot of experiences of Paypal switching the fee technique afterward, see this Reddit thread.

Hat tip thefrugaltourist