Small Biz Bee takes a look at some of the pros and cons of using PayPal to collect online payments for your business. I’ve been using them for a few years in one of my businesses and haven’t really had any major problems (although I am looking around for a more flexible system for another business I’m getting ready to launch). I have, however, heard horror stories, particularly concerning Con #3:

3. Rules- When you play with PayPal, you play by their rules. They can freeze your account, withhold funds, or take money out of your account for no reason. Also, funds are deposited into your PayPal account instead of a personal bank account which you control.

Many of those horror stories have resulted in funds being frozen for a significant period of time. Not cool, PayPal dudes.

What do you think of PayPal? Yay, nay?

Source: Small Biz Bee