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

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

Replace 2/9/23: A number of Reddit studies (1, 2) speak about a difficulty whereby Paypal modifications the cost methodology after the actual 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:

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

Paypal Invoice Pay permits paying utilities, insurance coverage, telephone payments and extra straight out of your Paypal account with the entire common cost strategies allowed by Paypal. Distributors discovered within the Paypal Invoice Pay system will likely be paid through ACH financial institution cost.

Most insurance coverage corporations and utilities possible enable direct bank card funds, so this invoice pay system may not be helpful for most individuals since you’ll be able to pay with a bank card, regardless.

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

You may as well pay bank card and mortgage payments with Paypal Invoice Pay, however for these you’ll be able to solely use financial institution or Paypal stability because the cost methodology.

Potential makes use of of Paypal Invoice Pay:

  • Payments equivalent to insurances or utilities sometimes received’t settle for bank card funds. Or they could cost a payment for card cost or they received’t settle for AmEx playing cards or Visa reward playing cards. These is likely to be payable with Paypal Invoice Pay.
  • Paypal is generally a bonus class on numerous playing cards, and Paypal Invoice Pay is a pleasant approach to make use of them.

Just a few 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 cost display screen that your Paypal stability is at all times used first. Make sure you switch out any Paypal stability earlier than making a cost if you need the cost 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 cost is displaying “Service provider sort – Insurance coverage gross sales, underwriting and premiums.”
  4. Make sure you double test your cost methodology – there are a lot of studies of Paypal switching the cost methodology afterward, see this Reddit thread.

Hat tip thefrugaltourist

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