Streamline your cash flow with automatic transfers to your bank account

The importance of cash flow for small businesses

All business owners know that cash flow is critical. Even successful, profitable businesses will face problems if they can’t access cash to pay their bills and staff wages, or purchase more inventory.

Managing cash flow can be especially difficult for small and fast-growing businesses. They don’t enjoy the supplier credit extended to more established businesses and they frequently need to pay for inventory long before they receive revenue and cash from selling the goods. Often they don’t have the reserves and resources to weather a crisis.

That’s why it’s important to have your money in the right place at the right time to meet your commitments.

PayPal can help. When a customer pays using PayPal, the money settles to your PayPal account quickly. That means you can use the funds fast within the PayPal network. Many merchants use PayPal to pay suppliers and buy supplies and ads all around the world.

But what happens if you need the money in your bank account? This is where automatic transfers can help.

What is an automatic transfer?

An automatic transfer moves money from your account with any payment services company (such as PayPal) to your selected bank account. Once the transfer is set up, your money is automatically moved – usually daily, weekly or at another frequency you choose – to your bank account so you can be sure you always have your money in the right place to meet your bills.

With any payment services company, the two main types of automatic transfers are:

• Instant transfer: Unlike a standard automatic transfer, which might take a few business days, an instant transfer gives merchants fast access to their money, usually on the same business day. However, given the speed, there are usually fees that might apply to this type of transaction.
• Standard transfer: A standard transfer gives business owners access to their cash within one to three business days or more (depending on your bank). Unlike an instant transfer, there are generally lower (or no) fees, depending on the processor.

Get funds quickly and automatically with PayPal’s automatic transfer feature

PayPal’s automatic transfer feature is easy to turn on once you sign into your PayPal account. You simply select the bank account where you wish your funds to be transferred and choose the frequency – daily, twice a week, weekly, twice a month or monthly – to best meet your business needs.

PayPal automatic transfer also allows you to set a minimum balance amount to ensure there’s always money remaining in your account to cover instances like refunds, purchases, expenses, and other business needs.

Once set up, money is usually transferred and available within 3 to 5 days, although this can vary by bank. Also, keep in mind that transfers, like any type of transaction, are subject to review, and they might be delayed or stopped if an issue is identified. For instance, PayPal may place a payment hold if they need more information from you about a transaction before releasing the funds.

PayPal automatic transfers can save you time and help streamline your cash flow management.

Learn how to set up automatic transfers with PayPal.

Need your funds even sooner?

With even the best-managed cash flow, sometimes you need to move money quickly. That’s where an instant transfer can help save the day. For 1% of the transfer amount (subject to SG$0.50 and SG$15.00 maximum fee), you can transfer money from your PayPal account to your debit card within 30 minutes. (All transfers are subject to review and could be delayed or stopped if we identify an issue.)

Streamlining your business cash flow with PayPal

Whether you receive and send money across the PayPal network, make a manual transfer to your bank or set up a regular, automatic transfer, PayPal helps you streamline your cash flow and move your money to where it’s needed.