What is Funds Now feature in PayPal and how does it work?

Funds Now is a new feature added to PayPal and this allows the select businesses the ability to access the funds from completed sales right away. This means you can avoid hold, delays and reserves on your PayPal money or cash and this will certainly benefit those small businessmen who need to keep their operations going without having to wait. PayPal announced this new feature few months back.

Funds Now program comes free with no extra cost. The unique thing about this program is that your money won’t be held even during disputes. In rare cases, delays may still occur to help protect your account, like if the Paypal suspect you’ve received a payment from a fraudulent buyer.

How does PayPal Fund Now Program work?

PayPal’s Fund Now program works only for eligible sellers. For the eligibility you need to have six months+ of PayPal business account sales history; strong selling history with successful PayPal transactions and a confirmed account information to keep your account secure

• You can make a sale via any marketplace, website, PayPal Here, or invoicing via PayPal.
• Get money from your completed sales is sent directly to your PayPal balance within seconds.
• Also transfer the money to your bank with PayPal’s flexible withdrawal options or start using it instantly from your PayPal balance.

If your account is eligible for Funds Now, you’ll receive an email or account notification. PayPal will continuously review accounts for eligibility so even if you aren’t eligible at this time, keep building a consistent selling record and you may qualify for Funds Now in the future.

Cash flow is a pressing issue for small business owners. With accounts receivables taking days or even weeks by some organizations, near instant availability can solve this problem.

In the world of payments, funding delays of seven to 21 days for small businesses have been far too common. Those funding delays hinder the ability of small businesses to invest back into their businesses, pay their bills, and serve their customers and Fund Now program will surely help.

PayPal currently has more than 17 million businesses using its platform to process payments. The vast majority are small businesses looking to collect on the sales they make as soon as possible. Any delays on their ability to collect on these funds can translate to everything from inventory shortage to payroll problems.

Funds Now is being rolled out to select businesses across the US, UK, and Australia. PayPal is going to expand the program to more businesses and more markets in the near future.