PayPal’s fee-free Friends & Family payments for business accounts are coming to an end
PayPal has placed new restrictions on a feature in its payment system that allows customers to receive money without paying additional fees. Beginning July 28th, only personal PayPal accounts will be able to receive funds through Friends & Family, a transaction mechanism designed for trusted receivers.
PayPal allows you to send money in two ways: Friends & Family and Goods & Services. F&F is intended for things like paying a friend back for dinner or giving your child some birthday money – you know who’s getting the money and what you’re paying for. There is usually no price involved, but it also removes protections for potential concerns, such as refunds or scams.