Do any of you take payments via PayPal in Euros and have them transfered directly to your Italian bank account? (I have emailed PayPal, but not heard back yet!)
It seems silly for me to take payments in Euro or GBP and then pay to covert them and transfer to my US bank..and then convert again to pay my bills, etc. for the upkeep of the property....guess I could log on and have a primary account in the Italian site?? but then seems silly for any Americans that may book??
PayPal with my Italian bank account?
-
Hells Bells
- Posts: 13173
- Joined: Sat Apr 30, 2005 8:42 am
- Location: French Alps
- Contact:
Musetta, to pay directly into your Italian bank account, you will need an Italian Paypal account. Your US guests will pay via their US one in euros, just like my Uk guests pay in euros to my French paypal account. I think you may be able to add a US bank account to a foreign Paypal account, but not a foreign account to a US paypal one.
Musetta,
As Helen said, you have to open an Italian account to add an Italian bank account. That's what we did with our French account.
We were also able to link our French PayPal account to our US Checking account, so we can easily transfer money between them without paying a fee (though there is a significant waiting period), and we can choose where our rental payments go.
As Helen said, you have to open an Italian account to add an Italian bank account. That's what we did with our French account.
We were also able to link our French PayPal account to our US Checking account, so we can easily transfer money between them without paying a fee (though there is a significant waiting period), and we can choose where our rental payments go.
That's exactly how we felt!it will feel nice to have some funds actually going INTO my Italian account for once and not just out
Brooke
-
Hells Bells
- Posts: 13173
- Joined: Sat Apr 30, 2005 8:42 am
- Location: French Alps
- Contact:
Hi Musetta,
You also need to be careful because if you have a partita IVA then all funds have to be paid direct into your italian bank account (the law changed recently). We had to give up on the idea of using Paypal for that reason and now use a POS for credit/debit card payment. It has also worked out cheaper in the long run.
You also need to be careful because if you have a partita IVA then all funds have to be paid direct into your italian bank account (the law changed recently). We had to give up on the idea of using Paypal for that reason and now use a POS for credit/debit card payment. It has also worked out cheaper in the long run.
-
Hells Bells
- Posts: 13173
- Joined: Sat Apr 30, 2005 8:42 am
- Location: French Alps
- Contact:
Enid, when you go to pay for something by Paypal, you have a number of options available as a method of payment. Depending on your account, you can use the Paypal balance, an instant bank transfer, or a credit card. You can also choose echeque which is a cheaper but slower method of payment, which takes the money from your bank account.
-
The Olive Grove
- Posts: 750
- Joined: Sun Mar 25, 2007 2:19 pm
I take it this means we can't take payments into our UK Paypal account and transfer the payments to my Italian bank account.HelenB wrote:That option is not available to UK/French account holders. However, I use an e-cheque which is much less than a normal transaction so not too bad.
I looked at opening an Italian Paypal Account but couldn't see where I could select English (or whatever) as my nationality, whilst stating that I lived in Italy - sorry bit thick about these kinds of things - if someone could explain.
Also what's this about partita IVA and having to pay funds into Italian account - would this be a problem even if I only wanted to pay funds to Italian bank account anyway.
Hope all that makes sense - and I haven't been on the Primitivo yet either
OK, the short version! 
To let out property in Italy you have to have a license issued by the comune. To get this it has to be vetted by ASL and you must be registered with the Camera di Commercio as a business with at least a partita IVA (a bit like being VAT registered for self employed people).
Earlier this year a law came into force regarding limiting the use of cash in business (Artt. e 12 bis DL 4.7.2006, n.233 Legge di conversione G.U. Circolari Agenzia Entrate 4.8.2006, nn.27/E punto 7).
This effectively states:
- that all self employed people have to maintain a bank account in their own name, through which all their business transactions must be paid.
- payments over €100 for services must be taken and made either by cheque or bonifico and must be done in a traceable manner.
There is a phasing in period so that you can take up to €500 in cash up to 30th June 2008, but you need to keep traceable records.
Hope this helps - I'm not an expert so you probably need to check with your commercialistÃ
To let out property in Italy you have to have a license issued by the comune. To get this it has to be vetted by ASL and you must be registered with the Camera di Commercio as a business with at least a partita IVA (a bit like being VAT registered for self employed people).
Earlier this year a law came into force regarding limiting the use of cash in business (Artt. e 12 bis DL 4.7.2006, n.233 Legge di conversione G.U. Circolari Agenzia Entrate 4.8.2006, nn.27/E punto 7).
This effectively states:
- that all self employed people have to maintain a bank account in their own name, through which all their business transactions must be paid.
- payments over €100 for services must be taken and made either by cheque or bonifico and must be done in a traceable manner.
There is a phasing in period so that you can take up to €500 in cash up to 30th June 2008, but you need to keep traceable records.
Hope this helps - I'm not an expert so you probably need to check with your commercialistÃ
-
Hells Bells
- Posts: 13173
- Joined: Sat Apr 30, 2005 8:42 am
- Location: French Alps
- Contact:
mmmm.....now I'm confused too...I understand the part about neededing the funds to go driectly into the Italian bank...but does that mean actually that you CAN'T use paypal and have people pay by echeck or credit cards? that wouldn't make since a all it doesn't seem...I would think I would be allowed to take credit card payments and THEN transfer into my account? I guess I could have people just do bank transfers...but many people (i would think ) would not want to...I, for one, would never book anhything without the protection of a credit card I relaly think it would be a hard sell to tell a US guest that I couldn't take thier check or credit card or paypal and that they could only use wire transfer to pay? ok...now I'm just confusing myself....I have no clue what to do now
Olive, I looed at opening the italian paypal and came accross the same problem...any ideas??
I relaly think it would be a hard sell to tell a US guest that I couldn't take thier check or credit card or paypal and that they could only use wire transfer to pay? ok...now I'm just confusing myself....I have no clue what to do now Olive, I looed at opening the italian paypal and came accross the same problem...any ideas??
I use an internet payment system and POS for card payments which have been set up by my bank specifically for this activity. The credits go directly into the account so that they are traceable.
Have a chat with your Italian bank - the service they set up for me costs less than paypal anyway and is very eay to use.
Have a chat with your Italian bank - the service they set up for me costs less than paypal anyway and is very eay to use.
hmmmmm...with BancoPosta...*laugh* maybe that's the problem
They looked at me like I had two heads when I suggested that I wanted online banking access...they are still "working" on it...not a common request in my little Southern Town
need to brush up on my italian banking phrases maybe and find myself another place to bank
They looked at me like I had two heads when I suggested that I wanted online banking access...they are still "working" on it...not a common request in my little Southern Town
need to brush up on my italian banking phrases maybe and find myself another place to bank