Paypal Review: How To Create A Paypal Account, Sending And Receiving Money Through Paypal

What is Paypal?

PayPal is an online payment system that’s been around since 1998, PayPal is a service that enables you to pay, send money, and accept payments. from anywhere in the world for a small fee or no fee at all if the money is going to or coming from a friend or family member in the US. PayPal uses data encryption and anti-fraud technology.

PayPal Holdings, Inc. is an American company operating an international online payments system that supports online money transfers and works as an electronic alternative to regular paper methods such as checks and money orders.

How does Paypal work?

PayPal has become a much widely accepted method of payment both ofline and online. The idea is very simple: Paypal Gives people the ability to accept payment online very fast and securely without having to use a credit card. Although PayPal has occasionally had trouble with fraud cases, and zealous government regulators, but the company now boasts of having over 277 million active accounts

PayPal’s core business is simply an online payment service that lets individuals of the public and businesses to send and recieve funds electronically. Here are some of the things you can use PayPal for:

1. You can send or receive payments for online auctions that you see on eBay and other Websites.
2. You can Buy or sell goods and services.
3. You can make or receive donations
4. You can exchange cash with someone for its equivalent in Paypal.

You can send funds to anyone with an e-mail address, whether or not your recipient has an active PayPal account. To receive the funds, though, the recipient must create a PayPal account with that e-mail address. 

Payment methods supported by PayPal

There are several ways to send money to another party through PayPal, here are some of them:

1. Instant transfer: Sending money this way means the money is credited immediately to the recipient’s account. That person can then transfer the money to his or her personal bank account immediately. If you want to send a transfer, you must have a credit or debit card that is registered with PayPal as a backup for your funds. It is just like writing a secure check without exposing any of your personal information.
2. eCheck: Sending an eCheck is not as “instant” as an instant transfer. It is just like writing a check from your checking account; it can take around three to five days for an eCheck to clear. You do not need a backup source of funds when you use eCheck.
3. PayPal balance: If someone sent you money through PayPal or you have sold something on eBay, you have a balance in your PayPal account. This balance is first applied to any purchases you have made. Then, when your account has no balance on it, you can choose to using your credit card. It is simplest to keep your books balanced if you withdraw your PayPal balance to your business account before you make any purchase.
4. Credit card: Charge it! Putting your PayPal purchases on your credit card is a very good idea. because, you are not only protected by PayPal, but also, your credit card company backs you up in case of fraud case.

Disadvantages of PayPal 

1. You will your Section 75 rights.
2. PayPal would charge you to receive money.
3. PayPal can freeze any user’s account.
4. PayPal may hold on to your money.

Advantages of Paypal

1. Credit card security.
2. Flexibility.
3. Send money.
4. The iPhone App. …
5. Online Auctions.
6. Cost.
7. Discounts.

How to Create a PayPal account

1. On your computer’s internet browser, go over to https://www.paypal.com.
2. In the upper right-hand corner of the screen, click on the “Sign up” button.
3. On the resulting screen, select whether you are setting up a business or a personal account. If you are simply using this to buy and sell on eBay for instance, or just to send money to a family member or friend, you will want to select “personal” here. Click “Next” after that.
4. On the next page, you will be asked to enter your legal first and last name and your email address as well as to to create an new password and confirm that password. When finished, click “Next.”
5. Next, you will need to enter your mailing address as well as your phone number. When you have completed this information, which is mandatory, click on “Agree and create account” and your PayPal account would be created.

Conclusion

Since PayPal accounts connects directly to a bank account, anyone who purchases an item can pay for online purchases even if they do not own a credit card. Using PayPal might increase the financial security for buyers since the seller does not receive bank account or any credit card numbers, only the PayPal account number.

And that makes Paypal a very good option to choose when sending or receiving money across the globe, some bloggers and freelancers make use of Paypal as there Payment Method because it’s safe and secured.

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