How to Use Paypal

Paypal is a great way to efficiently and safely handle your money matters over the internet. However, one must first learn how to use it properly. This article details the basics of Paypal, and how it can be used for your benefit.

Getting Started

Before opening a Paypal account, figure out what you would want to use it for. If you are an avid patron of Ebay, Paypal will go hand in hand with Ebay. Also, for sending money and receiving money, Paypal can be a great choice as well. 

Opening an account on Paypal is simple. First, choose what account you would like to open. Go onto Paypal's home page, and click "sign up." Then, enter your information, including your address, and card information. Choose a personal, premier, or business account. Rest assured, Paypal uses a great deal of encryption to protect your card numbers and transactions from fraud. 

Sending and Receiving Money

To send money, click on the "send money" link. Then, choose the particular recipient of the money, your payment information, and your card information, then send the money. Paying for an item with Paypal is very simple. If a merchant, for instance, accepts Paypal for payments, their page's shopping cart will link with Paypal, through which you can send your payments. 

To receive money, just tell the sender of the money to send it to your Paypal account. When you receive the money, Paypal then emails you, and you can then check your balance to ensure that the money was indeed deposited into your Paypal account.

Fees

Paypal does not charge fees to send money in purchases using your Paypal balance or your balance along with your debit/credit card, but in other situations, they do charge fees for some transactions. Therefore, be sure to look at Paypal's fee schedule to determine if the transaction that you are about to initiate will face fees from Paypal. 

Withdrawals

To withdraw the funds in your Paypal account, you have three choices. First, you can choose to have a paper check mailed to you, with a fee of $1.50. Also, you can order a automatic bank transfer, which is free. Funds will be sent to your bank account, linked with your Paypal account. Finally, you can obtain a Paypal debit card, which allows you to spend your Paypal balance at stores, just like other debit cards. Instead of your card linking to your savings/checking accounts, the Paypal card links to your Paypal account. For all of these withdrawal options, it takes at least a few days to process these requests, so be sure to budget your time in this manner.

These tips should be able to help you succeed in utilizing Paypal to your greatest advantage.