Transferring money online is a simple way to make payments for items online, pay bills, or send money to friends and family out of town. This is a guide of how to transfer money from Paypal to bank accounts. Paypal is the leader in the Global money transfer market. The company offers their service in many countries and types of currencies.
1. Creating an Account
Creating a Paypal account is a free service and is a simple easy to do process. Paypal offers personal and business accounts. A person’s email address serves as their username and a password is created by the user to keep their account safe and protected.
After an account is created the customer will have to activate their account by checking their email and clicking on a link. This step is done as a safety measure by Paypal to make sure that the account being created is by a real person.
2. Adding a Bank Account or Debit Card
Users of Paypal can use a bank account, debit card, or credit card to send money or pay bills online. Users may add more than one type of account which is a good idea if the account will be actively used because then it allows the money to be sent from different accounts.
3. Sending Money
Users of Paypal are free to send money as long as they have an email address and a form of payment. Paypal account holders are not charged a fee to transfer money but the fee occurs rather at the receiving end. Sending money to someone in a different country does have a fee to the account holder.
4. Receiving Money
A person who received money from another through Paypal is charged a receiving fee. This fee is usually $.30 with an additional 1.9-2.9% of the transaction amount. Paypal is the most common type of payment on Ebay and has been for years even since before Ebay bought Paypal in 2002
Paypal insures all purchases up to $1000 and is similar in a bank in offering protection against identity theft. Over 90 million people around the world trust and use Paypal and consumers who are not familiar with the site should consider giving it a try as a payment method.
Paypal can be used by people selling items on Ebay and Craigslist. Anyone who owns a website can also use Paypal to accept payment for goods and services offered online. Paypal can also be used for fundraisers as charities and non-profit organizations can seek funding by accepting donations online.