How to Use PayPal, Benefits and Setup

PayPal is a trusted and popular online wallet which is used to send and receive money. PayPal is quite easy to use once you have made up an account. An account can be easily set up by entering the information that they have asked for and then creating a password. You can receive the money from the family members, friends or clients and you can also spend money on the account.

CREATING AN PAYPAL ACCOUNT

• For creating an account on PayPal, go to the website and click “Sign up”. The “sign up” is present on the upper right-hand corner of the website’s screen.

• The next thing that PayPal asks for is whether you want a business account or personal account. The personal account is for exchanging money with family members and friends and for online shopping. Whereas, a business account is the best option if transferring money is for professional services.

• Now, you have to set up the email and password. Use an email address that you use and create a strong password to secure the account as you give sensitive information to PayPal.

• After the password has been set, give the basic information.

• After the above step, you just have to connect a bank account or credit card with the PayPal account so that the funds can be transferred easily. And your account is ready to use.

RECEIVING MONEY

• If you want the people to send you money via this app, you just have to give them the email address that you have used in the account.

• You can also send requests through PayPal for money. Just click “tools” and then “request money” and just enter the amount you want to receive, email address or phone number of the one person you are requesting the money from. Click “request money”.

• You can invoice your work hours using PayPal if you are into freelance work. Once you click “request money”, you can select “invoice” from the menu. Fill the form then and the details like rate, hours, total amount.

• If you are selling things online, you can connect PayPal with them as PayPal is accepted at many sites. Because of this, the money of the purchase will directly be transferred to your account.

SPENDING MONEY

• Doesn’t matter if your account is empty, you can draw money from the bank so that you can make payments. For having the money in PayPal account, click “transfer money” after logging into your account and the money can be transferred to the PayPal account from the bank account that is linked to it.

• You can send money to others by clicking “transfer money” and then entering the amount and email address of the person. Be sure that the email address is correct.

• There are sites that have the option “pay with PayPal” when you are checking out. You can use it and purchase using PayPal.

• When you get the money in PayPal account, you can withdraw it by hitting the “transfer” button and transferring it into the bank account that is associated with it. It can take one day, though.

• If you are a frequent PayPal user, you can request for PayPal debit card and it works totally like the regular one but the money is taken from PayPal account. It is accepted almost everywhere where the cards are taken.