PayPal is a online payment system that allows you to pay, send and receive payments online.
Why is PayPal necessary?
PayPal makes it safer and creates a hassle free way for customers to make purchases online without having to repeatedly enter their credit/debit card information on each website they purchase items or services on.
Business users can also register for a business PayPal account that provides very useful e-commerce tools. These tools can help you to sell and receive payments on a website, track the items being sold to see what is sold the most/least. PayPal tools also provide invoices and merchant IDs for all registered business accounts.
Once you sign up for a PayPal account you will have the option to register for a personal account or business account. PayPal gives customers the opportunity to link credit cards and also a U.S checking bank account.
Now that you have linked a card or bank account you can begin to make purchases online and also send and receive money from other PayPal accounts for personal accounts. Sellers can now optimize their business accounts by requesting that their customers pay for items on their website via PayPal.
How to withdraw money from PayPal?
To withdraw money from you PayPal is very simple.
PayPal users who reside in the United States can withdraw money from their PayPal account at any time by the following ways :
-Requesting a direct deposit to your local bank account by going to Wallet and selecting Click Withdraw near the top of the page. Click Transfer money to your bank account. Enter the amount you want to withdraw. Select the bank account you want to credit, then click Continue. This is the most popular option as the request is process immediately and PayPal will securely transfer the money to your linked bank account. The money will arrive in your bank account within 3-4 business days. Ensure that the name on the PayPal account is the same as name on the bank account.
-U.S. PayPal users can also apply for a free PayPal Debit MasterCard®. If the PayPal user qualify they can use their PayPal Debit Mastercard® at most ATM’s to get cash from their PayPal account right away by selecting their Checking Account when using their card at the ATM. PayPal account users can also use their PayPal Debit MasterCard® to make purchases anywhere MasterCard is accepted. PayPal customers can withdraw up to $400.00 USD from their PayPal account from an ATM each day. Additional ATM fees associated with cash withdrawal and foreign payments may apply.
PayPal users with a PayPal Debit MasterCard® may also qualify for many additional rewards such cash back on purchases.
-requesting a personal cheque to be sent via U.S. mail to you address from PayPal. It take 1-2 weeks for the cheque to arrive in the U.S.
PayPal doesn’t give customers the option to transfer money to a debit card,prepaid or credit card.
PayPal users without a U.S. bank account can withdraw money from their PayPal account by requesting a cheque from PayPal by logging in to their PayPal account, click Withdraw at the top of the page and select Request a check.
PayPal will apply a fee of $1.50 USD for each cheque. However, a minimum balance of $150 USD has to be in the PayPal account for the cheque to be processed. It may take up to 6 weeks for customers outside of the U.S. Once that cheque is received it can then be lodged to your bank account and encashed in 30 days.
PayPal provides additional security features using Secure Payments by PayPal
Kimankh is a E-commerce Website Developer and a Social Media Content Manager. Specialized Areas: Article Writing (SEO) and Online Reputation Management.
Kimankh is a naturalist who is powered by Black consciousness. When Kimankh isn’t busy creating beautiful online stores she enjoys researching and conducting experiments on various plants and herbs. Currently enrolled in a Master Gardener Online Short Course in Botany at Oregon State University.