PayPal is a recognized online payment system. However, do you know how it works and everything you can do with a PayPal account? In this guide we explain how to create a PayPal account, how to send or request money and all the fees you will have (or not) to pay.
1. How to create a PayPal account
Obviously, to use this payment service on-line The first thing you will have to do is create a PayPal account. To do this, go to your Official website by clicking on this link.
Then, go to the Create an account section in the upper right corner of the screen, and follow all the instructions that will appear later.
In case you need it, there is also the option to create a special business account, but if this is not the case, you can simply choose to create a personal account like most users.
The personal account (in which we focus on this article) allows you to make purchases on-line, send money, receive money and some other function that you may not know.
2. Add a bank account or card to PayPal
In order to make full use of your PayPal account you will have to link it to your bank account or your card. Without this you will not be able to make payments or send money.
If you did not add your bank account during the process of creating your PayPal account, you can still do so if you go to the My Wallet tab and click on the option of Add a bank account or Add card.
If you add several accounts or cards you can easily choose which card you want to use in each transaction.
3. How to send money with PayPal
If you are shopping online and want to use PayPal to pay, simply select this option on the website of the store where you are shopping.
This option will appear normally just when you go to make the purchase and you are asked for the method of payment. That is where you will have to choose the PayPal option.
There are many ways to send money, to do so from PayPal you will have to select the top Send tab and request money.
You can make payments for products and services or pay someone in Spain or abroad using an email address, a telephone number or a name.
Choose the option you want and follow the instructions. Keep in mind that the other person also needs to have a PayPal account in order to receive your payment. In case you don't have it you will have to create one.
PayPal even gives you the option of sending money as a gift, along with a digital greeting card.
4. How to request money with PayPal
Applying for money in PayPal is also a simple task. To do this, return to the Send tab and request money at the top to see the available options.
You can ask anyone for money through their email address or phone number. You can also create an invoice if necessary.
Another of the most recent options is to create a PayPal.Me link. This link can be sent to anyone and the person, when you open the link, can choose how much money to pay you.
5. How to withdraw money from PayPal
If they sent you money through PayPal, this will appear in your account. If it doesn't appear by default, click on the Summary tab and you can check your PayPal balance and see your recent transactions.
Withdrawing money from PayPal is easy, all you have to do is click on the option Withdraw money left where your balance appears and follow the instructions that will appear. You can withdraw everything you want and send it to the bank account you want.
You can also add money to your PayPal account in case you need to recharge it to pay someone. Simply click on Add money, option that also appears below the number of your balance.
6. PayPal fees
Although it is free to have a PayPal account and use it to buy or send money to other people, it is obvious that the company has to profit in some way.
Surely you are wondering: I am charged a commission to receive money through PayPal ?. The answer is not simple.
For simple transactions no extra charge will be charged, as long as the transaction funds are in your PayPal balance, in your bank account or debit card.
However, if you use a credit card to send money, you will be charged 3.4 percent of the amount in addition to a penny for the procedure.
Something similar happens if, for example, you sell something on eBay and receive a payment in your PayPal account. Selling a product for 100 means you will receive 96.40 (and don't forget that you will also have to pay a commission to eBay for that sale as well).
7. PayPal App
A bank company on-line modern will not be so modern if it did not have an application available for Android Y for iOS.
The PayPal application has all the tools that the website has, and for many it will become an even easier way to access their funds and make transactions.
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