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PayPal is the most popular Internet solution for transferring money online.

PayPal is an online financial middleman that facilitates the transfer of money between people and businesses online. Users only need to share private financial information with PayPal, not unknown parties. You can use PayPal to buy things online, or receive money from other people.


This guide takes you through all the steps needed to get started, and then to make full use of PayPal services.


First we’ll look at the different types of PayPal account – Personal, Premier and Business – and which one is best for your needs. Then we’ll proceed on to how to create an account from scratch.


A PayPal account can receive money as soon as it’s been created, but to use it to send money or to buy products online, you’ll probably want to also set up a means of getting funds into the account. Normally to do that people will link their PayPal account to an existing bank account, or to a credit or debit card. We’ll go through that process, and the means by which PayPal makes sure that you are the true owner of the account. After you’ve completed those steps, you’re all set to send or receive money, and to buy and sell online.

Create a PayPal Account

Creating a PayPal account is very easy. You just need an email address to get started.

1. First, go to Paypal's home page www.paypal.com and choose "Sign Up Now!"4

2. Select the country where you live and choose a language preference.

Now you need to choose a type of PayPal account. PayPal offers three account types. When choosing between them, consider what you're going to use PayPal for.

Types of PayPal Accounts

1. Review the types of PayPal accounts: Personal, Premier, and Business.5

o Remember, it costs nothing to send money via PayPal, but some accounts charge fees to receive money. The exact fees vary with the type of account.

 

Personal accounts:

Pros: No transaction fees on payments received via PayPal Balance, PayPal Instant Transfer, or PayPal eCheck.

Cons: Can only receive a limited number of credit card payments; limited customer support (no toll-free number and long wait times); $500 per month limit on receiving money.

Ideal User: Online shoppers who do not spend large sums of money.

 


Premier accounts:

Pros: Toll-free customer service number; can accept unlimited credit card payments; eligible to apply for PayPal ATM/Debit Card, which allows direct access to your PayPal account instead of waiting for funds to transfer to your bank account.

Cons: Transaction fees to receive payments via PayPal.

Ideal User: Individual online sellers.

 

Business accounts:

Pros: Same as Premier; ability to have multiple users access same account; can operate under business name.

Cons: Same as Premier.

Ideal User: Business owners.

2. If you have an idea about the amount of money you'll be handling on PayPal, use the PayPal Fee Calculator to see what fees you'll pay for each type of account.

3. If you're not sure what account to choose, start with a Personal account. It's free to upgrade to a new account later if you feel you made the wrong choice.

4. Some PayPal users find it useful to have two PayPal accounts: a personal one for accepting payments, without paying fees, and a separate business account.6

5. You will need a separate email address for each account.

· Create Your PayPal Account

1. Once you've chosen the right account for your needs, click on the appropriate account button.
2. Fill in the requested information. Choose a password that others won't easily guess!
3. Read the user agreement, then click to create your account.
4. You'll receive a confirmation email from PayPal. Click on the link in the email.
5. Sign into your account with the password you just set up. Now you're ready to go!

·

Set Up Your PayPal Account
You can receive money immediately once you've created an account. You need to give PayPal a source for funds before you can shop online or send money to anyone. You can also set up PayPal so you can use it with your mobile phone, and you can verify your account if you want to spend more money than the initial PayPal spending limit

Use PayPal to Send Money
PayPal lets you shop online, as well as send money to anyone with an email address.

Send Money with PayPal
1. To send money directly to someone, login to your PayPal account and click the Send Money tab.
2. Enter the email address or phone number of the recipient, the amount you want to send, and the currency you want to use.
3. Mark what the money is for, and then click Continue.
4. Review your payment information, and then confirm the transfer.
·
Buy Online with PayPal
0. Many online businesses also accept PayPal. To use PayPal on these sites, choose PayPal as your payment option when you go to check out.
1. As with eBay purchases, you will be directed to the PayPal website; log in to your account.
2. After deciding how you will fund the purchase, click the Pay button.
PayPal also offers customers a one time credit card number that allows you to make purchases on sites that do not accept PayPal.