by Moin Uddin Ahmed Tipu | January 4, 2013 9:41 PM
PayPal is one of the world’s biggest online money transfer services. It is also one of the most trusted. There are several things you can do with a PayPal account:
You Can Receive Funds From Personal Acquaintances Using PayPal
This makes PayPal unlike several other online payments services, where you can only transfer funds in the business context. This is to say that there are other online payment services where you need to have a vendor-client or vendor-customer relationship with someone, before you can exchange funds. With PayPal, you can transfer funds to pretty much anybody else who has an email address. You can also receive funds from anyone else. You don’t have to be people involved in some sort of business transactions. You can transfer funds on the basis of personal acquaintance.
You Can Receive Funds From Clients/Customers Using PayPal
In other words, you can use PayPal as a payment solution within the e-commerce context. Indeed, many people use it in this way. Integrating a website with PayPal is very easy, and in most places, withdrawing the funds in your PayPal account is even easier.
You Can Send Money To Personal Acquaintances Using PayPal
The personal acquaintance can be a relative, a friend, a colleague at work or anybody else. You don’t need to be involved in some sort of business, to be allowed to transfer funds. The funds transfer can be on the basis of personal acquaintance.
You Can Pay For Products And Services Using PayPal
As noted earlier, PayPal is one of the most widely supported e-commerce payment solutions.
You Can Donate To a Worthy Cause
Many charities and other entities involved in ‘worthy causes’ accept donations through PayPal.
There are several advantages associated with using PayPal as a money transfer service. Those include the facts that:
It Is Very Cost-Effective: The cost structure ensures that you don’t spend a sizeable percentage of the funds you want to pass along on transfer fees. In fact, in most cases, you don’t even ‘feel’ the pinch of the transaction costs.
It Works Flawlessly (Most Of The Time): Everything from depositing funds to using funds to pay for stuff and on to withdrawing funds tends to work like clockwork.
It Is Well Trusted: You can be sure that people won’t have trust issues when dealing with PayPal, unlike other smaller payment systems, with respect to which people tend to have high levels of skepticism.
It Is Convenient: Thanks to PayPal, you can transfer funds from the comfort of your desk, without having to visit a banking hall or some other such establishment.
To be in a position to use PayPal to transfer funds, you need to do several things, including:
Signing Up For a PayPal Account: This is just a matter of filling in a simple form.
Attaching a Bank Account Or Debit/Credit Card To Your PayPal Account: This is just a question of entering the account number or debit/credit card number into the PayPal system.
Verifying The Bank Account or Debit/Credit Card: This is just a question of picking the card/bank account statement, noting a verification amount (withdrawn and then deposited back by PayPal), and entering this into the PayPal system.
Once you do that, you are allowed to use your PayPal account to make (and receive) reasonably huge funds transfers.
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