USING PAYPAL: A BASIC GUIDE FOR BEGINNERS
Setting up a PayPal account is quick and easy. You can link a bank account or credit card in a few steps.
What is PayPal?
PayPal is one of the best online payment processing systems. It lets you send and receive money online. No need to remember any confusing account number. You only need your email ID and password to log-in. You can add up to eight email IDs in a single account. This is helpful if you want to hide your identity during payment or receiving money. Identity verification is one of the requirements of PayPal. You can verify your details by adding a credit card or bank account to your PayPal account. This makes a transaction legitimate and legal.
Are there any fees?
Unlike other online payment platforms, PayPal is very affordable. There is no fee to make a PayPal account.
Sending money as a personal payment using a debit credit card has a minimal fee. The fee in the US is 2.9% of the amount you send plus an extra USD 0.30.
Goods and services
There is no fee when using PayPal to buy goods and services. There is only a fee for receiving money from selling goods and services. The fee for each transaction is 2.9% of the amount you receive plus USD 0.30 more.
How to set up a PayPal account?
Follow the simple steps below to create a PayPal account.
- Visit the PayPal website. You can also download and use the PayPal app. The process for creating an account is the same for both the website and the app.
- Click the button that says “Sign Up for Free” or “Sign Up.” There are two options for business accounts. Each has a different cost structure and benefits. Standard accounts are free but check-outs must route through PayPal. Pro accounts cost 30 USD per month. Users of pro best accounts get full control of their checkout process.
- Input your email address. Type in your chosen password twice. Make sure to select a strong password for more security. Enter a valid email address. You will need to access it to verify your PayPal account.
- Enter your personal information in the form. Make sure to put your legal name, address, and contact number.
- This next step is optional. You can enter your credit or debit card information. You can also choose to do it later. PayPal account verification will ask you to add one at some point.
- This is also an optional step. You can link your bank account by entering the necessary information. You can also choose to do this later.
After the creation process, you should verify your account. Check your email for a message on activating your PayPal account.