The internet has certainly made making payments much easier over the past few years. While many of us still use the banks whenever it comes to payments and transfers, there are easier ways online. These ways of sending and receiving money online have greatly benefited businesses throughout the world, and are being used more and more often by people themselves. Of course, naturally, when it comes to sending and receiving money, people can be rightfully skeptical. Everybody needs a solid service which can provide all the necessary functions without putting anybody’s finances in jeopardy. So, where does one go to when this is the case? One particular website that has welcomed millions of people is PayPal. We have all heard of PayPal, but not all of us may have used it. So, is it really worth using?
That’s what we at Filmbiz are here to investigate today. PayPal is without a doubt one of the most popular eCommerce websites in the world (and in fact one of the most popular websites in the world in general). So how has it attracted so much attention and what makes it so great, it is great at all?
PayPal Review: A Look At This Money Sending and Payment Site
PayPal began back in 1998 under the name Confinity. At its head was an unknown man by the name of Elon Musk. Today, Musk is just behind main man Bill Gates in terms of net worth. As a multi-billionaire, Musk is constantly looking out for the best ways in which to improve his company. In fact, PayPal brings in just under half of eBay’s total earnings. All this is due to just how popular the service is, and it may very well be the most popular and successful online banking service out there on the net. The overall premise of PayPal is very straight forward. With a PayPal account, you can receive and send money within quick time. Such activity within your standard bank will take on average a few days. With PayPal, however, these actions take only a matter of minutes to complete.
Sounds good? Well, it you don’t already use PayPal but you are interested and could potentially use it in the future, the following review will outline all the features and the important information you need to know when using it. Hopefully, PayPal can benefit you, or alternatively, warn you of the damage it could potentially do to your finances. Either way, let our review help you to decide.
Do I Have To Sign Up In Order To Use This Service?
Yes, you must sign up in order to use the full services. Signing up to PayPal can seem like a long process, but once everything is set up, you can begin reaping the benefits. Signing up to the service is free, and there are a few steps which you will need to take. You will need to provide personal information, from your full name to your address, and also enter your card and bank details. Don’t be suspicious about the request for card and bank details. This is asked from you in order to set up future payments. By giving your bank and card details, you can then fully receive and send money, without your bank being suspicious of any activity.
How Much Does PayPal Cost To Use?
As mentioned above, it is free to sign up to this service. As for fees for using the PayPal service, there are none. PayPal is completely free to use, which is probably why it attracts so many users.
How Do I Transfer Money Into My Bank Account and How Long Will It Take?
When you receive money from an employer, friend, etc., you will see the money in your account. This transfer may take a few minutes. Once the sum appears in your account, you can then select ‘Withdraw money’. Please make sure that you have already connected your bank account to your PayPal account. If your account is connected, this action cannot be completed. Following the selection of ‘Withdraw money’, you will then choose which bank account you want to withdraw the money into. Select the bank account, and then enter the amount you want to transfer. Once complete, there’s nothing more to do than to complete the action.
Once complete, it may take as long as a few minutes to a few hours for the transaction to go through. Depending on your bank and other circumstances, some accounts may take longer than others to complete withdrawal transactions. Personally, my transactions take only around 20 minutes to go through.
Are There Any Negative Aspects Regarding PayPal?
Please be aware that PayPal take a small sum of your transactions for service fees. The for each transaction is 2.9% plus $0.30 USD of the amount you receive. This is non negotiable and cannot be avoided.
Another thing to be aware of is the annual earnings limits. You cannot receive more than 2,500 euro within a year – you must modify or lift these limits if it should occur. To lift these mandatory limits, you must select ‘view your account limits’ and then proceed to eliminate these limits. PayPal will ask for a range of identification in order to complete this action.
Can I Transfer Money and How Long Will It Take?
You can ‘Add money’, if your bank account is linked, and then send money by entering the recipient’s email address. You can do this by selecting ‘pay or send money’ at the top of the page. Depending on your bank and your recipient’s circumstances, it may take longer. Normally, PayPal transactions are quick and shouldn’t take longer than a few hours.
Is PayPal Safe To Use?
PayPal is popularly used mainly due to how secure it is. You will find when using it that this service carries out many safety procedures, requesting many details and identification documents. So, in sum, yes, it is very safe.
Besides the fees and the limits (which can be lifted), PayPal is ultimately both very safe and efficient, as well as free, which gives you no real reason not to try it out.