PayPal is a well-known online payment system. Still, do you know how it works and what you can do with a PayPal account? Do you know how to open a PayPal account? In this guide we explain how to open a PayPal account, how to send or request money and all the fees you will have to pay (or not have to pay).
1. How to open a PayPal account
Obviously, to use this payment service online The first thing you will need to do is create a PayPal account. To do this, contact your own official website by clicking on this link.
Next, go to the ‘Create an account' section in the top right corner of the screen, and follow all the instructions that will appear after that.
If you need it, there is also the option to create a special business account, but if not, you can simply choose to create a personal account like most users.
The personal account (which we focus on in this article) allows you to make purchases online, send money, earn money and other work you may not know.
2. Add a bank account or card to PayPal
To make full use of your PayPal account you will need to link it to your bank account or card. Without this you will not be able to make payments or send money.
If you did not add your bank account during the PayPal account creation process, you can still do so by going to the ‘My Wallet' tab and clicking on the ‘Add a bank account' or ‘Insert card' option.
If you enter multiple accounts or cards, you can easily select which card you want to use for each transaction.
3. How to send money via PayPal
If you shop online and want to use PayPal to pay, simply select this option on the store's website where you shop.
This option will usually appear when you make a purchase and you are asked for a payment method. This is where you will need to select the ‘PayPal' option.
There are many ways to send money, to do it from PayPal you will have to select the top ‘Home and ask for money' tab.
You can make payments for products or services or pay someone in Spain or abroad using an email address, phone number or name.
Select the option you want and follow the instructions. Please note that someone else will also need to have a PayPal account to receive your payment. If you do not have one you will need to make one.
PayPal also gives you the option to send money as a gift, as well as a digital greeting postcard.
4. How to Apply for PayPal
Applying for money on PayPal is also a very simple task. To do this, go back to the ‘Send and request money' tab above to see the options available.
You can ask for money from anyone by using their email address or phone number. You can create an invoice if necessary.
One of the most recent options is to create a PayPal.Me link. This link can be sent to anyone and anyone, if you open the link, can choose how much they should pay you.
5. How to withdraw money from PayPal
If they were sending you money via PayPal, this will appear in your account. If it does not appear automatically, click on the ‘Summary' tab and you will be able to check your PayPal balance and view recent updates.
Withdrawing from PayPal is easy, all you have to do is click on the ‘Withdrawal' option on the left where your balance appears and follow the instructions that will appear. You can take 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 withdraw it to pay someone. Just click on ‘Add to Money', an option that will appear again under your remaining number.
6. PayPal Money
While it is free to have a PayPal account and use it to buy or send money to other people, it is clear that the company should make some profit.
You may be wondering: “Am I being charged a commission when I receive money through PayPal?”. The answer is not easy.
For simple transactions, no additional fees will be charged, as long as the purchase fee is in your PayPal balance, in your bank account or bank card.
However, if you use a credit card to send money, you will be charged 3.4 percent of this amount in excess of one penny of the process.
The same thing happens when, for example, you sell something on eBay and you receive a payment on your PayPal account. Selling a product for € 100 means you will get € 96.40 (and don't forget that you will also have to pay a commission on eBay for that sale).
7. The PayPal app
Banking company online modern ones would not be so modern if they did not have the app available for Android and for iOS.
The PayPal app has all the tools a website has, and for many it will be an easy way to earn their money and perform tasks.