Transferring Money Using Paypal

Transferring funds via Paypal

PayPal is one of the best online payment services that provides business and individuals to transfer money even abroad electronically. It is very easy or primary even the safest and secure method of online payment. You can use PayPal for many purposes such as buying or selling of goods and services, to make or receive donations, to send or get payments for online auctions for websites such as eBay and many more.

There are few easy steps to transfer money using PayPal:

  1. Open PayPal App and Click on Log in to your PayPal Account and click on the option as ‘Send Payment’.
  2. Type your email address or mobile number of that person to whom you want to send money via PayPal:
  • Do check that you have entered correct email address or mobile number before sending money, so that you do not send your money to the wrong person.
  • Tap on the field rather than typing the information again if you have already sent money to this person previously. While clicking on that field there will appear a scroll down list which shows each person you have just sent money to.
  1. Then just below that field enter the amount of money that you want to send to another person or company and after that use the scroll down list to choose your currency of payment because recently in 2017, PayPal is doing its business in over more than 200 counties and proffer 20 currency choices.
  2. After entering the amount, select the purpose of the payment either click on “Purchase” or “Personal”, depending up on payment you want to opt for ( you can follow the same procedure while transferring money to your friends and family) and select following option:
  • The options are Goods or Services or eBay auction under purchase tab.
  • Personal comprise of rental payment, gifts, payment, shared expenses and others.
  1. Afterwards click Continue button and wait for the payment page to load.
  • You must read out all the payment details and ensure that there are no mistakes in the payment amount and other details.
  • If you already have the sufficient amount in you PayPal then it will easily cover the payment and automatically your money comes out of your PayPal account.
  1. In case the amount of payment you have to make is more than you PayPal balance in you a/c then PayPal will relate the balance towards the payment and take the rest money from whichever account is linked to your PayPal account for funding.
  2. You may tap on the review page and directly select the option direct of your funding source either through credit or debit card, or other account from which PayPal can withdraw money.
  3. Last step is to click to the send payment option at the bottom of the page and make sure all details you have typed are correct.

Transferring money to your bank a/c by phone or tablet using PayPal:

Firstly, log in to your PayPal account via PayPal App and type your Email address and password and in case PayPal accepts you Touch ID you can scan your fingerprint to open it (Security). After entering to your PayPal account click on ‘Manage Balance’ button on the top of the screen then your current PayPal balance show here. Subsequently, at the bottom right side click on to ‘Transfer to Bank option’ (Note – that you cannot transfer money if your balance is less than $1). Then type the amount you want to withdraw and click on ‘next’ button and tap withdraw at the bottom of the PayPal page.

Benefits of using PayPal:

  1. Security:

PayPal includes the finger print scanner and when you log in to your PayPal account you choose in the credit cards and bank accounts you want to use for purchases one time on the PayPal secure system and when it is done you never again have to write up your credit card information online. Thus, it is the safe and secure online payment method.

  1. No cost:

One of the biggest advantage is that PayPal does not consists of any cost such as membership, service fees etc. It is free of cost.

  1. Auctions:

PayPal include the online auction where you can make a bid and do purchases safely and securely on the site such as EBay.

  1. Various offers:

PayPal offers special discounts for member customers as well as the customers who shop with PayPal at selected retailers. Customers may find discounts and coupons on shopping site of PayPal for the companies such as HP, Wal-Mart, Nike, and many more. Whatever you have saved in PayPal you can copy the promo code of that while shopping via PayPal shopping page.

Recently, Paypal has decided to launch its own online market and has chosen India as the first country for it. It will now be competing to the likes of Amazon, Softbank’s Paytm and other giants in the same category.

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