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LoadingSomething is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. You might know PayPal as a secure way to pay for purchases online, but it's also a secure way to exchange money. "Exchanging money" sounds very serious, but it's a useful service for day-to-day transactions like paying your part of a group dinner at a restaurant, giving your teenager some cash to see a movie, or even paying the babysitter (provided they agree!). PayPal is encrypted for security, and provides constant transaction monitoring to watch out for fraud. To send money through PayPal, both parties — that is, you and the person you're sending money to, or requesting money from — will need to have PayPal accounts, which are free and easy to set up through the PayPal website. In order to send or receive money through the PayPal system, you'll need to follow a few simple steps. How to send money on PayPal1. Visit PayPal.com to set up an account. 2. Click 'Sign Up' in the upper-right-hand corner to be directed to the account creation page. From there, you'll need to pick from a personal or business account. 3. Create your account, including picking out a password and linking your PayPal account to your checking account or credit cards. Once you create your account, you'll be sent to the homepage. Click "Send & Request" from the top menu bar to send money to someone (or request it). PayPal4. Click "Send & Request" from the top menu bar to send money to someone (or request it). 5. Type in the name, email address or phone number of the person you wish to send money to. Keep in mind that in order for a PayPal transaction to occur, the person you want to send cash to needs to have a PayPal account, as well. Type in the name, email address or phone number of the person you wish to send money to. PayPal6. Type the amount you wish to send in the first box, and pick from sending to a friend (which is free to use your bank or current PayPal balance to send to family or friends in the U.S.) or click "Change" to pay for an item or service (in which case the seller would pay a fee). You can also add a note in the "add note" section, if you'd like. Click continue after filling in all of your information. Type the amount you wish to send in the first box. PayPal7. Your next step will be the "How do you want to pay?" screen. You can pick from a linked checking account (which is free), or a credit card, which will come with a fee. You can also add new accounts on this page as needed. When you've picked your payment method, click next. 8. A confirmation page will appear with your fee, who you're sending payment to and how you're sending it. Click "send payment now" to have PayPal send the money to your contact's PayPal account. 9. You will receive an email from the account with the information regarding your transaction. Keep this email in case you need it for any future reference. Related coverage from How to Do Everything: Money:How to invest in a 401(k) for retirementHow to open an IRA to save for retirementHow to get a loanHow to calculate your debt-to-income ratio
Cheryl Lock is a personal-finance writer whose work has appeared in Woman's Day and Parents as well as online at USA Today, Forbes, and MarketWatch. She lives in Denver with her husband and two daughters. Follow her on Twitter at @CMLock42 and on LinkedIn. Read more Read less In a world where digital payments are becoming the norm, it is very important to know how to use PayPal. Fortunately, the process of signing up to PayPal and making and receiving payments is fairly straightforward.
How Does PayPal Work and How Do You Get Your Money?PayPal is an online financial service that allows you to send and receive money using a secure internet account. You simply add your bank account, credit card, or debit card details, and your bank account is linked to your PayPal account. Whenever you pay using PayPal, the money will come out of your linked account. And whenever someone sends you money on Paypal, money received sits in your PayPal account. Money in your PayPal account can be used when paying for something or transferred into your bank account. How to Use PayPal: Step By StepUsing PayPal is easy. Here is a step by step guide for how to use PayPal:
How Do I Pay Someone Using PayPalA big part of knowing how to use PayPal is knowing how to pay someone using PayPal. If you have no money in your PayPal wallet, you can still pay someone using PayPal. PayPal will just draw money from your bank account to make these payments. Some people prefer to have money in their PayPal account itself. To put money in your PayPal account, log onto your account and then click “Transfer Money.” You can then transfer money to your PayPal account through the bank account linked to your account If you want to pay someone, it’s easy to send it via PayPal. Click the “Transfer Money” option. Enter the amount and the e-mail address of the person who’s receiving the money. Then, hit “Send.” Make sure you use the correct email address for the receiver. The e-mail address you use should be the e-mail the other person uses for PayPal. What Are the Disadvantages of PayPal?PayPal can be very useful when receiving money from strangers. Using PayPal means you do not share any of your bank details with the seller – the only information they get is from PayPal. Payments are instant so there is no more waiting for goods to be dispatched once a cheque has cleared banking. However, PayPal also has a few disadvantages. One of the disadvantages is that PayPal charges high fees for non-PayPal payments. If both parties don’t have PayPal accounts, the fees can range from 1.9% to 2.9% plus $0.30 per transaction which can get very costly. PayPal also automatically offers PayPal Buyer Protection which means you can make a claim to get your money back if goods you’ve paid for don’t turn up or they’re not as the seller described when they arrive. The disadvantage is that if you enter into a dispute with someone and payment was handled by PayPal they will take over the arbitration process which can take a very long time. Does PayPal Require a Bank Account?You don’t need a bank account to sign up for PayPal or to receive payments. What if I Don’t Have a Bank Account for PayPal?If you don’t have a bank account for PayPal, you can still create a PayPal account and receive payments. Any payments that are made into your PayPal account stay in your PayPal wallet. You can use this money to make payments from your PayPal account. However, without a bank account, you can’t transfer money out of your PayPal account. How Can I Use PayPal Without a Card?You can give your PayPal account details to anyone who needs to pay you money. Once there is money in your PayPal account, you can use PayPal to make purchases online whenever you see their logo. All you need to do is enter your email address and password to make a payment. PayPal FAQHere are some of the most frequently asked questions around how to use PayPal: Is There a Monthly Fee for PayPal?It’s free to open a PayPal account. There is also no monthly fee for holding a PayPal account. PayPal charges a transaction fee to the seller of an item, but not the buyer. There are also fees charged for currency conversion. How Do I Find Someone’s PayPal Account?There are no official tools available to look up someone’s PayPal account. If you previously sent money or accepted a payment from the user in the past, you can find their PayPal account by looking at your transaction history. To make a payment, you need to have the recipient’s email address or mobile phone number. This information has to be correct and has to be the email address or mobile phone number linked to their PayPal account. Can You Pay Someone on PayPal Without an Account?To pay someone through PayPal without having an account registered, your recipient needs to send you a special PayPal invoice. Read More
Final ThoughtsIt is easy to learn how to use PayPal. You just need to sign up and add all of your details, and you’re ready to go! When shopping online, you can use PayPal whenever you see their logo. You can make payments to others using their PayPal email address. You can set up your business account so that payments go directly into your PayPal account. You can even transfer money from your PayPal account into your linked bank account. Need a Loan? Get One in 3 Simple StepsIf you are considering applying for a personal loan, just follow these 3 simple steps. ApplyApply online for the loan amount you need. Submit the required documentation and provide your best possible application. Stronger applications get better loan offers. AcceptIf your application meets the eligibility criteria, the lender will contact you with regard to your application. Provide any additional information if required. Soon you’ll have your loan offer. Some lenders send a promissory note with your loan offer. Sign and return that note if you wish to accept the loan offer. RepayThe loan then gets disbursed into your U.S. bank account within a reasonable number of days (some lenders will be as quick as 2-3 business days). Now you need to set up your repayment method. You can choose an autopay method online to help you pay on time every month.
About StiltStilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a better financial future. We take a holistic underwriting approach to determine your interest rates and make sure you get the lowest rate possible. Learn what others are saying about us on Google, Yelp, and Facebook or visit us at https://www.stilt.com. If you have any questions, send us an email at [email protected] Frank GogolI’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more. |