PayPal

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PayPal is an online account that holds real money. Money in your Paypal account can be transferred very easily to a bank account of your choice. Paypal is completely secure. It's like a bank account (it doesn't count as such because it doesn't really belong to any bank, but it acts like one) that you can use to make purchases online very easily. Small jobs done online are usually paid directly to your paypal account.
You can create your PayPal account very simply by going to http://www.Paypal.com and entering your details. It will be more difficult to link your bank account to your Paypal so that you can transfer money from Paypal to your bank account with the click of a button. To do this you will need to perform the following steps:

  1. Log in to your Paypal account and click: "Add bank account"
  2. Enter your bank account details (it is completely safe to do so)
  3. Paypal will transfer two amounts of money (it can be 2 cents, etc.) to your bank account within a couple of days.
  4. You will have to enter the two money transfers made by Paypal in your Paypal account by selecting: "Confirm account"
  5. Your bank account has been verified.
Facts about Paypal you should know
  • Until you confirm your bank account, it may be problematic to transfer money from paypal to your bank account and vice versa.
  • This is the most used online account in the world.
  • When transferring money from one Paypal account to another Paypal account, you will have to pay considerable commission fees.
  • There is no commission fee when transferring money from Paypal to your bank account.
  • If you have your business online and you don't have Paypal, you are missing out on an important amount of customers
  • It takes 2 days for paypal to send the money to your selected bank account.