Using PayPal can get you a whole lot of advantages if you have a business online or do transactions regularly. PayPal is operating in 200 countries, with over 325 million active users worldwide, supporting 26 different currencies. It has made overseas transactions a piece of cake where people don’t have to worry about currency exchanges. PayPal does it all on behalf and sends the money across countries in minutes, which makes an international business a lot easier.
Since PayPal has to maintain a strict user policy due to a vast platform, you must comply with the PayPal user policies. Using PayPal can be easy if you know what you’re dealing with and know how to do transactions and operate the account safely. Stick to the article to know the most important points on PayPal that can help you operate your account like a pro.
Points every PayPal account holder should know
As PayPal has a large number of users and a wide range of services, there is a lot to know about it. Here are the points that are going to give you the idea about PayPal and how to use it like a pro:
Types of PayPal accounts
The first thing to know about PayPal is the types of accounts it offers for its users and how they work. Three are two primary types of accounts on PayPal, a personal account, and the business account; both have different criteria. PayPal also has two other types of accounts, the premier and the student accounts, which are actually personal accounts.
If you’re using it only for personal transactions, receiving occasional business payments, get a personal account. Get a business account if you need multi-user access (up to 200), and a premier account for single-user e-commerce business. Opening any of the PayPal accounts is completely free of cost and has a pretty straightforward process as well.
Receiving and sending payments
Receiving payments from your customers or clients from anywhere in the world is easy if you use your PayPal account. If you’re receiving the payment to your personal account, it’s free of charges; you get every penny you received. However, if you’re receiving payments from a customer or client to your business account, it involves fees that PayPal charges you.
The fees are straightforward; you pay 2.9% of the money you’re receiving and a flat $0.30 for each transaction. With the business or premier account, you can receive payments from another PayPal account or non-PayPal customers through credit or debit card.
PayPal hides your card or bank information
Credit card fraud is a pretty nasty side of online transitions that may encourage you to avoid paying online. However, with PayPal, now you can truly avoid putting a card or bank information on every vendor or seller you buy something from. One of the most beneficial aspects of using Paypal is that you’re hiding your bank or card information while paying online with PayPal.
You can connect your card or bank account with the PayPal account and use PayPal instead of the card info. PayPal will fund the purchase from your card or bank and pay the merchant or vendor without sharing the bank info.
Funding PayPal balance
Getting a balance on your PayPal account and funding the account has several ways. You can get payments from clients, link a credit card, bank account, or a debit card to fund the account. PayPal allows you to connect multiple cards to the account as well if you need it; they’ll work one after another. When you shop online or spend the PayPal balance, PayPal will fund the purchase or subscription from your card or bank account.
Withdrawing PayPal balance
Getting payments from around the globe is easy with PayPal, and it’s even easier to withdraw the money you’re getting. PayPal has an easy process for withdrawing the money from your PayPal account to your bank account, debit or credit card. There are two types of withdrawal; instant withdrawal, which includes fees and the regular withdrawal, which has no fees. The regular withdrawal takes up to 3 days, and the instant withdrawal takes up to 30 minutes to reach your bank account.
Creating Payment buttons
If you’re doing business using the PayPal account and have a website to sell your services or products, PayPal offers payment buttons. You can make payment buttons from your PayPal account and place the button anywhere on your website.
Customers or clients will click on the button after selecting the items or services and pay you with PayPal using the button. After creating the button from your business account dashboard, you will copy the code from there and past it on your website.
Currency exchange options
If you have international sales or clients who’re paying using different currency that you’re using, PayPal facilitates that. You can easily make the payment in your currency when they pay you with any of the accepted 26 currencies on PayPal.
If you’re going to use a second currency as your regular currency besides your own, you have to add that. To that, you can go to your account dashboard, currency section, and add the second currency you’re using.
Never click a PayPal link
It’s a crucial security tip for whoever is using a PayPal account and doesn’t want to get hacked and lose money. PayPal would never send you a message to your email, which includes a login link; they ask you to log in from their website. If you get any message from Paypal containing a link, you should be almost sure that it’s a phishing link.
Hackers send the spoofing emails to their targets with a fake PayPal website asking to login with that site. When you put your login credentials there, you’re doomed because they got all your information. It’s the most common when you try to Buy Real Paypal Account from an email without knowing where it takes you to.
Final thoughts
PayPal makes online payments and businesses a lot easier, whether you’re doing overseas transactions or local ones. If you’re planning to get online and do business, PayPal is the best option to help you manage bigger businesses. It lets you allow up to 200 employees to properly manage your business, look after the cash flow, manage inventory, and do everything else.
Paypal even helps you charge your clients and customers with different payment options, make invoices, and so on. I hope these points I mentioned that Paypal have helped you understand how PayPal works and how it can help you skyrocket your business
