Paypal being one of the most popular money transfer service for online transactions is a safer and faster way of sending and receiving money. My experience with PayPal wasn't a pleasant one because my first attempt of using it resulted to the freezing of my account thus making it impossible for me to withdraw the money in the account. Though some months ago a friend tried convincing me to use PayPal but I was skeptical about because of my ugly experience remember the saying once bitten twice shy so i was really been careful but after much pressure I decided to give it a try and when I did I wasn't disappointed. PayPal being a widely accepted method of payment both online and offline enable people to make or accept payment quickly and securely without using a credit card. Paypal uses eBay to send money to friends,donate to charity and buy items online thus making it to rise to stardom. Paypal is used for the following;
1. Sending/receiving payments for online auctions at eBay andother
3. Make/receive donations.
4. Exchange cash with someone
PayPal enables one to send funds to anyone with an email address whether or not the recipient has a PayPal account but if one has a PayPal account it puts one at an advantage over others because one can add and withdraw funds in many ways and can also associate the account with bank accounts/credit cards for more direct transactions. One amazing thing about PayPal is the signing up which is quick and doesn't require any bank account information however to one to enjoy the many features of PayPal one will need to add and verify a checking account/credit card. Paypal has 3 account types which are; personal,premier,and business. Each account is unique in its own way in such a way that the personal account users has access only to the core features while premier account can be registered with a business,group or Individual and business accounts must be registered with a business or group name. All the 3 types of account can send and receive money and they offer business loans to help fledging companies get star
Business and premier accounts provide the following;
1. Accept debit/credit card payments
2. Allow senders to set up recurring payments
3. Unlimited use of a Paypal ATM/debit card
Though the above featurescome at the cost of transaction fees.