Paypal Accounts And Services – PayPal is an online payment operating system that aids online money transfer, and it serves as an alternative to the paper method like checks and money orders. PayPal offers so many alternatives that you might not be aware of
Let’s take a look at the various PayPal account, this will give you a clear vision of what PayPal actually offers.
Types of Pay Pal Accounts
To use Pay Pal, you will have to create an account first. PayPal offers two major accounts, personal PayPal accounts, and PayPal cash and PayPal cash plus accounts. An account like premier and student is no longer available as of this writing.
Personal PayPal Accounts
A personal PayPal account is available for everyone who uses PayPal to make purchases, send or receive money from friends and relatives, allows you to pay for dinners and other online purchases.
PayPal Cash and PayPal Cash Plus
If you have a personal PayPal account and you want to hold a balance, PayPal compels you to use its “balance account” (PayPal cash or PayPal cash plus). You can still receive, send and make payments. However, to keep a balance in your PayPal account you will need PayPal cash or the PayPal cash option.
You can sign up for PayPal cash to, receive money in PayPal. When you accept the money, you can choose to transfer it to your bank or keep it in your Pay Pal, if you choose to keep it in pay pal you will need to set up PayPal cash.
Having a PayPal cash lets you send money using the balance. You can also utilize this with Google Pay, and Samsung pay, you can also convert your currency balance.
As an alternative, you can use a PayPal cash plus instead. This allows for to do everything PayPal cash does, you can also use a PayPal debit card for purchases in-store.
If you are using PayPal for your company, you should create a business account for PayPal. This lets you regulate under your company’s name, accept payments, give employees restricted access to your account, and use business-oriented PayPal’s products.
Verifying your PayPal Account
Requirement needed to sign up for your PayPal account:
- Phone Number
- Email Address
- Payment method(bank account, credit card, or debit card)
However, to show that you are a legit user, you will have to verify your PayPal account. Verifying your PayPal account shows that you are who you want, and it will increase confidence for anyone who is doing business.
To complete the verification process you will have to:
- Add and confirm your bank account
- Gets approved for one of PayPal credit products
Confirming your bank account involves logging in with your bank credentials, or verifying two deposits that PayPal makes to your account.
Owning a PayPal account does not require any fees, here situations where PayPal charges fees:
- PayPal will charge when you sell something on ebay
- When you receive or send money abroad
- PayPal will charge you when you send money to family and friends using debit card
- When you transfer your money from your PayPal account to bank account using a debit card.
PayPal offer several cards that might be eligible for your needs:
PayPal Cashback MasterCard
This card provides 2% cash back on every purchase you make with no exception, you can redeem your cashback to your account at any time, and no annual fee charges.
PayPal Extras Mastercard
This card offer you:
- 3points per dollar on gas and restaurants
- 2points on pay pal and eBay purchases
- 1point per dollar on everything else.
PayPal owns so many services and Venmo is one of them, Venmo is service focused on mobile payments to reimburse friends and similar.