One of the best ways of performing online transaction is through PayPal. This is a web site that allows one to receive payments or to send money to an individual or an organization, through the internet. This is considered to be a safe method of money transaction as no revelation of security codes or credit card number ID is made for each transaction. During the signing up process with
PayPal, the account information is asked and we just need to type
them only once.
The Bank account will be linked to the PayPal ID forever, till we
For instance, when we are booking for flight tickets using PayPal,
the money is directly transferred from the account to the airlines
through PayPal. No checks or bank papers are involved.
What are the pre requisites to start a PayPal account?
One just needs
- a bank account
- an email address (Valid one which is recently used)
- a credit card.
There are different types of accounts like personal, business and
Using the personal account, one can frequently purchase online.
Using the business account or merchant account, frequent
transactions can be made for trading items.
Those who sell items online can also use premier accounts.
Sending money through PayPal is very easy. We need not get the
account number of the person. We just need to send the right
amount to the right email ID.
As the credit card or bank account is linked to email ID, money will
be automatically transferred.
Similarly, money can be sent form the account or from the PayPal.
All the transactions that have taken place recently can be seen in the
PayPal credit history and for each PayPal transaction, a mail is
received as a confirmation of online payments.
This email serves as a receipt as it contains transaction number
and the amount.
In PayPal, there are certain limitations to the monthly transaction.
One can add the money from his account in the bank to PayPal or
withdraw money from PayPal to bank or even ask for a check.
PayPal Debit MasterCard can also be utilized, but only available
in the US.
If we need to have a clear idea of all the earlier transactions for
each month, then we need to use the History option.
The personal details that can be added to PayPal include address,
phone number, name, bank account, credit card, apart from the email address.