Mind & Body

Saturday, 28 April 2012

All you need to know about paypal

All you need to know about PayPal

Step by step instructions

PayPal is a money transfer site which allows an individual to send funds to others or make online purchases.

PayPal is an online financial middleman that facilitates the transfer of money between people and businesses online. Users only need to share private financial information with PayPal, not unknown parties. PayPal can be used to buy things online, shop on eBay or receive money from friends. There are three different types of PayPal account – Personal, Premier and Business

A PayPal account can receive money as soon as it has been created, but to use it to send money or to buy products online, the user needs to set up a means of getting funds into the account. Normally the PayPal account is linked to an existing bank account, or to a credit or debit card.
Paypal has been subject to scams and security issues which the user needs to be aware of. Paypal can also be linked to software such  Skype and Facebook.

Create Your PayPal Account
  1. Once you've chosen the right account for your needs, click on the appropriate account button.
  2. Fill in the requested information. Choose a password that others won't easily guess!
  3. Read the user agreement, then click to create your account.
  4. You'll receive a confirmation email from PayPal. Click on the link in the email.
  5. Sign into your account with the password you just set up. Now you're ready to go!

Step 1: Create a PayPal Account
  • Creating a PayPal account is very easy. You just need an email address to get started.
  1. First, go to Paypal's home page and choose "Sign Up Now!"
  2. Select the country where you live and choose a language preference.
  3. Now you need to choose a type of PayPal account. PayPal offers three account types. When choosing between them, consider what you're going to use PayPal for.

Step 2: Set Up Your PayPal Account

You can receive money immediately once you've created an account. You need to give PayPal a source for funds before you can shop online or send money to anyone. You can also set up PayPal so you can use it with your mobile phone, and you can verify your account if you want to spend more money than the initial PayPal spending limit

Fund Your PayPal Account
  • PayPal gets money from you to send to a recipient in one of three ways:
  1. Deducting the funds from your PayPal account, if you have a large enough balance.
  2. Deducting the funds from the bank account you linked to your PayPal account.
  3. Charging the credit card you linked to your PayPal account.
  • Link a Credit Card to Your PayPal Account
    • Using a credit card may provide extra purchase protection, as your money should be protected by your credit card company as well as PayPal.
  1. Go to PayPal and sign into your account.
  2. Click on the "Add Credit Card" link.
  3. Fill in the requested information.
  4. Click "Add Card" at the bottom of the page.
  • Link a Checking Account to Your PayPal Account
    • Given the option, do not link your PayPal account to your primary checking account. If something goes wrong, you do not want to lose your rent money!
  1. Gather your bank information, including your account and routing numbers.
  2. Go to PayPal and sign into your account.
  3. Click on the "Add Bank Account" link.
  4. Fill in the requested information.
  5. PayPal will make two small deposits to your bank account, approximately three days after you enter the information.
  6. Check your bank statements for the deposits.
  7. Return to your account page and click on the "Confirm Bank Account" link.
  8. Enter the amount of the deposits to confirm the account.
  • Once you've linked an account to PayPal, you can click on the "Add Funds" tab whenever you'd like to add money to your PayPal account.

PayPal on Your Mobile Phone

  • You can access PayPal via your cell phones on most carriers in the US and Canada.
  1. To use PayPal on your cell phone, you need to log in to your Paypal account and input your cell phone number.
  2. Enter a PIN number.
  3. PayPal will call your phone to verify the PIN.
  4. Now you're set up for PayPal Mobile! You can either text funds, or send money via a mobile login.

Verify Your PayPal Account

  • You can verify your PayPal account by applying for a PayPal credit card or entering a bank account number. Verification confirms your identity on PayPal and makes it easier to use PayPal online. You must be verified to continue using PayPal once you've reached your sending limit.
    • Verification by Checking Account
  1. If you want to be verified by entering a checking account number, gather your bank information, including your routing and account numbers.
  2. Sign into your PayPal account.
  3. Click the "Get Verified" link on the left.
  4. Click the "Add Bank" option.
  5. Fill in the requested information.
  6. You can [enter your online banking information and have your account verified instantly.
  7. If you do not have that information, PayPal will make two small deposits to your bank account.
  8. Check your bank statements for the deposits.
  9. Return to your account page and click on the "Confirm Bank Account" link.
  10. Enter the amount of the deposits.
    • Verification by PayPal Credit Card
  1. Sign into your PayPal account.
  2. Click the "Get Verified" link on the left.
  3. Click the "Apply Now" button to apply for a PayPal Credit Card.
  4. Fill in the requested information.
  5. If you are approved, your new credit card will also serve as verification for your account.

Step 3: Use PayPal to Send Money

  • PayPal lets you shop online, as well as send money to anyone with an email address.

Send Money with PayPal

  1. To send money directly to someone, login to your PayPal account and click the Send Money tab.
  2. Enter the email address or phone number of the recipient, the amount you want to send, and the currency you want to use.
  3. Mark what the money is for, and then click Continue.
  4. Review your payment information, and then confirm the transfer.


Buy on eBay with PayPal

  1. Most eBay sellers accept PayPal, although many require that you confirm your shipping address by registering a valid credit card billing address on PayPal before accepting your payment.
  2. Login to your PayPal account and choose the "edit profile" link next to your name.
  3. Under Account Information, choose "Street Address."
  4. Make sure the address listed is the same as your credit card billing address.
    • To make sure your eBay account reflects this change, log in to your account on eBay and go to the Addresses section. Click the button marked "Add PayPal Addresses," and select the PayPal-registered address as your shipping address.
  5. To use PayPal on eBay, choose PayPal as your payment option when you pay after winning an auction.
    • You will be directed to the PayPal website; log in to your account.
    • After deciding how you will fund the purchase, click the Pay button.

Buy Online with PayPal

  1. Many online businesses also accept PayPal. To use PayPal on these sites, choose PayPal as your payment option when you go to check out.
  2. As with eBay purchases, you will be directed to the PayPal website; log in to your account.
  3. After deciding how you will fund the purchase, click the Pay button.
  • PayPal also offers customers a one time credit card number that allows you to make purchases on sites that do not accept PayPal.


Step 4: Use PayPal to Receive Money

  • PayPal lets you accept payments from anyone with a PayPal account, bank account or credit card. Although PayPal's popularity began on eBay, many people and small businesses use PayPal to accept funds.
    • Remember that the type of account you have affects the fees you must pay for receiving money.

Receive Money from PayPal Accounts

  • You'll receive an email notifying you when money is added to your account.
  • Personal accounts do not pay to receive money from other PayPal accounts, but Business and Premier accounts will incur fees.

Request Money for Your PayPal Account

  • You can also use PayPal to request money.
  1. When you're logged in to PayPal, click the "Request Money" tab. Enter the email address of the person you want to pay you, and the amount you need. PayPal will send out an email with the information and instructions on how to pay you.
  2. Or you can request money via your mobile phone. Just text PAYPAL with the amount you need and the phone number of the person you want to pay.
  3. For example, to request $5, your text would say 5 from 3105550111.

PayPal for eBay Sellers

  • PayPal is owned by eBay, and it is the preferred method of payment on the site. If you are considering selling on eBay, setting up a PayPal account is a good idea. Plus PayPal has a numerous free tools for sellers on eBay.

Step 5: Security on PayPal

  • PayPal users need to be aware as they use the site that it is not uncommon to encounter fraudulent emails or other scams. Be cautious, but do not let fraud deter you from using PayPal. PayPal guarantees 100% protection against unauthorized use.
  1. Read PayPal's list of security tips so you don't fall victim to a fraud or scam.
  2. Keep your password secure.
  3. PayPal offers a security key to its users. For an additional $5 you receive a "key" which generates a different 6 digit number every 30 seconds. You enter the number into the website to prove your identity.
  4. File an unauthorized activity claim if you see a charge to your account that you did not make.

Spoof Emails and PayPal

  1. PayPal emails address customers by first and last name, or by business name.
    • If you receive a suspicious email, forward it to spoof@paypal.com.
  2. PayPal emails do not contain attachments. If you receive an email with an attachment that is purportedly from PayPal, do NOT download the attachment.
  3. Access your account by going to www.paypal.com and logging in; do not click on links in suspicious emails.
  4. Spoof emails often arrive with a false sense of urgency.

Security for Sellers

  1. Follow PayPal's tips to sell securely.
  2. PayPal also offers a Resolution Center to mediate buyer/seller disputes.
  3. If a buyer files a chargeback with his or her credit card company, PayPal works with sellers to resolve the issue while they withhold the funds from your account.
  4. If you have a verified account, you may qualify for PayPal's Seller Protection Policy, which covers up to $5,000 for sellers who are defrauded.

Step 6: Manage Your PayPal Account

  • Now that you're using PayPal, here's how to manage and maintain your account! Or, if PayPal isn't working out for you, you can always easily close the account.

Your Money on PayPal

  1. When you receive money through PayPal, the company puts the money in your account, minus your processing fees (if applicable).
  2. To access your money, click on the "Withdraw" tab.
  3. You can transfer money to your bank account, request a check, or get cash from an ATM.
    • Be aware that there are fees for some of these options.
  4. If you enroll in the PayPal preferred rewards program, you can apply for an ATM/Debit card] that lets you immediately access the money in your account.
  5. If you enroll in PayPal's Money Market Fund, they offer interest on the money you leave in your account.


Close Your PayPal Account

  1. To close your account, login to your account and click on the "Profile" tab.
  2. Choose the "Close Account" link under Account Information.
  3. Enter a reason for closing the account and click Continue.
  4. Click the "Close Account" button on the next page.

"special thanks to mahalo.com for the information"


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