PayPal is an online payment system that allows users to send and receive money across the globe. It’s a secure, convenient way to make payments without having to share your financial information with the recipient. In this article, we’ll explore the steps needed to send money with PayPal.
Create a PayPal Account
The first step in sending money with PayPal is creating a PayPal account. This process is simple and free. To get started, visit the PayPal website and click “Sign Up.” You’ll be asked to create a username and password, as well as provide some personal information such as your name, address, and phone number.
Once you’ve completed the signup process, you’ll need to verify your account. This is done by linking a bank account or debit/credit card to your PayPal account. You can do this by clicking on “Link a Bank Account or Credit/Debit Card” from the “Wallet” section of your account.
Link Bank Account or Credit/Debit Card
To link your bank account or debit/credit card, you’ll need to enter the information associated with the account. This includes the account number, routing number, and other details. Once you’ve entered the information, click “Link Account.” PayPal will then verify the information and link the account to your PayPal account.
If you’re linking a debit/credit card, you’ll also need to enter the card number, expiration date, and security code. Once you’ve entered the information, click “Link Card.” PayPal will then verify the information and link the card to your PayPal account.
Select the Recipient
After you’ve linked your bank account or debit/credit card, you’re ready to send money with PayPal. The next step is selecting the recipient. You can do this by entering their email address or phone number. If the recipient doesn’t have a PayPal account, they’ll be prompted to create one.
Once you’ve selected the recipient, you’ll need to choose the payment method. You can choose between the “Goods and Services” option or “Friends and Family” option. The “Goods and Services” option is best for business transactions, while the “Friends and Family” option is best for personal transactions.
Enter Payment Amount
After you’ve selected the recipient and chosen the payment method, you’ll need to enter the payment amount. Enter the amount you wish to send in the designated field. You can also choose the currency type if you’d like to send money in a different currency than your own.
Choose Payment Method
Now it’s time to choose the payment method. You can choose between the “Goods and Services” option or “Friends and Family” option. Each has its own associated fees, so it’s important to understand the difference between the two before making a decision.
The “Goods and Services” option is best for business transactions, as it offers seller protection. This means that PayPal will cover the cost of any disputes or refunds that may arise from the transaction. However, this option also comes with a fee of 2.9% + $0.30 USD.
The “Friends and Family” option is best for personal transactions, as it doesn’t come with any fees. However, this option doesn’t offer seller protection, so it’s important to trust the recipient before sending money.
Add a Note (Optional)
You can also add a note to your payment if you’d like. This is optional, but it’s a nice way to let the recipient know what the payment is for. You can also attach documents to the payment if needed.
Review and Send Payment
Once you’ve entered all the necessary information and added a note (if desired), it’s time to review and send the payment. Review all the payment details to make sure everything is correct. Then, click “Send Payment” to complete the transaction.
Sending money with PayPal is a secure, convenient way to make payments. By following the steps outlined in this article, you can easily create a PayPal account, link bank accounts and debit/credit cards, select the recipient, enter payment amount, choose payment method, add a note (optional), review and send payment.
For more information on how to use PayPal, check out the PayPal Help Center.