How to Transfer Money Online with Paypal-updated -2022p

How to Transfer Money Online with Paypal – This article will show you how to use Paypal to transfer money online and how it works, follow through these articles for more clarification.

Paypal is an app used for transferring money online very easily and securely spending, sending, and managing your transactions—all in one place. Download the app on your phone or sign up for free online. Scan the code or enter your number to get the app. By clicking Send Link you agree to receive a text message with a link to the PayPal app

Meaning of PayPal

PayPal is an online payment system that makes paying for things online and sending and receiving money safe and secure. When you link your bank account, credit card, or debit card to your PayPal account, you can use PayPal to make purchases online with participating stores

How to Open a PayPal account Online

Opening a Paypal account is very simple; all you need do is go to the website – www.paypal.com/ng and sign up.

Operating with PayPal you must have an account below are steps to follow to get you started;

Go to www.paypal.com and click Sign Up.
Select Sign Up for a Personal Account.
Enter your country, email address, and password.
Enter your other personal details.
Link your credit card to PayPal (optional).
Link your bank account to PayPal (optional).
Verify your email address with PayPal.

How PayPal works

if for example, you transfer says $20 to anyone abroad, you will be debited in Naira at the applicable exchange rate and alerted by your local bank.

Disadvantages of using a PayPal account

Whatever has advantages has a disadvantage, below are the challenges of a PayPal account

High chargeback fees.
Higher fees than a typical merchant (credit card processing) account.
Account suspension for terms and conditions (T&C) violations that can freeze your funds for months.
May take 2 business days to get your money.
Customer service can be hard to reach.