Our world is covered with Computers and the internet. from our personal product to any other product. we can buy all these products online with the help of the Internet and computers.
The Internet has many online payment methods available like Banking, UPI, Paytm wallet, Credit card, Debit Card and PayPal is one of them.
Many peoples dont know about Paypal and how to use it. So today in this article we will discuss Paypal and how you can create your free account on it.
Paypal is better than any other online payment service. you can pay with online payment service when you buy any online products.
Same as you pay with Credit or debit cards you can pay your bills and payments with Paypal and its fast, easy way.
What is PayPal?
Paypal is a Popular American company that works worldwide as an online payment service. PayPal allows users to send or receive funds via electronic way.
Paypal is the best way to traditional paper methods like checks and money orders. any business or individual man can transfer money anywhere they want.
Paypal is an old and trusted online payment service. you can transfer payment to national and international with just one click.
— PayPal (@PayPal) January 30, 2020
Today Paypal has more than 100 Million members active accounts from 190 countries. To send payments through PayPal you need some requirements like Verified PayPal account and money in Paypal account.
Types of Paypal Account
There are three types of Paypal accounts which we discuss one by one below.
1. Personal Account
2. Premier Account
3. Business Account
Now we will tell you these account detail one by one and where these all accounts used for. So let us get the start.
Personal Account – As its name described its a personal user account. in the personal account, you can use 5 Credit and debit card funded payments every year. You can pay for every transaction you send or receive.
Premier Account – This type of account is used by a High Transaction volume transaction. in this account, you will get core and premium features to access. you can use or add unlimited credit or debit cards in this account. But you have to pay a fee for every payment.
Business Account – This kind of accounts is specially created for business, group or company. Just like Premier accounts, you will get unlimited Credit and debit card payments. but you have to pay a fee for every payment you receive.
Import Documents for Paypal account
if you want to create an account of PayPal then there are some important documents you need for PayPal
- Bank Account
- PAN Card
- Debit or credit card
Steps to create a PayPal account
Step 1. Open your browser and go to Paypal.com official website. here click on the Signup button and on the next page select your account type here we are creating a personal account. Now read the given below steps
1. First, select your country
2. Type your Email address in the Address bar
3. Type any Strong password which you want.
4. Now retype or reconfirm the password.
5. now you have to type captcha Code and click on the continue button.
Step 2. When you click on continue button you will redirect to a new window where you have to fill below-given details
1. Type your First and middle name
2. type your last name
3. Enter your date of Birth
4. Select your country
5. Now type your address(Only real Address)
6. Now again re-type your address
7. Select your state(For example Punjab)
8. Enter your city and zip code(Pincode)
9. Type your real mobile number
11. Now just click on Create account to click your PayPal account.
So, These all are the steps to create your PayPal account. Read these all steps carefully and follow them to create an account. if you are facing any problem to create an account then comment down below.
How Does PayPal Works?
you can create user iD in PayPal with the help of an Email address. and with the Email address, you can do Online Transactions. After registration, you can add Bank, credit or debit card in your profile.
after adding details in your PayPal profile then PayPal confirms that the given detail is correct. PayPal sends you two small transactions and you have to submit those transaction details to PayPal to verify your bank, credit or debit card.
Only PayPal verified accounts can receive and send payments. you can receive payments in your PayPal account just by giving your PayPal email address.
Same as you receive payment you can send funds to anyone you want. To send funds to anyone you just need to click on Send funds button and type the Email address for the receiver. Paypal charge for every payment you receive.
The fee of Transaction is based on your payment amount. if the amount is big then you have to pay more fees for it.
Advantages of Paypal
Paypal has many advantages like a fast and safe transaction. the other advantages of PayPal are given below.
1. PayPal provides 100% protection from unauthorized payments.
2. You can send or receive money just by sitting at home or anywhere else.
3. you can send money to any other country with secure mode.
4. if you have any problem related to the transaction then you can use Paypal support for it which is available for 24×7.
5. PayPal provides many offers and coupon codes for shopping and others.
Disadvantages of Paypal
As compare to the advantages there are few disadvantages of PayPal which are described below.
1. Paypal can freeze your account any time they want.
2. if they detect any fraudulent activity or policy violation in your account then they can terminate your account.
3. Paypal is a private company so there are no rules of federal banking for PayPal.
4. If your account is frozen or terminated then you cant withdraw your funds.
I hope this article helped you a lot to understand about PayPal and how it really works. if you have any queries related to Paypal then make sure to comment down below.