PayPal

Service of electronic payments began its work in 1998. The company PayPal was one of the first in the electronic money market, and today it is one of the most popular. Its customer focus has allowed the company to develop and implement software that allows users to use the system’s services on different devices, including managing money using an application from a smartphone.

Why Paypal?

Over its long history, the company has been able to create a reliable mechanism that allows customers to make transactions with 25 major currencies in 202 countries.

Paypal services are payments for purchases and money transfers. All customer data is protected by special programs to ensure the security of transactions. In this case, you can conduct operations without disclosure of bank card data or other personal information. After all, the buyer protection program is valid for 180 days from the date of payment.

Among the company’s clients are not only organizations and vendors, but also other legal entities. Special programs have been developed that allow you to accept online payments directly on the site paypal.comThe system of electronic invoices, which can be sent by e-mail, can be used. At the same time, funds received on the Internet can be transferred to the recipient’s bank account.

As a result of many years of work Paypal has managed to establish partnerships with numerous companies, including major market players, companies with a medium turnover, as well as small online stores. According to official information collected in 2014, more than 200 million users use Paypal.

Paypal for sports betting

As repeatedly stated above, Paypal is widely used by many companies, and among its customers can be found organizations that work in a variety of areas of activity, including betting shops. At the moment in the list of betting companies that use the system Paypal includes many companies from the U.S. and Europe.

Paypal for buying/selling cryptocurrency

At the moment, the purchase and sale of cryptocurrencies through Paypal system is associated with many problems. The system itself is not very willing to work with cryptocurrencies, as this market is unstable and quite battered with fraud. One of the pluses for individuals was the possibility of cancelling the payment. For example, in cases when the cryptocurrency was not received by them. On the other hand, this position became a disadvantage for companies selling cryptocurrency. However, if the coins were received, but the user canceled the payment, the company itself will have to prove the transfer of the cryptocurrency to the buyer.

In addition, it is often possible to encounter situations where user accounts associated in one way or another with cryptocurrency transactions have been blocked for a period of up to 180 days. This is due to both non-compliance with the company’s internal rules and the company’s own policy towards the cryptocurrency market (How to Make Money on Cryptocurrency?).

How do I use Paypal to pay for goods and services?

Registration on the official site is required to use the system. After registration, customers can use electronic money to pay for goods and services. The popularity of this system is closely related to the high level of security when making purchases on the Internet, as well as making payments without entering personal and bank data.

To make a payment, all you have to do is use your email address and password.

When working with Paypal, you can use one of the bank cards that are linked to the account.

An additional benefit for buyers was the protection program, which allows for a refund if an item is not received from the seller.

In addition, the use of Paypal simplifies the payment procedure, as the client does not need to enter the card data each time to pay for the purchase. Otherwise, the procedure is similar to the usual procedure of payment, including the ability to accumulate bonuses from the issuer.

Another fairly important point, given the development of technology, is that you can manage your own funds from a computer, as well as from a tablet or phone.

How do I sign up for the Paypal payment system?

Using the system Paypal impossible without registration. Register on the company’s official website paypal.com anyone can, for example, to create an e-wallet as a private person or use the system to receive payments from the sale of goods and services, if the case is a company.

To register in the system, you need to fill out a small form, which must necessarily specify an email address, which will later be used in the system for transactions, as well as the region and the password.

The second step of the registration process requires you to enter your contact information, including your address and phone number (mobile or home). The last step of the registration process requires you to enter your card details.

Account type

As mentioned above, Paypal offers its services to commercial companies and users. Depending on this there are two types of accounts: personal and corporate. Personal account can be used by individuals to pay for purchases, services, making money transfers to the account of another client.

Corporate accounts can be used by companies to accept payments from their customers for goods sold or services rendered.

How do I get verified in Paypal?

To use the service, you need to be verified. The system performs verification of the data specified during registration: cell phone number and e-mail address at the initial stage. The procedure itself takes very little time. To confirm the data, a message is sent to the mobile number with the password, which must be entered in the form in the personal account. To confirm the email, an email with a link is sent to the specified address, and clicking on it and entering the password completes the procedure.

Proof of identity requires additional documents. Thus, individuals must provide a passport or other document confirming the identity of the owner, such as an emigration card or a foreign passport. This allows the account holder to get a new status and remove a number of restrictions from it. Commercial organizations will need to provide a broader list of documentation.

Deposit and withdrawal from paypal.com

The work of the Paypal service is closely related to the conduct of payments, including withdrawal and deposit operations. Withdrawal of funds to the bank account can be carried out manually as needed or automatically. Only holders of “Corporate” category accounts can use the automatic transfer function. Money transfer to the bank account can take from 5 to 7 working days. This period depends on the schedule according to which banks process payments.

Currency of operations

According to the official website paypal.com, the Paypal system currently operates in 202 countries, which allows users to carry out transactions using 25 different currencies.

Commission

The use of PayPal is mainly without additional fees. In most cases, a commission will need to be paid in the case of conversion of one currency into another (4 percent of the wholesale exchange rate). Transactions in some currencies when paying for goods and services are free of charge.

In the case of money transfers pay a fee of 3.4% of the total amount for all transactions, if the money is used directly from the bank card. Additionally, the company charges a certain amount for each such payment. If you need to transfer funds outside the country, the additional commission is from 0.4 to 1.5%.

For commercial accounts developed its own system of tariffs. So, when selling goods within the country will need to pay 3.9% of the total amount of payments received and additionally deposit some money to the Paypal account for each of the transactions carried out.

Commissions for sellers directly depend on the volume of sales and start at 2.9%. It should be remembered that when selling goods and services abroad will need to pay conversion fees, as well as existing international payments. Get an idea of the amount of additional payments to be made to the account Paypal, you can use a special form.

Payment limits

Information on the existing limits that apply in a particular region or to a particular user can be obtained in your personal account. It is possible to increase the transfer limit by confirming the details of the bank card.

Restrictions on withdrawals in PayPal

At the initial stage of using Paypal, all accounts are categorized as unconfirmed. This status imposes restrictions on both sending and receiving and withdrawal of funds from the system. In this case, each region has developed its own restrictions. To get rid of the limits or significantly increase them can help the procedure of confirmation of bank details.

Bonuses from PayPal

In addition to the many benefits that the system offers its customers, there are additional bonuses that Paypal users can receive. You can find the key information on a separate page on the official website of the company. A total of 27 categories are presented in this section, among which you can use the filter to select the most interesting offers.

Reviews about the payment system PayPal

Monitoring reviews on the network allows you to get a general idea of the company’s work, the quality of services provided, the pitfalls that customers may encounter. When searching for reviews about Paypal, you can find completely opposite opinions. In this case, the complaints of clients cause bureaucratic delays, which are associated with the work of the system as a whole, as well as the fraudulent actions of individual users, blocking of the account for some reason, the presence of commissions. Given the fact that this system is designed to make payments on the Internet, there are a lot of problems with both careless sellers and buyers.

The main pluses noted by customers include reliability, speed of payment, ease of use, no withdrawal fees for certain bank cards, multi-language, the ability to shop online, refund in the absence of paid goods.

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Regulation and license of paypal.com

The relationship between the company and the client is regulated on the basis of the existing legal provisions. Each party must familiarize itself with these provisions in order to understand its rights and obligations.

PayPal license

As for Paypal registration, there are no any certificates and certificates on the official site. To get an idea of the activities of the company, the mechanisms of interaction with customers, as well as the rules, which are used in the company, it is possible in the section “Terms and Conditions”. To get acquainted with the conditions that apply to a particular region, you can enter information about the country of residence in a special column on the page.

• Documents from paypal.com: “Privacy Notice” (See), “User agreement for PayPal services” (See), the PayPal Acceptable Use Policy (See).

Paypal User Agreement

Before you start working with the Paypal system, you should familiarize yourself with the basic rules and regulations that the company has developed for working with customers. This information can be found on the page “Terms and Conditions”. This section presents the company’s policies, agreements, including the user agreement. It should be noted that users are required to read this documentation before completing the registration.

When studying the user clause, pay attention to the first paragraphs, which tell you how the new rules will take effect when they change.

Clause 1.2. specifies the requirements for potential customers.

Paragraph 2.1 specifies the limits.

The procedure for the use of funds is specified in paragraph 2.2.

Information on refunds can be found in paragraph 2.5.

For information about countries and regions in which you can accept, receive, payments, you can see in paragraph 3.1.

The movement of accounts with a negative balance is described in paragraph 4.3.

Information about the withdrawal fee is provided in paragraph 5.3.

The procedure in case of unauthorized transactions or errors is listed in the eighth paragraph of the agreement, in particular in paragraph 8.1.

PayPal Support

Quickly get the necessary information on the service is possible with the help of the page “Help Center”. Get more information about Paypal, as well as the conditions offered to customers, existing features and procedures in a particular situation can be on the forum, in the transaction resolution service, the tax department.

In addition, users can quickly resolve many issues with the help of the support service. To do this, describe the problem in a special form.

Is Paypal a Scam?

Based on the information presented in the detailed review, it can be concluded that Paypal – is not a scam. This service has been working globally for almost 20 years. During this time, the system has been improved, allowing it to serve customers from 202 countries and use 25 major currencies for transactions.

For commercial organizations, entrepreneurs and individuals separate offers have been created, which can help simplify the procedure of making payments, as well as significantly increase the efficiency of the site. Users get a reliable and safe tool for payments on the Internet and can use the system for shopping and purchasing necessary services. However, it is necessary to remember that any system has its own rules. Therefore, before registering with Paypal, one should study the regulations and rules based on which the company provides its services. After all, Paypal works under the policy, which is adopted for a particular region. In this case, commissions, conditions and limits may differ significantly depending on the region.

Also users note quite a few disadvantages and advantages of using Paypal. Information about the negative moments and pluses of using the system can be easily found in the comments left by users on various sites. Despite the existing disadvantages, bureaucracy and sluggishness, the system itself can be a convenient tool for doing business or shopping online.

Conclusion

To summarize all the information received, it should be noted that Paypal is characterized by a broad scope. You can use its services in many countries and regions. However, the company has its own rules of service, which may vary significantly in different parts of the world. Paypal may charge for its services in the form of commissions.

The system itself has proven to be reliable and secure. Although in some cases, it is the fight against fraud and money laundering that has led to the tightening of some procedures and their bureaucratization. Because of this, funds in user accounts can be blocked for 180 days.