How to Transfer Money Online with Paypal Update 2022 – This is a complete breakdown of 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 or Sign in 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.
How to Transfer Money using the Paypal App
Transferring money with the PayPal app is very easy with the following steps below;
- Open the PayPal app and sign in.
- Tap Send.
- Enter or select a recipient.
- Enter the amount.
- Tap Next.
- Select a payment type.
- Select a payment method and tap Next.
- Review and tap Send Now
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