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Send or Receive Money with PayPal

by Ron Kurtus (17 November 2020)

You can make an online purchases with PayPal. Likewise, you can send money to someone who has a valid PayPal account, as well as receive money that is put into your account.

Finally, you can transfer money between your different bank accounts with PayPal.

Questions you may have include:

This lesson will answer those questions.



Making online purchases

If you are making an online purchase, most commercial websites provide PayPal as a payment option by displaying the PayPal icon. Once you select what you want to purchase, you can click on the PayPal icon and follow the instructions. Your payment will be sent directly to the vendor, taking it from your credit card or bank account, as per your PayPal account.

Sending money to someone

If you want to pay or send money to someone, you can login to PayPal and enter their email address, which must be linked to a valid PayPal account. The money will then transferred from your account to the other person's PayPal account. You must have funds linked to your PayPal account to cover the cost of your purchases or payment.

If you link your PayPal account to a bank account, then PayPal will automatically withdraw the funds from your bank account to pay for your purchases. Alternatively, PayPal will charge your purchases to the credit card that you link to the PayPal account. You can set up your PayPal account in either manner.

Receiving money into your PayPal account

If you want to receive money into your PayPal account, you can do this by asking the other party to send you a payment using your email address. You can link multiple email addresses to one PayPal account, so there is no need to open multiple accounts if you regularly use more than one email address.

If you have a Premier or Business account and have a PayPal Shopping Cart on your website, the person can click on the PayPal icon and make a purchase or send you money through their service.

Transferring funds

You can link your PayPal account to your bank account so that you can transfer funds between your personal or business bank account and your PayPal account. PayPal charges no fees to transfer money in or out of your bank account.

You can link your PayPal account to your bank account so that you can transfer funds between your personal or business bank account and your PayPal account. The PayPal website provides instructions for how to do this. PayPal charges no fees to transfer money in or out of your bank account, and most banks do not charge for this service, either.

You can also link your PayPal account to a credit card, although many websites will not accept this form of payment because the website must pay higher fees for this service.

Summary

PayPal allows you to securely send or receive payments over the Internet.

You can pay for goods you are purchasing, make online donations, or send money to family members. You can also receive payments through PayPal if you are selling items or someone is sending you money. Most online services accept payments through PayPal.



Resources and references

Ron Kurtus' Credentials

Websites

How to Use PayPal on Amazon

How Does PayPal Work on eBay? - From Dummies.com

How PayPal Works - From HowStuffWorks.com

PayPal Help

Finances Resources

Books

(Notice: The School for Champions may earn commissions from book purchases)

Top-rated books on PayPal

Top-rated books on Personal Finances


Questions and comments

Do you have any questions, comments, or opinions on this subject? If so, send an email with your feedback. I will try to get back to you as soon as possible.


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