

PayPal uses end-to-end data encryption, lets you request email confirmation of transactions and lets you require two forms of verification, including facial or fingerprint recognition. Secure: PayPal hides your payment information from merchants-unlike when you hand your credit card to a retail store clerk.Fast: PayPal instant transfers are immediate, so you don’t have to wait for your money to become available.What are the benefits and drawbacks of PayPal?Īre you still trying to decide whether PayPal is right for you? Here are some more pros and cons you might want to consider. Create an invoice on the app to text or email.Get a personal payment link to text or post on social media.Then you can decide whether to leave it there for future use or transfer it to your bank account.įor a business account, PayPal offers three ways for you to get paid. Enter the email address or cellphone number of the person paying youĮither way, when the money is deposited, you’ll receive a notification-either by email or through the PayPal app.Or you could initiate the payment by clicking the request button.įor the latter, you could then choose one of four options: They could initiate the payment by entering your email address or cellphone number. If someone wants to send you money, there are two ways you could start the process. You may be wondering how it works in reverse.

Retailers also could charge fees, so you might want to ask or read their website before using PayPal. 5% fee for using your PayPal balance or bank account for an international transaction.5% fee for using a debit or credit card to send money internationally.3%-4% foreign transaction fee for making online purchases that involve currency conversions from foreign retailers.2.9% fee for using a debit or credit card to send money domestically.
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