PayPal is a digital wallet that allows individuals and businesses to pay for items online, send or receive money using a secured internet account.
It is an online payment platform that was established by Max Levchin, Peter, Thiel Luke, and Luke Nosek in December 1998 as coffinity, but later switched its focus to a digital wallet.
The first account of the PayPal electronic payments system was launched in 1999 but became officially obtainable to Nigerian residents in July, 2014.
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FEATURES AND BENEFITS OF PAYPAL ACCOUNT
PayPal is the leading digital currency worldwide, this can be attributed to its strict financial regulations, and High-tech security.
The platform has no transaction fee.
PayPal offers her services and solutions to both personal consumers and businesses at low-cost.
Other services offered by PayPal include P2P payments and debit card accounts.
PayPal offers 24/7 monitoring, and uses a secure encryption technology to keep financial information safe.
It also offers fraud prevention and purchase protection to customers who never receive their purchase, easy withdrawal with either a Bank or Credit Card
It allows users to shop globally via the use of Multiple currency and automated Conversion Process.
PayPal validates all information to ensure the account set up is done by the rightful owner before the service can be used.
PAYPAL ONLINE MONEY TRANSFER/ HOW TO SEND MONEY ON PAYPAL
PayPal money transfer is easy, fast and secured.
With Xoom PayPal service, users can send and receive money locally and internationally.
Recipients don’t need to have an account with PayPal. There are basically two types of account on the platform: personal and business
However, you require a few things such as; a valid email address, debit or credit card, bank statement etc. to carry out a transaction on the platform.
To create a PayPal account, a valid email address is mandatory
PAYPAL SIGN UP/ HOW TO CREATE A PAYPAL ACCOUNT
PayPal account creation is free and quite easy, all you need is a valid email address and a valid Visa or Master card linked to a bank account.
A small amount of money will be debited from the card and once the transaction is confirmed, your account will automatically become valid.
If you don’t have a valid email address Click Here.
To create a PayPal account follow the step by step guide below;
- Visit www.paypal.com
- Select the type of account you want- Personal or Buiness and click Next.
- Input your name, email address and password, then click Next.
- Fill in your address, and other required information and click continue.
- Click Get started button, and enter your credit card details, and click Add card.(Optional)
- The next is to log into your email and verify your account by clicking on the link in the mail sent to you by PayPal.
If you have done all the above, congratulations! You have a PayPal account set up.
HOW TO INSTANTLY LINK YOUR PAYPAL ACCOUNT TO YOUR BANK
Having set up your PayPal account, the next step is to link it to an existing bank account that you can use for transactions.
But before you do this, ensure you have verified your PayPal account.
To link your PayPal account to your credit card, the following information is vital;
Your PayPal account username and password.
Your bank name, account and routing number
Your online banking username and password
Having all these ready, simply log in to your PayPal account.
Tap the Wallet Link on the top of the page. Tap Link a bank.
Select your bank or I have a different bank , if you can’t find your bank.
Depending on the bank you select.
If your bank is among the ones listed on the page, you’ll be able to link your account directly without having to type your account and routing numbers.
You will be redirected to where you will enter your online banking login information
If you selected “I have a different bank” above, you will be required to enter your bank details manually, after that click the “Agree and Link”.
If you entered your bank account information manually, PayPal will make 2 small deposits into your bank account within 3 days.
Confirm the deposits from Paypal as soon as you receive itit.
HOW TO CONFIRM PAYPAL VERIFICATION DEPOSIT
Log in to your PayPal account.
Click “Wallet” on the top of the page.
To confirm the deposit, select the bank account you want to confirm, then click “Confirm”.
Enter the exact amounts of the 2 deposits made in your account, and click “Submit”.
Your Paypal account is ready to be used for transactions.
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