How Paypal works? Send and receive money from Paypal
PayPal is the world’s most popular “middleman service” for online purchasing. Where moneygrams and wire transfers were the standard in the 20th century, today over 99 million Internet users prefer to use PayPal to send money to each other via email. PayPal has become such a convenient and trusted way to transfer money online, 95% of eBay’s purchases go through PayPal.
Understanding How Paypal Works : This article contains a comprehensive guide on Paypal. This 10 pages guide covers several fundamental topics like:-
– What is Paypal?
– How does PayPal make money?
– What can I use PayPal for?
– How safe is PayPal?
– How do I get started with PayPal?
– What Paypal account type should I get?
– How do I set up my new Paypal account?
– How does Paypal withdraw my money?
– How do I send money with Paypal?
Sending and Receiving money from Paypal
Paypal fees are the same for all accounts – Personal, Premier, and Business.
While purchasing:- It’s free to pay. But when you are getting paid then Paypal charges you 1.9% to 2.9% + $0.30 USD + additional for cross border payments and currency conversion.
While doing personal transfer:- Free when the money comes from PayPal balance or bank account. 2.9% + $0.30 USD when the money comes from a debit or credit card or PayPal Credit (the sender decides who pays this fee).
Have a look at these links for Paypal Fees:-
Paypal Fees (Paypal Fees Structure)
Additional fees for cross border payments and currency conversion (Transaction Fees for Cross-Border Payments / Fees for receiving payments from buyers outside the United States)
Paypal is not fully supported in all the countries. Sending, receiving and withdrawing money from Paypal varies by country. Below is the full list of countries with Paypal support and features:-
Paypal Worldwide : Full list of countries where Paypal is supported. It also shows what Paypal feature (send, receive, withdraw money) is supported in particular country.
Hope this helps. Thanks.