What is Paypal


What is PayPal and how does it work?
Question : Answer :
PayPal is a safer, simpler way to send and receive money online.

You can pay for items you buy on eBay as well as on hundreds of other leading retail websites, or you can use PayPal to send money quickly and safely to anyone with an email address.

You can pay with money held in your PayPal account balance or use another payment method such as a credit card, debit card or your bank account.

Once you sign up for a PayPal account, you just need to select PayPal as your payment method when you shop online. Websites that accept PayPal will show the PayPal logo in their checkout. You will be asked to log in to your account with your email address and password to confirm the payment. PayPal never shares your financial information with sellers or retailers.

If you receive a payment through PayPal, you will receive an email notification and the money will be credited to your PayPal account. You can then use your PayPal balance to make payments, or you can withdraw the funds to your bank account.

It's free to sign up for a PayPal account. Fees charged are based on who you are sending funds to:

Personal payments: Payments to friends or family are free when funded by bank account or PayPal balance. If the payment is funded by credit or debit card then fee is charged to the recipient, however the sender can choose to pay this instead. Please note you must select the 'Personal' payment tab within the 'Send Money' payment flow to qualify for this rate.

Purchase payments: For payments made as a purchase of goods or services, the recipient (seller) will be charged a fee. For more information visit www.paypal.co.uk and click on the 'Fees' link at the bottom of any page.

PayPal is available worldwide and in all major currencies.