Friday, November 5, 2010

Getting a Paypal Account

Online shopping has definitely been made easier thanks to the help of Paypal, but some still remain wary of using it because of the fear of charges. Here's one thing I can assure you: if you're only using your Paypal account to pay for something, there are NO CHARGES. But if you're an online seller, there's a certain amount fixed for withdrawing from your Paypal account.

Why do I use Paypal? The answer is easy: ITS' SAFER.

With PayPal you can:
Shop online in more than 190 countries and regions.
Pay for things and send money without sharing your financial information.
Checkout quickly at hundreds of your favorite online stores (not just eBay!).
Accept credit cards on your website.
Make donations to your favorite charity.
Set up an online shop and receive payments.
Use your credit card and earn rewards.
The trouble with shopping online is the "unsafeness" of it all, you reveal sensitive financial info to people you do not even know. Paypal helps by hiding that info so you are more secured in your transactions. Here's a quick 3-step process of getting your account:

STEP 1: Signing up: Click on the SIGN UP at the top of the screen.
STEP 2: Choosing your Paypal Account: Click on PERSONAL if you're only using the account to pay for your shopping online.
1) Personal: Recommended for individuals who shop and pay online, or wish to send or receive personal payments for shared expenses such as splitting of dinner bills or rental charges. We don't recommend that sellers open a Personal account to receive online payments, as the transaction fees are higher.
2) Premier: Recommended for casual sellers or non-businesses who wish to get paid online, and who also make online purchases.
3) Business: Recommended for merchants who operate under a company/group name. It offers additional features such as allowing up to 200 employees limited access to your account and customer service email alias for customer issues to be routed for faster follow-ups.

STEP 3: FILL OUT YOUR INFORMATION. Fill everything out, don't miss a single item.'re done! After signing in, your status will still be UNVERIFIED. But if you use a credit or debit card to set up your account, you will receive an email where you need to confirm your account, and then your credit card will also be confirmed.
If you're wondering whether your credit card offers this service, call the Customer Service of your bank and ask them first.

1) Are there fees to open up a Paypal account?
Its free! BUT here's the thing: after you sign up using a credit card, an amount will be automatically charged to your credit card bill but Paypal will refund that amount to your account (NOT DEBIT TO YOUR CARD, REMEMBER THIS!) which you can use for future payments. Ask your credit card company how much the fee is.

2) What currency am I charged?
In DOLLARS. Paypal has its own conversion system: you can choose between the conversion of the seller OR Paypal's own. I suggest choosing the latter so it's more uniform. You're also more unsure if you choose the former what the final amount charged would be.

3) Can I only use Paypal if I have a credit card?
DEFINITELY NOT. You can still use it as long as you have a bank account. Please inquire with your local bank if you can do so, but you should have no problem because this service is open to the Philippines.

That's it for now, I hope you guys learned something from this mini-tutorial. Let me know if you have any questions and I'll try to answer the best that I can from my experience. Remember, research is always the best way to answer your doubts! Good night!


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