Paypal Expained

If you want to make money online, then you must have a paypal account. Many companies will pay only via paypal. Paypal is a faster way to pay and get paid online. Paypal has over 100 million accounts and is available in 190 countries. Opening a paypal account is free. You can open a paypal account by registering at paypal.com. You can receive and withdraw money from your paypal account. With paypal you can pay anyone with an email address. There are three types of paypal account. Personal, Premier and Business account.

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For most people a paypal personal account will be sufficient. You can send and receive money free using a personal account. The disadvantage of personal account is that there is a monthly receiving limit of $500 and you can’t receive a credit card funded transaction. There is a fee for receiving funds in a premier and business account. You can upgrade your personal account to personal pro account at any time. There is no limit for receiving funds in a premier and business account and you can also receive credit card funded transactions.

A newly created paypal account will have a lower transaction limit to prevent fraud. To increase the limit you have to verify your account using a credit card. If you don’t have credit card you can verify your account using netsafe card. You can fund yourpaypal account by using a US bank account or credit card. You have to verify your credit card before you can use it for sending money. Please note that you can’t use netsafe card for fundingpaypal account.

You can withdraw money from paypal account by cheque, or to your credit card or bank account. For Indians you can withdraw money to your bank account in India. There is a fee of just Rs 50 for amounts up to Rs 7000 and is free for over 7000.