Paypal is considered the no.1 method to send and receive money online In short, a paypal account is more likely a bank account in online world.
If you are working or selling goods online, Paypal is the best option to make transactions. As of 2014, there were 160 billion Paypal accounts registered.
Free to use
Paypal is free to use and no subscription is needed. You can send payment to your relatives with no fee. Just double check that the currency you two are using are the same or else Paypal will give an exchange rate fee to the payment. The case is different if you are a seller. The seller pays a maximum of 2.5% for using Paypal.
Paypal offers its users to choose the currency they are using and so is to use Currency Converter. However, Paypal applies fees when converting your funds to other currencies.
Verifying your Paypal account is, indeed, important if you are using Paypal to send and receive more than $200. Why does Paypal limit the transaction that unverified users can make? Paypal explains that limiting the amount of payment helps reduce fraudulent transaction due to stolen credit cards or unauthorised use of bank accounts.
Ways to verify Paypal account
You can verify your Paypal account by linking your debit or credit card to Paypal. Keep in mind that the debit cards that can be linked are either a debit card with Visa or Mastercard logo.
These are what you’ll see if your Paypal account is already verified:
Among other online wallets, I recommend Paypal because it is the most secured and convenient. I am using Paypal since 2011 and I never encounter any problem so far.
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