PayPal, an online money transfer service established in 1998, has since become the primary form of money transfers, overtaking the traditional system of money orders and checks. With a total income of $7.9 billion, the service allows users to deposit, withdraw, and transfer funds with 26 different currencies globally. Peter Thiel and Elon Musk, the founders of PayPal, formed the cooperation after merging their sector-specific companies X.com and Confinity. The two firms merged to create PayPal known today: a website that grants users the ability to make financial transactions through encrypted software, which guarantees their transactions’ safety for mobile phones and desktops. Although the concept of PayPal is simple, a variety of tools, types of accounts, and transaction types are present. One such example of the widespread usage of PayPal is when making and receiving online bids on websites that host online auctions like e-bay (its parent company). PayPal also enables users who have an account to make donations, purchase goods or services, and exchange cash with friends and family.
This guide serves to help readers understand how PayPal works.
Step 1: Type in the search engine box www.paypal.com and click to access the site.
Step 2. Warning! Click the lock sign that confirms that your connection is secure.
Step 3: Determine if the text box reads “Connection is secure” in green letters.
Attention:
Some websites will appear as legitimate sites at first glance. If caution is not exercised, users could unintentionally give away private information that can allow hackers access to an official PayPal account. Therefore, it is imperative to press the lock located to the right of the URL.
Step 4: Press the log-in button- or the sign-up button if there is no account yet.
Step 5: Enter the email of choice along with a secure password and then press Login.
Step 6: Select the blue button labeled “Send,” which can be found on the right-hand side closer to the bottom corner of the page.
Step 7: Type in the name, email address, mobile phone number, or username of the intended recipient into the request bar under “Send Money.”
Step 8: Type in the desired amount of money for the transaction in the space found below the account name. Underneath the space, verify that it is the correct currency. Note that the default currency is USD (United States Dollar). If not, click on the button and select the desired currency.
Step 9: Ensure it is going to Friends and Family by clicking “Sending to a Friend” and pressing continue.
Warning! The fees are different depending on a payment purpose: detailed information is available here https://www.paypal.com/us/webapps/mpp/paypal-fees
Step 10: Make sure funds were sent with success by verifying that there is a giant green checkmark in the middle of the webpage; this will complete the process of sending funds via PayPal.
