Hello Friends, welcome to another knowledgeable blog “Best Platform to Send and Receive Payments Internationally | PayPal 2024” of TecheFiy. Today we are discussing the most important topics of receiving and sending money internationally. Although there are many options for sending and receiving money internally, Like Swift, Internet Banking, Crypto and many more but using them is not easy for everyone.
That’s why today we are going to talk about a platform for sending and receiving money internationally, which is very easy and reliable to use. Yes friends, we are talking about PayPal, about which you must have heard or heard about yourself at one time or another. Today I will give you information about PayPal and Use off this platform with complete Guide.
A In today’s article, we will understand the process from what is PayPal to creating an account so that when you receive and withdraw money, you will not have any kind of problem.
Let us now start today’s article and understand all the information related to PayPal in detail.
What is PayPal?
PayPal is an online financial merchant company through which you can do online transactions.
Friends, I understand you with an example what is PayPal so that you can get information about PayPal in detail. Friends, if we talk about something before today, there used to be a lot of problem in making international payment. At that time there were no such platforms on the Internet, with the help of which you were able to make international payments.
Because of which many online business and freelancers used to have a lot of problem in doing international business. But as soon as the Internet developed, so many platforms and International payment gateways have come, with the help of which platforms you can do International Transaction very easily. One of these platforms is PayPal. With the help of PayPal, you can transfer your payment from your country to any other country.
With the help of PayPal, you can expand your online business. PayPal is an online portal from where you can send your money in the country and abroad. Along with money transfer, you can also do online shopping with the help of Paypal.
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Types of PayPal Account –
There are two types of PayPal accounts, one is Individual Account and the other is Business Account. These are known as Personal and Merchant accounts.
1. PayPal Individual Account –
This is a personal account that you can use to make worldwide payments.
This account is mainly used for online shopping and through this you can make worldwide payments.
Talking about security, you get the facility of 24 * 7 card protection here.
2. PayPal Business Account –
This is a Fully Fledged Account within which you can send and receive payment from country and abroad.
Inside this you also get the option to create and track Invoice.
Required things to create a Paypal Account –
To create a PayPal account, you will need the following things.
1. E – Mail Account
2. Desktop Computer or a Mobile Phone With Internet conection.
3. Bake Account Details. ( Bank account details of the person in whose name PayPal account is to be created )
4. Pan Card
5. Debit Card or Credit Card
How To Create PayPal Account –
Now let’s talk about how to create PayPal account Stepe by Step Process :-
Step 1 :- First of all, you have to type PayPal in the browser of your phone or desktop and click on Search.
Step 2 :- Paypal’s website will come in front of you, you have to open it.
Step 3 :- On the homepage you will see the option of Signup Now, you have to click on it.
Step 4 :- Now 2 options will come in front of you, Individual Account and Business Account (Choose Business Account to receive International Payment)
Step 5 :- After choosing Business Account, you have to click on Next.
Step 6 :- Now you will get 3 options here, you have to fill it carefully.
For example, in Accept Payment, you have to select Market Place and Freelancer.
In Monthly Sales Volume you can choose less Than 5 Lacs and in Payment Preference you can choose Inr and Foreign Currency.
Now you have to click on Next.
Step 7 :- In the next page, you have to fill your email address and click on submit.
Step 8 :- Now you have to create a strong password for your email address and submit it.
Step 9 :- Now you will see the page of Describe Your Business. Here you have to click on Individual.
Step 10 :- Now you have to fill your Product, Purpose Code, PAN Number and Website URL here and click on Submit.
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Fill Business Information In PayPal –
Friends, after filling the above details, a new page will come in front of you where you will have to give information about your business.
Here you have to fill your Name, Date of Birth, Address, Phone Number and Primary Currency.
Finally, you have to click on the terms and click on Agree and Continue.
Now your PayPal Account is created.
How To Setup Account On PayPal –
Friends, after creating PayPal account, you will have to set-up your paypal account. You cannot receive payments internationally without an account set-up.
You have to setup your account so that you can receive your international payment.
1. Verify our E-mail With PayPal (E-mail Verification) –
Friends, the first step comes to account setup, you have to verify your email address.
To verify email address, you have to open your email account.
Here you will have received an email from PayPal. You have to open this email and click on the option of verify account here.
Your email will be verified.
2. Payment Method Setup –
Friends, now you have to setup payment method for your PayPal.
For this you must first see the option of Online Invoicing. You have to select it and click on Continue.
Now the option of Create an Invoice will come in front of you. You have to click on it.
Now a page will come in front of you where it will be written Complete some Steps to Get Invoice, you have to click on start here.
Now you have to select the bank account here and click on Verification.
In the next page, you have to link the bank account by filling your bank account information.
3. Verify your Bank Account in PayPal –
After submitting your bank account details, Paypal send some small amount in your bank account to to verify your bank account and details.
You have to verify your bank account on PayPal by send amount, fill this ammount digit in PayPal Bank Account verify page and click to verify.
So, friends, now your bank account has been linked to Paypal, now you can send and receive money from here.
How to Send Money by PayPal –
Friends, to send money from PayPal to any other person, first you have to open PayPal in your browser.
In the home page, you will see the option of Send and Receive. You have to click on Send, a new page will come in front of you.
Now you can type the name, email address or mobile number of whomever you want to send money. Now a new page will come in front of you, here you will see the option of You Send and Receive.
Inside You Send, you have to type all the money you want to send and click on Continue. Now the option of Send Payment Now will come in front of you, you have to click on it.
You have successfully sent money.
How to Withdraw Money from Paypal –
Friends, to withdraw money from PayPal, you have to first add a bank account to your PayPal account.
For this, you have to install PayPal’s App in your phone and login. Now you have to come to your homepage and click on Settings.
Here you will see the option of Add Bank Account, you have to click on it. You will get 2 options Add Bank Account For Withdrawal and Add Bank Account For Payments.
You have to click on the Withdrawal one and fill the basic details of your bank. Now you will see an option below, you have to click on it for Set Automatic Withdrawal.
With this option, your payment will automatically come to your bank account in 3 to 4 days. Finally you have to click on link bank account.
Now your payment will automatically start withdrawing into the bank account.
Benifits of Creating PayPal Account –
1) You can do International Transaction from Paypal.
2) You can do money transactions with the help of PayPal.
3) Money transfer is secure on PayPal.
4) With the help of PayPal, you can also do online shopping.
5) With the help of PayPal, you can also grow your online business.
Disadvantages of Creating PayPal Account –
1. If your account violates PayPal’s policy, your account will be frozen by PayPal.
2. If your PayPal Account gets frozen then you cannot withdraw money from your PayPal Account.
QNA – Best Platform to Send and Receive Payments Internationally | PayPal 2024
Q.1) What are the types of PayPal accounts?
Ans – There are two types of accounts on PayPal Personal Account and Business Account.
Q.2) Is it free to send and receive money on PayPal?
Ans – No, receiving and sending money on PayPal is not free. Paypal deducts the charging commission from the amount sent or requested by you.
Q.3) What is a disadvantage of PayPal?
Ans – This is a very big international money transaction portal.Because of which it is always in the eye of online fraudsters.
Q.4) Are bank account details required to create a PayPal account?
Ans – No, you don’t have to required bank account details to create a PayPal Account. But in order to transfer money by your PayPal account to your bank, you need to link your bank account in PayPal.
Q.5) Is bank account number required for money transactions on PayPal?
Ans – Paypal account is created from g-mail, so you do not need a bank account for money transaction on paypal, Money is transacted on Paypal from your email address:
Q.6) How to use PayPal to receive Money?
Ans – To ask for money on Payal Pal, you have to tell your email address to the sender of the money. Money is sent to your PayPal account only through your email address:.
Q.7 ) How to use PayPal to Pay Someone?
Ans – To send money on PayPal, you have to go to Money Send Opinion and fill in the e-mail of the person to whom you want to send money. After that you can send money by entering the amount and clicking on send botton.
Q.8) How does Paypal work with bank account
Ans – You have to link your bank accounts on PayPal, after which PayPal verifies your bank account. After verifying your bank account on Payal, you can do money transactions on Paypal.
Conclusion of Best Platform to Send and Receive Payments Internationally –
Friends, I hope you have found today’s article “Best Platform to Send and Receive Payments Internationally | PayPal 2024 very informative. In today’s blog, we have learned what is PayPal, how it works. What things are required to create a Paypal account? And today we have also learned how to link bank account on PayPal. Also learned the process of money transaction from Paypal. If you got some value from this blog post then please share this post with your friends and family. See you in a next informative blog, Have great time’
Thanks –
Hey, I’m MS Bakore, the Founder of Techefiy.com! This site is dedicated to technology, tech tips, how-to tutorials, tech news, blogging skills, social media tips, tech trends, and more. Check out my latest posts and join the community at Techefiy.com!