What is Paypal: how to use it and create an account

Every person who makes purchases on the Internet is faced with the question: what is Paypal? They are immediately followed by thoughts: “how to use it" and “how to create an account”.

And all because often on the Internet it is simply not possible to pay with a card of many banks. Online stores simply do not accept them, leaving only a blue button with white letters: “pay with Paypal”.

In this article, we will talk about what paypal is, how to create an account in this payment system and how to use it in general. Therefore, feel free to continue reading further or select the desired section in the table of contents below. Enjoy reading!

What is paypal

Paypal (or, in Russian, Paypal) is an international payment system that allows you to make online purchases from anywhere in the world. But, of course, they are not united by purchases alone.

Because PayPal allows you to create your own personal wallet. And already through it, make any payment transactions: convert your money into any currency, send money to any other user of the system, wherever he lives, and easily make purchases in any online stores.

In other words, Paypal is a whole ecosystem of financial opportunities that does not stop working at the borders of our country. As it happens with the activities of many well-known banks.

PayPal was supposed to be a secure service for transactions on the Internet. So that both sellers and buyers on the Internet know that their transactions are safe. That is why registering and working with paypal has many nuances. But first things first.

How paypal works

In simple terms, Paypal is a gateway between current and foreign banks. It creates a frontier platform where you can store and manage your money without regard to the internal restrictions of banks.

The algorithm of work here is nowhere simpler:

1. You create a PayPal account.
2. Go through all the necessary verifications and confirmations of your identity.
3. Top up your balance in any convenient currency.
4. Pay for purchases worldwide.

Just? Of course it's simple. In addition, the third paragraph is not even mandatory. You can not transfer your money anywhere and just link a bank card to your PayPal account.

And then the funds will be automatically used if needed. But among other features, Paypal has, for example, the ability to take a loan. However, this feature is not available in the current market.

Paypal payment system advantages

The brainchild of Elon Musk (yes, a genius had a hand in this system as well) won its place in the Internet transaction guarantor market for a reason. And all because of PayPal's approach to the personal information of customers.

But let's quickly go over the pros of the system that make it stand out from the rest.

• This is a proven international system that has been successfully operating since 2002. It allows you to work with online stores around the world from your home.
• It stores your bank card data from third parties. You don't have to squander your personal information on every site. Because it is enough to enter your username and password to use the funds through paypal.
• If you shop on sites like ebay, paypal is the safest way. Because the money remains with the service until you confirm receipt of the goods. And if there is no product, then you will return the money much faster by opening a dispute.
• Many sites only accept Paypal. Using it, you are in a better position than many of your compatriots.
• There are no additional fees for payments with Paypal. If you know the currency conversion rate, no statements can surprise you unpleasantly.

As you can see, there are a lot of pluses here. But so far there is not a word about the minuses in the article. There is one simple reason for this: the system has practically no minuses.

Yes, PayPal seems not very convenient when you are just starting to deal with it. But having studied all the functions, you begin to understand that there are practically no analogues to it. And of the minuses, only the frequent use of the system by fraudsters remains. Only they are quickly calculated if it is good to study each seller with whom you work.

How to register a paypal account

The payment platform has done everything to make the process of registering a PayPal account simple and painless. But to confirm your identity, of course, you will have to provide personal data.

So, what you need to register an account in paypal:

1. Email. It's scary to think, but many of our fellow citizens still do not have a personal electronic box. If you are just from this category, then you still have to start it. Because the only way to access your account is through email. And only there will receive notifications about all transactions.
2. Telephone number. This is about the safety of your personal funds. Two-step authorization is configured through the phone. With it, no attacker will be able to access your funds in your account.
3. Your personal data. In this case, any document proving your identity will do. It can be a passport, SNILS or TIN. But you also need to provide an address. It's all because of our legislation, which fights the terrorist threat and money laundering.

But you should not be afraid. Because your data will be stored more securely than in our pension fund. There have been no major data leaks for PayPal. And third parties cannot get to your address until you allow it yourself.

How to register a PayPal account – determine the type of your account

To start registration, go to the Paypal home page at this address – https://www.paypal.com/.

In the upper right corner you will see a white button “Open Account”. This is what you need to start registering your personal account. And as soon as you click it, you will be offered two options.

1. Personal account. Suitable for individuals who are going to use Paypal for online purchases and for international transfers. Such a wallet will not allow you to conduct business through it. Because its main goal is consumerism.
2. Corporate account. Suitable for business owners who want to start working with the international segment. This wallet allows you to receive payments through PayPal and protect yourself from numerous scammers.

In this article, we are considering registering a personal account. Therefore, we boldly choose the first option and proceed to the next paragraph.

How to register a paypal account – registration process

By clicking "continue", you will be redirected to a page with personal data. Here you must enter your phone number, email address and create a password.

Important! Create complex passwords using mixed case letters, numbers and special characters. In this way, you will complicate the task of hackers who want to guess the password to your wallet.

You will then receive a verification code on your phone. Enter it in the box that appears. After that, do the same with e-mail, a confirmation letter will come there.

These are the main stages of registration, so approach this as responsibly as possible. Check the correctness of the entered data several times. Because one small typo can deprive you of access to your account.

Paypal will then ask you to enter your full address and bank account details. All this so that you can freely use monetary resources without any restrictions. And as soon as all the data is entered, you will only have to confirm their authenticity.

To do this, the service will send you a small amount (no more than one ruble), and you will have to indicate the exact amount in a special window on the site. And that's it, your account will be ready to go.

How to use paypal for shopping

You can pay for purchases through paypal in just two clicks. Marketers don't lie here.

On the payment site in the store you need, find the “Paypal” button. It's not hard to find: it's always a big button at the bottom of the page. And then the payment algorithm is nowhere simpler:

1. Click on the pay button.
2. In the window that opens, enter the email address specified when registering the account.
3. Enter your password, confirm with a code if you have two-factor authentication installed.
4. Choose a payment method – from your PayPal wallet or from an attached bank card.

And that's all. Easier than simple, agree? Moreover, the system does not even take its percentage for such operations, for which a separate plus is sent to karma.

If this method does not suit you for some reason, it does not matter. You can always pay within Paypal. To do this, you need to find out the details of the seller, indicate them on the “transfers” page and send money.

How to withdraw money from paypal account

Of course, PayPal exists not only for paying for orders, but also for receiving transfers. This is a great help if one of your relatives lives in another country and wants to send you money. Or if you make money on a foreign platform like Patreon.

In this case, this money goes to your PayPal wallet. And the question arises of how to withdraw money from a PayPal account and send it to your pocket.

There are several options here:

• Agree with a person to pay for any goods for him. And he will return this amount to your bank card in response. Of course, you should only do this with close people you trust. Never agree to this with strangers on the internet.
• Exchangers. These are third-party services that transfer money to your account for a certain percentage. This happens almost instantly, but you lose part of your savings. This option, as you can see, is also not ideal.
• Send money to your bank account. There is no interest to pay here. But first, you must link your bank account to PayPal. This takes about five business days. The same amount of time passes from the moment the money is withdrawn from the PayPal wallet until it is credited to your local bank account.

We strongly recommend that you use only the latter option. Because it is 100% reliable and eliminates the possibility of losing money. They will definitely come, no one will intercept or detain them. This way your finances will be safe.

How to use paypal – payment limits and restrictions

Just above, we said that Paypal does not charge transaction fees. But this is only true for transactions through the internal PayPal wallet. In other words, only if you top up your balance first.

When transferring from a linked card, he still has to take a percentage of 3.4% + 10 🪙. But it's still more profitable than some conventional Sberbank, because the currency conversion rate in Paypal is less.

In addition, within PayPal there is a limit on the withdrawal of funds. It looks like this:

• 60 thousand 🪙 times a day. Unfortunately, it will not be possible to withdraw more than this amount.
• 200 thousand 🪙 per month. Therefore, it also does not make sense to scatter large sums through the system.

How to use paypal – summary

We hope that after our article, a complete picture has formed in your head about what Paypal is and how to use it in Russia.

This is an extremely convenient system that primarily values ​​your time and the safety of your money. Only for this you can start using PayPal without any long thought.