PayPal – 7 Advantages and Features of PayPal

Everyone knows PayPal because it is a popular online payment system. It lets you shop online without having to re-enter your user information for every transaction. PayPal is secured and can be used to transfer money to and from a bank account. 

There are also incredible advantages associated with it especially being fast and easy to set up. Some of the advantages are listed below;

7 Advantages and Features of PayPal

  1. Allowing users to transfer money to local banks and debit cards.
  2. It’s integrated with an Online Auctions feature, which is good with eBay for placing bids and making purchases.
  3. It’s flexible. There’s nothing like credit card declined, you can always set up multiple bank accounts or credit cards and debit cards to fund your account anytime.
  4. Your credit card information is secured when making transactions, you only have to enter it once during your registration, your card information is never disclosed to anyone.
  5. Has an iPhone and Android App. You can download the Android app here.
  6. PayPal sponsors special discounts at some selected retailers for customers that shop with PayPal.
  7. It is cost-free, that is, It requires no annual registration fees, no processing fees or service charges.

PayPal

 

How to use PayPal to Send Money to your Local Bank

Once your account is connected, transferring money to the local bank is an easy process. But this will attract a percentage service charge. As of the time of preparing this article, this is the only charge from PayPal services. Below are the guides to use PayPal to transfer money and perform other activities.

The following steps are guidelines to make a transfer to the local bank.

STEP 1 – Visit the PayPal official website from your system, or open the PayPal App after download from your mobile device.

Step 2 – Click on Sign up, or enter account information to sign in. You can create an account from the PayPal homepage if you’re visiting for the first time

 

 

Click on Transfer Money (below current account balance)

Two options are displayed to you, select Transfer PayPal to a Bank.

Instant simply means that the transaction processes with a charge fee of one percent of the transfer.

OR opt

Standard also means the transfer process is free, but it takes 1 (one) business day for implementation.

On the next display, select a destination for the transfer. Either to a linked bank or debit card.

Next, you enter the total amount to transfer.

Your current balance will be displayed, above the transfer, the destination will be displayed also. Confirm this by clicking on Next to continue

You are asked to confirm the process as it shows you your PayPal transfer amount including the deducted fee. Click confirm to proceed.

PayPal will then send a confirmation message, notifying you that you request is processing

Once you get a message, you may want to check your summary from your profile. Confirm the current balance by subtracting the total transferred from the percentage change from your previous balance. However, PayPal will also email you confirming your transaction to the email used in registration.

Finally, wait patiently for alerts and once you get one, then congratulations your transaction was processed perfectly.

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