What is Paypal, how can I register a bank card in PayPal?
If you want to buy on-line paypal is a key because you’ll need an intermediary between you, the bank in which you have the money and the seller sells goods / services from the Internet. Paypal is actually a virtual wallet that collects all bank cards in a safe place and then from this wallet you can purchase on websites. Paypal also help you solve some of the problems that may arise during Internet purchases as follows:
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- Your card is accepted wherever paypal is accepted, No need to worry if you don’t know if your card will be accepted or not online.
- Security for you – Actions online with paypal are safe as bank card details can not be stolen during online shopping. Indeed since the record bank card paypal can leave aside (if only for Internet use) because you will not need its numbers for use on the Internet. Also paypal protects you even if you have problems with the product etc..
- Good management of all actions with different cards in a single paypal account
How Paypal works?
Paypal is actually kind of a financial broker, which allows people to exchange money through e-mail addresses. At no point neither side sees the other party’s financial records. Money goes from buyer to seller (which gets paid), that’s the main thing of paypal.
Similar to a service “Escrow” act as an intermediary and money holder. Through policies, its practices and business integrity, PayPal has earned the trust of both parties. With many types of guarantees, buyers and sellers trust their credit cards and debit records to Paypal
What do you need to open an account in PayPal?
You will need:
– an email address
– Credit / Debit Card
For this reason that PayPal is easy to use preferred by millions of people around the world.
Is this service free? What paypal wins in this situation?
Yes, this service is free if you only want to buy on internet. Paypal will not keep you any commission, ever during your purchase. But PayPal charges a commission for sellers, who pay from 1.9% – 2.9% plus a fixed commission. So if you want to sell through you website will pay such a commission.
Paypal recently also keeps you a commission for converting currencies (also called dynamic currency conversion), but this is another issue that will be addressed in a separate article.
What can I use Paypal for?
1. For buying on EBay or online. Paypal account is your wallet to buy for things in internet and the transaction is kept from your card. Paypal actually checks if you have funds available in that moment that you want to buy online, and then authorizes your the card . For online purchases follow instructional videos : Si mund të blihet në eBay
2. For Selling online. You can sell goods online through your site or to open an eBay account and then list your products in this virtual marketplace .
3. For Sending Money. If a friend of yours has a Paypal account , you can send or receive money via email address . Steps are quite simple , you choose your username and the amount you want to send and the transfer is done immediately, from your card registered in Paypal to the registered card of the other person . Do not forget that sending money in Paypal has commission , as mentioned above .
How safe is Paypal?
Paypal is so safe and strong as you password is. I don’t want to go in details of the security features why millions of people trust their transactions on Paypal (god help us if something happens to PayPal), but details are the one that will make you losses or creates problems, and by details I mean strong password. Think as the password strength is the key of all your cards, here are some tips :
– Use long Password, hard to find, but at the same time easy to remember. Example: “Iwent@college&20friends”
– Change your password often, or parts of it, not only periodically (recommended 1 month) but always when you use your account at any internet cafe or a computer to a your friend.
How to register your card in paypal?
– First you need to open an account (Personal Account, Premier or Business Account)
– Then you enter your details like home address, work etc.
– Register a card in Paypal and enter card details, please be careful to enter correct card number, expiry date and 3 digit CVV code behind your card.
You are done. (not yet actually)
Paypal needs to verify that you are the owner of the card and you have access to your card account in the bank. It sends a transaction in your card account which is latter credited at the first purchase. What is important is that in the description of that transaction paypal sends a 4 digit code which later you need to enter in your paypal account to verify your card. The code looks like this in your bank statement 190 LEK / PP*8589Code your code is 8589
During this step Paypal Authorizes your card, so at the moment you are registering your card in Paypal please check the below:
– Is your card active ?
– If it is a debit / prepaid card, do you have available funds in your account? (Since Paypal will initially charge your card you need to have some funds)
After you enter this code in your online paypal account the set up is finished you are ready to user your card to buy on-line.
How can I receive money through PayPal?
Besides the fact that money can be exchanged through email accounts registered in PayPal, for many reasons other reasons you can receive credit transactions, so to receive money in your PayPal account . This can happen in cases like :
– You cancelled a purchase , the merchant / website sends you back the money in your Pay Pal account .
– You are an individual who sells goods online, etc.
– You receive a payment for your services , for example if you are a freelancer, or win in some on-line casino etc. .
If you receive a credit transaction, it will be added to your paypal account balance . Be careful because this credit balance is not automatically transferred on the card as other actions.Such amounts will accumulate in the virtual balance in Paypal and you will have surplus in your account. Usually the beginning of each month all the available funds (credit balance) is automatically transferred to your main linked card. If you like you can also use this credit balance through paypal to purchase goods / services.
This is more or less what is Paypal about. There are also others offering the same service but Paypal is the number one in internet, and it is indeed the most trustful one. In case you have any questions drop your comment below. Support us by spreading the word in Facebook!