Among the many electronic payment systems existing on the Internet, the largest and most reliable - PayPal stands out. What is PayPal and how to use it, are payments really fully protected? For the vast majority of people, this is not in doubt, but at the same time they are slow in registering, voluntarily limiting themselves to the possibilities that the system provides. For an inexperienced user, PayPal seems to be an extremely difficult service, but everything is not so scary in fact, and it is worth spending a little time and sorting out, because the advantages of the system are really great.
The emergence of the PayPal payment system
Her work is unique in her own way. Despite the fact that this is not a bank, but a debit system, it is subject to all laws in force in the banking sector. The company's activities are licensed in many countries of the world. In Australia, for example, the company received a special banking loan and savings license.
PayPal Corporation appeared in March 2000 and in a short time managed to gain the trust of customers. Perhaps few similar companies have invested in customers as much as PayPal did. What have they done to win the competition? In its own way, a unique and aggressive strategy that required large investments - $ 20 was offered for each attracted client.
Initially, the system was focused on electronic auctions of the no less large company eBay, which, two years after creation, absorbed PayPal. This coordinated work lasted quite a long time, and only at the beginning of 2015 the companies split again. In the competition for the international electronic payment market, PayPal has become an absolute leader.
Benefits of a Payment System
Users who have been PayPal fans for many years highlight several main advantages, and first of all, reliability and speed of payments, regardless of the country in which the counterparty is located.
Of course, compared to many other systems, PayPal is the most rigorous. What is, for example, a dispute between users if a transaction is not completed? The dispute between the buyer and the seller allows us to come to a solution that would suit both, but if the parties do not agree, then the dispute becomes a claim, which will be considered by PayPal employees. Such tools really scare away some users, but it is precisely these difficulties that are designed to ensure the security of transactions. Thus, limitation turns into an advantage.
It is PayPal that makes it possible to conduct various kinds of transactions without bank transfers or currency exchange. However, the exchange will have to be carried out if you need to deposit money into a PayPal account or withdraw funds to a bank card.
Features of using PayPal in Russia and CIS countries
Different countries have a different status in the system with tolerances and restrictions. Until recently, the Russian PayPal was different in that it was only possible to deposit funds into the account and pay for purchases through the Internet with its help. In particular, for purchases on such major resources as eBay or AliExpress. But it was not possible to withdraw the funds received from the system. Similar restrictions to varying degrees have all CIS countries. However, most recently, Russia received an increase in status, and now Russians have the opportunity not only to pay for purchases, but also to withdraw funds to the card.
Things are somewhat worse in Ukraine and Belarus. Kazakhstan has recently joined the system and is also in the zone of functional limitations. It is likely that in the near future the inhabitants of these countries will also have expanded opportunities. After all, if we consider the payment system precisely as a tool, then among the most convenient mechanisms that expand the borders, there will be PayPal. What is a relatively short wait compared to the ability to send and receive payments with lightning speed almost all over the world?
Sign up for PayPal
To start using the system, you need to go through a simple registration. This is a free service, no separate payments need to be made. It is important to know that during registration it is necessary to provide your real data, if you enter them with errors or come up with an alias, then during verification the account will be recognized as fake and as a result it will be blocked. That is why any instruction on how to set up PayPal without entering real data is obviously wrong and can lead to account blocking.
Before registration, you need to decide in what status you want to work with the system: as a buyer or as a businessman. A normal customer account is issued for free, subsequently there is the opportunity to go to the next level, if there is such a desire.
After choosing a country and user status, you will need to enter an e-mail address, password and postal address, and you will also need to attach a bank card - this is how PayPal works. How to use a payment service? This is possible only through an attached bank card, which must be opened in the name indicated at registration.
Bank card binding
Another important step necessary to get started with the system is linking your bank card to your account. This is done so that you can use the money in your account to pay for various goods and services on the Internet, it is on this card that you can withdraw money from the system.
You need to enter the number, expiration date and code located on the back of the card. After that, the system will begin its verification. It is desirable that this was not a credit card, but a debit, that is, a payment. PayPal withdraws a small amount of money from the card to verify the very possibility of contact and transfer funds. Usually this is $ 1.9 and this is not a service charge. After the cardholder confirms that the withdrawal of money is made with his knowledge and is quite legitimate, the card is considered confirmed, and the funds are returned to the bank account.
Payment for purchases and receipt of payments
The most convenient thing in this system is that the interface is as customer-oriented as possible, it is really friendly. The simple design is intuitive, when registering, the necessary language is set, so for a Russian-speaking user without knowledge of English there are no difficulties. Setting up PayPal allows you to send money in just a few clicks. You do not need to enter funds into the system separately, PayPal connects to the attached card and takes them from it.
To send money to another user of the system, you only need to know its identifier, that is, an email address. An important nuance: Russian citizens can only send rubles in settlements, with other countries the calculation is in dollars.
To receive money within the established monthly limit, it is not necessary to register as a businessman or a commercial company, this is required only if within the limits of the limit it becomes crowded and a more dense turnover of funds is needed. Money is transferred almost instantly.
PayPal Features: Limits and Security
The limit of funds that can be used in PayPal depends on the level of account verification. If you use an unconfirmed account, the user can spend or accept no more than 15 thousand rubles or the currency equivalent of the specified amount per day. The monthly limit on the flow of funds in the account is 40 thousand rubles. For security reasons, PayPal places such restrictions on users . How to use more freedom and expand the limit? Just go through the verification of your account.
There are two types of verification in the system: simplified and full. After passing the simplified limit, it increases to 60 thousand rubles per day and up to 200 thousand per month. Full verification makes it possible to send a one-time payment of up to 550 thousand rubles, this greatly expands the capabilities of the user.
How do I go through a full account verification?
To get maximum financial freedom in the system, you must fully confirm your identity. Here is an up-to-date list of information that a PayPal user provides for complete identification; the instructions are extremely simple:
- passport data;
- Telephone number;
- state registration number of your choice (personal bank account insurance number, TIN, compulsory medical insurance policy number).
Similar user identification schemes are available in almost all fairly large payment systems.
PayPal Commission
When sending money transfers, PayPal service charges a fee depending on the amount transferred. In order not to be surprised at the increased expenses after the completion of the transaction, it is recommended to clarify the full amount of the payment, that is, together with the commission.
You can pay something in rubles, that is, within Russia, or send a money transfer within the country without a commission, but subject to the use of funds that are in the internal PayPal account. If the system must take funds for a money transfer from a bank card, then the commission is 3.4% of the transfer amount and 10 rubles for a single transaction.
When transferring abroad, an additional fee is charged. Depending on the country of the recipient, the commission is from 0.4% to 1.5%. However, it is possible to choose a payer of the commission fee, it can be paid by both the sender and the recipient of the transfer. During any operation, the system will offer you to familiarize yourself with the list of commission fees.
Additional transaction security guarantees
As part of the fight against fraudulent schemes and consumer fraud, PayPal provides for a payment lock until the buyer confirms receipt of the goods. Only after this, the seller gets access to his profits. This may seem unnecessarily strict to some, but the reviews on PayPal confirm that this approach is fully justified. If the buyer has not received the goods or if he does not meet the declared description, he has the right to challenge the transaction within 45 days.
Cash withdrawal
Until recently, in Russia it was not possible to withdraw money from the system, so many Internet services appeared that offered this service on a paid basis. The commission for such a deal is quite high, so when setting up a business on the Internet, this had to be taken into account. At the moment, the exchange sites are used by citizens of other CIS countries, if there is a need to receive money in their bank account or in another payment system from PayPal. User reviews confirm - the services really work, but the commission is not happy.
However, at the moment in Russia there is an opportunity to withdraw money to a bank account without interest and any overpayments. It is enough to select the menu item "Withdraw funds", the system itself will offer your bank account. The only inconvenience - the operation takes 5 to 7 business days. In this case, a notification is necessarily sent to the e-mail.
PayPal is no big deal - expand your options!