The PayPal concept explained simply
PayPal is a financial service provider, Bank Transfers and payments from Online-enabled purchases for free. Comparable with a digital wallet you can pay with your Paypal account online. The money is going to be debited from your checking account. This is especially useful when a purchase order is not accepted on invoice. Simply put, Paypal is a virtual Online wallet that you can use in contrast to "real" money exchange in the network.
- Payments by PayPal are well-established in the Online payment and accepted this very often as a form of payment.
- The use of PayPal is for private individuals is completely free. Like all of the other payment provider, PayPal, requires for each transaction a fee from the dealer and deserves his money.
- PayPal offers a very high level of security, since you do not have to specify when you pay with your Bank account data. They exchange a purchase, no Bank details with the dealer.
PayPal, explains that The digital wallet (image: Screenshot)
And so a does PayPal work Bank Transfer
Transactions carried out by PayPal, to run completely on internal accounts of PayPal. This has the advantage that your Bank account or credit card data will remain completely in front of the receiver is hidden. PayPal to pay your invoice by the seller through a company's own account and the "borrowed" money from the Bay, then from your account. How to use Paypal, read here.
The PayPal buyer protection for secure payment
PayPal offers a so-called buyer protection for Online orders that were paid via PayPal. You have, for example, receive a wrong item or no goods, can help you of the PayPal buyer protection.
- First of all, you can contact via your PayPal account to the seller with your concerns. This is not answering or he is unreasonable, we will refund the full purchase amount including shipping costs from PayPal back.
- Another Plus: For the case of cases, PayPal also promises to refund all not authorised by you and payments to your account.
- The buyer of protection raises and PayPal, many other payment providers. Thus, you can also order safely on websites to trust it 100 percent.
PayPal Transfers from Private to Private
For some time, you can not only shop online through PayPal, but also in private money to send and receive. For you and the recipient only need to have a PayPal account.
- In many cases, the e-Mail address or the mobile number is already sufficient to send the recipient money. Alternatively, each PayPal can create-users also have a personal Link that initiates the transaction.
- From one Cent up to several Hundred Euro, you can send PayPal all the amounts to friends and Acquaintances. The money arrives within seconds to the recipient. This will be notified by Mail of the receipt. There is no cost to you.
- The received money lands on the own PayPal account. There, you can just let it rest. The next time you purchase via PayPal, the balance will be used automatically. Alternatively, you can have the funds anytime to your Bank account. This usually takes two to three working days.
Money via PayPal send it to friends, (image: Screenshot)
Payment after 14 days
- Now PayPal provides its customers with further benefits. Many Online stores PayPal offers a completely free deferral of the payment. On request, PayPal will charge the money only after 14 days.
- This is especially helpful if you order clothing or other items they send, under certain circumstances, completely or in part. This will only be charged after 14 days the amount that you really need to pay. You don't have to wait, therefore, also to the fact that you will get your money of the returned goods.
- Through this 14-day postponement of the payment to PayPal and the users reach, mainly on account of order, and makes services such as Klarna direct competition.
Read everything about PayPal and fees in the next article.
