![]() It’s free to open a Business account and free to send money. Sign up for a Business account if you are collecting payments online for your business. PayPal offers Personal and Business accounts. Or, you can automatically transfer the amount needed from your connected bank account. You can use the balance in your PayPal account. There are two options when making PayPal payments. When you receive money, your PayPal account will hold the funds there, until you request a transfer to your bank account. How PayPal WorksĪs soon as you set up your PayPal account, you can send and receive payments online. It’s used to send money from person to person or to process business payments. In 2014, PayPal spun off as a wholly independent company.Ĭurrently, PayPal is available in more than 200 countries and supports 25 different currencies. eBay purchased PayPal in 2002 and it quickly gained wide success in the online auction marketplace. PayPal – one of the most popular payment tools today – was launched in 1999. ![]() And most importantly, which of these systems is right for your business (or personal use)? PayPal In this article, I’ll explain how each works, the pros, and the cons. PayPal, Venmo, and Zelle are three of the most popular payment systems available. As the number of options grows, it’s hard to know what payment system is the best one to use. Or, you can receive money from friends, family, or clients. With the click of a button or the tap of a finger, you can send money to someone else. Payment processing tools make it quick and easy to send money from peer-to-peer or person-to-business.
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