- Member Since: February 19, 2021
Advantages of Using a PayPal Account
So you're ready to do business online. If this is the case, then a PayPal Account is an essential tool for completing any fiancial transactions whether personal or business related. There are plenty of other online solutions for making and receiving payments online and by all means, check them out. However a major advantage of having a PayPal Account is that PayPal is a very well known online provider and is trusted by millions of internet users worldwide.
I found the signup process for my PayPal Account to be quite simple and fast. All that is required from applicants is name, address, email, telephone number, and either bank or credit card details for verification.
You will find that there are three main PayPal account types, Personal, Premier or Business account. PayPal actually allows you to hold one personal account, and either a business or premier account.
On your initial sign up, you can opt for the free personal account, and you can always upgrade to a business or premier account at any time. You will find that the personal account maybe the easiest to initially grasp but this type of account can also be very restrictive (from an online business point of view).
You will also find that with a business or premier type account you can choose a name other than your own name for this account. This is actually a huge advantage, as your personal name will not appear on any online transactions, for your privacy purposes.
You will also find it quite easy to transfer bank back and forth from your PayPal account to your personal branch account, once you have had them linked. Normally it takes 5 - 7 days to transfer money between them and its also free to do so.
Another advantage which I love is the very high security measures they enforce in order to protect both you and your customers details. Always when setting up any account online, make sure you consider your password. Make eth to paypal and personal to you only. Especially in regards to a PayPal account, as this will handle all your financial transactions and control all your balances.
Another great benefit of using PayPal as your online merchant, is that absolutely none of your financial information will ever leave PayPal, for example if you use your account to make a purchase, the receiver of the payment will just see PayPal Transaction and none of your details. This is one of the main reasons why they are so trusted by millions of users worldwide.