Advantages of using Paypal: what makes it stand out from other means of payment?
PayPal has become a very popular means of payment. There are many people who use it when sending money, and the companies that include it among their payment gateways. If you want to know what are the advantages of using PayPal , we explain them all below:
He would first try to get both of them to reach an agreement , and if this was not possible, the buyer could make a claim to get his money back.
The causes to claim may be that what you bought has not been received , or that what arrived was not what you expected .
The PayPal Resolution Center can be used up to 180 days after making a purchase.
In addition, you do not have to enter your bank details each time you use it, and the transfers arrive immediately , unlike what happens in some banks with international transfers.
However, you should keep in mind that you have to wait two days to withdraw that money from PayPal.
It must be taken into account, however, that a commission must be paid for this . To find out what it is, you must follow the following steps:
Log in to PayPal and go to "My Portfolio" .
Click on «Currency calculator» , under the different currencies.
Once you are on the next page, you will be able to see the exchange rate that corresponds to the currency you have selected.
It is an application with a very easy and intuitive use . As with the website of this platform, to make a payment you only need the email or mobile number of the person who has to receive it.
This application also allows you to make payments completely free of charge to people who are within the European Union.
The person who wants to use this platform only to buy can use it without paying anything at all, unless a currency exchange has to be made.
If a claim has to be made, PayPal keeps the customer informed throughout the process, and tries to resolve the problem within a maximum of one month .
If it is a particularly complex situation, it may take longer, but the user will still have all the necessary information until the response arrives.
But things change when we talk about sellers, since they do have to pay a fee when they receive payment for the sale.
However, it must be taken into account that it will be a small commission , and that it will decrease the more you sell.
Therefore, if at any time you want to unsubscribe from any of them, you will have to deactivate the payments manually so as not to make any disbursement for them.
To deactivate automatic payments you have to enter "Settings" , then "Payments" and finally "Manage payments with prior approval" .
You must enter "Summary" , and then in the "Bank accounts and cards" section . Then you have to click on “Link bank account or card ”.
Users who have completed this verification are less limited in the amount of money they can send or receive, and pay lower fees .
To avoid this type of problem, you must save all the supporting documents to be able to provide them to PayPal if a claim is opened by a buyer
So far the advantages of using PayPal , and the disadvantages that this platform also presents. In general, it is a very well-received means of payment among users, because despite the fact that it has some negative points, it is an easy-to-use tool that works quite well.
1. It is a safe method
Buyers are protected in PayPay against sellers, since this platform mediates any problem that occurs between the two.He would first try to get both of them to reach an agreement , and if this was not possible, the buyer could make a claim to get his money back.
The causes to claim may be that what you bought has not been received , or that what arrived was not what you expected .
The PayPal Resolution Center can be used up to 180 days after making a purchase.
2. It is very easy to use
You simply have to associate a means of payment to PayPal to be able to start making purchases online in all those pages that accept this platform, so using it is very simple.In addition, you do not have to enter your bank details each time you use it, and the transfers arrive immediately , unlike what happens in some banks with international transfers.
However, you should keep in mind that you have to wait two days to withdraw that money from PayPal.
3. Allows currency exchange
PayPal gives you the ability to convert currencies on the fly . If, for example, you make a sale to a person who is in London, the buyer can send you the money in sterling, and it will be changed to euros without any problem.It must be taken into account, however, that a commission must be paid for this . To find out what it is, you must follow the following steps:
Log in to PayPal and go to "My Portfolio" .
Click on «Currency calculator» , under the different currencies.
Once you are on the next page, you will be able to see the exchange rate that corresponds to the currency you have selected.
4. It has a mobile app
To use PayPal you can download a mobile app, and thus carry out all operations through a smartphone .It is an application with a very easy and intuitive use . As with the website of this platform, to make a payment you only need the email or mobile number of the person who has to receive it.
This application also allows you to make payments completely free of charge to people who are within the European Union.
5. It is completely free for the buyer
By using PayPal the buyer does not have to pay anything for the transaction. Nor will you have to pay anything to register in the system, or for other additional services.The person who wants to use this platform only to buy can use it without paying anything at all, unless a currency exchange has to be made.
6. Their customer service works very well
In fact, it is known that this is one of PayPal's strengths . There are two ways to access PayPal customer service: send an email or call by phone .If a claim has to be made, PayPal keeps the customer informed throughout the process, and tries to resolve the problem within a maximum of one month .
If it is a particularly complex situation, it may take longer, but the user will still have all the necessary information until the response arrives.
Sign up for Paypal: how do I open and start using my account?
To open an account follow these steps:- Go to the home page at www.paypal.us .
- Click Create account .
- Select your country and language.
- Click Open account .
- Fill in the information, and click Agree and create account .
- Confirm the email you registered with.
- To make payments, register a card or bank account or add funds to your PayPal account balance.
- To receive payments instantly, you only need to confirm the email.
Does it have disadvantages to make payments with Paypal?
Yes, it also has disadvantages. As we have already seen, PayPal offers many advantages and also very important ones, but it also has some negative aspects that you must know:The seller has to pay commissions
We have already commented that buyers do not have to make any payment in PayPal, unless they have to make a currency exchange.But things change when we talk about sellers, since they do have to pay a fee when they receive payment for the sale.
However, it must be taken into account that it will be a small commission , and that it will decrease the more you sell.
You have to disable automatic payments
If you contract certain services through PayPal, such as Netflix or Filmin, payments are made automatically month by month.Therefore, if at any time you want to unsubscribe from any of them, you will have to deactivate the payments manually so as not to make any disbursement for them.
To deactivate automatic payments you have to enter "Settings" , then "Payments" and finally "Manage payments with prior approval" .
There are restrictions on the money available
To have a large amount of money in PayPayl it is necessary to verify the account through a credit card . But luckily it is a very easy process and it is done quickly.You must enter "Summary" , and then in the "Bank accounts and cards" section . Then you have to click on “Link bank account or card ”.
Users who have completed this verification are less limited in the amount of money they can send or receive, and pay lower fees .
sometimes there are conflicts
Some users misuse this service. This is something to take into account by those who sell online, since the buyer can say that he has not received the product he bought, to try to keep not only the item, but also the money.To avoid this type of problem, you must save all the supporting documents to be able to provide them to PayPal if a claim is opened by a buyer
Differentiate between gross and net amounts
When having to pay certain commissions in PayPal, it is necessary to make a distinction between gross and net . A gross amount will be the amount plus the amount corresponding to commissions. And the net is what remains after deducting that fee.So far the advantages of using PayPal , and the disadvantages that this platform also presents. In general, it is a very well-received means of payment among users, because despite the fact that it has some negative points, it is an easy-to-use tool that works quite well.