PayPal is a money transfer platform that allows you to send and receive money online. You can manage your account online using a phone, computer, or tablet. The service headquarters are in San Jose, California, in the United States. One of the largest mobile money platforms allows peer-peer transfer of funds across personal and business accounts. But can you send money internationally with Paypal? This article will let you know if you can move money across the borders using PayPal.
Being a large company, PayPal faces stiff competition from other money transfer services such as Payoneer, Venmo, Cash App, and Google Play, among others. All these services use money transfer technology similar to PayPal, and that is why they pose a significant threat to the money transfer giant. However, despite the competition, PayPal remains the most suitable platform for many users. Probably, that is because of the excellent reputation it has gained over the years.
Digital money transfer platforms have changed how people deliver money to others. Nowadays, you can send money instantly to those in need, and thus you do not have to wait for too long. That way, you can solve money issues as soon as possible. Traditional money transfer options such as checks and MoneyGram are now outdated although still in use by the conservatives. They could take too long to complete, and that was inconvenient.
Steps To Open A PayPal Account
The steps to open a PayPal account are as follows:
- Visit www.paypal.com or download the PayPal app.
- Select ‘Sign Up’.
- Choose between a Personal or Business Account.
- Enter country, email, and password.
- Enter other personal details.
- Link your bank or credit union account, debit, or credit card to PayPal.
- Lastly, verify your email with PayPal to access the full features of your account.
When opening your account, adding a bank account, debit, or credit card for funding your transactions is optional. However, an account not linking to any payment method is easily scammed and has several limits from PayPal.
Ways To Add Funds To Account
Having money in your account helps you transact with your account. There are some ways you can add funds to your PayPal account. They include the following:
i) Receive funds from others
You can get money from friends and relatives to your personal account. If you have a business account, you can receive money from your customers when they pay you. The funds you receive add to your existing balance and thus a reliable source of money to use with your account. For others to send you money, they need your phone number or email address.
ii) Add money from a bank or payment card
One can easily add funds to their bank account as long as they have linked it to their PayPal account. The following is the process you can use to add money from your bank account using your computer.
- Click ‘Wallet’.
- Select ‘Transfer Money’.
- Hit on ‘Add money’ to your balance.
- Select your bank
- Enter the money to transfer and click ‘Add’.
If you’re adding money using a mobile app, you should do as follows.
- Tap ‘Dashboard’.
- Hit on your ‘PayPal balance’.
- Tap ‘Add Money’.
- Select your preferred method of adding money. It can be through a bank account or payment card.
The balance to reflect on your account takes 3-5 business days. You will always get an email when the transfer is complete.
iii) Add money at a location
With a PayPal Cash Card, one can add money to your account at various retail locations like CVS, Dollar General, Family Dollar, Rite Aid, 7-Eleven, Dollar Tree, Walgreens, and Walmart. You need to visit any store with your card and give the cashier the cash you want to deposit.
Next, give them your card to swipe on their card reader machine to load it. You will get a message on your phone or email about the deposit. You can also view your balance by logging in to your account and checking your balance.
Things You Can Do With PayPal
There are various transactions you can do with PayPal. They include the following:
- Send money to others. You can quickly transfer funds to other PayPal users online when logging into your account. You need to navigate the money transfer section and carry out the process.
- Pay for goods and services. PayPal allows you to pay your seller instantly by sending money to their PayPal account. You can also use the PayPal debit card to purchase your goods or services.
- Transfer money to a bank account. PayPal allows you to move money to your bank account to use it in various ways. You must first link the bank to PayPal to carry out the transfers.
- Accept payments. If you have a PayPal business account, it becomes straightforward to accept payments from your customers.
Process To Send Money Via PayPal
Transferring money via the PayPal is easy. You can carry out the process in the following manner.
- Using your mobile app, tap ‘Payments’, then hit ‘Pay’.
- Enter the recipient’s PayPal username, email, or mobile number.
- Enter the amount to send and choose currency.
- Add a message (optional) and hit ‘Next’.
- Choose how you want to pay and hit ‘Next’.
- Select ‘Friends and Family’ or ‘Goods and Services’ and hit ‘Next’.
- Check your details and tap ‘Send’.
The funds should appear immediately.
Can You Send Money Internationally With PayPal
PayPal is among the best ways to transfer money internationally. You can send money to over 200 destinations around the world instantly. It allows you to make payments to international businesses and receive your orders at your physical address. The platform is highly acceptable by thousands of businesses across the world.
Remember that you do not need to have any balance in your account to transact on PayPal, as you can add money from your bank account or payment card. International money transfers have made the world look like a village because you can send money within minutes across the world.
Even though some countries still do not support PayPal, most of the world’s nations accept the payment platform. Above all, PayPal is still the cheapest way to send money internationally.
Bottom Line
PayPal is an international money transfer platform that allows you to send and receive money. The company allows you to send money to over 200 destinations worldwide. With your account running, you can carry out various transactions such as buying goods and services, transferring money to your bank account, and sending money. You can add money to your account via direct deposit, bank transfers, and check deposits.
