In today's times, we often hear phrases like global citizens, working across borders.
Along with that, the demand for transactions, purchases, and transfers between people in different countries is huge. There are many services that support Internet money transfer to serve that need.
Paypal is one such service.
Today's article I will guide you in detail about this service.
Let's get started!
- 1 What is Paypal?
- 2 Instructions for using Paypal
- 3 Transfer money in Paypal
- 4 Conclusion
- 5 F
What is Paypal?
Paypal is an intermediary service that allows us to transfer, trade or make currency transactions with each other without being hindered by geographic location.
Can imagine Paypal is almost like the Internet Banking service of many banks are providing today. It can link to personal bank cards (VISA cards).
You can transfer money from your bank account to your Paypal account for online transactions, or withdraw money from your Paypal account to your local bank account.
Any brother who has ever done MMO must be no stranger to Paypal.
History of Paypal development
Paypal was founded in 1998 with the original name of Confinity. In March 3 Confinity merged with Elon Musk's X.com company then changed its name to Paypal in 2000.
The giant, eBay, bought all of Paypal in 2002. Currently, Paypal has separated from eBay (2015).
The reasons should choose to use Paypal
- Customer information is absolutely confidential.
- Payment is quick and almost instant.
- Popularity: Paypal Having payment networks throughout many countries in the world.
- Have function "ChargeBank"the customer can claim the money transferred.
- Service support and customer care is very good and fast evaluation.
Some competitors of Paypal
Some companies are also implementing similar services such as Moneybookers, Liberty Reserve, Neteller, Webmoney, ..
In Vietnam there is Ngan Luong, Mobivi.
However, until now, Paypal is still the most popular online payment gateway today in the field of online shopping.
How to charge in Paypal
Paypal is divided into 2 types of transactions: buying and selling and personal transactions, these two types have different ways of charging.
Purchase and sale fee: understand that fees are charged in sales transactions.
The payer will be free, while the recipient will bear a fee of 2.9% - 3.9% of total transaction + $ 0.30 USD + surcharge.
Specific fees are calculated according to the following table:
Purchase payments received (monthly)
Fee per transaction
$ 0.00 USD - $ 3,000.00 USD
3.9% + $ 0.30 USD
$ 3,000.01 USD - $ 10,000.00 USD
3.4% + $ 0.30 USD
$ 10,000.01 USD - $ 100,000.00 USD
3.2% + $ 0.30 USD
> $ 100,000.00 USD
2.9% + $ 0.3 USD
Personal transaction fee
If you use money in Paypal or in a bank account, this fee will be completely free.
If you use money on a Debit Card or Credit Card, you will be charged 2.9% of the total + $ 0.30 USD.
In this case, you can choose the bearer or the sender.
Note: this fee will only be 2.2% - 2.9% if you register for Paypal Merchant Fees.
Find out more here: https://www.paypal.com/ca/webapps/mpp/merchant-fees
Instructions for registering and verifying Paypal account
Conditions needed to be able to use Paypal account:
- You are a person who needs to perform transactions, purchases, international exchanges.
- Citizens aged 18 and above.
- Identity card or identity card.
- Email is working normally.
- Visa, Mastercard or American Express card (used to verify Paypal account and make payment.
For those who do not have a VISA, MasterCard or American Express card, you can contact your nearest bank to register.
Detailed instructions to register a Paypal account
Step 1: Visit the Paypal homepage at https://www.paypal.com/vn/home Then select the Sign Up button in the upper right corner.
Step 2: Choose the type of Paypal account you want to set up
Here Paypal allows us to choose 1 of 2 types of accounts are: Buy with PayPal , and Receive payments with PayPal.
I will explain more about these 2 types as follows:
- Buy with PayPal: Often understood as a personal account type, for those who want to buy small businesses, or receive money from foreign freelancers.
- Receive payments with PayPal: Often used by individuals or businesses that primarily want to receive payments. So those who sell on eBay or Amazon should choose this type to receive money from e-commerce sites.
Here I will choose the type "Buy with Paypal".
Step 3: Fill in your information in the following table
- The first box selects the country "Vietnam".
- Family name: Enter Last Name
- Middle name: Enter a middle name
- Given name: Enter a Name
- Email address: Enter your regular email address
- Create your password: Enter a password
Then click "Next" to continue.
Next you enter the following information:
- Date of Birth: Date of birth
- Nationality: Select the country Vietnam
- ID number: Select the type of document you want to register. You can use your Driver's License, National ID, or Passport.
- Address line 1: Enter the name of the street of your brother
- Subdistrict / Ward: Enter Commune and Ward
- Town: Enter the province / city
- Province: Enter the province / city
- Postal code: Enter the postal code of the address
- Phone number: Enter the phone number
Then check the 2 boxes Active One Touch , and I confirm that I have read ..
Click the button Agree and create account to move to the next step.
At this point, your Paypal account basically has been created. However, because there is no link with the VISA card, the account will be limited to some features and the transaction limit is only $ 100.
Step 4: Associate with VISA / Master Card / American Express cards.
Here I will take the example with the VISA.
- Here you enter your VISA card information.
- Credit Card Number: Enter the card number
- Expiration date: The expiration date of the card
- CSC: Enter the 3 digits on the back of VISAN card and click on "Link Card"to complete the steps associated with this tag.
Detailed instructions to verify Paypal account
Step 1: Access to the mail you have registered, navigate to the subject mail Complete your PayPal account setup then press the button Yes, this is my email.
You will be directed to the login interface of Paypal. Please login with your original generated password.
Step 2: At the My Account interface, choose to Wallet or Click Bank accounts and cards.
Next, choose to Confirm credit card to start card validation.
Step 3: In the Confirm credit card section, press OK.
At this point, your card is in state Ready to confirm, click on it to continue.
Paypal will send you 4 digit code.
Some ways to get 4 digit code that Paypal sent:
Option 1: Via message.
For VISA accounts that have registered to receive information via SMS.
Option 2: Log in to your bank account, check the transaction when adding VISA card with Paypal, these 4 numbers are in the transaction content.
Option 3: Contact the operator directly
When I registered a bank card, I signed up for a notification message service, so I can check these 4 numbers from the message. For example, the 4 numbers I received are: 4606. Enter these 4 numbers, then press Confirm.
So you have just completed the verification of the VISA card for the account Paypal mine. Now you can use the full capabilities of Paypal.
Instructions for using Paypal
The account is already set up, but how to use it? If you want to know, follow the next part of the article!
Now I will show you how to use and trade on this account in a way that is simple and easy to understand.
Deposit money into your Paypal account
Common ways to deposit money into Paypal are via bank transfer, VISA, Master Card, or to Paypal agents to directly transfer cash to your account.
However, in Vietnam, Paypal does not support recharge with the above forms.
A commonly used method is to transfer from another Paypal account to your brother's account via intermediaries.
Transfer money in Paypal
At the homepage, select the item Send & Request or directly access the link https://www.paypal.com/myaccount/transfer/?from=Header
Click here Send money to friends and family.
Next, enter the email address of the person you want to transfer the money to. Then click Next.
Attention: This email address must be the address that the recipient uses to sign up for Paypal.
Here you choose the currency and enter the amount you want to transfer, then enter the money transfer content into the section Add a note.
Finally hit Continue to conduct the transfer is done.
For example, here I pass 100 USD to relatives.
Notice: The unit line of the amount is 0.01 USD.
Add a bank card to your Paypal account
To withdraw money to your bank account, first you need to add the ATM card of the local bank to Paypal.
To add a bank card, visit https://www.paypal.com/myaccount/wallet and Click Link a bank account
- Name on account: Complete and full name + middle name + first name of the brother on the bank account.
Bank name: Bank name in English
- SWIFT code: This is your bank identifier. Search Google to search for this code.
- Account number: Enter the bank account number.
- Re-enter account number: Re-enter the bank account number.
Then press the "Continue". Check the bank card information you just entered, then click Next.
So you have just successfully added your bank card to your Paypal account.
You can now withdraw money from Paypal to your bank.
Withdraw money from Paypal to your bank account
At the homepage, you click the Wallet button or directly access the link https://www.paypal.com/myaccount/wallet
choose "Withdraw funds".
Transfer Funds interface as follows:
Ô from: Select the Paypal account you want to withdraw money to.
Ô That's it: Select the bank account you want to transfer the money to.
Finally, enter the amount you want to withdraw and press Continue it is done.
So I have finished instructions how to use Paypal account already. Simple right?
With the advances in science, technology and technology, the world is becoming "flat" and closing the geographical distance. Intermediary payment services, transactions are inevitable development.
We have a lot of options for currency transactions via the Internet and Paypal is one such form. This is a tool trusted by many people because of its convenience and safety.
Hopefully after this tutorial, you can create your own Paypal account and know how to use it.
If you have any questions during the registration process or use Paypal, do not hesitate to comment below, Coin98 Will help you answer.
Dear brothers and sisters.