Among the many electronic payment systems that exist on the Internet, the largest and most reliable - PayPal - stands apart. What is PayPal and how to use it, are payments really completely protected? The vast majority of people have no doubts about this, but at the same time they are slow to register, voluntarily limiting themselves to the opportunities that the system gives. For an inexperienced user, PayPal seems to be an extremely complicated service, but it's not really that scary, and it's worth spending a little time and figuring it out, because the advantages of the system are really great.
Appearance of the PayPal payment system
Her work is unique in its own way. Despite the fact that this is not a bank, but a debit system, it is subject to all the laws that apply specifically to the banking sector. The activity of the company is licensed in many countries of the world. In Australia, for example, the company received a special savings and loan banking license.
PayPal Corporation was founded in March 2000 and in a short time managed to win the trust of customers. Probably few similarcompanies have invested in customers as much as PayPal has. What have they done to win the competition? In its own way, a unique and aggressive strategy that required a large investment - $ 20 was offered for each attracted client.
Initially, the system was focused on electronic auctions of no less large company eBay, which absorbed PayPal two years after its creation. This well-coordinated work continued for quite a long time, and only at the beginning of 2015 the companies split up again. In the competition for the international electronic payment market, PayPal has become the absolute leader.
Advantages of the payment system
Users who have been fans of PayPal for many years point out several main advantages, and first of all, it is the reliability and speed of making payments, regardless of the country in which the counterparty is located.
Of course, compared to many other systems, PayPal is the most rigorous. What is, for example, a dispute between users if the transaction is not completed? The dispute between the buyer and the seller allows you to come to a solution that would suit both, but if the parties do not agree, then the dispute turns into a claim, which will be considered by PayPal employees. Such tools really scare away some users, but it is these complexities that are designed to ensure the security of transactions. Thus, the limitation turns into an advantage.
It is "PayPal" that makes it possible to conduct transactions of various kindsno bank transfers or currency exchange. However, the exchange will have to be carried out if you need to deposit money to a PayPal account or withdraw funds to a bank card.
Peculiarities of using PayPal in Russia and CIS countries
Different countries have different status in the system with tolerances and restrictions. Until recently, Russian PayPal differed in that it was only possible to deposit funds into an account and pay for purchases via the Internet with it. In particular, for purchases on such major resources as eBay or AliExpress. But it was not possible to withdraw the received funds from the system. All CIS countries have similar restrictions to varying degrees. However, quite recently, Russia received an increase in status, and now Russians have the opportunity not only to pay for purchases, but also to withdraw funds to a card.
Slightly worse things are in Ukraine and Belarus. Kazakhstan has recently joined the system and is also in the zone of functional limitations. Probably, in the near future, residents of these countries will also have expanded opportunities. After all, if we consider the payment system as a tool, then PayPal will be among the most convenient mechanisms that expand the boundaries. What is a relatively short wait compared to being able to send and receive payments almost anywhere in the world at lightning speed?
Sign up with PayPal
To start using the system, you need to go through a simple registration. It's freeservice, no separate payments are required. It is important to know that when registering, you must specify your real data, if you enter them with errors or come up with a pseudonym, then during verification the account will be recognized as fake and as a result blocked. That is why any instruction on how to set up PayPal without entering real data is obviously incorrect and may lead to account blocking.
Before registering, you need to decide in what status you want to work with the system: as a buyer or as a businessman. A regular buyer account is issued free of charge, later there is an opportunity to move to the next level, if there is such a desire.
After choosing a country and user status, you will need to enter an e-mail address, password and postal address, and you will also need to link a bank card - this is how the PayPal system works. How to use the payment service? This is only possible through a linked bank card, which must be opened in the name specified during registration.
Linking a bank card
Another important step required to start working with the system is linking a bank card to an account. This is done in order to be able to use the money in the account to pay for various goods and services on the Internet, it will be possible to withdraw money from the system to this card.
You need to enter the number, expiration date and code located on the back of the card. After that, the system will start checking it. It is desirable that it was not a credit card, but a debit one, thenthere is a payment. PayPal takes a small amount of money from the card to check the very possibility of contact and transfer of funds. Usually it's $1.9 and it's not a service fee. After the cardholder confirms that the withdrawal is made with his knowledge and quite legally, the card is considered confirmed, and the funds are returned to the bank account.
Pay for purchases and receive payments
The most convenient thing about this system is that the interface is as customer-oriented as possible, it is really friendly. The simple design is intuitive, the required language is set during registration, so there are no difficulties for a Russian-speaking user without knowledge of English. Setting up PayPal allows you to send money in just a few clicks. There is no need to enter funds into the system separately, PayPal connects to the linked card and takes them from it.
To send money to another user of the system, you only need to know his identifier, that is, his email address. An important nuance: Russian citizens can only send rubles in mutual settlements, with other countries settlements are made in dollars.
To receive money within the established monthly limit, it is not necessary to register as a businessman or a commercial company, this is required only if it becomes crowded within the limit and a denser turnover of funds is needed. Money is transferred almost instantly.
PayPal features: limits and security
The limit of funds that can beuse in the PayPal system depends on the level of account verification. If you use an unconfirmed account, then the user can spend or receive no more than 15 thousand rubles or the currency equivalent of the specified amount per day. The monthly limit for the movement of funds on the account is 40 thousand rubles. These security restrictions are imposed on users by PayPal. How to enjoy more freedom and expand the limit? It is enough to pass account verification.
There are two types of verification in the system: simplified and full. After passing the simplified limit increases to 60 thousand rubles per day and up to 200 thousand per month. Full verification makes it possible to send a one-time payment up to 550 thousand rubles, which significantly expands the user's capabilities.
How to complete account verification?
To get maximum financial freedom in the system, you must fully verify your identity. Here is an up-to-date list of information that a PayPal user provides for complete identification, the instructions are extremely simple:
- passport details;
- mobile phone number;
- state registration number to choose from (insurance number of a personal bank account, TIN, compulsory medical insurance policy number).
Similar user identification schemes are available in almost all fairly large payment systems.
PayPal fee
When sending money transfers, PayPal charges a fee depending on the amount transferred. To aftercompletion of the transaction, do not be surprised by the increased spending, it is recommended to specify the full amount of the payment, that is, together with the commission.
You can pay for something in rubles, that is, within Russia, or send a money transfer within the country without a commission, but subject to the use of funds that are on the internal PayPal account. If the system must take funds for a money transfer from a bank card, then the commission is 3.4% of the transfer amount and 10 rubles for a separate transaction.
When transferring abroad, an additional commission fee is charged. Depending on the country of the recipient, the commission ranges from 0.4% to 1.5%. However, it is possible to choose the payer of the commission fee, it can be paid by both the sender and the recipient of the transfer. When carrying out any transaction, the system will prompt you to familiarize yourself with the list of commission fees.
Additional security guarantees for transactions
As part of the fight against fraudulent schemes and deception of buyers in the PayPal system, a payment block is provided until the buyer confirms receipt of the goods. Only after that the seller gets access to his profit. This may seem overly strict to some, but the reviews available on PayPal confirm that this approach is fully justified. If the buyer has not received the product or it does not match the stated description, he has the right to dispute the transaction within 45 days.
Withdraw money
In Russia, until recently, it was not possible to withdraw moneyfrom the system, so a lot of Internet services appeared that offered this service on a paid basis. The commission for such a transaction is quite high, so when setting up a business on the Internet, this had to be taken into account. At the moment, exchange sites are used by citizens of other CIS countries if there is a need to receive money to their bank account or to another payment system from PayPal. User reviews confirm that the services really work, but the commission is not encouraging.
However, at the moment in Russia there is an opportunity to withdraw money to a bank account without interest and any overpayments. It is enough to select the “Withdraw Funds” item in the menu, the system itself will offer your bank account. The only inconvenience is that the operation takes from 5 to 7 business days. In this case, a notification will be sent to your e-mail.
PayPal is easy - expand your options!
