PayPal: Online Banking Options

PayPal in an online banking system has different types of accounts. Personal and Premier/Business accounts is the non-merchant accounts, both these accounts are free to open. Both of these account you can add and send money for free. There is no charge for to Personal accounts to receive funds, but there is a limit to how many and how much you can receive. The Premier/Business accounts are charged to receive funds the fee is .30 cents plus 1.9-2.9% of the amount. Many online services will pay only with PayPal, its easy way to send and collect money many eBay sellers and buyers prefer PayPal.

PayPal offers a free debit card with the MasterCard Logo on. There is no annual free and you can get money out at a Cirrus Logo ATM. It costs $1.00 per withdraw plus the bank fees. You can use it as a Credit or a debit card. There is a daily limit on withdraws. For the debit card there is a limit of $400.00 while you can charge up to $3000.00 daily on the MasterCard. If you lose or your card is stolen you just log on to PayPal and request a new card they will deactivate the old card.

Sending money is easy with PayPal. Click on the send money tab. Fill out the email or phone number , the amount, and the currency that you want to send it in, choose goods, service/other cash advance or eBay item. You now can send money to a PayPal mobile. The recipient needs to sign up with a mobile phone number in order to receive the money. This is the most requested way to pay for things on eBay. PayPal will automatically deduct the money from your credit card or bank account.

PayPal is also making it safer to shop online with their new free Virtual Credit Card. To use the Virtual Credit Card, just download a small file, and when you are ready to make a purchase online, it will automatically pop up a box and once your fill in your information to log it, it will generate a virtual number. Your real credit card number is never seen online. It never uses the same credit card number, but all is still linked back to your PayPal account. It will also alert you if the site is a potential fraudulent site.