What is PayPal?
PayPal is a payment instrument that is used to make purchases online. It can also be used for money transfers between individuals. It is a convenient and inexpensive way available to everyone. It has high security, a relatively small PayPal limit, and other advantages. Worldwide, over 400 million users have registered unique wallets. PayPal is one of the largest payment systems that allow you to complete all transactions as quickly as possible with minimal effort for customers.
This service is considered one of the most common and popular among users, many online stores and other portals. That is why everyone trusts this site, creating new wallets for making payments. You should pay attention to the following features to know how much money can you PayPal:
- The payment fee is $0 if you use a domestic bank transfer. If you use a credit card or PayPal credit, you will be charged a 2.9% fee to use the features of this service.
- Transfer PayPal limits are different in each case. Generally, you can transfer no more than $6,000 at a time, but these PayPal transfer limits may vary.
- Ease of using the service allows you to perform all the necessary operations through the website or mobile application. Each user can choose the best way for himself.
- The quality of customer service deserves attention. Everyone can contact the technical support service at the contact number. You can also contact users via social networks or messages. All you have to do is sign in with your account.
PayPal is the largest electronic platform that allows you to make secure payments at minimal cost to customers. Just follow a simple registration procedure to know how much you can send on PayPal.
Features of using PayPal
Anyone can use PayPal without much effort. Intuitive interface, functionality, and ease of use allow you to learn at a minimal cost. You can perform the following actions using this platform:
- Send money. PayPal is a system that supports money transfers between its users. You can use the mobile application or the official website to do this. You can make a transfer through a mobile phone number or by e-mail. Transfer PayPal limit per day can reach up to $60,000 depending on the account level. As a rule, the transfer takes several days, but you can pay 1.5% of the amount to make an instant transfer.
- Payment for goods in online stores. PayPal offers the ability to pay for your purchases in online stores. Just enter the seller's details and the amount to be paid to do this. Many online merchants work with PayPal, so you can easily make various payments.
- Possibility to get a loan. You can buy goods on credit using the features of the service. The loan is issued at a certain percentage. At the same time, attention should be paid to relatively high-interest rates. They are not always beneficial.
You can easily buy a wide variety of products from online stores. PayPal also allows you to pay for purchases in regular stores using a unique QR code. A similar opportunity exists in some cafes, restaurants, and markets.
Transaction fees
PayPal usually works completely free of charge. If you place an order in an online store or website, send money to your friends or relatives, or replenish the balance, you will not have to spend extra money. In some cases, you need to know how much can you transfer with PayPal:
- some sellers work only at the expense of commissions;
- when transferring money abroad, you will also have to pay a commission;
- instant transfers require additional costs;
- The use of a credit card requires an additional fee.
If you send money to another country, you will also have to pay a reasonably high fee. Such transactions are expensive for customers, so they are not used in all cases. Some platforms offer better terms for their customers. For transfers abroad, it is better to use other services. Among the main service advantages is a small PayPal person-to-person limit.
PayPal security
PayPal is a secure service that works using the SSL protocol, so you don't have to worry about the safety of your funds. The company also closely monitors fraud around the clock.
PayPal's policy is to protect customers' money in their accounts. The company guarantees a full refund in cases where it was not you who made the purchase.
It should be understood that PayPal cannot be perfectly protected from fraud or theft of money from customer accounts. That is why you should carefully monitor all your transactions to avoid possible problems and know how much you can send via PayPal friends and family.
