How to Use Paypal to Request Money

Using Paypal to request money from customers is an affordable and safe option. The site offers personal and business accounts with a variety of benefits, the most important of which is information security. With invoicing features and a platform for creating USPS shipping labels, Paypal lets you manage your business receivables without hassles.

Instructions

Difficulty: Moderately Easy

1. Create a Paypal account. You must supply contact information and the details of the bank account number in which you want your money deposited. As someone makes a payment to you, the money will initially sit in your Paypal account until you request a transfer to your bank account.
2. Go to the tab entitled "Merchant Services" to create an invoice. Whether you use their template or design one of your own, you will need the email address of the recipient. Once you complete the invoice, Paypal will forward it to your customer.
3. Ask your customer to make their Paypal payment using the "Pay Now" button on their invoice. This will ensure the transaction is processed quickly, and the money is deposited directly to your Paypal account.
4. Log onto Paypal when you receive your email notification that a payment has entered your account. Click on the withdraw tab and transfer the money to the bank account you have on file. This method of payment is free and only takes a couple of days.
5. Check the status of your customer's payment or your withdraw request by logging onto Paypal and reviewing your account.

Tips & Warnings

• If you have a personal account, there are different restrictions governing how often you can transfer money to your bank account. If you select a business account, you can request transfers as often as you like.