How to Use Paypal to Transfer Money
Say you've just purchased something from an acquaintance in another state, or you have a friend who is in desperate need of money. Paypal is an easy, safe and free way to transfer those funds from your bank account or credit card directly to the other party, for free. All that's needed is for each party to have a Paypal account, and for you to have a method of making payment.
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Instructions
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Go to Paypal.com and open an account. Click on the link at the top of the page that says "Sign Up." You will be asked to provide your name, street address, phone number and email address. You will also need to set up a user name and password so you can easily log on.
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List a payment method with Paypal. This can be a credit card or bank account. If you want your account to be listed as "verified," you need to supply banking information, but you can transfer money with just a credit or debit card.
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Make sure your intended recipient has a Paypal account set up, and that you know the email address he uses for his account. It is also possible to send money through a cell-phone number, as long as the number is listed with Paypal.
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When you are ready to make the transfer, sign on to Paypal and click on "Send Money." Paypal will give you the option of making payment by email or phone. Click on your intended mode of delivery, based on the type of account the receiver has.
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Fill out a short form with the email address or cell-phone number of the recipient, the email address of your Paypal account, the amount you are sending and your purpose in sending the money. Click on "Continue."
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Log on at the next screen (if you have not already done so). You already have a payment method set up as a default, but you can change it by clicking on "Change" under "Payment Method." At the bottom of the page, you can write a note to the recipient, if you desire.
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When everything is filled out to your satisfaction, click "Send Payment." Paypal will send you confirmation that your payment was sent, and the recipient will also receive a message regarding the money he has coming. You're done!
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Tips & Warnings
If you have any questions regarding how Paypal works, look in the upper left-hand corner of the home page, where you will see a link labeled "Get Started." Via the drop-down menu, you can bring up information concerning all of Paypal's basics.
Paypal is a completely secure site. so don't worry about providing your personal information.
Paypal only allows one person to register a bank account. If you share your bank account with someone else, only one of you will be able to hold a verified Paypal account using that banking information.
