How to Send & Receive Money Online

Online transfers are a great solution for fast international payments.

Sending and receiving cash online is easy with services such as PayPal and Moneybookers. These services are used by millions of merchants and customers from all over the world. They are a great solution for international payments---PayPal is available in more than 190 countries and regions. Keep in mind that these services may charge a fee to process your transactions. There are dozens of services to choose from, but it is best to select one that is reasonably popular so that you can do business with more people.

Instructions

1. Create an account with an online service, such as PayPal. The site may ask you for financial and personal information to move funds in and out of your account, and for security purposes. Carefully read over its terms and conditions so you are aware of applicable policies and fees.

2. Link a bank account or credit card to your account. If you are using PayPal, scroll over "Profile" at the top of your account page and click on "Add or remove bank account" or "Add or remove credit card." Provide your financial details and confirm your information. A credit card is generally accepted or rejected immediately, while a bank account takes three to five business days to verify.

3. To send money, click "Send money" in the menu at the top of your account panel. Enter your recipient's PayPal email address and your desired transaction amount. If your account balance is too low to cover the transfer, PayPal will withdraw funds from your primary funding source.

4. To withdraw money from your PayPal account, click "Withdraw" under the "My Account" menu. Choose to receive the withdrawal via Electronic Funds Transfer, physical check ($1.50 fee is applied, as of 2010) or with a PayPal debit card.

5. Tell your partners your PayPal address so they can send you payments through PayPal.

Tips & Warnings

• Your customers do not necessarily need a PayPal account to pay you---click on "Merchant Tools" and create a "Buy Now" or "Add to Cart" button. You can use these on your merchant website by embedding some HTML code on your desired webpage, which PayPal automatically generates for you. You can also request money by sending an email from PayPal. Your buyers can then pay bills with their credit cards. You may be subject to a transaction fee.

References

• PayPal: Help Center