When you are making money online, a convenient way to be paid is by using Paypal. This is an online bank account and works in a similar way to other bank accounts. It provides good security and allows you to accept payments in many different currencies.
The reason that many people like using Paypal is because they do not have to reveal their bank or credit card details to the person that they are receiving or sending money to. It is all done by email address. This means that if you are selling things, your customers will just need to know your Paypal email address and they will be able to use this to send you money. They will give Paypal their credit card and / or bank details and choose where to send money from but all you will see is their email address and vice versa.
You will need to start with Paypal by setting up an account. You can choose to set up a business account or a personal account. If you are a business then a business account will be useful to you as it has additional features which you may need in order to use Paypal as a payment system on a website, creating invoices and things like that. It is wise to use your business email as your Paypal email to make it nice and simple for your customers. When customers make payments, money will automatically come into your Paypal account. Paypal will take a small charge before depositing the money in your account. It is wise to find out what this is and add this into your costs when you are calculating the price for the items that you are selling.
Many people trust Paypal. It has been going a long time and they understand the security benefits of using it. This means that when you are trying to attract new business, if you let them pay by Paypal you will have an instant trust from them and that will help them to feel that they are happy to buy your products.
It is very simple to withdraw money from Paypal. If you have been paid in a foreign currency, you will need to exchange that first, which is extremely straightforward. Then you can transfer it into your associated bank account and it will appear very quickly. With a business account you will get charged for this unless you have over fifty pounds to transfer so it is wise to let the funds build up. Of course, you may decide to spend the money directly from your Paypal account on online purchases. Just make sure that you keep proper accounts so that the payments show as business income.
With no charge for opening an account and lots of great business functions it is worth researching to see whether you think that having an account will work for you. It is worth noting the different charges to see whether you think that they are reasonable and affordable as well.