PayPal account and different types of it full guide

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Online payments are made by electronic payment systems. Among the companies who provide people with e-payment and its advantages, PayPal is one of the most popular one with wide number of users all around the world who make transactions through PayPal account.

PayPal is one of the oldest and most reliable online payment services. It does not matter where you are on the world, PayPal is used by individuals and business owners anywhere. PayPal has a lot of features that you can use for different purposes, whether you are a regular buyer or you have products or services to provide. All the thing that your friends or family members need in order to send you money on PayPal is the e-mail address that is associated with your PayPal account when you were setting it up. When anyone sends you money, you will receive notification by an e-mail and then you can log into your account and transfer the money to a bank account or do any other thing you wish. Most of the online stores accept PayPal account for purchases.

What can I do with a PayPal account?

How it can be used?
How it can be used?

Using a PayPal account enables you to receive a PayPal card and use your PayPal money to purchase physically and in person. In addition you would be able to transfer money from your PayPal account to anyone else’s accounts and also receive money. Your account’s credit can be transferred to your bank account and as well you are able to transfer credit from bank account you your PayPal account. Online services such as Netflix supports PayPal to make payment for its monthly and annual services. Most of the online stores can accept your payment through PayPal account as well so no matter where you are you always can purchase anything or make transactions to friends or family with PayPal fast and easy.

PayPal account types

account types
Different account types

Before you start creating a PayPal account you must choose the type of account you want to set up. PayPal offers four different account types which are Personal, Premier, Business, or Student. Here is a brief description of each type.

Personal account: If you plan to buy and sell items on your own using PayPal, a personal account would be suitable while you would be able to use it to send money for friends and family members too. If you purchase directly with your account or transfer money from your account there would be no transaction fees on this type. The Personal Account is actually the usual account type. A personal account would be very useful for shopping on websites, or sending gifts.

Premier Account: This type of account can be your choice in case you have something to sell as a professional activity or even as an entertainment without owning a company. Owners of Premier Accounts would be able to receive PayPal payments, accept debit or credit payments from anyone, and receive the PayPal Debit Card directly.

Business Account: business account is your type of account in case you own a business or company and you want to sell products or services online. Business Accounts can accept bank transfers with of course transaction fees.

Student Account: The Student Account is a kind of account with limited features that would help users with age of 13 and up to manage their money. Student Accounts provides the owners a debit card that the student can use anywhere that MasterCard is accepted. Student Accounts are linked to a parent account by this parents would be able to easily monitor money related activities and also they have the option to set spending limits. Any parent account can have 4 student account connected to it.

Matilda Boyce

Author Matilda Boyce

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