Transcription
How to Use PayPal - Beginner's Guide
Hey everyone in today's video, I want to show you how to use PayPal to send and receive money online and we're going to focus on paypal.com. On a computer. They also do have mobile apps or make separate videos for those. But the process is pretty much the same as how you sign up and how you send and receive money inside of PayPal.
So jump into paypal.com and we're going to go ahead and sign up for the first time by pressing sign up on top and there are two types of accounts on PayPal. There's a personal account and there is a business account. Now I have both of these and I have one from my personal life and I have a couple for two different businesses.
But in the case of this video, I'm going to set up a personal account, but I'll show you. The inside of a business account is pretty much the same, the layout, a little bit different. So regardless of which one you choose, the rest of this video will apply to you. But if you're going to use it to send money to people, you know, or if you're going to pay for things online, personal is good.
But if you want to get paid and invoice people and things like that, the business one is good. Now both do have free options, even the business one, but the personal one is free. So choose one of these and then go ahead and press next and on this page. You do have to type in your legal name first and last and your email and password.
This has to be your legal name because it is going to ask you personal questions to verify your identity or your EIN number. If you're a business and this works around the world. So I'm making the video in the US but PayPal works globally and the question that this is going to ask you, it's going to be a little bit different if you're a business or if you did the personal accounts, but he's pretty straightforward either way.
So I'll type in this information and I'll press next. Now I'm going to type in the address. I'm going to check on this box. I'm going to add in my phone number and on the bottom, I'm going to agree and create an account and on this next page, it's going to ask you to either add a credit or debit card that's where you would put in the credit card and debit card information, or you could link a bank.
Instead. These are also available on a different page. When you sign into the app, if you're here to receive money, you don't have to do that. You could sit on your PayPal balance and then you could link a bank account to basically get that money out of PayPal. I explained that in a second right now, let me just say I'm here to receive money and it will take me inside of PayPal and it's already going to take me to send them request money page, but let me just go to the homepage so I could explain to you what's going on. So I just jumped into the homepage. I did have to log in one more time and if you look on top and you sign up for business, it looks a little bit different.
I'll show you in a little bit what that looks like, but ultimately it's laid out a little bit better for business, a little bit easier to request payments with invoices and things like that. But right now on top, you should have summary activity send and request money. That's where we're going to spend our time on and wallets and shopping.
Now what you have to understand them by PayPal, right? Is a digital wallet. So all your cards, your bank accounts, and even your PayPal balance sit inside of the app or on paypal.com. So in order to send money, you could use any of those methods, any order to request money, you could use the request option and receive it inside of your PayPal account and then transferred it out to your bank account.
So right now it's a pretty straightforward process of what you have to do next Lincoln credit or debit card. Link a bank account or one of the two. I usually do both because on some payments I'm going to use a credit card and on some payments, like paying someone, I'm going to use direct bank transfers and you do have to confirm your phone number to verify your account. So again, the first things first, I'm going to link a bank account at the minimum. You have to do this or this option. If you have no payment methods, all you could really do is request money. You can't really send money. So if you just want to request money, all you have to do is go to this icon right here or go up to the request menu up here.
Now I'm going to go ahead and just log out of this account. I want to show you my other account, just to show you. What establishes an account looks like. And once you start using your account where things are going to end up and here we are inside of my PayPal account, again, a personal account, I'll show you the business one in a second, and this should be the summary page, which is ultimately the homepage of the website, where it's going to show you everything that's happening.
You're going to have your PayPal balance right on top yours is going to be zero. If you just sign up for the app, but also mainly. This is your digital wallet. This money is going to sit there forever. If you don't transfer the money out to your bank account. So that's why it was important to link it to your bank account first, and then add the other method of payments that you want to use.
But if I wanted to transfer my balance out, It just requires me to press transfer money. If you want to add to your balance here, let's say you want to put some money into your PayPal balance and they use PayPal to pay for things. It's the three dots over here. You could press that and instead of transferring money out, which is what this one does, adding money allows me to bring money into my balance.
So I'll press that and it's going to pull up your bank account. So it was important to set that up first and a transfer balance, whatever amount you want. Into this account. Now there is no fee when adding money from a bank to PayPal. So that's why adding a bank account is the best way to use PayPal. You could use it free of fees from transferring money into PayPal and transferring money out of PayPal to your bank account for free.
Then you're going to have your recent activities underneath that these are going to be the type of payments that have either paid for or received using PayPal. So I use PayPal to pay for a variety of services, and I also use it for people to pay me money for a variety of services my business account and on the right, you have sent and request and you have the more option, which gives you all these different options over here.
But ultimately, let me show you, the first thing you usually want to do is go to your wallet tab right here on top, and on here, you should have linked a debit or credit card and link a bank account. The same option that he requested when you signed up, you could always come back and do it this way on the business account is called money instead of a wallet.
So go to the money tab. So at the minimum, I'm going to link a bank account. So I'm going to click this and it's going to basically let you search for your bank or use one of these popular banks here, again, I'm in the US here, but it may be different where you are, but go ahead and search for your bank and he just has you sign in to your bank to make this process easy, or it's going to verify by sending a couple of very small transactions to your bank and it's going to ask you how much those were and that's the verification process. This is pretty straightforward here. If you want to link a debit or credit card, you could press that and again, you could do this manually, or you could link it by the banks that you should credit cards. The manual option is pretty easy. So if you click it. It's going to ask you to type in your credit card number and security code and the usual information, and you could link the card at the bottom of the page.
I'm going to press X. So that's basically the digital wallet plus the PayPal balance. So if you've received money on PayPal is going to show up over here and if you're outside of the US, and you're not using US dollars, there is a currency calculator here too. So if you're sending money from two different countries with two different currencies, you could go ahead and do the math here.
Often times I've hired people in England and I've had to figure out how much I have to pay them to be the right amount for the job and when you're ready to take your money out of PayPal, you could go ahead and press transfer money, and he's going to transfer it to my bank or I could request a check or I could just use this balance to pay for things or to people.
I don't have to transfer it out. I usually don't. I use my PayPal balance to pay for things rather than every time transferring it to my bank and then transferring the balance back to PayPal. So that's the wallet page. Let's go to the send and request page to send money to someone you type in their name, email, or phone number and press next and he will take the money that you want to send them and he will send it to their PayPal. If they don't have PayPal is going to ask them to create a free PayPal account and then go through the process. Very straightforward. Now, let me go ahead and just send money to someone. All you're recently paid.
All the people that you've paid using this method are going to show up here. So you could also manage contacts and move people around. I'm not going to do that. I'll pay someone new I'll press next and let me kind of show you how this works. Let's say I was paying a hundred dollars here. I will pick my currency here.
I mean us, so us dollar, but all those are available and it's really important. What you're paying for, are you paying for an item or a service in that case? That's what it's choosing because I'm trying to send money to another PayPal account that is business. So it's guessing that I'm paying for an item or a service, but I could go ahead and press change here and look at the couple of different options you have.
If you pay for an item or a service like if you bought something from eBay or if you paint a service that you hired, this seller pays a fee. So it's free for you to send it, but the seller has to pay a fee, but sometimes the seller will ask you, especially when you're paying for a service to cover their PayPal fee.
But there's another option sending to a friend. There's no fee. As long as you use a bank account or the PayPal balance that I've shown you to send people money. In this case, friends and family in the US so I'm sending it to a friend. No, one's going to get charged in anything. I'm not going to get charged anything.
I'm going to use my PayPal balance or my bank account. I'm going to go ahead and leave a note, but you do lose the PayPal purchase protection. And that's what a lot of people use. PayPal. It is owned by eBay. A lot of payments from eBay, go through PayPal and you have purchase protection. Meaning PayPal covers you.
So you could read more about purchase protection here, but if you're just sending to a friend, if you're just doing a money transfer from one friend to another family member, this one charges nothing. As long as you use a bank account, if you use a credit card, you will charge you because credit cards do have fees apply to them.
There's no way to get around that by using PayPal balance and banks do not. The request option. Let me go over here. This kind of works the same way you type in someone's name, email, and phone number, and then you could go ahead and request money. So I'll just do that. As an example, here, you will take me to this page where I would say I'm requesting $10.
I would type in that amount and again, in different countries, there are all these different currencies that you could choose from that are supported by PayPal. It's going to say the email address of the person that you typed in. You could add other people here as well and send them money all at the same time.
You could even use this to split the bill here, and then you could also add your note for what this is for, and then you could press request now, and then they will receive an email that you requested money from them. Again, they'll have to come and sign up for a free PayPal if they don't have one and then they could go ahead and receive that money from you.
Let me go back to send them a request. Then you have your activities tab that we haven't seen yet. Let's go there and it's going to show you every transaction and you could go ahead and search right here by activity or by date here and filter things that way. But it's a very, very easy way to see all the different things that you've paid for or received inside of PayPal and there's a shopping tab. Let's go there and this you could explore on your own, but they do run deals here where you could go ahead and receive discounts on a variety of things like gift cards and again, you could use your PayPal balance. So if I wanted this $50 gift card, I could receive it just by using PayPal and you have a settings option here. Let's click that and I basically have to blur everything here. This is my personal account here, but you could go ahead and change any of the information that you have here. You could even update your profile picture here and on the bottom of the page, if you set this up as a personal account and you want to make it a business account, you could always do that on the bottom and if you ever wanted to close your account, the option is on the very bottom of the page. Now let me show you the business account. Briefly. I want to show you what that looks like for a second. So I'm going to log out of this one and log into my business account. So when I'm inside of my business account, and as you can see, it's a little bit different than there's the summary tab again, but everything in the homepage is laid out a bit differently and then there's a money tab. You still have your activities, but now you have a report and you have different business tools here. So a little bit of a different layout, but you still have the settings gear on top. But what you're looking at in the summary page, your balance is still over here and you could translate from money or add money to your balance using these two options over here and there's a bunch of transfer money options, like an instant transfer from your bank, or check by mail or standard transfer. Again, similar to the personal yeah. An account that we had. We have our recent activities. Again, it has its own tab, but he's going to show up right here on the homepage in a little bit of a different place than the person, but one of the useful ones inside of this is creating an invoice in seconds is basically.
Putting in someone's email, like a customer's email, the description and the amount and creating an invoice, which makes it a lot easier to professionally request money from people that you've worked with. Like your customers, I'll do a video dedicated to PayPal for business, but ultimately if you go to the money tab here, It's going to allow you to do everything that I've shown you before.
Like adding your bank account takes place over here, your card, you could link a card over here. Your balance is going to show up over here. You could convert currency over here and you could go ahead and send them request money over here, which takes you to the exact same request and more option. The same thing we looked at on the personal account.
You can go ahead and type in someone's name, email, or phone number, or you could do the exact same thing here by typing in someone's name, email, and phone number and request money and that will show up here if you've paid them before. So you could select from recently paid over here. You could also create invoices over here, too, on request, which was.
Also available on the homepage of the app, which basically takes you to the full invoice page where you could go ahead and create invoices in more detail than we had on the homepage. So you could use this more advanced option inside of here. Again, there's a lot in PayPal for business. That's why I just wanted to show you briefly.
The personal one and our work on a video just dedicated to PayPal for business and I should be finishing up the PayPal mobile app video shortly as well.
I hope you found this PayPal video useful. Please give it a thumbs up and subscribe for easy to follow tech videos and I'll see you next time. Thanks for watching.