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ailanamargarett
ParticipantPayPal can offer a convenient way to send money to friends and family, and also to make payments for goods and services.
In this article, we’ll show you how to send money to someone with PayPal – with or without an account.Using PayPal to pay internationally? There are a few catches.
Through PayPal Friends and Family, PayPal allows users to send and receive payments more or less anywhere in the world whether if you want to pay back a friend or family member; and with PayPal Goods and Services you get paid as a freelance worker, or simply indulge in a little online shopping.However, different services with PayPal come with different costs. It’s well worth understanding the PayPal fee structure before you decide if PayPal is the right way to make your payment.
If you’re sending money to a family member or friend, based overseas, there are several charges to pay.
Some of the costs depend on how you choose to fund the payment.
PayPal International transfer fees Cost
Paying by balance or linked bank account 5% (minimum: $0.99, maximum: $4.99)¹
Paying by credit or debit card 5% (minimum: $0.99, maximum: $4.99)¹
Currency conversion fee You’ll be charged a fee of 3% to 4%, depending on the situation. The fees are usually removed from the transfer amount as it’s processed.²
Payments for goods or services These international fees can be even higher — more on that in a moment.How to send money through PayPal using your account
You can make a payment easily using PayPal if you’ve received a money request or invoice. Or you can set up the payment yourself, as long as you have the email address or telephone number of the person you want to pay. Here’s how.Step 1: Start the payment
If you’ve been emailed an invoice or money request, you’ll simply need to click on the ‘Pay now’ button to get started. Depending on the device you’re using, you might then be asked to log into your PayPal account before progressing.If you need to start the payment yourself, you’ll need to log into your PayPal account and then click the ‘Send and request’ button.⁵
Step 2: Select whether you’re making a personal or business payment
If you’re structuring the payment yourself, PayPal will ask you to confirm if you’re paying for goods and services, or making a payment to a friend or family member, either in the US or internationally.⁵ Remember, the fees and charges could be different for each service, so make sure you pick the right one for your needs.Step 3: Enter the details for the recipient
You’re asked to input the email address or phone number of the person you wish to pay.⁵ Make sure you’ve got this information correct before you proceed.Step 4: Confirm the amount and currency
You’ll then need to confirm the amount you want to pay, and the currency to use. This is done using the drop-down boxes — just click on the currency you want.⁵Step 5: Hit confirm, and choose a funding source
Confirm that the payment has been entered correctly, and choose how you wish to pay. You can usually choose between a few different funding sources at this stage — using PayPal balance, a linked bank account, or a credit or debit card.⁵There are pros and cons to each payment option. So it’s a good idea to know what you’re getting into.
PayPal’s payment option Pros Cons
PayPal balance Fully funded domestic payments: fee-free⁶
Funding domestic payment with balance and linked bank account: free⁶International payments carry fees⁶
Payments in currencies other than USD carry feesPartially funding with credit/debit card also carries fees⁶
Linked bank account Fully funded domestic payments: fee-free⁶
Funding domestic payment with balance and linked bank account: free⁶International payments carry fees⁶
Payments in currencies other than USD carry feesPartially funding with credit/debit card also carries fees⁶
Debit/credit card Possible to make a payment on PayPal without an account if you pay with credit/debit card Paying with card brings much higher fees than paying with balance or linked bank account
Domestic payments cost 2.9% of the amount + $0.30³International payments cost even more
Step 6: Review the payment and you’re done
Once you’ve added your funding source, you’re more or less done. Click the button to confirm the payment, and you’ll receive an emailed receipt showing the payment has been processed.How to send money through PayPal without an account
To make a payment through PayPal without opening an account yourself, you’ll have to have the recipient send you an invoice or money request. This means you’ll receive an email with either a detailed invoice — usually if you’re paying a business — or a simple note explaining what the money is needed for.Embedded in the email will be a ‘Pay now’ button, which is all you need to make the payment without opening a PayPal account yourself.
Step 1: Click on ‘Pay now’ in the email or invoice you’ve received
Assuming you’ve received the email detailing the payment, simply click on the ‘Pay now’ button.⁴ If you can’t see the email, it’s worth checking your trash or spam folders, in case it has been sent there.Step 2: Enter your credit or debit card details
You’ll now be given the option to open a PayPal account yourself and pay that way. However, if you don’t want to do that, you just select the credit or debit card option and enter the details for the card you wish to use.⁴It’s worth remembering, however, that payments through PayPal using a credit or debit card are much more expensive than payments made using a PayPal account with balance or a linked bank account.¹ You can look at the table in the previous section to get more of an idea of the cost differences.
Step 3: Confirm the payment
Here you’ll get a final chance to review the payment and make sure everything’s in order. If it’s all as you want it, just click confirm and the payment will be processed. You’ll receive an emailed receipt of your payment for your records.
For more info: https://www.linkedin.com/pulse/how-pay-someone-paypal-step-by-step-guide-deepa-kumari-alljc/
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