So what is Paypal by the way? Is it free?
Here is what Paypal means according to Wikipedia
" PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as checks and money orders."PayPal is a reliable, easier way to pay online and accept online payments. There is no charge to open a PayPal account and to transfer money from your bank account to your PayPal account.
A PayPal account can be funded with an electronic debit card or by a credit card. The recipient of a PayPal transfer can either request a check from PayPal, establish their own PayPal deposit account or request a transfer to their bank account.
There are fees in others case, such as:
- Receiving payments from goods and services - purchases made by credit card through PayPal just like in Ebay may incur a "foreign transaction fee" if the seller is located in another country.
- Receiving payments from friends and family made using a debit or credit card
- Receiving a payment from someone in another country - The fee charged depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type.
