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Find a Job You Really Want In
What is PayPal?
PayPal got its start in 1998 as a premier e-commerce merchant company. Today, the company serves more than 200 markets worldwide. In 2002, ebay.com acquired PayPal for $1.5 billion. Now PayPal is used for more than just online fund transfers for individuals and businesses alike. You don’t even have to be a member to send money, so long as you have an email address of a member. If you want to receive payment, then you’ll have to sign up.
How Does PayPal Work?
After you’ve set up an account to receive or send money, you’ll link a bank account or credit card. The company guarantees your information is kept private and has many security measures in place for transactions between buyers and sellers. One particular measure will cost you. It’s called the PayPal Security Key and comes at a monthly payment of $29.95. The portable device generates a 6-digit code that is good for 30 seconds. Then if you want to withdraw money from your account you have 3 options:
- Send the money to your bank account
- Add it to your PayPal debit card (if you even have one)
- Request a check in the mail
How Does PayPal Make Money?
PayPal makes money in two different ways. To start off the company charges fees to the payment recipient. Even though most of the transactions through PayPal are free of fees, merchants with business or premier accounts are charged a fee for each of their transactions. These fees are typically $.30 plus a 1.9%-2.9% surcharge fee.
It’s important to note that you won’t be charged for anything until you’re paid for selling something. Within the United States, you’ll be charged 2.9% and $.30 per sales transaction. The percent goes down to 2.2% for eligible charities and up to 4.4% for international sales.
Let’s break down the types of accounts you can have through PayPal. Designed with sellers who are just starting out in mind, the premier account gives you access to your shopping cart with payment reporting programs. These programs are actually quite essential for business prices and people who have regular customer interactions.
The business account is made specifically for people who manage large scale online companies or online stores. Typically, “power sellers” on eBay use this type of account to receive payments. This account allows members to generate accounts and receive help for persisting payments. These members aren’t limited on debit card usage and benefit from extended customer support hours. Either way, with one of these accounts you’re going to have to pay PayPal some amount of money.
The other way PayPal brings in the dough is that the company also earns interest for any money that is left sitting in your account. This part actually makes up a huge portion of the company’s income. With over 100 million members, PayPal counts on those members to leave at least some money in their accounts for a year. As an example, if every one of those members left $5 in their account for a year, then PayPal would make $8,750,000 because of its 1.75% interest rate. That’s great for PayPal, but not so much for its users.
What’s the Advantage of PayPal?
Simply put, PayPal is a fast and convenient method for sending and requesting money online. With PayPal, there’s no limit to who you can send or request money from. Most online stores, public auction websites and shopping websites even use PayPal, like eBay and Amazon.
PayPal is the solution to buying things online from a safe and secure net account. You can buy things from a large number of online and highway shops that include restaurants, petrol stations and market traders.
In addition to feeding your online shopping addiction, you can also receive money (likely as more fuel for said shopping addiction). The money that you rack up in your account can be transferred into cash or it can be utilized to help pay for something else.
Is PayPal Good for Saving Money?
In a quick response, no. You won’t earn interest through PayPal, and instead, the company will be able to pull interest from your account. Plus if there’s any suspicion about your account, like if you have the money sitting there for an abnormal amount of time, the company can and will suspend or freeze your account without notice. It’s probably just best to use PayPal for what it’s intended to do, which is transfer funds for individual and business purposes.
- Get Hired
- How To Get A Job At Costco
- How To Get A Job At Starbucks
- How To Get A Job At Amazon
- How To Get A Job At Target
- How To Get A Job At Walmart
- How To Get A Job At Apple
- How To Get A Job At Tesla
- How To Get A Job At Boeing
- How To Get A Job At Microsoft
- How To Get A Job At Deloitte
- How To Get A Job At Facebook
- How To Get A Job At Google
- Company Specific Questions
- Starbucks Interview Questions
- Amazon Interview Questions
- Chipotle Interview Questions
- Supervisor Interview Questions
- Microsoft Interview Questions
- Home Depot Interview Questions
- Lowe's Interview Questions
- Costco Interview Questions
- Target Interview Questions
- Walmart Interview Questions
- Tesla Interview Questions
- Boeing Interview Questions
- Facebook Interview Questions
- Deloitte Interview Questions
- Apple Interview Questions
- Google Interview Questions
- Fedex Interview Questions
- Kroger Interview Questions
- Ups Interview Questions
- Cvs Interview Questions
- Walgreens Interview Questions
- JP Morgan Interview Questions
- Application
- How Companies Make Money
- Job Description
- Data Analyst Job Description
- Customer Service Job Description
- Project Manager Job Description
- Product Manager Job Description
- Software Engineer Job Description
- Administrative Assistant Job Description
- Web Developer Job Description
- Receptionist Job Description
- Medical Assistant Job Description
- Executive Assistant Job Description
- Server Job Description
- Human Resources Manager Job Description
- Sales Associate Job Description
- Accountant Job Description
- Dental Hygienist Job Description
- Graphic Designer Job Description
- Registered Nurse Job Description
- Elementary School Teacher Job Description
- Company Policy
- Does Walmart Drug Test
- Does Amazon Drug Test
- Does Dollar General Drug Test
- Does Cvs Drug Test
- Does Walgreens Drug Test
- Does Costco Drug Test
- Does Home Depot Drug Test
- Does Lowes Drug Test
- Does Mcdonalds Drug Test
- Does Publix Drug Test
- Does Kroger Drug Test
- Does Safeway Drug Test
- Does Fedex Drug Test
- Does Ups Drug Test
- Does Usps Drug Test
- Does Target Drug Test
- Does Starbucks Drug Test
- Does Aldi Drug Test
- Does Dollar Tree Drug Test
- Does Family Dollar Drug Test
- Does Dominos Drug Test
- Does Pizza Hut Drug Test
- Does Kohl's Drug Test
- Walmart Dress Code
- Amazon Dress Code
- Dollar General Dress Code
- Costco Dress Code
- Home Depot Dress Code
- Lowes Dress Code
- Mcdonalds Dress Code
- Kroger Dress Code
- Ups Dress Code
- Target Dress Code
- Starbucks Dress Code
- Walmart Benefits
- Amazon Benefits
- Cvs Benefits
- Walgreens Benefits
- Costco Benefits
- Home Depot Benefits
- Lowes Benefits
- Mcdonalds Benefits
- Publix Benefits
- Kroger Benefits
- Fedex Benefits
- Ups Benefits
- Usps Benefits
- Target Benefits
- Starbucks Benefits
- Aldi Benefits
- Dominos Benefits
- Pizza Hut Benefits
- Kohl's Benefits