[Paypal account] Instructions on how to create a new and simplest Paypal account – Okey Paypal an account for online payments, almost if you are making money with MMO, buying a Paypal account is indispensable ? PayPal will be an intermediary bridge to help link the money you have in your bank accounts (Bank Account) , credit cards (Credit Card) , debit cards (Debit Card) … to conduct online transactions, with all services that accept Paypal payments.
So what is Paypal? Should I use Paypal to receive and transfer money online? Is it difficult to create a Paypal account? and is the process of linking Paypal account with bank account simple or not? Will those bottlenecks be addressed in this article?
Contents
What is #Paypal?
Paypal is a company, operating in the field of e-commerce, specializing in providing payment and money transfer services over the Internet.
This is an electronic payment and transfer service that replaces traditional paper methods. Paypal collects fees by performing payment processing for carriers operating online.
Founded in December 1998 as Confinity, a security software development company for handheld devices founded by Max Levchin, Peter Thiel, Luke Nosek and Ken Howery. PayPal was developed and founded as a money transfer service at Confinity in 1999, funded by John Malloy from BlueRun Ventures. Currently managed under the management of Ebay company headquartered in California, USA.
In short, Paypal is the largest online payment gateway in the world. You can use Paypal to buy goods, services, transfer money to friends. You can also receive money via Paypal and then transfer it to a Vietnamese bank.
#Should I use Paypal to receive and transfer money?
This is a payment transfer company, the money is very reputable, even if you transfer the wrong money, you can get it back thanks to Paypal intervention. In terms of fees, in general, all payment gateways have free & paid modes, no payment gateway is completely free. Paypal is no exception, you can use the free and fee-based money transfer feature.
#Free money transfer
If you use Paypal to transfer & receive personal money, friends send each other, family members send each other, Paypal always supports Send to a friend form.
With this option you will be free. However, only send to people you trust. In some cases, if Paypal detects that the Paypal email address you send to is abnormal, your account, and that of the recipient, are susceptible to being flagged or blocked for 180 days.
#Fee money transfer
If you buy goods online on websites, click on the purchase payment buttons, or when sending money from the Paypal homepage with Pay for Items/Service mode, Paypal will pay a transaction fee of 4.4% + $0.3. However, this fee will be charged to the seller, not to you, so don’t worry.
#Withdraw money to Vietnam account
Normally when you withdraw money to a Vietnamese bank account, you will encounter the following disadvantages:
- The transaction fee is relatively high, about 60K or more
- You are subject to a lower USD/VND conversion rate than the market.
Therefore, the cost is not small and the exchange rate when withdrawing to a Vietnamese account is quite low, so you need to consider withdrawing once to avoid high fees due to many sporadic withdrawals.
#Prepare what to create Paypal
- 01 active email address. I usually use gmail for convenience.
- 01 Visa card with at least 2$ in the account. (read the article creating mastercard to know how to create)
- Your ID number.
- 01 personal phone number.
And you must have an Internet connection.
#Create a Paypal account
After you have gathered all the factors above, the next job is to visit Paypal.com, select Sign Up Now.
Okay! At this point, there are 2 account options, including Buy with Paypal, most individuals choose this one. Until you have a more professional business, then choose Recceive payments with Paypal (you can also choose this type as an individual).
#Personal and business accounts
I personally choose Buy with Paypal (you can upgrade later) > Click Get Started .
Next, fill in the required information.
Including:
- Country/Region: Select Vietnam
- Family name: Enter your name
- Middle name: Enter the middle name
- Given name: Your last name
- Email: The email address you are using (Gmail is recommended for ease)
- Create your password: Password (greater than 8 letters including lowercase, uppercase, numbers and special characters)
After filling in, click “Next”.
Continue to fill in other information about yourself such as ID number, Address, phone number ….
After filling in the box “I confirm reading,…” > click “Agree and create an account”.
#Visa card link
At this point, a window appears asking you to add a Visa card.
- Card Number – Is the card number printed on the front of the card (with 16 numbers)
- Expiry Date – Card expiration month & year, also shown on the front
- CVV number – 3 outermost CVV numbers on a white background
ATTENTION: These 3 information you must not give to anyone, because they can spend money on your card.
When done, click LINK CARD and complete the registration.
Then click on the Paypal logo or click “Go to account” to return to the account interface.
#Paypal account activation and verification
Verifying Paypal will help your Paypal account work stably, without limitation when paying, and also let you easily pay online by Paypal: When paying with Paypal, money will be deducted at VISA account always, no need to enter a card.
Before going into the details of how to verify, open the email you registered with paypal to see a letter asking to confirm their mail. Click the Confirm My Email button.
In the Paypal interface, in the Balance section, click on the card you just added, to proceed with account authentication.
Read the article linking Viettel virtual MasterCard on Paypal account to know how to authenticate Paypal account with MasterCard card.
Okay! Once done, your Paypal account can be used to receive and transfer money safely.
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