Paypal (paypal.com)

Member Name: sambarwell

Product:	paypal.com
Date:	03/11/08 (33 review reads)
Rating:

Advantages: Quick Money, and payments

Disadvantages: Charges

Sending money long distance can be worrying, as a cheque would then be your next choice for security, it takes a long time to get there and even longer to clear.

Paypal is an online bank that lets you send and receive money instantly. Well when I say bank, its more a piggy bank, as you don't get interest, its just for keeping it safe.

First of all when you have set up your account, you can then put some money into your account, to do this you add your bank card to it, but you don't need one to have the Paypal account.

To receive money, it's as simple as just click accept, and sending is as simple as typing in the persons email you wish to send it to.

Now here's the little details: on certain money you receive Paypal charge you tax and also take commission off of it, and if you send money to your bank account, they charge you 25p, if it is under £50.

I have never had any Paypal charges, as I just receive amount of £5-£10 and then put £50 or more into my bank account.

There are also more types of accounts, such as business, but as I don't have one, I have never used that feature.

Summary: Great idea, but its just the charges