paypal.com (paypal.com)

Member Name: thole09

Product:	paypal.com
Date:	12/10/09 (47 review reads)
Rating:

Advantages: Quick transfer of cash

Disadvantages: Telephone verification may not work

PayPal is an e-commerce website which allows the transfer of money through the Internet. First launched in 1998, it has since been purchased by eBay and serves as an active subsidiary. Registration is free but may require fees based on account usage.

I've always been slightly hesitant about providing my bank details and credit card online. As a lurker on eBay, the PayPal name has always been familiar to me but I have never felt compelled enough to register an account. I was quite happy to send postal orders and banker's drafts to auctioneers and experienced no trouble in having these accepted over an immediate PayPal transfer. I eventually came across "get paid to" Internet offers and noted that these required an active PayPal account for payment and participation. That was the straw which broke the camel's back and I headed on over to paypal.com to see what the fuss was about.

PayPal.com boasts a very sleek and corporate-like design with an interface that is easy to navigate. The website is predominantly blue text on grey hues and I find this generally easy to read. At the top of the page is a menu system which holds the numerous sections and information available. To the left of the home page is the log in or sign up areas. "Sign Up" is accented in gold and stands out from the rest of the page; a hint perhaps? The registration page recognizes most British based computers as being in the United Kingdom and offers the user a selection between personal and business accounts. Personal accounts are free to send and receive money, but if PayPal subsequently discovers at a personal account is making too many transactions then it may be automatically upgraded to a business account without further acknowledgment from the user and incur business rate fees on each transaction. The user then fills in basic details including name, address, e-mail address and telephone number. After clicking sign up, the user will be brought to their new account which resembles many commonly used e-mail services.

A newly registered account is unverified meaning it is restricted in the amount it can send and receive. To lift these restrictions, the user must verify his or her account. This is done through both card verification and location verification. The location verification will call the telephone number on file, so accuracy is of dire importance when registering, and request that the user input a set amount of numbers into the phone. These numbers are provided on screen before the call is made. If a verification on the phone is unsuccessful, as mine was, a letter will be sent in the post which contains a strand of digits. This letter took about two weeks to arrive on my doorstep. The user must then input these numbers into a link which PayPal provides and his or her location will then be verified. After this step, the bank account or credit card on file must be verified. PayPal will send two small deposits and the user will be prompted to input what these deposits were. I can't remember exactly what was deposited into my account but know the total was less than 30p. These deposits can be a lengthy wait as mine took about one week to show up on my online statement.

After these two steps have been completed, the user should now have a restriction free personal account. Paypal's use is simple as the account page is very well laid out and straightforward. "Send Money" and "Transfer Money To Bank Account" are my two most widely used actions. The send money prompt is very similar to an e-mail in its composition. To send money, a user must first have an available balance on his or her PayPal account and know of the recipient's Paypal e-mail address. Inputting this will reveal the recipient's name and address on profile and the user may then send or cancel the payment. If an account is not available at a specified e-mail address, an e-mail will be sent containing a registration link and after the user registers his or her account will receive the payment sent. Transferring money back to the bank account is simply inputting the value to be sent back and playing a lengthy waiting game. My Lloyds TSB current account takes about 10 days after requesting a transfer on PayPal to be received.

As an occasional PayPal user, I have found the service provided to be excellent and have had no negative experiences. I would happily recommend it to those seeking a quick and convenient way to transfer money online.

Summary: Thumbs up