Newest Review: ... or receive a large sum of money then its no good. I really trusted them and have never had any trusting issues so I would recommend them ... more
paypal less useful than it was
Member Name: davidmiddleton87
Advantages: most people never pay anything
Disadvantages: could lose your money
Paypal is not really a bank at all but a way of transferring money cheaply from party to party. I have used paypal for a long time now and never paid them any money to send money. I never intend to either as most banks will do the process for free. However there is an element of protection which paypal offers you which you could also get from a credit card but not from a debit or cash transaction.
This is the reason it is so popular with internet transactions but things can and do go wrong although never with me.
The usual things are a buyer sends the money in the expectation on receipt the goods will be delivered. If they are not then paypal will take the money off the seller and return it. However this can only happen if the buyer has been slow to remove his cash from their account. If some con artist takes your money and runs before you tell paypal then you are out of pocket.
Summary: the famous money transfer service