Paypal.co.uk.

Paypal is a payment processing website that allows its users to transfer monetary funds from one person, group or organisation to another. Sent up in 1998, this e-commerce business is the largest of its kind and became owned by the auction website eBay in 2002.

The website is worldwide (You can send money between around 150 countries) and is a household name amongest many online shoppers. Paypal allows you to send money across the internet via the web. Many people think of Paypal as a kind of bank, which in one sense it is, as it allows people to hold, send and recieve money.

In order to use or set up your own account on paypal, there is only one that you need and that is a valid email address.

When transferring funds from one account to another on paypal, there are a few short steps that you need to do. (Assuming that you have enough funds in your account to start with)

1. Enter the email address of the accountee that you wish to send the money to.
2. Set the amount that you wish to send and choose which currency you wish to send the money in. (There are 16 different currencies to choose from)
3. Simply mark a box that shows why you are sending these funds. (purchasing goods, services, gifts, etc)
4. Press the continue button.
5. Now you have the option of how you would like to send the money. You can use the existing money in your paypal account or (if you have your bank account connected to your paypal account) you can send the money directly from your bank account.
5.Now you click 'continue' and finally 'send payment'

This process is more or less instant and the reciever will/should get the money within a few seconds.

This payment will be logged in your transaction history to prove that payment has been made, if needed and an email will be sent to your email address to further confirm the funds have been sent.

No funds in your paypal? unless somebody sends you funds via paypal then you are obviously not going to have any money in your account. however dont worry as you can always add to your account directly from your actual bank account. All you need to do this is to connect your bank account to your paypal by using your debit/credit card.

You can also transfer money out of your paypal account and put it into your bank account however this is not instant and can take upto 8 days to make the transfer.
You can also decide to withdraw your money from your paypal in the form of a cheque which is anoth great feature but again this obviously not instant.

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From the paypal website:
PayPal accepts the following cards:
Visa / Delta / Electron
MasterCard / Eurocard
PayPal Top Up Card
Maestro
Solo
American Express
Debit cards (also known as bank cards) are accepted if they have a Visa or MasterCard logo.

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Paypal has different types of accounts that you can use depending on what you will be using the account for.

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Again from the website:

Personal Account - This account is ideal if you shop online. Make safer, faster payments on eBay and hundreds of other websites without sharing your details. You can also send money to friends and family for very low fees, or for free with your bank account.

Premier Account - Perfect for both buying and selling, you can make secure payments on eBay and many other retail websites. You can also use this account to accept credit card, debit card and bank account payments for low fees.

Business Account - If you're looking to start or expand your online business, you can choose from a range of Business Accounts to suit your needs. With low fees, a Business Account lets you accept credit card, debit card and bank account payments from over 20 million online shoppers.

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Safety

Paypal is pretty much as safe as a website can be. Paypal offers a guarentee against fraud and identity theft and have a team that works all around the clock to ensure its users are as safe as possible.


In conclusion this is a very good online payment processing site that is very convienient once you figure out how to use it correctly. But they could improve by offering instant paypal to bank account transfer.

Would definately recommend people to use this website, especially if you like to do a lot of shopping online.