Pay pal is described as being an easy, fast and safe way to make payments online. Some of th e big companies that use it include William Hill and Ebay plus many many more. Plus you can also send money to other people as long as they have a valid email address. Pay Pal is free to set up however there are some charges that can be occured on whether you are paying a personal or purchase payment.

In order to set up one of these accounts you need to:-
1) go to their website www.paypal.co.uk

2)Sign up at the top of the page

3)Enter basic demographic information

4)Select the type of account you wish to open (business or personal)

5)Enter personal information; email address and then choose a password for logging in in the future

6) Sign up and agree to ther terms and conditions.

Some Pay Pal accounts come with a credit limit attatched so caution must be taken when setting up this type of account, alternatively Pay Pal will take funds from your bank account in order to pay for purchases made through Pay Pal.

My Personal Experience
=================

I signed up to Pay Pal is 2005 at the same time as I set up an Ebay account. Ebay promote Pay Pal as a safe way to pay so i therefore went for it as I am very cautious about paying for items online. I think i used Pay Pal 3 times in total after making small purchases from Ebay then I forgot all about it. I gave birth to my daughter in August 2006 and therefore had all my timetaken up.

In December 2006 I had a phone call from a debt recovery agency demanding I make a payment to them as the account I had through Pay Pal was in serious arrears and if no payment was made Court Proceedings would be issued and it was likely a debt recovery agency would be sent to my home. Understandaly I was horrified at the accusation and then went on to ask how much was outstanding.. I wish i hadnt bothered; £500,000.

It didnt make sense so I asked for more information and what had been purchased. The man on the phone listed off numerous items including a caravan, a car and multiple Plasma TV's. Anyway, to cut a very very long story short, I requested the date these purchases were made and it just so happens they were made on the day i gave birth to my daughter!

I sent numerous letters including a photocopy of my daughters birth certificate and a numerous letters from the hospital to verify I had been in hospital whilst these transactions had been made. Whilst in hospital I was very poorly, my daughter and I very nearly didnt make it and I was therefore in no fit state to be making purchases from Ebay!!!

After a 6 month battle I got the debt cleared. It was explained to me that my Pay Pal account had been hacked. o just be aware before setting one of these up. I immediately closed my account down and have never used Pay Pal since, and I certainly do not intend to ever again!! I understand some people may swear by it but until you have had a negative experience like mine, remain cautious.