With the popularization of the Internet come ways to use it for financial management and transactions. PayPal is one such company that offers financial services, such as paying for products at online stores, receiving income and making debit transactions.
When you create a PayPal account, you can transfer money into this account from your bank. This process might take several days. You can also receive payments for products or services.
Shopping with PayPal
After money is in the account, you can use it to shop online at stores that accept PayPal as a payment method, such as eBay, Walmart and Tiger Direct.
You may also be eligible to sign up for a PayPal MasterCard. This card deducts money from your PayPal account when you make a transaction with it.
PayPal and ATMs
Some ATMs (automatic teller machines) accept PayPal MasterCards, allowing you to withdraw cash directly from your PayPal account.
Other PayPal Accounts
You can also transfer funds from your PayPal account to someone else's PayPal account. This process may take several days.