If you plan on doing any business online, it’s a good idea to have a way to send and to receive money. Often, merchant accounts cost so much — what with set-up fees, monthly payments and transaction fees.
When I was researching on the best way to send and to receive money online a few years ago, I couldn’t find anything feasible, especially as a beginner with little budget. I looked at different merchant account services and came to the conclusion that I just couldn’t afford to maintain them.
Enter PayPal. With availability in many countries, $0 set-up fees and no monthly rentals/payments, I knew this was going to be the online payment option I’d go for.
There are three types of accounts: Personal, Premiere and Business. If you only think you’re going to use PayPal for sending money/paying for your online purchases, then a Personal account should suffice. However, if you wish to be able to conduct business online regularly, then it’s a good idea to have either a Premiere or Business account. Premiere or Business accounts give you the opportunity to receive different types of payments – PayPal-to-Paypal, Credit Card payments, and eChecks.
It’s always free to send money or pay via PayPal. Usually, the merchants are the ones who pay for the transaction fees. And these transaction fees are pretty reasonable. One “down side” of PayPal, however, is that if you work with different currencies, you tend to get a lower exchange rate when withdrawing your money from PayPal to your bank. But, the difference in exchange rates is still minimal.
So, overall, it’s definitely a tool/service worth having if you intend to make money online.
To set up your own PayPal account, click on the banner above or click on this link.
Overall Rating: (9/10)
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