The advantages and disadvantages of PayPal

Advantages of PayPal

PayPal

It is very important to know that PayPal is the most widely used online payment processor in the world , It is the most reliable of money transfer method , PayPal is generally used for the money transfer using the e-commerce tool from one place to another . 

 

You have to know that there are more than 87 million users all across the world who benefit from the services of PayPal , Many people who shop avoid giving their credit card or checking account details to any vendor or online store , The Web store never gets the bank details of any customer ,The customers get a trust and confidence of shopping from anywhere using the PayPal account .

PayPal

It is very important to know that opening a basic PayPal account is free , You do not need a special technology nor a business license to send and receive the money through PayPal , The only requirements are a valid email address and a valid credit card or bank account .

 

You have to know that when you want to send the money to your children at college or a friend in trouble across the globe , PayPal users can transfer the money to them with just a click of the mouse , You can  save the time and the money .

 

You should know that PayPal is quick and easy for the buyers to use  especially if they already have a paypal account , It is cheaper and easier to qualify for a PayPal account than a business merchant account ,  Ebay owns Paypal ,  so if you spend a lot of time on eBay , having Paypal comes in handy , A lot of eBay sellers only accept Paypal payments .

PayPal

You have to know that the customers are still hesitant when it comes to payment over the internet because they are not able to see their cash moving and being accepted , The brand name that PayPal has boosts customer confidence ,  PayPal ensures that the webstore and vendor never get the credit card and bank account details of the customer . 

 

You have to know that if someone complains to PayPal about a product you delivered to them ,  They keep the product and you have to refund the money , PayPal gives you the option of paying and accepting payment in 23 currency types , The international payments often incur the currency conversion charges .

PayPal

You should know that PayPal has multiple account options , You can choose between a personal account , a student account or a business account , A single person can own multiple accounts in multiple categories , Each of these accounts carry different privileges and have different rules , A personal account has no transaction fees when it comes to transfer the  money between PayPal users .

 

It is very important to know that PayPal has more than 230 million accounts registered and it allows the customers to send , hold and receive the money in 190 countries in the world , PayPal features support for 24 different currencies .

 

You should know that PayPal allows the people to start their own businesses and work as a third-party service in the transactions they make , There is a specific limit of money a user can receive per year , If you want to have an unlimited account , you will need to provide personal information and verify the account .

 

It is very important to know that PayPal has a service called Students’ Account which permitted the parents to give the students the money on a debit card , It is very easy to set up and is very elegant , It does not  take more than few minutes to set up an online shop with support for PayPal . 

 

You have to know that one of the most important assets of PayPal is its brand and name recognition , Although the people are still reluctant to pay on the internet , they trust PayPal if they need to process the money online , because it functions as a third-party service , PayPal makes sure the customer’s credit card and bank account number do not get in the stores’ databases , Security is important and PayPal seems to take care of it as well as possible .

 

You have to know that PayPal is guaranteed against fraud , It guarantees 100% protection against unauthorized payments from your account , You can save your time , avoid long lines and spending valuable time in going to the bank .

PayPal

You have to know that you can send the money abroad , When you are sending the money to different countries , PayPal provides you the lowest price and it is also the fastest and safest way to ensure your money will reach to its destination .

 

It is very important to know that you can save your money , PayPal offer you a variety of coupons that will help you save the money while shopping at your favorite stores online , PayPal discount coupon is providing a secure way to shop at a great price .

Disadvantages of PayPal

PayPal

You should know that you get stuck with the strict rules and frustrated with the customer service , When you decide on an arbitration ,  The account gets frozen and PayPal policies give it complete control over your funds , And there is no scope for outside arbitration , So , The troubled customer wait and wait , The investigation goes on and there is no documentation that is provided to the user .

 

You should know that PayPal can become very expensive , If you sell a high volume of low cost , low profit products you may find your profit is almost entirely eaten up by PayPal fees  , and the fees for non PayPal account holders paying by credit card are even higher .

 

Everybody must know that the worst thing about PayPal is the difficulty to solve the issues and investigate cases , There are many issues over time with trying to contact the customer service , When you manage to get a hold of them , It seems that there is no one at the end of the line and some emails only get automated responses , There have been reports of accounts being automatically charged without the knowledge of the user . 

PayPal

You have to know that PayPal is famous for their lousy customer service  , This includes hiding their phone number and only sending out the automated responses to emailed queries , PayPal has a large number of people who hate it , most of them people who have had their accounts with thousands of dollars frozen and had to try and chase PayPal for months to get it back .

Everybody must know that many people consider PayPal a merchant account for online business amateurs , and believe that professionals have a real merchant account  , PayPal is very vulnerable to fraud , If someone cheats , either by losing the money or getting the account frozen .

PayPal

You should know that due to the security threat and issues of terrorist attacks , there are strict rules that restrict the number of transactions through PayPal , The slightest suspicion leads to the locking of the account , It takes quite a long time for PayPal to do its investigation and give a clean chit to the account , The Money could thus get locked in or held up for long periods .

 

You must understand that while the setup is easy , getting the account functional can be a hassle , You have to provide your account number and routing number , PayPal then makes token deposits which you have to wait for 5 days to arrive in your account , This has to be filled into your PayPal account to activate it , If you do not have the facility for internet banking then the problem only gets compounded , You may have to wait weeks to get your statement in the mail .

PayPal

You must know that PayPal is not the solution for all buyers and sellers , Using it for very small businesses could end up in making them pay much more than reap benefits ,The large businesses that build and sell brands would not prefer PayPal due to lack of complete customization and absence of brand building features , PayPal is best suited for medium sized businesses , As for the buyers , this is a good option to complete online shopping and auctions .

 

Everybody should know that PayPal may limit the amount of money you can send , receive or withdraw from your PayPal account if they believe you are breaking the terms of service , You cannot sell prescription drugs or firearms using PayPal .

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