PayPal | Secure Payment Platform, Pros and Cons

PayPal.com is a huge platform where you can hold your money in the form of a PayPal balance. You have the option to link your debit and credit cards from different banks or card providers.

It is recommended if you want to send money to someone and receive money and lots of people, already, use this as their main digital wallet.

You can create an account from either the home page or you can use your phone to install the app from your device’s App Store.

Keep in mind that you need a valid email address because you are gonna need it in order to verify your account.

Note: Your email address becomes your user name when you log into your PayPal account. Make sure you have a very strong password for protection.

Personal PayPal versus PayPal Business

Personal PayPal is for those people who only want to buy and send money (simple transactions). This type of account does have small protection against fraud, especially if you buy things or services.

Business Account offers many merchant services, it allows you to accept credit and debit cards. For tax purposes and accounting purposes, it’s much easier if you have a business account separated from the personal one.

Pro-business accounts do costs around 30 bucks per month but you really get the full control of your account. For people who buy or sell lots of stuff on the internet, A Standard Business Account might be a good option for you.

Note: All your private details (bank account numbers, credit or debit card numbers or any other sensitive information) are secure inside your PayPal account.

When you pay with PayPal, none of that sensitive information is provided to the seller. This way, you avoid being hacked. The only information they (the sellers) will get is your email address and shipping address.

How PayPal works?

When you want to send money to someone else, that money will come from either from your debit or credit account or any other entity linked to your account.

You can pay using the PayPal balance or you can use any bank account linked to your PayPal.  

How to verify your PayPal account?

It’s very simple to verify your account. Just add your debit or credit cards and that’s it. You are verified.

If you don’t verify, they will limit your account on how much money you can use or how much you can use their service. So, it is recommended to verify your account.

When you add a card to your account, make sure you have on your card almost $2.00/€2.00. This cash will be taken off your debit or credit card account balance and refund it within 24 hours.

In your bank statement, you will see something like this: PP*XXXXcode. Enter the code (a 4 digit code) in your account and after that, you can complete the verification.

Your account is verified? How to verify?

Follow these simple steps to see if your account is verified.

First step, click the “Help” tab. Type verify like in the image below:

Paypal Verify

Now you will see verify your PayPal account. Click on that link. 

How to verify

That’s it. Now you can see if your account is verified or not.

Verified Account


What to do if you have PayPal problems? 

If you have any problems with PayPal, one solution to fix your issue is through the Better Business Bureau website. It doesn’t matter in which country you live, you just need to submit your case and they will help you.

If you feel that PayPal scammed you then use this option to resolve your complaint. But, what is BBB?I will start by saying what is not BBB. You need to understand that BBB is not a control agency from the government before you send a complaint.

It is a private company who earn their money when you register and need their help to resolve your problem. It’s free for the customers (if you want to open a case there). But it’s not free for business owners (who want their own businesses listed on BBB).

They can rate various businesses with grades from A to F (BBB rating). It is something similar to the grades you receive at school. If the company doesn’t respond to a customer, BBB will try to help the customer by referring to a local agency that can take further action.

My conclusions…

It’s a good option to use PayPal when you just want to send a payment to a friend or to pay someone for his services or any other product. For those who just started to earn money online, this is an easy way to get paid.

My advice to you is once you cross that threshold of thousands of dollars per month you are processing in your business or any other activity you are involved in, you need to find another payment option for your money and stop using PayPal.

Stop using PayPal and move to another payment option.

Why do you ask?

Because of the risk of your funds being frozen. There are many complaints on the internet about how easily can PayPal block your funds or lock your account.

There are lots of people who were sharing their nightmare stories about how PayPal destroyed their businesses by holding their funds. PayPal can freeze your funds for a period between 6 and 9 months or even longer than this.

It can be really problematic and very stressful for you. In theory, the reason why PayPal freezes your account is to cover the possible or future refunds and disputes.

Don’t make PayPal your main payment option to make transactions online.

More payment options you can find here.

Thank you for reading.

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