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PayPal

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paypal

Founded in 1998, PayPal, an eBay Company (located in San Jose, California, PayPal was acquired by eBay Inc. in October, 2002), enables any individual or business with an email address to securely, easily and quickly send and receive payments online. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards.

PayPal is an account-based system that lets anyone with an email address securely send and receive online payments. PayPal member can send money to anyone with an email address using the money from her PayPal balance or another funding option. Recipients are notified by email that they have received a payment.

Though PayPal payments are available in several countries (complete list see below) it remains oriented on US users.

We have saved in our archive information on previous features of PayPal — see additional information for details.

There are a lot of complaints for insufficient services provided by PayPal. We also have our account frozen on unknown reason. See also Additional information at the bottom of this page.

Accounts

There are Personal, Premier and Business accounts — all free to open and differ by set of features. PayPal allows members to have one Personal account and one Premier or Business account. However, each PayPal account must contain unique email addresses and financial information. User may upgrade account at any time.

Core features (all types of accounts):

send payments to anyone with an email address
24-hour fraud surveillance
request Money
account Insurance
downloadable Log
email-based customer service
eBay auctions tools (limited)
merchant tools (limited website payments)

Premium features (Premier and Business accounts only in addition to Personal account features):

making business under a corporate name, or group name
accept unlimited credit card payments
payment receiving preferences
subscriptions
mass payments
advanced downloadable logs
7 day-a-week toll free customer service
eBay tools (no limitations)
merchant tools (no limitations)
PayPal ATM/Debit Card

Business features (in addition to Premium features) — multi-user access.

Interface

Account management (balance check, sending/receiving funds, changing profile, etc.) is available only through secure web interface. All sections of web site work correctly (no dead or wrong links). The site has very comprehensive help/FAQ system. Interface language is English.

Availability

The service is available for residents of 45 countries:

Anguilla	Germany	New Zealand
Argentina	Greece	Norway
Australia	Hong Kong	Portugal
Austria	Iceland	Singapore
Belgium	India	South Korea
Brazil	Ireland	Spain
Canada	Israel	Sweden
Chile	Italy	Switzerland
China	Jamaica	Taiwan
Costa Rica	Japan	Thailand*
Denmark	Luxembourg	Turkey*
Dominican Republic	Malaysia*	United Kingdom
Ecuador*	Mexico	United States
Finland	Monaco*	Uruguay*
France	Netherlands	Venezuela*

* 7 new countries added to the list of approved countries in June 2004.

Storage fee

Transaction fee

There is no transaction fees for Personal account. Premier and Business account owner is charged when receiving payments depending on transferred amount, transaction currency and qualification. Merchant Rate pricing is reserved for members in good standing (whose accounts are not currently under investigation) who meet the following criteria:

Been a PayPal member for at least 90 days,
Received more than $3,000.00 USD in PayPal payments in the previous calendar month and
Qualified for special rate status

Total fee consists of a) fraction of transfer amount and b) flat addition:

Standard Rate (up to 3000 currency units) — 2.9% + flat addition
Merchant Rate (3001-12000 currency units) — 2.5% + flat addition
Merchant Rate (12001-125000 currency units) — 2.2% + flat addition
Merchant Rate (more then 125000 currency units) — 1.9% + flat addition

Flat fee addition depends on currency units, used for transaction: 0.30USD, 0.55CAD, 0.35EUR, 0.20GBP, 0.40AUD, 40JPY.

Adding funds

If user has a confirmed bank account, she can add funds to her PayPal account via electronic funds transfer, though members from Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Monaco, Netherlands, Portugal, Spain, Sweden, or the United Kingdom cannot transfer funds from a confirmed US bank account. If user does not wish to add funds to her PayPal account, she may send a PayPal payment using a credit card or Instant (bank account) Transfer.

Account funding is free of charge.

Funds withdrawal

There is no fee to withdraw money to bank accounts in the US. For international bank a minimum amount of withdrawal is required: 1.00USD, 15.00AUD, 15.00CAD, 10.00EUR, 6.00GBP, 1000JPY.

In some countries, members may also add a US bank account to their PayPal account.

For local bank retrieval there are separate fee tables, which differ in each country.

Merchant tools

PayPal system provides interfaces, which enables sellers accept payments online with one click from website, subscriptions and recurring payments, payments for multiple items at one time with PayPal Shopping Cart and more.

Affiliate program

Referrer receives first $10.00 when the Business or Merchant she refer:

Signs up
Verifies Account, and
Sells $1,000.00 USD in products or services.

Each month thereafter, referrer will receive additional bonus payments when the Business or Merchant she refer continues to sell using PayPal, up to $100.00 for each referral in the first six months the merchant has a PayPal Account. Payments received for eBay items will not contribute toward the Merchant Referral Bonus.

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