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How to Use PayPal - 2024 Update
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Jun 10, 2024
In this video, you'll receive an updated guide on how to use PayPal effectively in 2024. The tutorial covers essential aspects such as setting up a PayPal account, linking your bank account or credit/debit card, sending and receiving payments, and managing your PayPal balance. You'll also learn about new features and updates introduced by PayPal in 2024, ensuring you're familiar with the latest tools for online payments and money transfers. By the end of the video, you'll have the knowledge to navigate PayPal confidently and leverage its capabilities for personal or business transactions.
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0:00
I'm going to share with you a simple step-by-step guide here for using PayPal
0:04
and we're going to use it here on PayPal.com. On the computer, PayPal is one of the most popular apps and websites out there
0:11
for sending and receiving money online worldwide. And they also have mobile apps here that you could get
0:17
and they will sync to your PayPal accounts on this website. So we'll go ahead and get started here on PayPal.com on the computer
0:24
So if you haven't signed up yet, you could go up here to sign up
0:28
and I'll show you the sign-up process here. quickly, but you have two different types of PayPal accounts that you could create
0:34
Now, if you just want to use PayPal to shop online or to send people money here
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you could go ahead and use this option, the personal option. If you have a small business, if you want to collect money online, if you want to create
0:46
payment forms, invoices and things like that, this is the option that you want to sign up
0:52
for the business accounts. The only difference between these two when you go ahead through the sign up process is kind
0:57
of how you sign up into your account. So if I get started with a personal accounts
1:02
it's going to ask me to type in an email here, and that's going to create my accounts
1:06
and it'll walk me through setting up an accounts and verifying my personal identity
1:12
If you choose the business accounts and get started here, it's going to ask you questions about your personal identity
1:17
but then you will ask you a question about your business, like your EIN number
1:21
If you're in the US, for example, if you're a nonprofit, it's going to ask you some specific questions there
1:26
and then you could create your account from there. Now, I already have to, have an account. I have a personal and a business account. So I'll go ahead and log into my personal
1:34
accounts. So I recommend choosing personal or business depending on your need and get started. And it's
1:39
very step by step on the account creation process. So I'll skip through and log into my own account
1:45
to show you the rest. Okay, once you set up your account for the first time, you're going to land
1:49
on this page over here. And this is the homepage of PayPal. And this is a personal account
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I'll show you a business account in a second, but I have a dedicated business account video
1:59
as well. Really the things that are different between personal and business are really where the
2:04
menu is laid out. So let's take a look at a personal account here. If you look on top here
2:09
you always land on the homepage and we'll go through this in a little bit more detail. You have a
2:14
finance tab over here as well. On the finance tab, you're going to have two options. You could buy
2:18
cryptocurrency here like Bitcoin and then you also have online savings. I'm not going to focus on these
2:23
in this video. I'll go to send a request. Over here, you could send money to other people. I'll show you
2:28
this in a little bit. We need to do something else before we can do that. We could also request
2:32
money from other people and add contacts here. There's a rewards tab here. So depending on what you
2:37
do on PayPal, you could earn reward points and then get cash back value for that. So for example
2:43
if you refer a friend sometimes you could get money back that way Sometimes depending on what kind of card you use you could get money back with rewards And there wallet and activity Right now let me go to wallet because the very first step after you sign up a PayPal account
2:57
is in the wallet tab here. And here we need to add a bank accounts
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And I already have some bank accounts here. So on the very top, you're going to see your PayPal balance
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Yours is most likely going to show zero if you just signed this up for the first time
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But this is where the balance will always show up. Now, this balance always stays inside of PayPal, so you could use your PayPal balance to pay for things
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but you could also transfer that money out into your personal or business bank account from here
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If you don't transfer it out, it will always just sit here for as long as you have this PayPal account
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The very first thing we need to do is we need to link either a bank account or a credit card
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Without doing that, we cannot use PayPal at all. So we do need to link something here, so PayPal is
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is connected to some kind of a payment method. And these are the options you have
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So you could link a debit or credit card. So if you're using PayPal to pay for things
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you could pull directly from your bank or from your credit card. You could also use just a direct bank account option
4:00
So this will just have your bank routing and account number here and pull directly from that
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So you could withdraw money from your bank account and throw it onto PayPal
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You could also take your PayPal balance and transfer it directly to your bank
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bank account too. So I recommend both of these if you have both of these. So I have a credit card
4:19
attached and I use that for pay for things. And I have my bank account attached so I could actually
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withdraw money directly from my balance when I sell things on eBay, for example, right into my
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bank account in this personal account. And there's an Amex option too if you have this type of credit
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card. So if you link a bank account, all it's going to do is it's going to let you choose a bank
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over here. So if you have any of these banks and you could search for a bunch of other banks here
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the search bar on top. And if you select one, it's going to give you a pop-up here where you could sign into your
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bank using your bank's information like your username and password. And it will link it over here to this account once you do that
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Now, I've already done that with this account. So let me exit here. And once you do that, it will appear over here
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And you could do this with multiple different bank accounts. So sometimes if I'm using this for business or personal, I have different accounts attached to it
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And then you could also go ahead and add a credit card. And that's this option right here
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So if you choose this option, you could simply choose debit or credit card. And then do this process manually here and then link your card that way
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So then you could pay for things using your credit card, but it will go through PayPal
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Okay, now that we have a payment method set up over here, let's go to the homepage
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And the homepage is basically going to show you everything that I've kind of covered in the same page
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So you could quickly send and request money right from here This is the most common ways to use PayPal is you either want to send money to someone or you could request money from someone And there are options here that you see like creating invoices
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And for business, this is going to come in handy as well. They have that. There's a send again option
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So if you send money frequently to people, they'll appear over here as you add them
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I'll show you these two options in a second. Your PayPal balance that I showed you that also appears over here
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So you can go out and transfer this out. I'll show you this as well and everything else shows up over here, including your paid account
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So this is really the only page once you set it up is the only page that I typically spend time in is the homepage right on top
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So if you want to send money to someone, just go to the top here and go ahead and press send
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And in order to send money to someone, you need to either know their username here, their email or their phone number
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So ask for that. And then you could type that in over here. And then it will pull up this page here where you could type in an amount, like if I was to send $10, you could put a little
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You could put a little memo. What is this for? You could type that in here. Press next
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And then over here, it's going to let you pick from all kinds of different payment methods that you've connected
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So here, for example, if I had a bank connected or a credit card, I could go ahead and choose between them
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I just have to press this arrow. And then you could see it's pulled up the different options that I have over here
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And sometimes if you have a balance that you could use, it's going to let you pull from that balance as well
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And you could also add other payment methods here if you have a balance. if you haven't done so already
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So if you just added a bank, but now you want to add a debit card, you could go ahead and add that here
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and then press next and continue. And then you could also choose over here
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says friends and family. You have two different options. So if you're just sending money to friends and family
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this is fine. So there is no purchase protection. But if you choose this option, basically
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you could get a full refund if the item is lost or damage
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So this is called purchase protection, something you wouldn't get otherwise and you could read more about it this way
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way, but this is one of the main reasons why people like PayPal for this purchase protection
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program. Now, on the homepage, you could also request money. Let's say I sold something to someone
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or a service. I could request money this way by clicking this one. Now, again, I have to ask them
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how they sign up for PayPal. I need either their email or username or their name and then type
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that out over here. And then over here, type in that amount that you want to request and then type
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in request money. You could also split a bill this way too. And then you could go ahead and type in a little
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memo of what this is for, and then press request and they'll get an email here to go ahead and pay you
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with one click through their PayPal accounts. Now, once you have a balance, basically if someone
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paid you here on PayPal, so this is something, for example, I sold on eBay, they paid me via
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PayPal and it's just sitting here. And I could use this, again, this balance sometimes to pay for
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things so I don have to transfer it But in this case I want to transfer this money out of PayPal into my regular bank account So if I press transfer money it going to let me transfer it directly to my bank It going to let me send it internationally Or I could even
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request a check by mail if I want. So let me go ahead and choose this first option. This is the most
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common one for money out, money going out of PayPal to somewhere else. Now, depending on your bank
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you might see this instant transfer option. So if you see this option, you could say transfer in
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minutes where you can press not now and then it's going to bring you to this page here where you
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could decide how much of the money you want to transfer out and this is something to pay attention to over here
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if you choose in minutes they will charge you a fee but if you choose the regular option that takes one
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to three days here on my accounts there is no fee so typically this is why you want to choose you don't
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want to pay a fee unless you need the money ASAP and this one just takes a few minutes again you could
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choose where the money goes if you have multiple bank accounts attached you could go ahead and
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change this option over here and choose a different bank accounts. It's going to show you the transfer
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amounts and it's going to show you that it is free. So if I want to transfer this or if I want to
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type in a different number, let's say in this case I just want to transfer $50 out of my available
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$169. Choose the free option. It's the right bank. I'm going to transfer. I'll click here and there you
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go. So this $50 now moved out of PayPal directly into my bank account, but it will take one to three
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days here for that to happen with that free option. So your wallet over here is really where you want
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to get started. This is your digital wallet. So you need to connect anything that you want to use
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to use PayPal's protection here to pay for things or to request money. Add those over here
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And then you could send them request money from here. And sometimes in different websites
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you also see a PayPal button. So then it's going to ask you to log in through that. And then you
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could use this PayPal account and this PayPal balance or the different things you have inside of your
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wallet to pay with the PayPal button once it's all set up. Now I just quickly log into my PayPal
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business account, which is a whole different account with a whole different login and whole different
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email just to kind of show you what that looks like. But right on top over here, you'll see a different
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type of menu on top. So you'll have your activities, which shows you everything that you've done here
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The PayPal balance is still right over here. So you could go ahead and transfer your money the same
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way as you did before, like I showed you in the personal accounts. They also have this quick
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link option here on the homepage. So if you want to go ahead and send money, you could choose this
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option over here. If you want to request money, you could choose this option. But they'll have a bunch of
10:55
other things here in the business account. So you can create a PayPal checkout for your website
11:00
You can go ahead and send invoices to people. So I have an entirely dedicated video to the PayPal
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business account. If you want to kind of see how this works. So I mainly covered the personal accounts
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in this introduction video. And obviously there's apps to that I'll cover in upcoming video
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And that's how you use PayPal. I hope you found this useful and I'll see you on the next video
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