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Step By Step Process To Create Paypal Account

As everybody known, Paypal is the most safest online payment method since it will not expose your credit card numbers and you just need to provide online merchant with your email address that you created to pay for your transaction or transfer your Paypal fund. There is no fee to join or open a Paypal account.

If you make money online, then you must have a PayPal account. Many corporate make use of its as it is a quick way to send and receive payments online. And, Paypal customers may transfer money to their regular bank account without any Paypal fees.

For your additional information, Paypal is a subsidiary of eBay, which is the one of largest companies on the Internet.

Types of Paypal Account

Basically, there are 3 types of different accounts you can sign up with Paypal:

Personal Paypal Account - this is for individual who use the Paypal account to purchase things online. You can receive money from Paypal instant transfer. There are no fees to receive money, and you will be charged only US$ 5 per withdrawal.

Premier/Business Paypal Account - If you are doing bigger transaction like selling goods online daily. Then it is advisable to create premier/ business account to lift up your monthly receiving limit. However, you need to pay some fees for receiving Paypal fund.

Easy Steps To Create Paypal Account

To create your Paypal account:

i) Sign up for an account by visiting the PayPal website and clicking the “Sign Up” link located at the left side of the page.
ii) Choose your country or region
iii) Choose your language
iv) Pick the Paypal Account type of your choice

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Know The Basic Rules of Paypal Before Making Online Purchase

I have received an email from my reader who asked me about online buying stuff. He asked me whether still could contact Paypal or Western Union get back the money if the item was not received or shipped by seller.

Based on my understanding, i think the person need to lodge a complaint to PayPal within 30 days. If they investigate and find it is true, then you should get back your money. BUT with the condition ONLY IF the seller has not withdraw money out of his account! So, PayPal is NOT 100% safe for buyers.

How Does Paypal Works?

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Withdraw Payment Via Western Union

Last time when I went to Public Bank, the only thing that makes me feel curious is the new payment option, which available now in Malaysia – Western Union. I did use paypal but never use Western Union before. After done a lot of research, I found that the difference between Paypal and Western Union is not much. Paypal is owned by eBay and more advertises on security issue whereas Western Union does not but you will know whom you are sending money to.

There are 4 Malaysia Western Union Options currently:

=> POS Malaysia Berhad
=> CIMB Bank (charge additional US$15 for US cheque greater than US$1000, from other people opinion).
=> RHB Bank Berhad(exchange rate will be better a bit, from other people opinion).
=> Public Bank Berhad

In other countries, there have more Western Union agent locations. You can find it in POS office, banks, supermarkets, travel agencies, airport, train and bus station, and currency exchange offices.

Advantages of Using Western Union

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How Paypal Calculate Exchange Rate?

As you known, Paypal is worldwide acceptable Internet Payment Gateway. And it provides us more comfortable and trustable way to do online transaction.

Back to 3 months ago, I made a $500 withdrawals direct to my Public Bank debit card. And I checked the bank exchange rates (USD->MYR) for that day was 3.18. The exchange rate that appeared on my credit card bill was 3.15 only. That’s an average of 0.03 differences for that transaction. This means that PayPal will straight away convert our withdrawal amount (maximum withdrawal of US$500 per day) to Ringgit at their own lower USD/MYR currency exchange rate. Besides, Paypal also charges $5 withdrawal fee.

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How to Withdraw Paypal Fund?

As everybody known, you can easy withdraw your Paypal fund to debit card, or prepaid cards. The process only involves 3 steps.
i. Log into paypal
ii. Specify the amount to withdraw and the card to credit.
iii. Receive funds on your card

It’s good news especially for Malaysian PayPal members who can only send or receive PayPal funds previously but not have an idea on how to withdraw funds.

Besides Malaysia country, it’s also available now in some other countries like Argentina, Brazil, Bulgaria, Chile, Iceland, Indonesia, India, Israel, Italy, Philippines, Romania, Turkey, Uruguay and so on. Read More …