PayPal rose to prominence thanks to its close ties with eBay, and now it's one of the world's largest Internet payment companies, with over 18 million UK residents signed up.
- Unite credit cards, debit cards and bank accounts in a single, online space
- Pay online with just your username and password
- Receive payments from individuals and businesses, which can be used to make purchases or transferred to your cards/bank accounts
- Send and receive payments using a mobile number and PIN
- Pay in-store at selected outlets
PayPal Access Card
- A physical MasterCard debit card linked to the PayPal e-wallet
- Make payments like a normal debit card
- Withdraw PayPal funds from ATMs
- Touch payment with PayPass
- Receive payments in-store
- Receive payments via online stores
- PayPal Here card reader accepts card payments anywhere
- Receive money transfers
How do I sign up with PayPal?
The online sign-up form is free, quick and easy, you'll just need to supply your:
- Email address
- Chosen password
- Physical address
- Bank or credit/debit card details
- Date of birth
Verification will be necessary for certain services, which means you'll need to supply PayPal with:
- Proof of identity (a scanned copy of your passport or driving licence)
- Proof of address
At the time of writing, the PayPal Access Card is available by invitation only in the UK.
Who accepts PayPal?
eBay is directly linked to PayPal, but thousands of shops, both online and on the high street also accept PayPal. A full list is available on the PayPal website, and includes all major online gambling sites, including Betway.
The PayPal Access Mastercard is accepted everywhere that accepts MasterCard, and PayPass can be used for travel on London's TFL network.
How much does PayPal cost?
Owning an online account, including the e-wallet and PayPal app, and making payments is free. However, some services are charged. These include:
- Currency conversion. Paying in a currency different from that of your PayPal account will incur a conversion charge of between 0.4% and 7.4% of the transaction, depending on the currencies and whether the money comes from a bank account, debit or credit card.
- Transferring money abroad. A cross border fee of 0.3% and 7.4% of the total transaction is applied to money being sent abroad, depending on whether you fund the transfer with a bank account, credit or debit card, and where the money is sent.
- Receiving payments. Money transfers are free if funded by PayPal balance, bank account or debit cards, but credit card transfers carry a 3.4% + 20p fee, and the sender chooses who pays.
- Seller fees. If you're selling, whether via eBay, virtual store or real store, fees range from 1.4% + 20p to 5% + 5p per transaction.
PayPal runs seasonal promotions and exclusive discounts for its members; all of which can be found on the PayPal website.
PayPal offer all users Buyer Protection, so if a purchased item fails to arrive, or doesn't match the seller's description, PayPal will reimburse you. Transactions never involve sharing personal or banking details, reducing the risk of fraud; and PayPal encrypts and monitors every transaction, 24/7, to prevent against fraud and identity theft. PayPal also have a dedicated Resolution Centre to deal with customer problems and payment disputes.