PayPal: Not so Free five dollars for signing up anymore
Written: Jan 08 '01
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Product Rating:
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Pros: Fast and Easy way to send and receive money
Cons: New requirements to receive free 5 dollars for signing up and referrals
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| poneyby's Full Review: PayPal |
I have been using PayPal for over a year now. I signed up at first just to receive the five dollars they offer for signing up. I didn't realize how often I would be using PayPal after that. I use it the most for collecting and sending payment for auctions online.
PayPal is free to sign up for and free to use. You sign up and fill out the registration form and then they send a confirmation e-mail and you click on a link from that e-mail to confirm your address. After that you only need to enter your e-mail and a password you create to sign in.
You receive five dollars free after you confirm your bank account information and (NEW since I joined)transfer $100 into your PayPal account. Then you need to sign up for their Money Market Return Fund. You earn interest on the money you have in your PayPal account. When I signed up you received the five dollars just for signing up and confirming your bank account ,but now they have changed the requirements.
If you have a Premier or Business Account(If you have a Personal account everything is free. With premier and business accounts they charge you a fee for payments received) you can receive five dollars for each person your refer. You can send your family and freinds an e-mail with a link they provide with your referral. They need to complete the same steps when signing up before you receive your money. You can also add a banner to your website or onto your auction sites. If someone clicks on your banner and signs up you will receive five dollars. You can also receive the money if you send a payment to someone who doesn't have an account and they sign up. If you request money from someone who doesn't already have an account and they sign up you will earn the five dollars too.
Requesting money and paying through PayPal is pretty simple. You click on Request Money and then fill in the e-mail address and the payment amounts and a note if you want. If your request is for an action site you check a box and are taken to another page for addition information to fill in for that auction. Then you just click the request button and they send out the e-mails. After the recipient sends your payment(using their PayPal account balance credit card or checking account) you can either have PayPal send you a check or have the money placed into your bank account. There is no charge to receive payments if your using a personal account. If you have a premier or business account they do charge a fee.
To send money just click on Send Money and enter the e-mail address of the recipient and the amount of the payment. You can use your PayPal balance for payment or also you can use your credit card or checking account. They have a limit of $1000 you can send every six months. New user limits are $250 until you confirm your bank account. There is no charge to send money.
PayPal only gets four stars from me since they have made the changes to receive your free five dollars to sign up, and the changes to their referral program.
Recommended:
Yes
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Epinions.com ID:
poneyby
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 - Top 1000 |
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Location: WI
Reviews written: 184
Trusted by: 726 members
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