Unsure about using PayPal? Here are the PROS and CONS of this leading online payment service
- 7 years ago
This video covers the advantages and disadvantages of using PayPal’s online payment and money transfer service.
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▶️ ON OUR WEBSITE & "MONEY MATTERS" BLOG
- The pros and cons of PayPal: http://www.solution-loans.co.uk/blog/pros-cons-using-paypal/
- The future of personal banking & money management is here: http://www.solution-loans.co.uk/blog/future-banking-money-management-personal-finance/
- How to run your life without a credit card: http://www.solution-loans.co.uk/blog/run-life-without-credit-card/
- How to cope without a bank account: http://www.solution-loans.co.uk/blog/how-do-people-cope-with-no-bank-account/
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▶️ VIDEO TRANSCRIPT
PayPal is now the world's largest third party payment provider.
It dominates online processing on sites that go far beyond its eBay origins. But there are both advantages and disadvantages of using PayPal. ADVANTAGES of PayPal. 1. PayPal is safe. PayPal encrypts all of its customers’ data to the highest possible standard. And stores that data on servers which are not directly connected to the rest of the web. 2. Sending money to friends and family is free. PayPal does not charge to send money as a gift, particularly to a friend or a member of your family. 3. An easy-to-use app. The PayPal iPhone and Android apps make it simple to buy online and transfer money worldwide at the touch of a button. 4. Discounts. PayPal offers special discounts for loyal customers who use the service to buy from particular retailers. DISADVANTAGES of PayPal. 1. You DON'T have Section 75 consumer protection. Section 75 of the Consumer Credit Act protects you when you use a credit card to buy something worth £100 to £30,000. 2. PayPal charges you to receive money. Receiving payments via PayPal – particularly on eBay – will cost you 5% to 10% of the total price. 3. PayPal sometimes freezes a user’s account. Some PayPal users report that their accounts have been frozen without warning. PayPal's security algorithms can be a bit overzealous! 4. PayPal may hold on to your money if you sell something on eBay. The payment provider sometimes holds payments for up to 21 days to guard against the possibility of a problem with a transaction. CONCLUSION. Continued growth suggests PayPal's advantages outweigh its disadvantages.
------
▶️ ON OUR WEBSITE & "MONEY MATTERS" BLOG
- The pros and cons of PayPal: http://www.solution-loans.co.uk/blog/pros-cons-using-paypal/
- The future of personal banking & money management is here: http://www.solution-loans.co.uk/blog/future-banking-money-management-personal-finance/
- How to run your life without a credit card: http://www.solution-loans.co.uk/blog/run-life-without-credit-card/
- How to cope without a bank account: http://www.solution-loans.co.uk/blog/how-do-people-cope-with-no-bank-account/
------
▶️ SOCIAL
Like us on Facebook: https://www.facebook.com/SolutionLoansUK/
Follow us on Twitter: https://twitter.com/solutionloansuk
Follow us on Instagram: https://www.instagram.com/solutionloans/
Google+: https://plus.google.com/+SolutionloansCoUk1
Website: https://www.solution-loans.co.uk/
Subscribe to our YouTube channel: http://bit.ly/solutionloansYT
------
▶️ VIDEO TRANSCRIPT
PayPal is now the world's largest third party payment provider.
It dominates online processing on sites that go far beyond its eBay origins. But there are both advantages and disadvantages of using PayPal. ADVANTAGES of PayPal. 1. PayPal is safe. PayPal encrypts all of its customers’ data to the highest possible standard. And stores that data on servers which are not directly connected to the rest of the web. 2. Sending money to friends and family is free. PayPal does not charge to send money as a gift, particularly to a friend or a member of your family. 3. An easy-to-use app. The PayPal iPhone and Android apps make it simple to buy online and transfer money worldwide at the touch of a button. 4. Discounts. PayPal offers special discounts for loyal customers who use the service to buy from particular retailers. DISADVANTAGES of PayPal. 1. You DON'T have Section 75 consumer protection. Section 75 of the Consumer Credit Act protects you when you use a credit card to buy something worth £100 to £30,000. 2. PayPal charges you to receive money. Receiving payments via PayPal – particularly on eBay – will cost you 5% to 10% of the total price. 3. PayPal sometimes freezes a user’s account. Some PayPal users report that their accounts have been frozen without warning. PayPal's security algorithms can be a bit overzealous! 4. PayPal may hold on to your money if you sell something on eBay. The payment provider sometimes holds payments for up to 21 days to guard against the possibility of a problem with a transaction. CONCLUSION. Continued growth suggests PayPal's advantages outweigh its disadvantages.