Whether you are an online shopper or just a regular business person that receives money via mobile transactions or the internet, you should definitely know how to receive money on PayPal.
Since founded in the year 1998, the online payment network, PayPal has grown to become one of the online payment companies in the world that today, it seems complete to carry out a business transaction without involving PayPal.
And this is why, as a business owner, it is important to know how to receive money on PayPal due to the fact that it is very likely that you will be having customers that will be send you money via the popular online payment network.
That is why, in this article, I will be sharing with you everything that you need to know regarding how to receive money on PayPal. And along with that, I will be also answering a lot of questions that you might have about this process. So, without further wasting of time, let us proceed;
What Happens When Someone Sends Me Money On PayPal?
Usually, what happens when someone send you money on PayPal is that the money leaves their account, which is shown in a reduction of their balance. And get sent to your PayPal account, with PayPal recording the transaction as an “Added Money”.
And along with that, you will get an email from PayPal notifying you of the transaction. And the money that was sent will be automatically credited to your available PayPal balance.
Requirements To Receive Money On PayPal?
To receive money on PayPal, there are several requirements that you might need. These play a crucial role in ensuring that the transaction is successful and that you have been able to receive the money. Below are a few items that you might need to receive money on PayPal –
- A valid PayPal account
- Your PayPal email which will be used for the transaction.
How To Receive Money On PayPal From A Friend
To get the money that a friend or someone send to you on PayPal, you can simply go through their email address which you used in registering the Paypal account and then confirm if PayPal had sent an email to you so as to notify you that someone sent money into your PayPal account.
However, you can also confirm this by checking on your PayPal account dashboard to ensure or confirm that they was indeed a top up.
How To Receive Money On PayPal Business Account
You can also receive money straight into PayPal via a Paypal business account. A Paypal business account is usually made to send or receive money using a business account.
A PayPal business account is usually made for companies, organizations and businesses who usually use or make transactions.
However, below are steps on how to receive money on PayPal business account;
- Set up a Paypal business account.
- Confirm your PayPal email address, linked bank account and business information.
- Select how you will want to get paid by PayPal
How To Receive Money From PayPal To Bank Account
Right after getting a notification that your PayPal account has been topped up, you can choose to transfer money from your PayPal account to your bank account.
Below are steps on how to receive money from PayPal to your bank account;
- Open the PayPal mobile app or visit the PayPal official website at www.PayPal.com
- Log in to your PayPal account
- Check your PayPal dashboard. If money has been sent, it will reflect on your PayPal dashboard balance.
- At the bottom of the screen, tap “Transfer,” and then click on “Transfer Money.”
- Select the bank account that you want to transfer money to and then click on the option “Next.”
- Choose the bank account that you will be making the PayPal transfer to or simply enter it if it is not shown on the list
- Enter the amount of money you want to transfer from you PayPal to you bank account and then click “Next.”
- Confirm the transaction.
How Long Does It Take To Receive Money On PayPal
Usually, it does not take long to receive money sent to you on PayPal. As a matter of fact, the transfer is very instantaneous. However, in some cases, the transfer from the sender’s account into your PayPal might last for about two minutes.
Anything longer than this, you can contact the PayPal customer service for more clarifications.
Is There A Fee To Receive Money Through PayPal?
Yes, there is a fee attached to receiving money through PayPal. It usually has a fee of about 2.9% + $0.30 for most payment received.
However, there are several conditions that limit this. Read on to find out as you have revealed ways on how I avoid PayPal fees while receiving money.
How To Receive Money On PayPal Without Fees?
As I had earlier said, there are a few ways that one can avoid paying PayPal fees while receiving cash.
Below are few ways on how to avoid PayPal fees while receiving cash ;
- Ask that Payment be made less often
- Make use of an accounting software to lower your PayPal fees
- Usually opt for same currency transactions.
- Due to lesser PayPal fees for friends and family, ask the sender to make it a Family or friend transaction.
- Make use of other PayPal alternatives to receive your payment. Cash App, Venmo to list a few are some PayPal alternatives that you could go for.
Is PayPal Safe To Receive Money?
Yes, PayPal is very safe to receive money. The online payment company does not just make it safe for the sender to send money but also the receiver to receive money without getting scammed.
How To Receive Money On PayPal Business Account
For those asking, can I receive money with Paypal business account” the answer is yes, your company can receive money using the PayPal business account.
And as I earlier said, they are usually used by organizations, government bodies, and businesses as a payment option. To receive money through a Paypal business account, you will need to have your PayPal business account set up.
When Someone Sends You Money On PayPal Does It Go To Your Bank Account?
No, if someone sends you money on PayPal, it does not just go to the bank automatically. However, you can choose to send the money that you have received in your PayPal straight into the bank. Check above as I had revealed how to receive money from PayPal into a bank account
Do I Need To Link A Bank Account To PayPal To Receive Money?
No, you do not need to link a bank account so as to receive money on PayPal. Rather, your bank account is only required when you are making a payment into a bank account or transferring the money from the PayPal account straight into the bank account.
Steps on how this can be done are written above. You can check them out once again.
How Long Does It Take For The Money To Be In My Bank Account From PayPal?
Usually, the time it takes for money to show up in your bank account after it has been sent from a PayPal account usually varies. And in most cases, it could take between a few seconds to about 24 hours for the money to show up in your bank account and then you get an alert from your bank. Anything longer than this, you will have to contact your bank customer service.
How Long Does It Take To Receive Money On PayPal From Friend?
Usually, it takes just a few seconds to a few minutes to receive money on PayPal from a friend.
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Do PayPal Payments Show Up Immediately?
Yes, after payment has been made, the money you receive will show up immediately on your account dashboard.
Someone Sent Me Money On PayPal But I Don’t See It What Should I Do?
Unfortunately, there is nothing much that you could do as it is likely a scam. However, you could contact the person to confirm that indeed payment was made. Have them contact their PayPal customer service and you on the receivers end should also contact your PayPal customer service for clarification.
How To Receive Money On PayPal From Games
Recently, we shared a post that provides an answer to how to earn money by playing games on PayPal, well, the truth is that’ there are over hundreds of games that can send you real via PayPal.
All you have to do, is the open a PayPal account” if you don’t have. Then’ select it as a payment method.
How To Receive Money On PayPal Without Bank Account
You must not have a bank account, before you can be able to receive money on PayPal. Hence, bank account is not necessary. This is what to do, after receiving the money from your PayPal account” transfer or sell it off to another PayPal user.
You can also use the money for online shopping, or transfer to a friend who has bank account.
With no doubt, I believe you must have learnt how to How to receive money with PayPal, even without bank account. Please don’t leave this page without checking related articles. If you have questions/feedback, kindly go ahead and use the comment box below.