PayPal account transactions can be somewhat cheap compared to other types of transactions. This is because there’s no charge to withdraw money from your PayPal balance to your local bank account depending on the bank you operate in. You can only have access to this service if you’re a PayPal user. But it should be available to U.S citizens with eligible MasterCard or Visa debit cards in the coming months.
Although, PayPal can be a hard-nut and very embarrassing if you want to put money into your bank account. This is because this can take a very long time for transfers to process. Due to the new procedure, you have to accept a 25% transaction fee if you’re using a debit or prepaid card and the money will quickly forward to your bank account within a short period. We are going to show you how you can be able to swift your PayPal account transactions.
How to Process your PayPal Account Transactions
There are two ways to transact with your PayPal account:
Use of Bank Account
- First step: Log in to your PayPal account.
- Second step: Scroll down below your PayPal balance and click “Transfer to your bank.”
- Third step: Select where you’re deducting the money from, and the recipient you’re transferring it to.
- Fourth step: Choose the amount which you want to transact, and then click “Continue.”
- Fifth step: Review and click “Transfer.”
Use of Visa/MasterCard or Prepaid card
- First step: log in to your PayPal account.
- Second step: Click “Transfer to your bank” below your PayPal balance.
(You will be able to see the cards that are eligible for withdrawals when you scroll down)
- Third step: You’ll then have to choose the destination you’re transferring the money from, and where you’re transferring it to.
- Fourth step: Select the amount you want to transact, and then click “Continue.”
Note: There is a list of debit cards and banks that may support PayPal transactions. Using the word “may” means that some these banks and cards might currently start having an issue with PayPal transactions but they sure will do. It will be arranged alphabetically below:
- AXIS Bank (Chip Card)
- CITI Bank
- HDFC Bank (Platinum Chip Debit Card)
- ICICI Bank
- Indian Bank (EMV MasterCard World)
- Kotak Mahindra Bank (Gold Chip Debit Card)
- Standard Chartered Bank
Just like we explained about the PayPal above, there are many features and things that can be done with the PayPal such as purchasing something online. So use the below and see how you can be able to purchase something online as Payment option PayPal:
- The first thing to do is to click on PayPal button.
- After you’ve clicked there, you will be re-directed to the PayPal site.
- Then log into your PayPal account with your username and password.
- Once you’ve logged in, you then have to verify all the details which will be provided to you once you’re done with the transaction.
Note: The details that need to be verified are; your name, your card number, and an amount which will be deducted from you on any transaction made.
Read more: How to Access Online Banking System
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