PayPal

Pros

PayPal is one of the commerce platforms I have used for the longest time. I've used it both for businesses and personal use, and it's never let me down. It's super easy to send money to individuals both on their website and mobile app, and I love that you can write specific notes within each payment. It links seamlessly to your bank accounts, and I always receive payouts quickly. When requesting payments, I love the "reminder" feature where you can politely nudge someone for a payment. It's also easy to pull historical statements for accounting purposes.

Cons

It's annoying that there are transaction fees when you have a business account, though this is not something you can avoid with any e-commerce platform. They all charge fees, but PayPal is actually reasonably priced and competitive compared to other platforms like Stripe or Square, so it's not a huge negative aspect of the platform. My personal PayPal has also been hacked before through eBay back in 2015. There was an unknown foreign charge on there, which was a little concerning since PayPal is linked to my bank accounts. Luckily PayPal customer service was able to refund me the amount and help me set up two-step authentication for security purposes. I have not gotten hacked since!

Alternatives Considered

Reasons for Switching to PayPal

Pros

PayPal is one of those things ya almost gotta have. All these new digital credit cards coming out that mask your numbers is old newus as far as PayPal is concerned. They pioneered not only digital currency but gave us a format on how-to buy things online. These new marketplaces (letgos, offerups, Facebook marketplace) really owe PayPal a debt of gratitude of for making us comfortable to purchase online. In addition to the privacy PayPal offers they also make it easy for you to send and receive money especially to your friends and they don't charge you anything. You can get a free cash card which is cool and you can also use card to accept payment for your small business.

Cons

PayPal does require a lot of background if you were to open up an account and get a cash card. They do close people down for practically nothing and they will freeze assets for an undetermined amount of time if anything is questioned. Also there so in bed with eBay that if eBay doesn't like something about you or your account they can freeze assets as well. They have a pretty weak offers category where you can get some discounts but they're not all that great and neither is there discount on shipping. And why don't they have their own check cashing division being so big, why use Ingo?

Pros

How I can transfer from Paypal to my bank account

Cons

Creating the PayPal account is not easy very difficult

Pros

PayPal makes it very easy to accept payments as a freelancer and pay for goods and services when shopping online. PayPal is also well known worldwide and has credibility as a payment processing option, both to charge clients, and to pay freelancers for their services. It is probably the easiest way to pay people in other countries, and the funds transfer instantly.

Cons

The fees and exchange rate for different currencies with PayPal are higher than any other payment processing option. Also, PayPal almost always seems to side with the buyer in case of a dispute, leaving you vulnerable to chargebacks from dishonest clients.

Pros

The application has suitable user interface for both mobile and web applications which makes navigation more easier. Also less charges are offered for transactions.

Cons

Some countries do not support this app, This might be an issue. Rest all is good.