Exchange PayPal To Payza
What Is PayPal Anyway?
Depending on whom you talk to, it's either the greatest thing on earth or the dumbest way to transfer money (nicknamed "beaming"). The basic concept is this; PayPal offers a secure service through which funds can be transferred from one PayPal account to another.
(Technically no funds are actually transferred. PayPal is just a running total of how much one account was given from another and vice versa. It isn't until someone "cashes out" that money is actually "moved".)
The transfer is immediate and guaranteed. PayPal won't transfer funds unless the buyer has a credit line (or amount in bank account) to make the transfer. No, PayPal is not a bank. Thus, their accounts are not federally insured in the same way as a traditional bank account, however they do offer their own private insurance. As of the time of this writing, the insurance was provided through the Travelers Group.
The fact that the money is transferred from one PayPal account to another, rather than right to the user, is important. We'll get to why in a moment.
In order to participate in PayPal, you must sign up to be a member. Right now (April, 2001) it's free. In fact, it remains a free service as long as you remain only a buyer, meaning money only moves from your account to someone else's account or you request from your own monetary sources.
In order to sign up, you are asked all the basic questions, plus you choose the traditional login and password. Your email is proven active by the computer sending you your confirmation number. You get the number, return to the site, and finish the process.
After signing up, you are asked to enter either a credit card number or bank account. Either way you go, or even if you choose to allow both, the computer system performs a check. If the accounts are active and have sufficient funds, you're good to go.
You'll be one of over 7 million beaming money from account to account.
Fees
There are no fees when sending money. Fees are applied when money is received or payments processed, and will vary based on the account type.
Paybefore Awards, Outstanding Newcomer in Prepaid/Emerging Payments (2013).
Executive Vice-President Firoz Patel was nominated for the Ernst & Young Entrepreneur of the Year Award in 2010 and 2011 for AlertPay. In 2012, he was nominated and advanced to the Finals because of the instrumental role he played in the successful acquisition of AlertPay assets by MH Pillars, which subsequently launched Payza.com.
Depending on whom you talk to, it's either the greatest thing on earth or the dumbest way to transfer money (nicknamed "beaming"). The basic concept is this; PayPal offers a secure service through which funds can be transferred from one PayPal account to another.
(Technically no funds are actually transferred. PayPal is just a running total of how much one account was given from another and vice versa. It isn't until someone "cashes out" that money is actually "moved".)
The transfer is immediate and guaranteed. PayPal won't transfer funds unless the buyer has a credit line (or amount in bank account) to make the transfer. No, PayPal is not a bank. Thus, their accounts are not federally insured in the same way as a traditional bank account, however they do offer their own private insurance. As of the time of this writing, the insurance was provided through the Travelers Group.
The fact that the money is transferred from one PayPal account to another, rather than right to the user, is important. We'll get to why in a moment.
In order to participate in PayPal, you must sign up to be a member. Right now (April, 2001) it's free. In fact, it remains a free service as long as you remain only a buyer, meaning money only moves from your account to someone else's account or you request from your own monetary sources.
In order to sign up, you are asked all the basic questions, plus you choose the traditional login and password. Your email is proven active by the computer sending you your confirmation number. You get the number, return to the site, and finish the process.
After signing up, you are asked to enter either a credit card number or bank account. Either way you go, or even if you choose to allow both, the computer system performs a check. If the accounts are active and have sufficient funds, you're good to go.
You'll be one of over 7 million beaming money from account to account.
Fees
There are no fees when sending money. Fees are applied when money is received or payments processed, and will vary based on the account type.
Paybefore Awards, Outstanding Newcomer in Prepaid/Emerging Payments (2013).
Executive Vice-President Firoz Patel was nominated for the Ernst & Young Entrepreneur of the Year Award in 2010 and 2011 for AlertPay. In 2012, he was nominated and advanced to the Finals because of the instrumental role he played in the successful acquisition of AlertPay assets by MH Pillars, which subsequently launched Payza.com.
