PayPal has revolutionized the way that people shop online, making it easier than ever to purchase goods and services from around the world. While PayPal is convenient, many people do not realize that using the service can actually save them money. Find out how PayPal can help you to keep more money in your wallet.
1. Save on postage
If you are tired of making countless trips to the post office only to shell out more money to account for the rising cost of stamps, PayPal may be right for you. Since you’ll be sending money electronically, you won’t need to worry about mailing checks and paying for postage.
2. Avoid check fees
One of the best ways that PayPal can help you to save money is through the PayPal Master Debit Card. By no longer using checks, you no longer run the risk of bouncing anything or paying returned check fees. Simply transfer what you want from your bank account onto your PayPal card, and then use the card to make your purchases.
3. Enjoy shopping perks
The PayPal debit card can save you money when shopping online. You will enjoy 5% back on your monthly purchases, and your reimbursement will come at the end of the month. If you make a lot of online purchases, using your PayPal debit card can allow you to actually get paid for doing your normal shopping.
4. No interest
PayPal does not charge interest, and the PayPal debit card is accepted anywhere that MasterCard credit cards are also accepted. Using your PayPal card will allow you to save on the interest fees that you might accrue using a standard credit card.
5. No fees
There are no fees associated with your PayPal card. Whether you are making a payment or taking money out of your account, you will never be assessed any fees. However, if taking money out, you will want to make a stop at a pre-approved PayPal ATM, which can be found listed on the PayPal website.
6. Simple bank transfers
With PayPal, you can transfer money into your bank account within wasting the gas it takes to drive to the bank. You can also transfer money to someone else’s account. It usually takes about two business days for the transaction to clear, but the process is 100% free.
7. Easier online shopping
Are you hesitant about shopping online because you’re worried that your debit or credit card information may be jeopardized? PayPal may be your answer. PayPal takes extra steps to ensure that your funds are properly protected when shopping online by offering PayPal Buyer Protection. PayPal will protect you if you send payment for an item but never receive it as long as you file a dispute within 45 days.
8. Free direct deposit
Does your bank or employer charge you a monthly fee to have your paycheck direct deposited? PayPal eliminates this fee, and you can have your company send your paycheck to your PayPal account automatically.
9. Mass payment option
If you are an employer, using PayPal’s Mass Payment option to send bulk batch payments can save you massive amounts of money. Mass payments are assessed a significantly smaller fee for employers, and this can save you a ton of money if you need to pay international freelancers.
10. Credit card security
When you first create your PayPal account, you will be asked to provide your bank account and credit card information, which is kept in PayPal’s secure system. After this, you will never be asked for this information again. You can then shop without worrying about your information being hacked in online merchant databases.
If you are not using PayPal, you are likely spending your hard-earned money on unnecessary charges and fees. Start taking advantage of the cost-saving opportunities presented by PayPal today.
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