October 29, 2011 3:05pm CST
i have new paypal account that i don't know how to use actually.how money from paypal flow to bank account.can everyone tell me bout this,its baffled me much
• Cambridge, England
29 Oct 11
PayPal is just a 'payment processor'. It began as a way to pay for something and to receive payments without revealing your bank details to everyone. In order to use it properly, you have to link your PayPal account with your bank or credit card account. This is called 'verifying' your PayPal account. You will need to give PayPal the details of your bank or credit card so that they can transfer funds between the two accounts. When you do this, PayPal will charge the account you have specified with a small amount and will give a four digit code when they do this which will appear on your statement. When you see this, you log in to PayPal and enter the code to 'verify' your account. In other words, by entering the code, you are saying that you have access to that account and authority to charge amounts to that account and to receive payments into it. The process varies slightly from country to country. You need to look at the Help pages on the PayPal site for your country.
29 Oct 11
It depends on your country of residence. If your central bank hasn't put any restriction on the use of paypal then money will easily flow from paypal account to your bank account and vice versa. you can easily transfer money from bank account and convert those in dollars in paypal account. But all depends on the amount of leverage paypal enjoys in your country.