When it comes to online payments, pay with PayPal is one of the most popular ways. This platform is widely supported by countless e-commerce shops, making it convenient whenever you want to buy goods anywhere in the world or locally. However, shopping is not the only option available. Some entrepreneurs, companies, and business travelers use PayPal to send international payments to their employees.
Anyway, let’s see how it works so you can have more options to think about whenever you need to manage international payments. Keep on reading to find out more!
What is Paypal and how does it work?
Before learning how to pay with PayPal, let’s dive into the concept of this platform and show how it works. Knowing the basics is decisive and can enhance your daily routines, mainly when it’s about money. PayPal is a digital system to shop, buy, send and receive payments and manage your money. Whether you’re making online purchases or donations, hiring a service, or assigning a salary to an employee overseas, you can use it as a middleman.
So, in a few words, PayPal works as a mediator between you and the destination you’re willing to achieve. It can be e-commerce, freelancers, friends, family, or employees anywhere in the world. Users can link their bank account, credit card, or debit card to their account. Besides, each service comes with a different fee — which can arrive at 5% for international transactions, plus currency conversion.
How to pay with Paypal using an account?
There are two ways to pay with PayPal — with or without an account. Both options are relatively straightforward. If you don’t have one, you can create a personal or a business account.
When it’s settled (after filling in some information), go to the tab “send and request” to start your transactions. You can manage payments, send and receive donations, and create, customize and send invoices.
All you need to set up payment is the name, PayPal user, email address, or telephone number of the person that will receive the money. If the recipient already has an account, the transfer happens right away. Otherwise, ask the beneficiary to provide one. Next, check out a summed-up step-by-step:
- Create an account by choosing between personal or business;
- Look for the “send and request” tab on the top of the dashboard to get started;
- Enter the details about who you wish to pay (name, user, email or telephone) or an existing contact from your list (if it’s a recurrent transaction);
- Confirm the amount of money you want to send and also the currency;
- Choose the funding source to complete the payment — PayPal balance or a linked bank account, credit card or debit card — and don’t forget to check the fees;
- Review all the data and then confirm the payment. After this, you will receive an email with the details about it.
How to pay with Paypal without an account?
Now that you know how to manage payments with an account, you will learn how to do the same thing without one. After all, it’s not limited to registered users. In this case, things work a bit differently.
To proceed, you need an invoice or a money request from the recipient to pay as a guest. So the bottom line is outside PayPal. This process starts from your email, where you will have a detailed invoice or request with a “pay now” button embedded in it. Check out how it works:
- Access your email, open the invoice you’ve received and click on “pay now”;
- From here, you can follow the steps above to create an account or, if you don’t want it, select the credit card or debit card option and enter the details;
- Before confirming the payment method, check out the fees that apply (card expenses tend to be costly);
- Review everything to ensure the data is in order and endorse the payment. Similar to the other way, you will receive a notification via email with the details about the transaction to keep a record.
Rely on Husky to send money and save time
Managing international remittances can be expensive due to currency fluctuation, conversation rates, and fees. Besides having multiple bank accounts overseas, there are alternative options such as PayPal. However, a digital currency exchange platform might offer the best cost-benefit when assessing all the costs behind each transaction.
At Husky, the cost is 2% of the amount, plus the IOF (0.38% or 1.1%). This percentual can be reduced to 1% or even zero when another user applies a coupon you shared. Plus, you pay the same fee no matter the service — sending money to friends, family, freelancers, suppliers, or overseas employees.
Instead of multiple accounts, you have a unique multi-currency account to manage from anywhere in the world. So there is no currency conversion to worry about because Husky can take care of this. All international transfers are free of bureaucracy and hidden fees, not to mention how quickly the money can reach its destination (within one business day).
Pay with PayPal is an alternative for some kinds of payments, but before choosing your platform for international transactions, it’s worth evaluating all the fees involved. Whether you send money to a friend or an employee, the cost may vary, and it can become expensive. That said, a multi-currency will save you money and time whenever you need to prepare a payment using more than one type of cash.
Entrepreneurs, business travelers, and companies are already using Husky to manage and pay their employees in Brazil at lower fees. Consider opening your multi-currency account and start saving!