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Paypal Secret

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Paypal Secret Powered By Docstoc
					 All you need to know about Paypal. From opening an account to
                  withdrawing your Paypal fund.

Disclaimer: You may share and offer this ebook to anyone for free or selling
it. You may also give this ebook as a bonus to your customer when he/she
buys your product. You can share this ebook using any method you like, for
example in forums, rapidshare, bittorrent, etc as long as you don’t modify
any part in this ebook. I hope this ebook can help many people that have
problems with Paypal. If you found any misinformation, please email me at
shahril.samsudin@gmail.com. So Enjoy!!!

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Paypal: What and Why?

What is Paypal?
Paypal is the most famous e-currency and payment processor in the world. People use
Paypal to send and receive online payment via the Internet. It’s the most popular way to
pay eBay auction and is also the cheapest way to accept credit card for your online
business.

Why Paypal?
There are lots of reasons why people use Paypal. Here are some reasons why over 96
million people use Paypal(at least that what Paypal told us).
   1. Paypal is free to receive and send money (For personal account).
   2. You can shop without sharing information.
   3. The cheapest way for seller to accept credit card.
   4. More than 96 MILLION people are using it. There a lot of fish you know!
   5. People can buy your product without opening an account.
   6. Your financial information never shared. Paypal is strict in credit card fraud.
   7. Paypal is the preferred payment method on eBay (eBay has more 150 million
       registered user)
   8. You can send or receive payment via Paypal with email address only.




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Paypal Account Type
There are 3 types of Paypal account.
   1. Personal account – The basic account that Paypal has. This account is suitable
       for people who always buy online or for eBay buyers. You can send or receive
       payment from other Paypal account but you cannot accept credit card or debit
       card if you sell something in eBay.
   2. Premier Account – This account has all features that personal account has plus
       the ability to accept payment via credit card and debit card. This account type is
       perfect for you if you sell products online under your own name and need to
       accept credit card or debit card. There are small fees when you receive payment.
   3. Business Account – This account has all features that Premier Account has plus
       you can have Multi-user access. This account is suitable for people who do have a
       business under a company name. There are small fees when you receive payment.


See picture below to learn more about Paypal account.




The personal account is free when receiving money but there is a small fee for premier
and business account when receiving money. Click here to see fees detail.
By now you should know which account type suitable for you.




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Paypal: Open an Account
  1. Click here to open Paypal account.
  2. Click “Sign Up Today”. See picture below.




  3. After that you will be redirected to a page like below, where you need to choose
     your account type. I have discussed about the various account types in previous
     chapter. So choose what you think is most suitable to you. You can have one
     personal account and one premier or just one business account. Choose the right
     country.

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4. After that click continue and you will be taken to a new page like below. Please
   fill in the form honestly.




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5. Click the sign up button and Paypal will send you to page like below and ask you
   to add credit card or debit card. If you don’t have it, click cancel and you will be
   directed to a page that tells you that you have successfully created a Paypal
   account and Paypal will send a confirmation email to activate your Paypal.




6. Check your email and activate your Paypal account using the link that Paypal has
   sent to you. The email should look like this.




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7. Done!!!! 




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Verify your Paypal Account
When you created your account, your status is unverified. But as I explained in step 5 in
topic “Paypal: Open an Account”, they will ask you to add debit card or credit card when
you register Paypal in order to verify your Paypal account. You can choose to verify your
Paypal account later.

Why get verified?
   1. You can send unlimited fund when you’re verified. Otherwise, there are some
       limitations.
   2. You can withdraw Paypal fund when verified. If not verified, you cannot
       withdraw the money in your account but you can spend it.

Here are steps to verify your Paypal account.
   1. Click on the “unverified” status. See picture below.




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2. Then you will be sent to another page like below. Click “Get Verified!”




3. You will be taken to page like below and you need to add your credit card or debit
   card information. Fill in the form correctly. After you completed it, click “Add
   Card” button.




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4. Walla…settled. Now you must wait for your credit card or debit card statement to
   get your “Expanded Use Number” which will appear in your next credit card or
   debit card statement. Paypal will charge USD 1.95 in your credit card or debit
   card.




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Where to Get Debit Card to Verify Your Paypal Account
Don’t have a credit card? Then read the following steps to get a debit card.

Malaysia
   1. Public Bank Visa Electron Debit Card
           a. Principal Card Membership Annual Fee: RM 24
           b. Requirements – 18 years and above
           c. Has online banking
           d. Cash Mega Bonus – You get 0.5% rebates for every ringgit retail purchase
           e. Monthly statement will be sent to your homes
           f. 100% can be used to verify your Paypal account
           g. You can withdraw money inside your card
           h. You can apply online here
               http://www.pbebank.com/en/features/applyDCard.jsp?website=PBEBAN
               K
           i. For more information please visit
               http://www.pbebank.com.my/en/en_content/personal/cards/content6.html
   2. Alliance Bank Mastercard
           a. You need to become ecosway member to qualify for this card.
           b. Every ringgit you spent, you will get points that can be converted to
               product.
           c. I use this card to verify my Paypal account and make purchase online
           d. Cannot withdraw money in your card.
           e. If you interested, you can go to Cosway branch and ask them how to join
               ecosway. Remember, ask them about ecosway not cosway.
   3. Ambank NexG Mastercard Debit Card
           a. Starter pack is RM 25
           b. Requirements – anyone
           c. Monthly fees - RM3 per month - deducted automatically from top-up
               value



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           d. Overseas Transactions - Foreign Exchange/Conversion Fee based on 1%
                 of the purchase value and a Retail Transaction Fee of RM1 per transaction
           e. You can withdraw money inside your card
           f. Has online banking
           g. I’m not 100% sure you can use it to verify your Paypal account. If you
                 have used this card to verify your Paypal account, let me know by email
                 me at shahril.samsudin@gmail.com
           h. You can get this debit card at 7-eleven stores.
           i. More information here
                 http://www.ambg.com.my/personal/promotions/personal/creditcard/nexg/n
                 exg.asp



Other Countries
If you know how and where to get a debit card in your country, please email me at
shahril.samsudin@gmail.com. I will update this e-book and also put your link in this e-
book. Please help others which cannot apply a credit card to get a debit card. Thanks.



Paypal: Withdraw Your Paypal Fund
There are several ways to withdraw your Paypal fund depending on where you’re from.
There are 4 categories of Paypal users.
   1. Paypal user from the list below can withdraw their Paypal fund directly to their
       local bank.

         Australia           France              Switzerland
         Austria             Germany             United Kingdom

         Belgium             Italy               United States

         Canada              Netherlands         China
         Spain               Denmark             Japan

         Singapore           Finland             Mexico

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         South Korea         Greece               New Zealand

         Sweden              Hong Kong            Norway

         Taiwan              Ireland              Portugal


    2. Paypal users from the list below cannot withdraw their fund directly to their local
       bank. They must request for checks and after that fund it to their local bank. But if
       you have US bank account, you can directly withdraw your Paypal to your US
       bank account.
         Argentina           Brazil               Chile

         Ecuador             India                Jamaica
         Uruguay


    3. Paypal user coming from the list below cannot withdraw their Paypal fund unless
       they have US bank account.

         Dominican Republic            Iceland       Israel
         Malaysia                      Thailand      Turkey

         Venezuela


    4. Below are countries that can only use Paypal to send money and cannot receive
       fund and withdraw the Paypal fund. So if coming from the countries below, I
       don’t recommended you to open Paypal account.
         Cyprus              Czech Republic       Estonia

         Hungary             Latvia               Lithuania
         Luxembourg          Malta                Poland

         Slovakia            Slovenia             South Africa


The method to withdraw Paypal fund as described below is mainly for Paypal users from
countries listed in category 3.


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There are 3 methods I know to cash out your Paypal funds.
   1. Exchange/Sell your Paypal Fund.
   2. Get a debit card
   3. Open a US bank account.
So I will explain one by one.



Exchange or Sell your Paypal Fund
I think it the easiest and fastest method to cash your Paypal fund. But the problem is that
Paypal does not permit you to exchange or sell the Paypal fund. If they find out, they will
freeze your account. So if you choose this method, please sell it to someone you trust and
don’t overdo it or Paypal will notice it. I will not take any responsibility if your Paypal
account has been frozen.

Get a Debit Card
After you buy a debit card you can fund your debit card directly using your Paypal
account. But I think you need to activate your debit card first  (The debit card seller
will tell you how). What you need to do after activating the debit card in order to
withdraw your Paypal fund is log in to your Paypal account → click withdraw → click
“transfer fund to your bank account. The more detail step I will explain later. Please
continue reading. The following is a list of debit card that you can use to withdraw your
Paypal fund.
   1. Accent Card Visa
   2. Virtual Money




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Below is comparison for card fees and price. Please choose the one you think is most
economical.
   1. Accent Card Visa
      This card price is USD 50. Huh…quite expensive right? About other fees like
      activation fees, monthly fees, withdrawal fees and bla...bla...bla...please see table
      below. More info and apply, please visit Accent Card Visa.




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   2. Virtual Money – Thanks to http://www.hongkiat.com/ for this info
       According to HongKiat, this card sold for USD 25.00. Cheaper than Accent Visa
       right? Also for another fees like bla…bla…bla… see table below. And I suggest
       you to read HongKiat post for more detailed about this card.




Open a US Bank Account
At the time when I’m writing this e-book, there are only two US bank I know where you
can apply for a US Bank Account.

E*Trade Financial
I have been using E*trade brokerage account to withdraw my Paypal account for more
than 6 months and there are no problems. The benefit of E*Trade brokerage account is:
    Fast, easy and free to open.
    FREE VISA Platinum ATM Debit Card.
    You can get a VISA debit card without deposit USD 1000.
    You can write checks.
    Work with Paypal, stormpay, moneybooker, 2Checkout, etc.
    Simple process. Need photocopy of your passport or government-issued
       identification card.


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    Has online banking system.
E*trade account is free to apply. ATM withdrawal is also free. E*trade and the ATM will
not charge you when withdrawing funds. If the ATM charges you, E*trade will provide a
refund to your account. There is Account Service Fee (ASF) that will be charged
quarterly, USD 40 per quarter. That means you will be charged USD 40x4=USD 160 per
                                                           nd
year. But for the first year, you will not be charged. 2        year and onward you will be
charged. Unless you meet one of E*trade condition, you will not be charged. For more
information, please visit https://us.etrade.com/e/t/estation/pricing?id=1206010000#AAF
Where to apply and how to apply? I have put the form and the guide how to fill in the
form in the folder name etrade. Check it out.

HSBC
The second bank I know that allows non citizen to open US Bank Account. Yeah, the
most famous bank right. For HSBC you need to email them and ask them how you can
open    an    account    with     them.    Here’s    the        link   to   contact   HSBC
https://www.banking.us.hsbc.com/HICServlet?cmd_GeneralContactUsCaller=&accept-
language=en-us . After that they will email you with some questions. Answer the
questions honestly. If they are satisfied with your answers, they will send the kit to you.
After you get the kit, fill in the form and go to HSBC branch in your country, like me in
Malaysia, I must go to a HSBC branch in Malaysia for verification purposes. After that,
mail the form back with document they need to HSBC US. Walla…done. You can get
HSBC debit card and you can use HSBC debit card to withdraw your money in almost
any ATM in the world. Cool right.



How to transfer Paypal fund to your preferred method
In this topic I assume you have already activated the debit card you purchased or have
already open US bank account. I will show you how to link your Paypal account to debit
card or US bank account.




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1. Log in to your Paypal account and after that click “withdraw”.




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2. Click “Transfer fund to your account” and you will be taken to a page that looks
   like below.




3. Fill that form using the information likes below.
       a. Accent Card Visa
                 i. Bank Name: Contact support@accentcardvisa.com
                 ii. Account Type: Contact support@accentcardvisa.com
              iii. Routing Number: Contact support@accentcardvisa.com
              iv. Account Number: Contact support@accentcardvisa.com
                 v. Re-enter Account Number: Contact support@accentcardvisa.com
       b. Virtual Money
                 i. Bank Name: Southwest Bank
                 ii. Account Type: Ask Virtual Money
              iii. Routing Number: Ask Virtual Money



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                iv. Account Number: 8 followed by your last 9 digits of your card number
                 v. Re-enter Account Number: 8 followed by your las9 digits of your card number


         c. E*trade financial
                 i. Bank Name: The Bank of New York
                ii. Account Type: Checking
                iii. Routing Number: 021000018
                iv. Account Number: 104000000 followed by your 8-digit brokerage
                    account number.
                 v. Re-enter Account Number: 104000000 followed by your 8-digit
                    brokerage account number.


Some Tips
  1. If you are seller, please keep your proof of postage so if your customer complains
     to Paypal because they did not receive the product, you can show the proof to
     Paypal and your account will no be frozen.
  2. Paypal will charge your account if there are report of credit card fraud. So beware
     when receive credit card payment. Please avoid shipping the product to customer
     if the shipping address is not same with Paypal verified address.
  3. Don’t keep your money in Paypal for a long period.
  4. You cannot use personal account to make business transaction like raccept
     payment from your customer. Paypal will freeze your account if they find out.
  5. You can still log in to your Paypal account if you no longer have access to your
     email. Just log in using your old email and then change the email address in your
     profile.
  6. If you buy/sell your item in eBay, please check your buyer/seller reputation.
     Avoid doing business with them if there are many negative feedbacks.

Frequently Ask Question (FAQ)
  1. To withdraw Paypal fund, can I just use debit card that I have in my country
     like me in Malaysia I have Public Bank Debit card?
     No, in order to withdraw Paypal fund for most international country you need
     debit card that is integrated with US bank account. We need ABA routing
     number, US bank Name and account number in order to withdraw Paypal fund.
  2. Can I use Paypal and Etrade if I am not in their list of supported countries?
     No, you cannot.

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3. I don’t have passport to apply US bank account. Can I use other government
   issue ID like MyKad for Malaysian?
   Yes, you can.
4. I have added credit/debit card in order to verify my Paypal. After that
   Paypal ask to key in Expanded Use Number to verify my Paypal. Where do I
   find my Expanded Use Number?
   It usually takes three to four business days for an Expanded Use Number to
   appear on your credit card statement, depending on the card issuer and online
   availability of your statement. If you do not have online access to your statement,
   you can find your unique four-digit Paypal Expanded Use Number on your paper
   statement. If you added a debit card, your four-digit Expanded Use Number is
   printed on your bank account statement next to the charge.
5. E*Trade states that you must fund USD 1000 to be eligible free visa platinum
   debit card. Honestly I don’t have that much of money. Is there any way?
   I cannot confirm this info yet. But when I get the e*trade account, I just fund it
   using Paypal USD 5.00 and then I email them ask to send me a check and debit
   card. One moth later I get the debit card and check book. That all.
6. I have withdrawn Paypal fund to my US bank account. How long does it take
   to appear in my bank account?
   Usually it takes 5-7 day if that your first time withdrawing Paypal to your bank
   account. After your bank account been verified it will take 2-3 day.
7. Are there any fees to withdraw money in ATM for debit card?
   It depends what debit card you use. Please read again “Withdraw Paypal” topic
   for more detail about the fees.




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