If you’re looking for a way to save money that doesn’t involve searching for coupons or haggling with service providers, PayPal offers some great options!
PayPal has been in the mobile payments business for well over a decade. It's is an online financial service that allows you to pay for items using a secure internet account.
You simply add your bank account, credit card, or debit card details and whenever you pay using PayPal, you can choose which of your cards or accounts it pays with. You can also set one to be the default payment method and that will be used unless you choose otherwise.
PayPal offers you excellent ways to save money in your transactions. Here are some of them:
Use PayPal as a separate bank account
One way PayPal can save money is if you use it as a separate bank account. Although PayPal isn’t technically a bank, you can use the money in your account to pay for items online. You can also get a PayPal debit card to use anywhere you would normally use a credit or debit card.
No check fees
Can PayPal save money in other ways? Yes, by taking away any fees associated with traditional checks. Instead of spending money buying checks or paying overdraft fees or returned check fees, you can just use your PayPal account to pay for everything. This can save you money in the long run! Simply deposit money from an existing account to your PayPal account and use that money to pay your bills.
PayPal’s debit card is a MasterCard, but it doesn’t charge you interest like a standard credit card would. You can use your PayPal debit card anywhere MasterCard is accepted without worrying about spending money you don’t have or paying interest on your purchases.
Please note that PayPal also offers a credit card that does charge interest, so if you’re trying to save money, it’s best to use their debit card to avoid interest payments.
Direct deposit for free
If your bank or employer charges you a fee to have funds directly deposited, you can save yourself from these fees by having your company send your check directly to your PayPal account. From there, you can deposit your funds directly into your bank account, fee-free. This will save you money every time you’re paid!
Safe online shopping
One issue many people have with online shopping is that they’re scared their debit or credit card information will be stolen. When you shop online using your PayPal account, you’re protected by PayPal Purchase Protection.
This allows you to file a dispute for any payments you’ve made within the past 45 days if you never receive an item. You’ll have peace of mind knowing your funds are completely safe when you shop online.