How to Use a PayPal Balance
By Stacey Price
PayPal allows it members to perform various financial transactions online without sharing their personal financial information. Members can use their PayPal balances to send and receive money; account holders can link their personal savings and checking account to their PayPal account to transfer money between accounts. Members can also use PayPal to make purchases.
Transfer the money to your bank account. Log into your PayPal account. Enter your user-name and password. Select the "Profile" link located under the "My Account" tab. Select the "Bank Accounts" link and click the "Add Bank" button. This will allow you to add your bank account information. Enter your bank account information and click "Continue" to confirm your entered information. Follow the instructions provided to confirm your bank account.
Send money to family and friends. All you need is the recipient's email address or cell phone number. To send money, log into your PayPal account and select the "Send Money" tab. Enter the recipient's email address or phone number and the dollar amount. Select the "Personal" tab and click "Continue." Review payment information and select the "Send Money" button.
Pay for eBay items. Log into your PayPal account and select the "Send Money" tab. Choose "Pay for eBay Items." Enter your eBay user name and password and click "Submit." Any items that you have purchased on eBay awaiting payment will be listed here.
Request a check. You withdraw your remaining PayPal balance in the form of a check. There is a $1.50 fee charged for each check withdrawal. To request a check, log into your PayPal account. Under the "My Accounts" tab select "Withdraw" and "Request a Check." Enter the dollar amount you're requesting. Add your mailing address and select "Continue." Confirm the check request information and select "Send Money."
Make purchases. Many online retailers have PayPal as a payment option when you're making your purchase.
Stacey Price started writing for various websites in December 2009. She has an associate degree in public health administration from South Eastern University. She has spent many years working in a hospital setting in the human resource field. She also writes about travel, parenting and beauty/personal care, drawing from more than seven years experience as a licensed cosmetologist.