How good is PayPal
PayPal is widely regarded as a secure, fast and broadly accepted online payment platform, although users often criticise its fees, exchange rates and account holds.
- Privacy and security: You can pay online without giving your card or bank account numbers directly to the seller.
- Purchase protection: Eligible purchases and sales are covered by PayPal Purchase Protection, which helps settle disputes between buyers and sellers.
- Easy setup: Signing up costs nothing, linking a card or bank account is simple, and PayPal is built into many major online checkouts.
- Global reach: Millions of online merchants in more than 200 countries accept PayPal payments.
How well PayPal suits you depends on what you use it for, such as shopping online, freelancing or receiving payments from abroad. A PayPal overview that covers fees and features for your situation can help you weigh its strengths against its drawbacks.
- Merchant fees: Transaction fees for merchants can be higher than those of competitors such as Stripe.
- Exchange rates: Reddit users generally say PayPal's currency conversion rates make international transfers expensive.
- Account holds: Views on Quora are mixed, and some users describe frustration with sudden account holds or hard-to-resolve disputes.