PayPal is the largest and most used third-party payment provider available to businesses and individuals. The service allows customers to shop, make payments and transfer money with ease. In order to use the service, each user has to open a PayPal account. The account created on the platform is connected to a user’s credit card or checking account.

With PayPal, money can be transferred internationally free of charge if both parties have PayPal accounts. This makes PayPal a competitive force in the world of money transfers when sending U.S. dollars internationally.

Another advantage to using the service is that payments made via PayPal are immediately sent to the payee, eliminating the usual bank transfer time.

PayPal attempts to make online purchases safer by providing a form of payment that does not require either side to disclose their credit card or bank account information. By doing so, the customers’ money and privacy are protected.

So how does it work? Users need an email address to sign up and create an account, and must provide a credit card, debit card or bank account to complete the signup process. PayPal verifies the information to make sure that the person setting up the account is the true owner.

PayPal may be a well-known service, but it does have some questionable reviews. Therefore it is recommended to double-check that the service is suitable for your needs before using it. With over 10 million users around the globe, PayPal checks all the boxes for a good online money transfer service.

For a more detailed review, please see the attached table: