It’s not a secret that PayPal is the dominant electronic payment system worldwide, and one of the first on the market.
It’s not a secret that PayPal is the dominant electronic payment system worldwide, and one of the first on the market. But it’s worth acknowledging, and it’s a bit sad, that for a Ukrainian user there are a lot of problems connected with it and it is put in last place in terms of profitability and comfort on a small list of well-known online helpers for conducting and getting payments . Let’s discuss all the points one by one. We can mention all he pros of PayPal and say that it’s supported by most trading platforms, such as eBay (by the way, PayPal belongs to them), Amazon, Depositphotos, Etsy and many others, and that this is the fastest and the most reliable way of payment on the Internet and a must have for those who do business on the Internet or freelances. This is the truth, and today most users, as private individuals, as businessmen call it mainstream . But for some reason, clients from Ukraine can’t get payments in their PayPal accounts. This means that Ukrainians don’t have a right to cash out money from their electronic accounts. Having analyzed the PayPal account, we came to the conclusion that the authorities, and local bank systems of developed countries could make an agreement and the withdrawal to these banks doesn’t cause any difficulties and quite often doesn’t requireany commission payment. These are the countries of the European Union, the USA, Canada, Australia, Russia and a few more. A user can usually make a withdrawal in a default mode to an account in a USA bank (always) and in a bank of the country of its residence. A Eurozone client can get money out fromhis bank account in any Eurozone country + San Marino and Monaco. Sometimes you can get money only from an account in a USA bank, but Ukraine isn’t even included in the list of regions, which means that accepting payments and, as a consequence, getting money out is impossible. This is a serious inconvenience for those who do eCommerce on a regular basis, but considering the fact that most clients haven’t heard of other not less popular systems, such as Skrill or Payoneer, we have to look for alternatives to get money out. There are three main ways to withdraw money: 1) Though relatives who live abroad; 2) Through commercial intermediaries; 3) Through Payoneer. The first way is great only for those who have acquaintances or relatives in a country in which you can get money out, and you trust these people. You link the account of your agent to your PayPal account created beforehand according to the locality,, get money from clients, withdraw them from an account of your agent, and then hope that you didn’t make a mistake when you trusted this person, expecting the payment through Western Union or a similar system. The second way is to contact intermediaries, which are everywhere on the Internet now. After registration or identification at such websites, you get requisites, which will be used when offering services to your clients or trading on online platforms. The scheme is simple: the intermediary has a foreign PayPal and bank accounts, money from your clients first go in thier PayPal account, then is withdrawn from a bank account, and after that is put on your bank card, mentioned when registering. As usual, such services cost from 14% to 19% of one transaction, which is supposed to cover the expenses of the intermediary to withdraw and transfer between banks and bringing you your profit. The third way is the withdrawal through the familiar Payoneer. This way, in our opinion, is the most convenient, and for big money amounts – the most economical. You only have to set everything up once, and then just use it. You only have to get the card, then link an ordinary debit bank card to PayPal, and that’s it! In 3-5 days after your withdrawal request, it will appear on the Payoneer card. We’ll tell you how to get your money out of it later. How to get a Payoneer card? Of course, you can register online– there’s no other way in these times. When registering, besides your name and surname, you have to enter your e-mail address, and do it as attentively as possible, as Payoneer will send a plastic MasterCard card using this information (you’ll have to wait for 2-3 weeks), and it’s totally free. The card will be activated after the first usage – when you withdraw money for the first time. Please note that there is an annual fee for card maintenance of $29.95, and this amount is charged to you the first time you use the card, so don’t forget to put money on it first. How does business work with PayPal? Everything is quite simple: a company in the EU is registered (for example, Estonia or Cyprus), an account in a local bank is opened, and a PayPal account for this company, which is an EU resident and isn’t at high risk to PayPal, is registered. In conclusion, we’d like to say, that no wonder PayPal is the most widespread electronic payment system, and every product has its customer. Maybe, it’s worth trying it yourself to assess all the pros and cons.