Can someone explain Paypal

[mom42860]

I hear lots about Paypal and see I can cash out at Blink with it, but can someone explain it to me in simple terms that a mother of 3 can understand?

 

[bev r.]

Here's what I did when I cashed out at Blink for Paypal:

1. I set up an account on Paypal.
2. After my account was setup and verified (an easy to follow process on Paypal), I redeemed my Blink points. It took 6 weeks before the money appeared in my paypal account.
3. I then transferred the money I had in Paypal to my bank savings account. For the bank account I set up a new account at the bank. I was not comfortable using my regular accounts. In about 3-5 working days (I don't remember exactly how many) the money appeared in my bank account.

The only drawback for me on the process is that Paypal would not allow my paypal money to be deposited in my savings account that is in US funds. The money had to be converted to Canadian funds. I like to keep all the money that I have been earning through Search cactus and Netflip, in US currency, so I don't have to exchange money before my vacations to the US.

I was pleased with how the process worked, and will probably do it again, when I earn enough points.

I hope this helps you out.

 

[mom42860]

Thanks - Can you use a checking acount or does it have to be a savings?

 

[bev r.]

You can use either.

 

[mom42860]

Thanks!