According to my Paypal account today I have been a member for 6 years 6 months 26 days. I know, most of you did not even know about Paypal on 18 July 2000 (the day I signed up). Today many people still do not know about it and the abundance of useful features it has incorporated into itself over the years for both consumers and businesses alike.

Paypal is a fast and safe way to both make and accept payments online. There are active accounts in over 100 countries, including mine in the Czech Republic which I use to transfer money between my bank accounts here and in America as well as accept payment for freelance projects I do from time to time.

Yes there are other companies that do the same or similar things but I have been using Paypal for a long time and have never had any problem with it, so I can attest to its safety and security. In my six plus years as a customer I have never had a problem, not once.

A list of features currently available with Paypal includes:

- The ability to transfer money to and from a bank account, usually for free. In some countries there are minimums that you must transfer in order to forego paying a fee. For me it is 2000 Czech Korun or roughly $100. Here is an example of the fees for *America.

* source: Paypal.com 13 Feb 2007 - Fees subject to change without notice.

- The ability to pay directly through paypal using a credit card. By using this feature your card number is never sent on to a merchant, instead Paypal maintains an extra layer of security and privacy and the seller is only able to access your paypal profile. Personal account payments are always free. Paypal makes its money by charging a low percentage to business accounts that accept payments.

	Personal Account	Premier/Business Account
Open an Account	Free	Free
Send Money	Free	Free
Withdraw Funds	Free for bank accounts in the US Fees for other banks	Free for bank accounts in the US Fees for other banks<
Add Funds	Free	Free
Receive payments funded by PayPal Balance, PayPal Instant Transfer or PayPal eCheck	Free	1.9% to 2.9% + $0.30 USD
Receive payments funded by Credit Card, Debit Card or Buyer Credit	4.9% + $0.30 USD (limit of 5 transactions per 12 month period)**	1.9% to 2.9% + $0.30 USD
Multiple Currency Transactions	Exchange rate includes a 2.5% fee** Fees for cross border payments	Exchange rate includes a 2.5% fee** Fees for cross border payments

** If your transaction involves a currency conversion, it will be completed at a retail foreign exchange rate determined by PayPal, which is adjusted regularly based on market conditions. This exchange rate includes a 2.5% spread above the wholesale exchange rate at which PayPal obtains foreign currency, and the spread is retained by PayPal. The specific exchange rate that applies to your multiple currency transaction will be displayed at the time of the transaction. ** Personal accounts may not receive payments funded by credit card, debit card or Buyer Credit for eBay or eBay Express transactions without upgrading to Premier or Business accounts. Does not apply to Website Payments Pro or Virtual Terminal. - Source: Paypal.com 13 Feb 2007

- Sign up for a Paypal Debit card and access your money anywhere. Hey I sound like a Visa commercial, but that is essentially how it goes. This is a great feature if you begin to use Paypal a lot and store money in it because that money is then available to you wherever you go and usually has lower fees associated with it compared to traditional banking options.

- Worried about security or privacy? Paypal has you covered with a variety of protection programs for both buyers and sellers. The buyer protection is designed to help recover funds from eBay sellers who 'take the money and run' so to speak. It also helps recover money from goods that are incomplete or damaged through the dispute and resolution center.

- Other protection features include shipment tracking and worldwide approved sellers list.

- Earn money on your balance. With the PayPal Money Market fund (U.S. accounts only) you can earn a return on that money sitting in your account. As with all investments there is a chance that you could lose some money, nothing is guaranteed. The previous performance of the fund is approximately 5% which is not too shabby and it is managed by Barclays Global Fund Advisors.

There are numerous other features that make Paypal an attractive option for your 21st century monetary needs that allow for flexibility as well as safety and ease of use including mobile phone operations, credit cards and verification or reputation ratings. Overall the system is robust and secure and I highly recommend it for both personal and business use.

Phishing Scams & Protecting yourself:
There are a host of phishing scams involving Paypal where nefarious types will attempt to wheedle your account name and password out of you. Here is the best way to protect yourself. NEVER CLICK ON ANY LINK IN EMAIL THAT STATES IT IS FROM PAYPAL.
If an email arrives that states it is from Paypal with links in it the best way to verify the validity is to open a new broswer window and type in PAYPAL.COM in the browser address bar and login there. How the phishing scams work is they will include links in the email for you to click that will take you to their own server where they will record your username, email and password and then attempt to login and steal money from you. Generally I forward the emails to paypal to help them track and close down these operations. You can also go to this link https://www.paypal.com/us/ewf/f=pps_spf and report it with all the pertinent information. If you follow that simple rule up there in red you too can have 6 years 6 months and 26 days of trouble free Paypal usage, just like me.