how can I set up PayPal to send and receive money?

Hello and Good Afternoon Everyone,

          I currently have a PayPal account which allows me to make purchases online whenever PayPal is an option for payment.  At this point, I would like to extend upon this by learning how to receive funds through PayPal and have it rerouted to my checking account.  I am also interested in learning how to open PayPal and send someone money when need be as well.

          Any shared tips, links outlining the steps and especially YouTube tutorial videos which can address this question will be greatly appreciated.  

          Thank you

Who is Participating?
Leslie BloomCorporate & Product Marketing ManagerCommented:
It's very easy to receive money via PayPal:

Option One:
1. Log in to your PayPal account.
2. Click Request Money.
3. Click Create an invoice.
4. Enter the required information.
5. Click Continue.
6. Review the information and click Send invoice.

Option Two (if they also have a PayPal account):
1. They log into their PayPal account.
2. They select 'Send Money'
3. They enter the email address or phone number associated with your account and enter how much they want to send you.
4. Done!

This is also very easily done through the PayPal app if you want to do it from your mobile phone.

Here is a the official PayPal article about how to send/receive money on PayPal:

Keep in mind using a credit card will incur a small fee, but directly from a bank account is free.
Dave BaldwinFixer of ProblemsCommented:
All that info is on your Paypal account page.  Except they do not automatically forward money to your checking account.  They consider themselves a bank and use your money until you login and manually transfer the money.
Andrew AngellCo-Owner / DeveloperCommented:
The easiest way to start receiving payments with PayPal is to use standard payments buttons.  Here is a guide that outlines how to go about creating buttons for your site, which is basically just entering the options into a form and then copy/paste an HTML snippet on your site where you want the button to show up.  

To send money to somebody else you could just log into the PayPal account and click on the Send Money tab.  You'll enter an email address for the person you're sending the money to along with the amount you would like to pay.  During that process you can also choose your funding source, which could be PayPal funds, bank funds, or a credit card that you have added to your PayPal account.

As for moving money to your bank account from PayPal, you can do this using the Withdrawal option in your PayPal account.  There is a way to make PayPal to that automatically for you if you want to.  You'll need to call them and request that they enable "auto sweep" on your account.  With this enabled they will automatically transfer your PayPal balance to your bank account at the end of each day.
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We have both a personal and business Paypal due to Ebay.
When we receive funds from an Ebay buyer the fee is 30 cents for the transaction and 2.9% of the total amount.

However, in the same business account Paypal allows you to send and receive money from relatives and friends. For these payments that we receive there are no fees.

When our balance is over $100 we always log into our account and request the funds to be sent to our checking account.

If you are not using Ebay or selling items then stick with a personal account.
GMartinAuthor Commented:
Hello and Good Afternoon Everyone,

              I am so sorry for the lengthy delay in responding back to this post.  After reviewing the insightful suggestions given, I must say that each person certainly answered my question.  Each person presented new and thought provoking ways of viewing how PayPal can be used to send and receive funds.

               Thanks so much once again everyone for taking the time to address my question.

nickg5Commented: can send me money by Paypal anytime.... ha ha
GMartinAuthor Commented:

             If I ever get into a position of having a lot of money, I will certainly do that : - )  You have and continue to be very supportive and helpful to me on EE.

             Many thanks for everything you do.

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