PayPal is an easy-to-use payment platform available for use in over 200 countries around the world. However, it charges high fees and is widely known for its frustratingly poor customer support.
Instead, I recommend using Cash App, a PayPal alternative with much lower fees and unique features like stock and crypto trading. And from now until March 22, 2023, you can get a $5 signup bonus (plus another $30+ after opening your account) using my Cash App referral code 737GWQC.
Two Reasons I Recommend Cash App Over PayPal
#1 Lower Fees
PayPal is notorious for charging incredibly high fees, even on small transactions. For example, if you pay a friend $20 using PayPal, there’s a good chance you’ll have to pay $2 or $3 in fees, which is 10-15%. The fees do get lower on a percentage basis if you send larger amounts, but most of us aren’t sending thousands of dollars at a time, making PayPal prohibitively expensive.
Cash App’s fees, on the other hand, are significantly lower. Instant transfers with Cash App cost 0.5% to 1.75% of the transfer amount (minimum fee $0.25), while standard transfers take 1-3 business days and are completely free.
Note: You may enjoy our list of ways to earn free PayPal money.
#2 Better Customer Support
I’m going to point out the elephant in the room: PayPal’s customer service is horrible. Rip-your-hair-out sort of horrible. Getting someone on the phone is nearly impossible, and even if you manage to, they aren’t helpful at all.
Cash App customer support is better. They respond quickly (within a minute or two), give helpful answers, and don’t keep you waiting for weeks to get an answer to your question.
How To Get Your Cash App Bonus (The Easy Way)
- Download Cash App and enter the Cash App promo code 737GWQC.
- Have a friend also download the app using the same code.
- Link your bank account or debit card and deposit at least $5.
- Send $5 to your friend, and then have them send it back. You'll both receive the signup bonus immediately.
Update: You can also get a nice signup bonus using this Fetch Rewards referral code.
How To Use Your PayPal Referral Code
PayPal has a referral program for new users. When you sign up with PayPal using my referral link, you'll receive a bonus of $10 deposited to your account. You can also send invites to your friends to earn up to $50.
To use the promo code:
- Visit PayPal‘s website and click Get Started.
- Choose either a personal or business account and select your country.
- Confirm your mobile phone number.
What Is PayPal?
PayPal is a US-based international fintech company primarily known for its online payment system available in over 200 countries. In 2002 it became a subsidiary of eBay, and in 2015 it once again became an independent company. Currently, it's one of the 200 largest corporations in the US by revenue, and in recent years buying crypto with PayPal has become popular, too.
PayPal Features
Some of PayPal’s top features include:
- Secure payment platform with Paypal Purchase Protection.
- Available across 200+ global markets.
- Setup recurring payments.
- Link your credit card with PayPal and earn cashback on eligible purchases.
How To Get Your Cash App Bonus (The Easy Way)
- Download Cash App and enter the Cash App promo code 737GWQC.
- Have a friend also download the app using the same code.
- Link your bank account or debit card and deposit at least $5.
- Send $5 to your friend, and then have them send it back. You'll both receive the signup bonus immediately.
PayPal Fees
- No minimum balance fees.
- Sending money incurs a 3.4% fee + an additional fixed fee depending on the country you're sending the money to.
- Receiving money is free, unless you receive it as a business, in which case you pay somewhere between 2% – 4%.
- Currency conversion fees from 4% – 4.5%.
How To Sign Up With PayPal
#1 Visit PayPal‘s website and click Get Started or Get the app.
#2 Choose either a personal or business account and select your country.
#3 Confirm your mobile phone number.
How Does PayPal’s Refer A Friend Program Work?
After creating your PayPal account you can start inviting friends and family. With the current referral promo, you can earn $10 per referral. To invite friends:
- Log in to your PayPal account and send $0.01 or more to your friend's email address.
- If they don’t have an account already, they will be prompted to create a PayPal account.
- You'll both receive a $10 bonus.
Keep in mind that you can invite a maximum of five friends for a total bonus of $50.
Is PayPal Safe & Legit?
PayPal is safe for both buyers and sellers; all information is encrypted and secure – as long as your network is secure. In 2008 Paypal Europe, aligning with European Union Laws, PayPal was granted a banking license in Luxembourg, to operate in all Europe under the authority of the Commission de Surveillance du Secteur Financier (CSSF).
In the US, Paypal is regulated by the Federal Trade Commission (FTC) and by other entities on a state-by-state basis.
In Summary
PayPal is an easy-to-use payment platform available for use in over 200 countries around the world. However, it charges high fees and is widely known for its frustratingly poor customer support.
That's why I recommend using Cash App, a PayPal alternative with much lower fees and unique features like stock and crypto trading. And from now until March 22, 2023, you can get a $5 signup bonus (plus another $30+ after opening your account) using my Cash App referral code 737GWQC.
