6 Min. Read
August 2, 2024
PayPal is a simple-to-use online payment platform that makes it easy to send and receive money with either a personal or a business account. It is secure, using two-factor authentication. PayPal business account pages are popular because it doesn’t cost you anything to send money, request money, or make purchases online using your PayPal account balance.
Key Takeaways
- Your PayPal balance account shows the funds you have available for use in your PayPal accounts
- To check your balance, simply login to your personal account on your computer or mobile device, and you’ll see the amount on your screen
- The most popular method of sending and receiving money is through an instant transfer, sending eCheck, or connecting a credit card to your account and using PayPal for credit card purchases
- To look at past transactions, check the Account Summary page, or click the Money option for a more detailed breakdown of any recent transactions
Table of Contents
- What Is PayPal Balance?
- Different Ways to Use PayPal
- How to Check Your PayPal Balance on Mobile
- How to Check Your PayPal Balance on Desktop
- How to Get Paid 2x Faster Using an Alternative Option
- Conclusion
- Frequently Asked Questions
What Is PayPal Balance?
A PayPal balance section is part of the online platform’s services, allowing you to store funds in your PayPal account. Much like a bank balance, you can use this money to pay for goods and services online or send money to loved ones.
If you have a PayPal Cash Card, you can spend your PayPal balance in the same way you would use a debit card from your bank.
Different Ways to Use PayPal
There are several ways to use Paypal including:
- An instant transfer, in which the money sent gets credited to the receiving account immediately
- Pay for items online using funds that remain in the PayPal account
- Transfer funds from your account into your personal bank account
- Sending an eCheck, which functions the same as a physical paper check but in digital format
- Use your PayPal account for online credit card purchases
How to Check Your PayPal Balance on Mobile
To check PayPal balance on mobile, PayPal’s app works on any type of device. Essentially, all you do is open up the app to see your balance. So, if you don’t already have it downloaded, that will be your first step.
Once you have the app downloaded, open it and log in with your email address and password. Your balance will appear on the left-hand side of the main account page. If there is a negative balance or your account is temporarily on hold, contact PayPal customer service for more information, or you can add money from your bank account.
How to Check Your PayPal Balance on Desktop
While the PayPal app works great, you may wish to monitor your business expenses through your computer. To log in to the PayPal website on your preferred browser, click Log In, and enter your email and password account details. As soon as you are signed in, your account balance will be shown near the top left of the page.
How to Get Paid 2x Faster Using an Alternative Option
FreshBooks Payments is a powerful online tool that lets your customers pay directly, with simple links and easy-to-follow instructions, keeping track of all transactions in your private small business account. Link and integrate payment options, including PayPal or credit card to make it easier for customers to pay you up to two times faster.
FreshBooks Payments also allows you to accept online cash through simple checkout links on your website or other online platforms for a quick click-and-pay direct payment method your customers will love. From recurring invoices to one-time billing, FreshBooks has the flexibility your small business needs so you can control your cash flow and get paid faster.
Conclusion
PayPal is a secure and easy platform to use if you want to send money or receive funds. Your PayPal balance is any amount of money you have in your account. You can send that money to somebody else, you can withdraw it to your bank, or can use it to make online transactions. Because PayPal is easy to use and secure for both the sender and the receiver, it has become one of the most popular payment platforms worldwide.
You can utilize this site for personal use, or you can connect it to your business and take payments. Your customers will love the simple method of payment. Simply connect it to your online shop or send a link with your invoice, as payments can be made from any computer or smartphone.
FAQs on PayPal balance
What’s the difference between PayPal and PayPal balance?
Your PayPal Balance is the amount of money in your account at any given time. If you have money in PayPal, you can purchase goods and services.
How do I convert PayPal balance to cash?
To withdraw money from your computer or mobile device, sign into the PayPal app or website, go to Wallet, and click Transfer Money. Select Transfer to your bank, choosing either the 1-3 day option with no fees or the faster Instant withdrawal option with a fee. For more information follow our guide on How to Send Money to Paypal from Bank Account.
How long does money stay in PayPal balance?
As long as you remain active on the site, your money can stay in your PayPal balance indefinitely. Depending on your location, the government may require “abandoned” money to be turned over to authorities after as little as two years, so log in to the PayPal app frequently.
Do you need a bank account for PayPal balance?
No, the entire process of sending money or receiving a direct deposit can be done online. You can use your PayPal balance to make payments or send money to friends and family. You may also use a PayPal card to shop, spending your current balance the same way you would use your debit cards.
Can you check your card balance on PayPal?
If you have a PayPal credit card, you may check the balance and recent transactions by logging into the website on your computer or the app on your phone or tablet, downloaded from Google Play or the Apple App Store. You may also phone their customer service line.
Jason Ding, CPA
About the author
Jason Ding is a seasoned accountant with over 15 years of progressive experience in senior finance and accounting across multiple industries. Jason holds a BBA from Simon Fraser University and is a designated CPA. Jason’s firm, Notion CPA, is an accounting firm with a business-first focus. The firm specializes in preparing personal and corporate taxation while providing fractional CFO work and leading the accounting and finance function for several small-to-medium-sized businesses. In his free time, you’ll find Jason on the basketball court, travelling, and spending quality time with family.
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