What is PayPal?

 
PayPal is an online service that enables you to buy and pay for things online, as well as send and request money to and from others. 
 

How does it work?

 
When you set up a PayPal account, you link it to your Community First Credit Union account or Community First Credit Union credit card so that each time you make a purchase, all you need to do is enter your user details, and the transaction is automatically made from either available funds in your PayPal account, or via a payment from your linked Community First Credit Union bank account or credit card.
 

What you need to know when making international transactions

 
As PayPal is regional, you may find that payment processing time-frames differ from one country to another. This is because different countries operate on different time zones, such as America who are one day behind Australia. 
 
PayPal assume that there is available funds in your Community First Credit Union account or credit card whenever a payment is initiated; otherwise, this may result in overdrawn fees.
 
This means that when making deposits to your linked accounts to allow for PayPal purchases, you should ensure that you have enough funds available at least 2 days prior to making a PayPal purchase to avoid any dishonour fees that could result from differences in payment processing times.
 
As an additional reminder, when you go to make a payment via PayPal, you will be notified of the following:
 
"If you select your Nominated Bank Account and we are notified by your bank that it does not have a sufficient balance to fund the transaction, you authorise us to and we will subsequently fund the transaction through your Nominated Card. You may be charged a dishonour fee by your bank for having insufficient funds."
 
PayPal’s terms and conditions and payment processing timeframes are applicable to Community First Credit Union Members who choose to use PayPal.