Since its inception, money has come a long way. At first there were natural goods, then they were gradually replaced by silver and gold, which later evolved into ingots and coins. They were replaced by paper money, backed up by checks, then non-cash payments appeared. We live in a world that is constantly changing, apparently, a new milestone has come in the development of money - now the dominance is gradually moving to electronic money. Systems dealing with this type of currency, in recent times many have appeared, one of them is PayPal, which is currently being rolled out in Russia. What is PayPal and how to use it? How is it so significantly different from the same WebMoney and Yandex.Money? Are there any benefits? Let's try to understand together.

Why did he come to us?

According to research conducted by PayPal, Russians are increasingly buying in online stores for electronic money. Another payment option is bank cards, more and more people are abandoning the usual cash in favor of more modern methods. Thus, the emergence of another payment system in Russia was a matter of time.

And is he really popular?

The question of where PayPal is used can be answered briefly: everywhere. It appeared in America at the beginning of the 2000s as an innovative payment system project tied to the address Email. Later, PayPal was bought out by such a giant as eBay, so it is likely that this was the reason for its rapid development - nevertheless, the status of a subsidiary of one of the truly world-class online stores gives very, very much.

How it works?

How to use the PayPal payment system? First you need to get acquainted with the mechanism of its work. When registering on the server, you must specify the email address to which the account will be linked, and the details of the payment bank card (for comparison: the WebMoney system requires only passport data). When making a payment, the online store will contact your PayPal account, and it, after requesting confirmation, will transfer the money to the appropriate account. Everything is extremely simple. The main idea of the system is to combine the maximum number of credit cards, roughly speaking, into one. That is why the answer to the question of PayPal customers: "How to use without a card?" there will be a simple and concise “no way”: the system needs to take funds from somewhere.

Can I register?

We continue to answer the question of what PayPal is and how to use it. Let's get acquainted with the registration procedure in the system.

It all starts with choosing a region and account status. Personal account is the one that will be used individual, the corporate one is intended for companies, online stores and other legal entities. The system prompts you to enter basic information about yourself, such as date and place of birth, email address (to which the account will be linked), and current home address. Then PayPal asks how you are going to pay for purchases: here you select the type of your bank card (MasterCard, Visa, and so on) and enter information about it. A couple of years ago, very few people knew how to use PayPal in Russia, but now that the system is officially legalized, ruble cards can also be linked to it, then all invoices will be issued in Russian rubles. The company works with more than a hundred currencies of the world, the exchange of which is carried out within its system, so if you wish, you can switch to paying in dollars, euros or another currency convenient for you.

The next stage of registration is card confirmation. To verify your account information, PayPal will deduct from it an amount that is a multiple of one US dollar, and a special four-digit code will be contained in the account statement as a comment to the operation, which is a confirmation. As soon as you enter it into PayPal, the deducted dollar is returned to your account, and you become a full user of the electronic money system. Please note: The username you entered in PayPal must match the owner's name bank account to which you want to link, otherwise all payments will be rejected.

How about withdrawing money?

PayPal "eats" money on bank cards, but the account can be replenished with cash. But what to do with the withdrawal of funds? Is there any way to get them out of the system?

The official recognition of PayPal as a non-bank organization gave the company the opportunity to work with the Russian ruble, both accepting it as a payment currency and issuing it to customers who could better understand what PayPal is and how to use it. A PayPal account, as mentioned above, can combine several cards. To withdraw funds to one of them, it is enough to select the card of the bank you need in the corresponding window “Withdraw funds”, enter its details and, after waiting a few days for the multi-stage confirmation procedure to pass, withdraw your funds. Everything ingenious is simple.

You can still get your hard-earned money in currency exchange offices, but then you face a commission of 15% of the withdrawn amount. In addition, you can use the online exchangers of PayPal-money for the same WebMoney, but in this case commissions are also unavoidable.

Unfortunately, there is still a withdrawal limit in the system: you can withdraw no more than six hundred thousand at a time.

And they won't throw me?

The system guarantees the security of its payments, everything is checked several times. If funds were debited from your account without your knowledge, then PayPal will instantly block your card, figure out what the problem is, and return the money. If the transaction is made by you, and the service has not been provided, then the administration of the system assumes obligations to resolve the conflict situation.

What about bonuses?

Of course, PayPal has its bonuses. Some stores, such as Ozon.ru, for example, offer discounts from time to time when paying through this system. Partner sites may return some of the funds spent on the purchase of goods or services back to the card or offer you participation in various prize draws. In principle, everything is the same as with a regular bank card, which also includes a certain package of "amenities" from partners.

findings

So what is PayPal and how do you use it? Firstly, it should be remembered that this payment system is tied to a bank card, so it is almost impossible to “throw” it - the funds will almost certainly be returned to the client, and the violator of the rules will be punished (moreover, such fraud is also punished by law in Russia). Secondly, one of the advantages of PayPal is the ability to withdraw money to any card without commissions, although not very quickly, but the reason for this slowness is the desire to protect users from unauthorized payments as much as possible. And the third bonus is the opportunity to get a number of discounts when paying for goods and services on partner sites. A trifle, but nice.

In the twenty-first century, it's time to forget what paper money is. The future is cashless. And with PayPal, it's even closer.

PayPal is the world's largest payment system with over 179 million active users.

Since October 2012, it has been fully functioning on the territory of Russia. With its help, you can pay for purchases in online stores of any country, as it operates with 25 types of international currencies. "Payment Buddy" (as the name of the service literally translates) allows you to make any financial transactions quickly and most securely.

In order to transfer money to friends or pay for goods and services, you need to register. To do this, enter the official website of the service and click the special button (it is located in the upper right corner). After that, you will automatically be redirected to the page for selecting the type of account: corporate or personal.

A personal account allows you to do the following:

transfer money to your relatives and friends;
bind bank card to pay for online purchases;
put money into your account to pay for goods and services, transfer to friends;
withdraw money to a card or ruble bank deposit.

When registering, you will need to provide your email address, create a password and fill out a form. Data entry is carried out in Russian. After filling in the required fields (full name, passport details, residential address, phone number, etc.), you must confirm that you have read the user agreement, and then click the "Agree and create" button.

Registering, opening and replenishing an account is completely free. With further use, you can always change its status from personal to corporate. Creating a wallet, regardless of type, is possible only in the national currency. But in the course of using the system, you can add other types of currency.

At the end of registration, you can link a credit card to your e-wallet by indicating only the bank card number, its expiration date and the CVV2 / CVC2 code (the last three digits on reverse side"plastic"). After linking, you can replenish the wallet directly from the card or, conversely, withdraw money from it and transfer it to a credit card. You can also replenish your account in cash through the Svyaznoy and Euroset stores.

How to start using PayPal?

The first step that you need to take in order to start using the payment service is to confirm your email address. Only then will the account be considered created, and the user will be able to send and receive Money transfers including without a credit card. To do this, you must log in by clicking the link in the upper right corner of the screen. On the page that opens, you will find a link to confirm your email. After clicking on it, the system will automatically send a letter to the address specified during registration.

To complete the verification procedure, you must re-enter the password used to create your account. After that, instead of a link to confirm the email, a green circle with a checkmark inside will appear. Now you can move on to full use.

But before you start using the service, you should find out the available limits. They are set for all types of accounts. So, for account holders with unconfirmed data, the monthly limit is 200 thousand rubles. The amount includes any financial transactions, whether it is a withdrawal or crediting of money, payment for purchases online. One-time transactions should not exceed the total amount of 60 thousand rubles. This means that without verified data, you will not be able to buy a Macbook Pro 15’’ worth more than 150 thousand rubles in the online store or receive a transfer for a similar amount.

To increase the amount of financial transactions, you must confirm your personal data. To do this, you need to perform the following actions:

enter the service;
click the link "Check your account limits" at the bottom of the page;
on the page that opens, click the "Increase limits" button.

There will be several confirmation options to choose from. To remove account restrictions, you must complete all of them.

One way to verify your passport details is to send a scanned copy of it (pages 2, 3 and 5). To verify your card details, follow these steps:

enter the exact data (number, expiration date, security code);
click the "Add card" button.

Then, in the data confirmation window, opposite the line "Confirm bank card", click the "Start" button. $1.95 will be debited from your account. Consider further actions on the example of a Sberbank card. After debiting funds, you need to visit Sberbank-online, click on the "Account Statement" link and find the required operation.

Next to the operation, you will see a verification code (4 digits) like 2016CODE. Log in to the payment system account and enter it in the appropriate line. Upon completion of the verification, the blocked funds will be returned to the account automatically. If necessary, card information can be deleted or changed.

Where and how can I pay for purchases?

Today, you can pay for purchases in tens of thousands of online stores around the world, including eBay, Ozon, etc. Many payment system partners provide account holders with special discounts, and numerous promotions are held for PayPal users. You can find out about current offers by visiting the "Purchase Center" on the system's website.

This section provides full list merchants accepting payment via PayPal. However, there are a number of stores that are not ready to accept funds in this way. It is impossible to make purchases using this service on Aliexpress and Amazon. But this is understandable, because PayPal and the direct competitor of these trading platforms - eBay - were previously part of the same group of companies. But, starting from the end of 2014, eBay Corporation decided to separate the PayPal system into an independent structure.

Payment for purchases through the system is extremely simple. You need to take a few simple steps:

visit the desired online store;
add your favorite products to the shopping cart;
proceed to checkout by clicking a special button or choosing from the list of available payment options.

After choosing payment via PayPal, a window will automatically open for entering the email address to which the wallet was registered and the password from it. If before the moment of payment you did not have your own account, you can create it right in the process of placing an order.

After entering the required data, the direct payment page will appear. However, you do not have to have a bank card linked to your account. You can specify its details at the stage of order confirmation.

The further procedure for placing an order is standard: you will need to specify the address, delivery method and other necessary information. Payment for purchases for visitors to Russian online stores is always free. But when paying for goods abroad, the system may withhold a conversion fee equal to 4% over the wholesale exchange rate (if the seller refuses to pay it).

Holders of foreign currency debit and credit cards should first disable the conversion. Otherwise, the system will send a request to transfer funds in the national currency (even if the invoice is in dollars or euros), and the bank will transfer the required amount at the internal rate.

Pay securely with PayPal

An important advantage of using this payment service is the availability of the Buyer Protection Program. You can contact the Support Service for a variety of reasons:

non-compliance of the goods with the declared description;
the presence of defects, damage, signs of wear of the goods;
non-delivery of goods to the buyer;
discrepancy in size, style, color, etc.

In all of these situations, the Customer Service will help to return the funds to the buyer's account and reimburse the costs of shipping and return shipment of unsuitable products. The Program partially extends even to the purchase of electronic tickets and documents.

To initiate the refund process, you must perform a number of actions:

open a dispute after 7 or more days from the date of purchase by contacting the Resolution Center;
contact the seller for an amicable settlement;
close the dispute by mutual agreement;
transfer an open dispute into a claim with an unsatisfactory response from the seller.

It is noteworthy that the Center operates around the clock. Its employees will consider the application and make a decision, after which the money for the goods can be transferred to the buyer's account. Another advantage of using the service is the secrecy of personal data (account or credit card details). All you need to confirm your payment is your email address and login password.

How to transfer funds from the account?

You can create a PayPal account to make safe and fast money transfers. To transfer funds to friends and family, you need to make a couple of clicks. Just sign in Personal Area and click "Pay or send funds" at the top of the screen.

After clicking, a window will open with two more links, one of which is to go to sending funds from the account.

You can send a money transfer to absolutely any recipient in Russia who has his own email address. However, it is not necessary for the recipient to have their own account. He will be able to register it after receiving a message about the transfer of money in his name.

You can transfer money not only from your account, but also from linked cards. But in this case, the service charges a commission equal to 3.4% of the amount + 10 rubles. When transferring funds in a non-state currency (US dollars, euros), an additional commission is charged on the conditions described earlier.

How and where to cash out?

In order to cash out the balance on the account, you need to enter your personal account and click on the "Withdraw funds" link. If you have not linked a bank account to your account, you will be prompted to do so and go through the verification process. Two small amounts will be sent to the specified account (crediting occurs within 3 - 7 days). You will need to find out their size and indicate in special fields when you re-click on the link to the output. Upon completion of the verification, you can freely withdraw money to a bank account, without forgetting about the established limits. Withdrawal of money to a bank account or an attached credit card is carried out in about 3-5 days.

There are other withdrawal methods:

to Qiwi wallet;
to Yandex.Money;
on webmoney.

You can use them through one of the Internet exchangers - sites that offer money transfer services between two services (for example, PayPal and Qiwi) for a certain commission. Its size sometimes reaches 10 - 12%, so before using it is important to find out the working conditions of the exchange office.

Withdrawal of funds is available not only on the territory of our country, but also in Belarus, in Kazakhstan. Residents of such CIS countries as Ukraine, Armenia, etc., will also have to link a card and a bank account to an account, go through a similar verification procedure and receive their money directly to a MasterCard or Visa card. In this case, you can receive funds using a bank terminal (ATM).

What is PayPal and how to use it - not everyone knows. The economy does not stand still. Many goods and services can be obtained on the Internet. This electronic payment system was specially developed for the safe conduct of payments, for the convenience of all participants in business relations.

What is PayPal?

The main thing in payments via the Internet is security guarantees. A person should know that his money will not go in an unknown direction, and he will not become a victim of fraud. Payment system PayPal is a system with which you can send and receive financial transfers. Its main feature is to ensure the protection of the rights of sellers and buyers. The company is a kind of electronic bank, as it performs almost the same functions on the Internet.

PayPal - pros and cons

In an era of technological development boom, such a system has become a necessity. Like any product, PayPal service has both advantages and disadvantages. With the help of a payment system, you can even buy a car in a matter of seconds without leaving your home or pay utility bills. All this makes human life much easier. Consider the pros and cons of this system in more detail.

PayPal Benefits

PayPal wallet has a huge number of advantages, among which it is necessary to highlight the following:

to work with this system does not need additional software for PC: you can manage your personal account from any browser and any PC;
high level security is a huge plus: the identity of the client is carefully checked;
an additional security measure - linking a credit card to a virtual account: this operation is needed to confirm the identity of the client;
in case of an unsuccessful operation with money, the user receives his money back.

Cons of PayPal

Every system has its downsides. So the PayPal account is no exception, because it has restrictions in working in the countries of the post-Soviet space. Until recently, it was difficult to withdraw money from an account in Russia. On the one hand, increased security measures are good, but the system blocks accounts on its own at the slightest suspicion, without warning or explanation. It is impossible to convert money into other electronic currencies.

What is PayPal and how to use it?

The PayPal system has a very simple interface. Before starting work, you need to study the system in detail and register. After linking a real card to a virtual account. A lot of sellers in domestic countries go international, and in Europe they have been freely using this payment system for a long time, therefore, the pressing issue remains correct use this device.

How to register with PayPal?

To create a PayPal wallet, you first need to go through the registration process. You only need to provide real information. Otherwise, it is highly likely that your account will be blocked in the future. detailed instructions includes the following:

specify the country, select the interface language;
choose the type of account: corporate (for companies) or personal (for use by one person);
then enter all personal data;
Upon completion of registration, a confirmation email will be sent to your e-mail.

How do I fund my PayPal account?

The second important question is how to replenish PayPal. To avoid problems with replenishment, you need to link a credit card, then it will be easier to perform operations. You can replenish cash through the terminal, for this you will also need to create. And then we bind the virtual card to the account. So there are two ways to get money to your personal account in the system:

transfer money from another PayPal account;
receive payment for the goods or services offered.

How to withdraw money from PayPal?

An urgent issue for many countries of the post-Soviet space was the withdrawal of money from PayPal. There is a way to withdraw money through another person. For example, you need to withdraw money, and he needs to buy a certain product. Then you make an exchange: he pays you in cash, and you pay for his goods in the store from your account. This method allows you not to spend a single extra penny. One of your relatives or friends will become your intermediary to receive money in this way. What is PayPal and what other withdrawal options are there?

Withdraw money at the office of the company. There are not so many such offices, so only some citizens will be so lucky, but in general, this perfect way with minimal fees.
Withdraw money to a bank card. To begin with, you will need to withdraw small amounts of money twice and wait a couple of days. Withdraw through or Qiwi. In this case, these wallets will act as intermediaries. Operations will be carried out faster, but you will have to pay a commission.

How to pay with PayPal?

Another important point, which interests users - how to pay via PayPal. If you need to buy a thing in an online store, and there is indicated this way payment, you just need to select it and enter your username and email address. The money will be withdrawn from the card linked to the account or from the balance on the virtual account itself. The commission is paid by the recipient, not the sender.

What is PayPal and what it is for is very clear. From all of the above, it turns out that this is a system for paying for purchases and services, contributing to the development of the economy in countries where it can be used to its fullest. The only drawback is the difficulty in withdrawing money in the post-Soviet space. Technologies are developing and, most likely, in a couple of years, and anywhere in the world it will be possible to fully use the capabilities of the system. In any case, using such a service is convenient and profitable.

Payment through PayPal for purchases in foreign stores protects 100% from the intrigues of scammers. You can be sure that the money will not go to the side, and you will be left without goods. Customer purchases are protected in such a way that until the buyer confirms receipt of the goods, the money does not go to the seller's account. In case of incidents, the buyer receives his money back. The company is registered in the states as a money transfer company. It performs all banking operations and is subject to a single system of taxation, and its work is regulated by all major laws.

The American electronic payment service Paypal has been gaining momentum in Russia in recent years. It became available for Russian-speaking users in 2011, when it became possible to link bank cards to a Paypal account. Two years later, the currency of the Russian Federation was added - rubles and the function of withdrawing money earned on the network and received transfers to the accounts of Russian banks. As for other countries of the former Soviet Union(Ukraine, Belarus), the system still provides a minimum set of functions for their users.

Due to its security and high speed of transactions, this service has a record popularity. Having entered the Russian market, this payment system has become a serious competitor to Runet services, due to several reasons:

The ideal system for paying for goods in foreign online stores and the popular eBay auction. With Paypal, you can make purchases and use an electronic account in more than 200 countries around the world;
Security of conducted transactions. Payment for goods in the online store through this electronic service guarantees that the purchased goods will be delivered to the buyer, otherwise the money will not go to the seller's account;
Possibility to get money back or part of them for goods that do not meet the declared qualities. The system provides an opportunity for the user who paid for the purchase to open a “Dispute” within 180 days with claims to the seller about the quality of the goods that arrived, or its absence. With a favorable outcome of the dispute, the user will receive his money, or part of it back to his account.
No commissions or a very low percentage of such fees. As a rule, no commission is charged from the buyer for paying for online purchases, it is paid by the recipient of the money transfer - the seller. Additional payments to the wallet owner may arise if payment is made from a linked bank card, and not from an account in the system.

How to open an account with Paypal

For users from Russia, a Russified version of the site is available, therefore, registering is quite simple. Opening an account is available to any user for free.

How to link a bank card and verify it in the system

You can enter information about the card both at the registration stage and after it.

To do this, you need to log in to your personal account, in the "Accounts" tab, select the "Add card" option. To add, both debit and credit card, in any case, it must belong to the owner of the Paypal account, you can specify several valid cards at once.
The following data is entered into the card information block: full number, expiration date (date), security code (three digits located on the back of the card).
Each added card must be verified. To do this, it is necessary that it contains a small amount (2-3 dollars). This money will be withdrawn during the verification process, but it will be returned to your Paypal account. Verification of a payment card is carried out in the Personal Account using the link "Pass Verification", or by clicking on the added card, using the link "Confirm". A certain amount is blocked from the card, and after confirming the operation by entering the code from the SMS message, it is credited to the account in the service.
This completes the verification process - the user raised the status of the wallet, received extended limits and the ability to use the Paypal service.

Why add an account and how to withdraw money from Paypal

To be able to withdraw money earned on the Internet through Paypal, the account owner must add an account in his personal account. The principle is the same as when adding a card, but the registration process may take several days.

Only one account can be added. To do this, in the "Accounts" tab, select the "Add bank account" option. Fill out the form with the required data. After adding, within a few days, small money transfers will be sent to the specified details by the service. When they arrive at the account, the account owner must enter the amount of transfers in the window (via the "pending confirmation" button), thereby confirming that the account belongs to him.

To withdraw money from Paypal, the account holder just needs to go to the "Account" tab, and through the "Withdraw money" option, select the desired amount to withdraw. The money will be received to the specified account (or a bank card attached to it) within 3-5 days.

For residents of Ukraine, withdrawing money in this way will not work. Ukrainians can manage their finances only by shopping in online stores, paying for goods at auctions and some accounts (mobile, Internet provider).

In just a few years, the Paypal payment service has taken a good position in RuNet, thanks to the excellent level of protection of users' finances, the organization of secure transactions, low commissions and ease of use. Owners of Russian electronic systems will have to seriously think about improving the quality and security of their services.

14.09.2017 0

PayPal is an electronic payment system. It was created in the USA for the purpose of internal use. Gradually, the boundaries of action expanded and safely reached the Russian market.
It is about PayPal in Russia - the official website is already available in Russian - that will be discussed in this article.

PayPal official website

The main purpose of PayPal is to accept payments for goods purchased on the world famous auction site eBay. On the this moment, the official website of PayPal operates in Russia. Before moving on to registering with PayPal, you need to find out what opportunities the system can provide to its users and how to create your own wallet and use it.

Due to the great popularity of PayPal, most virtual stores have registered their wallets in the system in order to accept payments from buyers in Europe and the USA, as well as in the Russian Federation.
At first glance, it may seem that there is no difficulty in the process of registering your own account and creating a virtual wallet. However, it is at this stage of registration that difficulties arise due to ignorance of the following points:

how to link a bank card;
which bank is better to deal with;
what email address to use;
what is the best account.

What do you need to register with PayPal?

Paypal virtual wallet is free for users. When registering PayPal in Russia, you must:

using any suitable mailbox: Yandex, Gmail, Mail, etc. It is advisable to use paid services from the “com” zone, this is a recommendation from the PayPal security service. The Gmail resource is traditionally used. Despite the fact that this service is free for the user, its level of protection is quite high, which deserves special respect.
It is necessary to issue, for the opening of which a few dollars will be enough. These facilities are required for authorization behavior. Otherwise, you will not be able to link a credit card. As a rule, Russian banks make it possible to open virtual cards in different currencies, including USD.

When both of these conditions are met, you can proceed to the step-by-step process of registering PayPal in Russia.

How to register with PayPal

First of all, you need to go to the official portal. Next, find and press the "Register" button.

Then a page will be displayed where you need to select the optimal account.

Personal account- is a virtual wallet designed to pay for goods/services via the Internet, as well as Money to other wallets within the system. The screen displays leading hints and account descriptions.
Corporate account. Usually it is used by private entrepreneurs specializing in sales on the Internet. This type account provides its users with ample opportunities and has good protection.

After the wallet type is selected, you must press the "Continue" button. Here you will need to select Russia (the country of residence of the user) from the provided general list. Then, a little lower, you enter an email address and a password that allows you to enter your personal account. The password must include 8 characters from numbers and Latin letters.

When passwords, mail and country name are entered, press the "Continue" button. Next, the next page will be presented for filling in for entering personal data. They should be entered in Cyrillic, despite the fact that the system itself is of American origin.

On the this stage the series and number of the passport, address of registration and telephone number are indicated. Then you need to confirm that you have read and agree to the current rules of the license agreement and click the button with the inscription: “I accept and create an account”

All data entered must be valid. The information is carefully checked by the security service.

Linking a card to PayPal

There are only three items to complete here:

All virtual card details can be found at the nearest bank branch. You will need to provide proof of identity (passport or driver's license). Or find out all the information through Internet banking.

Once the card has been filled out, PayPal's security team will verify it. After that, an email will be sent to the specified email address. As you can see, the registration process is quite simple. The main thing is to take into account all the accompanying nuances so that during the filling there are no difficulties.

Verification of rights to e-mail and card

Completion of registration does not give the right to use all the features of PayPal in Russia, you must pass verification. Its purpose is to confirm that the mailbox and credit card belong to the applicant.
To do this, you need to enter your personal account, go to the "Profile" section. A menu will appear where you need to select: "Add / change email address."

A page will be displayed where the mailbox specified during registration will be displayed. After selecting it, press the "Confirm" button. A link will be sent to this email shortly. It will have to go through.

Next, you need to confirm the credit card. We go to the “Profile”, where you need to select: “Add / change a bank card”.

Then carefully follow the prompts on the screen. For verification, 1.95 USD will be charged from the credit account (they will be returned in full). After debiting funds, you should find an extract of financial transactions for the card used. In the payment details, you need to find four numbers and enter them on the PayPal website.
An extract can be requested by phone hotline, at a bank branch or use Internet banking. Since PayPal works in Russia on an official basis, there are never any problems with registering and linking a card.

On a note:

Personal data must be entered valid.
After confirming the card, if there is not enough money on the current account to pay, the missing part is debited from the linked card automatically. Funds are converted at the rate set by the bank at the time of the payment.