PayPal account holders receive money directly into their PayPal accounts. If recipients do not have a PayPal account, they simply open one and link it with an email address or mobile phone number. Then, when recipients log in to PayPal, they can spend the money online at any merchant that accepts PayPal, transfer the money to an account at another financial institution (while the funds will be transferred right away, it may take up to three business days for the funds to post to the recipient’s other account), or request a check from PayPal (a fee may apply).