If you want to use the PayPal service, but do not know how to carry out PayPal account opening, then you are on the right page. I will be taking you through steps on how you can open both the PayPal personal account, as well as the PayPal business account offered by PayPal.
PayPal Account Opening
PayPal offers two account types for users. They are the personal account and the business account. The personal account is designed to help users send or receive money from their friends and family, shop securely without transaction fees, after adding a debit or credit card or bank account. The business account, on the other hand, is for those who wish to transact business online, securely accept credit and Visa Debit card payments without paying any monthly fee. You can open any of the accounts depending on what you want to use the account for.
PayPal Personal Account
This is an account designed for users who want to send or receive money from their friends and family. With this account, you can also shop securely without paying any transaction fee. Signing up for PayPal personal account is free.
PayPal Business Account
This is an account type designed for those who wish to transact business online. With a business account, you can operate under your company or business name and accept debit cards, credit cards, as well as a bank account payments for a low fee. You can also allow up to 200 employees with limited access to your account. You will also need a PayPal business account or premier account for at least 90 days and process a minimum of $15,000 if you are applying for working capital
What Information Do You Need to Open a Personal PayPal Account
In order to successfully open a personal Paypal account, you will be required to provide your first name and last name, address, phone number, and email address.
For your protection, you will have to create a password for your new account, and choose 2 security questions.
After signing up for an account, you can start receiving money immediately. In case you would like to send money to family and friends, you only need to add a payment method, such as a debit or credit card, or a bank account.
PayPal Personal Account Opening Benefits
Opening a personal PayPal account gives you access to enjoy the following benefits:
- Sign up for an account for free, and shop without transaction fees, no matter how you choose to pay.
- You can shop securely and store all your financial information behind a single secure login.
- Users can shop globally, pay on sites of all sizes worldwide, and in 25 currencies.
- Shop in your country and around the world from your computer or on your mobile, without sharing your financial information with the sellers.
PayPal Personal Account
There are two categories of accounts from Paypal that you can choose from. They are personal accounts and business accounts.
To sign up for a personal account:
- Scroll to paypal.com/welcome/signup/#/email_password
- Fill out your email address
- Enter your First name and Middle name and Last name.
- Create your password.
- Confirm your password.
- Then, click on the “Next” link
- On the new page, enter your Nationality.
- Key in your address line 1 and Address line 2.
- Enter your Postal code – City / Town / Village / State / Province / Region.
- Fill out your Date of birth
- Enter your phone type – Phone number.
- Click on the “Stay logged in for faster checkout” box if you want to stay logged in. If not you can skip.
- Review, and agree to Paypal’s User Agreement and Privacy Statement.
- Then tap in the “I Agree” to create your account.
PayPal Business Account Benefits
The business account gives you access to enjoy the following:
- You can securely accept credit and Visa Debit card payments without paying any monthly fee.
- Your buyers do not need to have a PayPal account.
- Users get paid faster with Online Invoicing and Paypal Checkout.
- You can securely sell with a Paypal seller protection.
Requirements for Opening PayPal Business Account
To open a PayPal business account, you will need the following:
- A valid email address
- Customer service information
- Business address as well as phone number.
- Bank name
- Business or personal bank account number.
- Bank routing number.
PayPal Business Account
Setting up a business account is quite easy and can be done in minutes as long as you have the required basic information available. Then you have to choose the type of business account that fits your needs first as different levels of account, comes with different features and charges.
- Start by hitting on ‘Sign Up’, then choose the option to create a business account.
- Select the business account package that fits what you want.
- Key in the email address you want PayPal business account to be linked to.
- PayPal will prompt you to choose a login and password, and there, key in the basic details of your business including the registered address.
- Key in some information about the type of business you operate, as well as the actual or anticipated turnover.
- Enter your Employer Identification Number (EIN), also known as the Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number.
- You will be prompted to key in your social security number and date of birth, to enable PayPal to confirm your identity.
After you have filled out all your details, your account can be approved, and ready to run.
With a PayPal account, you now have access to join the ever-growing millions who are enjoying the services of the no 1 online payment system in the world.
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