Setting up a business PayPal account enables your business to take payments for products and services without having to pay for an expensive merchant account. Your business can also take credit card and debit card payments, online check payments and direct payments from customers' personal PayPal accounts. PayPal business accounts also come with tools to help you set up online payment buttons or full-fledged electronic shopping carts, and your funds are readily available via a business debit MasterCard or a transfer to your main business or personal bank account.
Visit PayPal.com and click "Sign Up."
Enter the requested information. The process requests the new PayPal account owner's name, address, email address, business address and business customer service contact information. Once all requested information is completed, submit the form.
Open your email and check for new messages. Look for the verification email from PayPal. This notification normally arrives within minutes, and is required to open your account.
Log into PayPal and follow the remaining instructions that require you to enter your bank account information. You can set up a business PayPal account with either a personal or business bank account. Enter the name of your bank along with the personal or business account number and routing number as instructed. PayPal will then send a verification request to your bank in the form of two small deposits. It normally takes three to five days for the verification process to complete.
Check your personal or business bank account transactions three to five days after setting up the PayPal account. Once you see two deposits from PayPal, you can finish setting up your account.
Log into your PayPal account and follow the instructions to finish verifying your personal or business bank account information. PayPal will then tell you your new PayPal account set up is complete, and ask you to choose your preferred business payment method. You will also be able to set up other business-related features, such as requesting a debit MasterCard, or setting up an online shopping system.
- Valid email address
- Customer service information
- Business address and phone number
- Bank name
- Business or personal bank account number
- Bank routing number
- Establishing up a PayPal account is free and you only incur charges when you make sales. With each sale — regardless of the payment type your customer uses — PayPal will charge you a small percentage of the total as a processing fee. The percentage amount charged varies according to your location and each customer's.
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