Thinking of opening a PayPal business account? Let us find out how to open a PayPal business account in this PayPal Business Account Setup Guide if your primary goal is to accept payments for products and services without paying a fortune on a merchant account.
One of the biggest advantages of a PayPal business account is that it helps you accept debit and credit card payments, online check payments, and even direct payments from customers’ personal PayPal accounts. Furthermore, PayPal business accounts are embedded with out-of-the-box, customer-centric, and purpose-driven tools, features, and functionalities.
This helps you easily set up full-fledged electronic shopping carts or online payment buttons. That’s it! You are then all ready to access readily available funds via a business debit MasterCard or you can simply make a transfer to your primary business or personal bank account.
Step-by-step instructions to open PayPal business accounts (total time: ~10 minutes maximum)
- Visit PayPal.com and click on Sign Up.
- Choose Business Account and then click on Continue.
- Enter your email address and click on Continue.
- Now, you will have to enter your login details and enter some information about your business. Please make sure that you have thoroughly read and understood the User Agreement and Privacy Policy of PayPal before you click on Agree and Create Account.
- Thereafter, you need to choose the most appropriate selections that represent your business from the dropdown menus. Then, you will have to enter your business URL, country, and credit card statement name, then click Continue.
- Then, you need to enter your date of birth, nationality, and home address before you click on Submit.
- PayPal will then send an account confirmation email to you; you’ll need to verify this email before your PayPal account gets ready to use.
How to link PayPal to your bank account? (total time: ~5-10 minutes)
Once you have opened a PayPal business account, the next step is to link a bank account where you can transfer your funds. You should have your PayPal business account login details and bank account details ready with you.
Step-by-step instructions to link a PayPal Business account with your bank account
- Log into your PayPal Business Account after visiting PayPal.com.
- Click on Money on the page’s top-hand side.
- Click Add a new bank account.
- You will now have to enter the sort code and account number before clicking on Agree and Add.
- PayPal will then ask for your approval to deposit a certain amount into the nominated account. You can allow this by clicking Submit Pre-approved Payment Instruction.
- Now, you’ll have to confirm your bank by entering the 4-digit confirmation code. You can find this code next to the PayPal transaction or by logging into your bank account.
We hope that this information on how to open a PayPal business account was useful to you.