PayPal is a full money-transfer service based on real currency, commonly used for online purchases. An online shopper may use a PayPal shopping cart of an online merchant as a shield for personal credit card information without registering for an account. However, if you wish to receive funds or use a bank draft, you must register for a PayPal account. Select a personal account for shopping and occasionally receiving funds. The premier account allows you to accept credit card payments and use a PayPal debit card for ATM withdrawals, and business accounts provide additional reporting tools for merchants.
Review the PayPal services for your country. Click "Worldwide" in the footer of the PayPal homepage. In some countries, PayPal can process only credit cards. In others, a user may transfer funds to or from a local or United States bank account. If your locale qualifies, open an account.
Click on "Sign Up" in the upper right corner of any PayPal page. Select your country and preferred language, and the page will reload to reflect your choices. Click on "Get Started" under your chosen account type, either "Personal Account," "Premier" or "Business" account. Fill out your name, email address and address. Select a password eight characters or longer and enter your phone number. Click "Agree and Continue" after double-checking your entries.
Choose your payment method. Select "Bank Account," "Credit Card" or "MoneyPak." Follow the prompts to input your bank account or credit card numbers. When you choose "Credit Card," you may shop immediately. The "Bank Account" method requires verification. A MoneyPak card acts as a debit card. Purchase and charge one at a retail store, such as a chain grocery or drug store.
Confirm your email address. Under "Profile," click on "Add/Edit Email." Select "Confirm." Scan your email in-box for an email with the subject "Activate Your New Account." Click the link embedded in the message to verify your email address. A PayPal confirmation page launches. Enter your PayPal password. Select two security questions and answers. At the bottom of the page, scroll to select your country.
Check your online banking account or bank statement, if you chose "bank account" as your payment method. PayPal makes two small deposits in your bank account as a test. After the deposit occurs, click "Get Verified" on your account screen and enter the two amounts. A verified bank account also provides PayPal with identity confirmation, enabling the service to raise both your spending limits, and the ability to receive and withdraw payments received from others.
Verify your identity with a credit card if you did not choose "Bank Account." While you may pay for transactions with an unverified credit card, PayPal charges the equivalent of $1.95 to verify your identity. However, the amount is credited back to your PayPal account. Look for a four-digit code listed along with the transaction on your credit card statement, and enter it by following prompts and instructions on the "Get Verified" screen.
Verify your identity. Link a bank account to PayPal for further identity confirmation, enabling the service to raise your spending and receiving limits. Alternatively, apply for a PayPal Extras Card or PayPal Smart Connect, formerly known as PayPal Buyer Credit. The bank requirement is waived on approval, and to qualify for the card, your credit status will be evaluated. The card or credit line can also serve as an additional back-up funding method.
- PayPal limits MoneyPak transactions to $250 annually per registrant. To lift the limits, submit your name, address and Social Security number with Green Dot, the card's administrator.
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