Are you looking for How to set up Paypal account to receive and send money from anywhere? If yes, you are the perfect place to create a personal account or Paypal business account.
What is Paypal?
PayPal is the faster, safer way to send money, make an online payment, receive money. To do this you must create a PayPal account.
It is a global e-commerce business allowing payments and money transfers to be made through the Internet.
Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders. In this article, you can learn how to set up a PayPal account to receive money?
- Paypal established in 1998.
- On October 3, 2002, PayPal became a wholly-owned subsidiary of eBay. Its corporate headquarters are in San Jose, California, the United States at eBay’s North First Street satellite office campus. Let us learn the details of How to open a Paypal account.
- On March 17, 2010, PayPal entered into an agreement with China UnionPay (CUP), China’s bankcard association, to allow Chinese consumers to use PayPal to shop online.
So This is the background of Paypal. It goes to the best and genuine money transaction platform. Here the PayPal is very important to receive online earnings to your bank account securely. Let us now learn how to set up a PayPal account.
For several years now, PayPal has solidified itself as the payment system of choice for anybody operating online. When people worked over the Internet, you would have assumed that some hassle-free credit-card payment system would have been the system of the option.
However, the cumulative greediness of the significant credit card processors created to avoid online. Where companies without a great deal of available capital required a low-cost method to offer perspective on the internet customers with a fast and hassle-free way to pay for points online.
The requirement for a low-cost and also practical payment system was fed by the millions of transactions taking place on eBay. where most vendors had little expendable money to pay for a credit card payment system.
Many buyers only had a bank account and charge card to pay with, and most were cautious of inputting in their credit card information over the Internet. with so many instances of credit card numbers getting hacked on the web.
Go into PayPal, a system where both purchaser and also seller established a risk-free and safe account that can be fed with funds from a checking account, and where the only point required for monetary transactions on the web is an e-mail address.
This secure online transaction was an excellent remedy, providing sellers with one of the simplest means to accept repayments on the net, and with sellers, a “safe-zone” of transactions.
They could just use their e-mail address to purchase, and also leave the credit card numbers hidden. Follow this on how to set up a PayPal account guide.
Paypal account is compulsory for the secure online transaction if you are working with Affiliate Marketing Programs. Most of the companies are offering online part-time jobs. They are sending payments via Paypal accounts only. You can join and receive your online earnings.
How to set up PayPal account to receive money?
Paypal is the most popular online payment system to send and receive payment from overseas. It helps you to complete online shopping without re-entering your card details and personal every time. You can be setting up a PayPal account easily with few steps. To create a PayPal account or to learn how to create a PayPal account?, just follow the steps to create a Paypal account given below,
Step 1: Getting started Paypal account creation
To create PayPal account, you have to start the signup process, first, you have to go for their official Paypal homepage. Here is the simple link to signup
Step 2: Open sign up form
Now press the button “Signup”, which is present on the right top side of the page.
Step 3: Choose the Type of Account
- On the second page, you need to select the country and PayPal account types. Paypal giving two types of accounts, An account for an Individual account and Businesses account.
- Just select an Individual account or Business account by pressing the button “NEXT”.
- You can change your account type based on your needs.
A. Individual account
This account for shopping, to send and to receive overseas payments online. This is all without sharing your financial information. The individual account is useful to send payments only.
- You can pay the money for your shopping locally and overseas
- You will get the 50% cashback voucher for the first local purchase.
- It gives extra support for your online payments.
B. Business account
The business account is accepting credit and debit cards and to send invoices to your overseas customers. This account needs KYC verification. This account is suitable for small business (personal premier business) to any business type.
- It is suitable for individuals who want to receive payments, sellers, freelancers, and businesses
- You can do business easily with this account with low-cost merchants
- You can operate this account with a business name
- No additional fees for set up the account
- You can generate statements like financial and general reports
- It requires KYC (Know Your Customers) verification to start receiving payments in the local currency
- You can use eBay tools
- You can provide multiple employees with limited access from your account
For this account, you have to choose the options from this account
- Sells Goods to customers
- Sells services to customers
- Exports/sell to other businesses
- Works as an individual freelancer
- On my company website
- Via on Email address/invoicing
- Through seller marketplaces
- Local INR only
- Foreign currencies only
- Both Foreign and Local currencies
After choosing the suitable option, you have to enter the email address to complete the signup process. and confirm your email by click confirmation link which is sent by the PayPal team. Here is the example screenshot to find PayPal’s business account for Freelancers.
To know more details about KYC, check the details here
- PAN Card Verification: Enter the valid PAN number for instant verification. Your name should match the name on your PayPal account.
- Confirm your Email: If you press the send confirmation link button, you will receive the confirmation link. just click the link from your email.
- Add your local bank account: Enter your local bank account details like Name, Mobile number, Account number, IFSC code, etc.
- Select purpose code: Select the purpose code that appropriately describes your business transactions. This is required under Indian regulations.
C. For Shoppers
This is a simple and secure account for online shopping lovers. In this account, they are giving a 50% instant cashback offer on the first local PayPal purchase.
Step 4: Add your Details
Now its time to add personal information in the given form as per your bank account. Do not forget to add your PAN card number (Permanent Account Number). Do not add Your Debit / Credit card information in this form. Uncheck the card details in this form.
Paypal will send a confirmation link to your Email address (Which is given in the above form) to activate your new account.
Step 5: Choose Payment method
After confirming your account just go for the Main page in PayPal. Add your Bank account information from the Payment methods to link your bank account. Before you link your bank account, you have to check your bank is listed or not in the PayPal recommended banks list.
Add the details of the bank account number and IFSC code of the Bank in the “Link Bank details” link
Step 6: Be ready for Paypal verification
Paypal deposits two little amounts in your bank account like Rs.1.10/- and Rs.1.12/- within two to three business days. After these transactions, just open your PayPal account and enter the amount values and confirm it…..FINISH…..
Your PayPal account is ready.
Check the “VERIFIED” letters in your account. Enjoy.
Note: do not advertise your PayPal Details before anyone. That is the key to your online transactions.
After opening your PayPal account, log in to your account by using PayPal account login details. Now you can send the payments by using your debit or credit card.
But to receive payment Your account must be verified with a local bank account. This activation or verification removes the withdrawal limit from your PayPal account.
The received money will be sent to your linked Bank account automatically.
You will receive the money from Paypal to your linked bank account within 2 to 5 business days automatically.
Now you will be receiving payment from overseas by using the PayPal payment system securely.
How to receive money on PayPal?
To receive money on PayPal, you have to create a new PayPal account. Here the registered email ID is your Paypal ID.
You can transfer money from PayPal to your recipients by entering their PayPal registered Email ID.
Another ID is the Paypal account link. The link looks like PayPal.me/yourname.
So you can send and receive money by using these two valid IDs – Paypal Email ID and Paypal user link.
Paypal is one of the oldest and trusted service. it helps you to send and receive payments all overseas.
If you are from Asia or the United States of America, PayPal is the best and secured source to receive payments from overseas.
Most of the advertising services are using the PayPal account. I think this article on How to create a PayPal account to receive money from overseas? is very helpful to create better online payments.