How to Set Up a PayPal Business Account: 8 Steps
PayPal is a popular way to receive payment for selling different types of products or services. It’s simple to use, completely secure and there are no setup fees. And even though you can still send and receive money with a personal PayPal account, using a business account brings some extra benefits.
There are a ton of payment and eCommerce integration options, like taking credit card payments or using mobile payment apps. PayPal also has excellent customer support and a resolution center. This lets you quickly fix any checkout issues or discuss alternate payment processing options.
You can also handle international transactions, block payments and generate billing information. PayPal business accounts have extra features and payment options that personal accounts don’t have. Here is everything you need to know to set up a PayPal business account.
Here’s What We’ll Cover:
Types of PayPal Business Accounts
As a business owner, there are two main accounts you can choose from when it comes to using PayPal For Business.
The first is the PayPal Payments Standard. This is a basic business account and you’re not charged any monthly fees. You can take all the payment methods that are accepted by PayPal. It also includes features like phone support and compliance functionality.
The PayPal Payments Standard would be a perfect option if you’re just getting started with selling a product or service.
The second is PayPal Payments Pro. This takes all of the features of the Standard account and adds extras like being able to accept payments over the phone or through fax.
There is a monthly maintenance fee with the PayPal Payments Pro account of $30.
How to Set Up a PayPal Business Account in 8 Steps
It’s free to sign up for a business account and you can complete the registration process in only a few minutes. Once you confirm your email address and business information and link your bank account details, you’re ready to accept your first sale.
Here are the 8 simple steps to take to set up your own PayPal business account.
- If you don’t already have an account with PayPal, the first thing you need to do is head to their website and sign up for an account.
- Now you will be presented with the choice between opening a personal account or a business account. Click the check box next to where it says Business Account and then click Next.
- Enter your email address and continue. You will next be asked to create a password for your account. Once you have done that, you can click Continue again.
- Next, PayPal wants to find out some information about your business. You will get asked to enter your first and last name, your business name and your business address. If you’re a sole proprietor, you can enter the relevant information it asks for. This could include your social security number, for example.
- If you have a business or eCommerce website that you operate, you can include those details as well and then click Continue.
- PayPal wants to make sure that it’s actually you who is opening a business account with your business information. They are going to ask for some additional personal information. The information that you provide will be used to verify your identity.
- Once you have entered your personal and business information, PayPal will send a confirmation link to your email.
- Then, once you confirm your email address and any other information, your business account is ready to use. You can now start to take payments and integrate some additional services or features if needed.
PayPal is one of the most popular payment platforms out there. It’s incredibly simple to sign up and using the platform doesn’t get much easier. But you have decided that you want to open a PayPal Business account to take your company to the next level.
The first thing you should do is compare the differences between the two types of business accounts that you can open.
If you only need basic business processes, then the PayPal Payments Standard account will provide everything you need. But if you need additional features or services, then the PayPal Payments Pro account might suit your needs better. Just keep in mind that the Pro account has a $30 maintenance fee.
You now have all of the information that you need to open up a PayPal Business account. Just follow the 8 steps outlined above and you can start taking payments as soon as possible.
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