PayPal is quickly catching up to become the world’s best payment system. Creating a new PayPal account makes sending and receiving payments over the Internet effortless.
This guide to setting up a PayPal account is essential for anyone who is new to the service and wants to get started. As a result, stick with us as we walk you through how to set up a PayPal account if you’ve never done so before.
What is PayPal?
It is an American corporation that manages a global payment system. So, in a nutshell, PayPal is a payment method in which you create an account and use it to receive or spend money over the internet.
It is an online payment system with headquarters in the United States that is used in the majority of countries. They employ a variety of technological innovations and strategies in order to provide a powerful and secure online transaction platform.
One requirement for obtaining a PayPal account is that you have a bank account. If you don’t have a bank account, you should at least have a credit card.
To open a PayPal account, you’ll need one of these three items: a bank account, a credit card, or a debit card. If you want to sell on sites like eBay, Swappa, and others, you can use PayPal as a merchant account.
They simplify payment for you, for example, if you register as a seller, they will handle the refund and other transaction fees.
How To Create A PayPal Account
Let’s start with getting a PayPal account and then discuss its features later, if necessary. To begin, you must first go to the official PayPal.com website. The signup button can be found in the top right corner of the PayPal.com website.
When you click the Sign-Up button, you’ll be asked whether you want to create a personal or business account. Select Personal Account or Business Account if you are a seller on eBay and other online marketplaces.
However, if you are an individual looking to set up a personal account solely for the purpose of transferring and receiving money over the Internet, Personal Account is the best option.
After that, you must enter your information, such as your email address, in order to register for a PayPal account.
Please keep in mind that your email address will be the primary identifier for payments. As a result, double-check that the email address you’re using is correct and valid.
Then enter your phone number, first and last names, as well as your password. Then you will receive a code on your phone, which is the OTP (One Time Password), which you must enter and you will be registered.
The OTP method is used to ensure that the mobile number you provided is correct and that you are not impersonating it with a random phone number.
After that, you must confirm your email address by responding to an email sent by PayPal. Which you will be watching for a link that will verify your email address. When you click on that link, your email address will be verified, and PayPal will notify you.
After you’ve verified your phone number and email address. The next step is to link your PayPal account to your bank account, credit card, or debit card. The option to link your bank is visible on the Dashboard.
Select Link Your Bank and proceed through the setup steps. You have the option of selecting a bank account from one of your countries.
So, if you’re from the United States, you’ll see Chase, Bank of America, and so on; if you’re from India, you’ll see SBI, Axis Bank, ICICI Bank, and so on.
Select your bank and then fill in the blanks with your information, such as your account number, IFSC code, and so on. After you’ve entered all of your information, PayPal will make two small transactions in your account.
In other words, they will deposit a small amount of money in your account in a week, and then you must enter the exact amount that PayPal has deposited to confirm your Bank Account.
Debit and credit cards follow the same procedure. However, if there are no transactions on your credit card, it will be automatically linked using the OTP method.
To easily add your card to your account, fill in the information requested above. Make sure the billing address is correct, as billing address errors are the most common cause of card-linking issues.
So, once you’ve linked either a bank account or a debit or credit card, you’ll be able to use PayPal from anywhere in the world.
That’s all I have to say about it. If you have any questions or are stuck somewhere, please ask in the comments section and I’ll do my best to help you out.
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