How to Set Up a PayPal Business Account

Do you conduct business online? Are you concerned about giving out all of your business financial information over the Internet repeatedly? Are you losing customers because you don’t accept credit cards or PayPal?

If you answered “Yes” to any (or all) of these questions, you should set up a PayPal Business Account. PayPal provides businesses a fast and easy way to take care of all of your business financial needs. Your business can allow customers from all over the globe to send money and even use credit cards securely.

Difficulty: Easy

Instructions

1. Before you go online, make sure you have all of your business and financial information available. You will be required to supply the following for your business: account name (or owner name), address, customer service information, email, bank name, bank account and routing number.

2. Go online to PayPal Account Registration.

3. Select the Country (or region) of your business from the drop down box provided.

4. Select the Language preference of your business from the drop down box provided.

5. Below the drop down boxes are the three PayPal Accounts, which are Personal, Premier and Business. Select the “Start Now” button located under the Business Account.

6. Select the type of payment solution you prefer for your business from the drop down box. If you are not sure which to choose, select “I don’t know”. Answer the questions provided on the Find Your Payment Solution page. When you have finished click the “Continue” button.

7. An account will be recommended for you from the answers you provided. You can also view the other accounts available. Select the account you would like to open. Click the “Continue” button.

8. Select the “Go” button on the page that opens, which shows the three-step process that is needed to set up your business account.

9. Fill in the required information pertaining to your business. Click the “Continue” button. You will have to repeat this process, until all of the information required has been submitted. It will vary, depending on the services needed.

10. Once you have verified your financial information, you will have complete access to all PayPal business options. This usually takes from three to five business days.

Tips & Warnings

• If you already have a PayPal personal account, you can still open a separate business one. You will have to use different email addresses and financial information, but you can have two PayPal accounts.
• Another nice feature of a business account is the capability of “Multi-User Access," which allows access to the account to more than one individual.
• PayPal does not charge you to send money with your Business account, but it does to receive money.

Resources

• PayPal Account Registration

[ampersand]

on 7/7/2009 Really good to know; thanks!

[MidniteWriter]

on 2/20/2008 Good to know, thank you. I did not know about the multi user access. Great information here.