How to Set Up a PayPal Deposit System

If you have an online eBay business or other small business, you can use PayPal to collect payments from customers. PayPal is a money-deposit website that allows you to register and conduct transactions for free. The third party means that you will not directly handle customer's money, which takesstress off of you and also puts your customer at ease.

Instructions

1. Go to PayPal's homepage and register your new account. You can find a link to PayPal's official site by visiting the Resources section. Click on the "Sign Up" link, which you can find at the bottom of the gray sign in-box directly after the sentence "New to PayPal?".

2. Click on the yellow button labeled "Get Started" under the section labeled "Personal." PayPal will send you to an information page where you fill in your name, address, phone number, and your credit card information (optional). Fill out all required information and read through PayPal's user agreement. Then click the yellow button labeled "Agree and Create Account."

3. Click on the small blue link at the bottom of the next page labeled "Go to My Account."

4. Click on the small blue link labeled "Get Verified" on the next page. PayPal will direct you to a new page with two sections. You want to click on the first yellow button in the first section labeled "Link Bank Account." Fill out the required banking information and click the yellow button labeled "Continue." PayPal may take several days to verify your account. Once you are verified, you can begin transferring unlimited payments into your bank account.

5. Deposit money from PayPal into your bank account by clicking on the white "My Account" tab, and then moving your cursor over the blue link labeled "Withdraw." Move your cursor down to the link labeled "Transfer to Bank Account." Enter the amount you wish to deposit and click the yellow button labeled "Continue."

Tips & Warnings

• Are you worried about putting your personal information into PayPal's system? The following information appears on PayPal's website: "PayPal never reveals your bank account information to payment recipients. Only you can initiate transactions involving your bank account. PayPal sends you an email whenever funds are transferred from your account."

References

• PayPal Official Site

Resources

• PayPal Official Site