How to Open a PayPal Account With Money
PayPal is a popular way to purchase goods and services over the Internet. The Web-based PayPal system allows you to pay online or send money to other PayPal accounts. Accounts are often funded through bank accounts or credit cards, but PayPal also has a system that allows you to deposit cash into your account.
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Instructions
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Sign up for a PayPal account on the PayPal website. All that is necessary is your full name, address, email address and telephone number.
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Go to a retail store that offers prepaid cards through the Green Dot system. The system is offered at major retailers like Wal-Mart, Walgreens, CVS and Rite Aid.
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Purchase a Green Dot MoneyPak for the amount of money you want to deposit in your PayPal account. The store will collect the money plus a $4.95 fee for the MoneyPass.
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Log on to your PayPal account using your email address and password.
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Select the Add Funds pull-down menu on the PayPal My Account page. The last item is "Add Funds from Money Pack." Click on that menu item. You will go to a Green Dot-MoneyPack PayPal page.
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Enter your MoneyPack number and the security code on the web page to deposit the MoneyPack funds into your PayPal account. Wal-Mart MoneyPack purchases have the activation code on the receipt.
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Tips & Warnings
You can deposit up to $500 with a single MoneyPack. Wal-Mart has a $1,100 limit.
PayPal limits MoneyPack use to $250 per year unless you provide your date of birth and Social Security number, which will be verified by Green Dot. After verification, you can use MoneyPack to deposit up to $2,000 per month.
Treat your MoneyPack like cash until it is deposited into your PayPal account.
References
- Photo Credit Cash image by Greg Carpenter from Fotolia.com
