PayPal is one of the most popular online payment systems that lets you shop online or receive payments from people without having to re-enter your information for every transaction.
Once you link and verify your bank account with PayPal, you can change the setting for every deposits made in the PayPal account to be automatically transferred in your bank account.
Creating an individual or business account at PayPal is free. You can easily set up a PayPal account and start using it in a matter of minutes. Anyone can create a PayPal account with these simple steps.
The first thing you will do is go to the official PayPal Homepage here. Then you will see a ‘Sign Up For Free’ in the middle of the page and another ‘Sign Up’ button on the top right corner as seen below. You can sign up from either one of the two buttons.
Note: The homepage of PayPal may differ according to the countries. Do not be confused if your homepage shows something different. The layout is all the same. The main difference is in the images.
When you clicked on the sign-up button you will see two options for creating your account – personal and business account.
Let’s see the difference between the two accounts.
PayPal Personal Account
The PayPal personal account allows you to make safe, secure online payments, as well as send money and accept payments. This account is ideal for those who shop or sell online. The personal PayPal account allows you to link your checking account to your PayPal account for easy money transfers and payment options.
There is no charge for the personal PayPal account and the PayPal account is accepted at more than 1,000 online stores.
However, with the Indian PayPal Individual Account, you will be able to send payments only. If you want to receive payments too, you will need to create a PayPal Business Account.
PayPal Business Account
The PayPal business account is ideal for online merchants, as well as other business entities. The account gives business owners the option of accepting payments without the excess credit card processing expenses.
Along with the payment processing options, the PayPal business account provides its merchants with online invoicing options and virtual terminal processing, which allows you to process your customer payments online, as well as by phone, mail, or fax.
This account also provides options for express payments, allowing your customers to quickly check out with their PayPal account without providing personal information.
Let’s talk about how to create an Individual / Personal PayPal Account first.
Setting Up A PayPal Individual / Personal Account
When you select the Personal Account type, it will take you to a form where you need to enter your phone number first. After you choose your country from the top left corner where the flag is shown, enter your mobile number next to the country code and press the next button.
PayPal will then send you a confirmation code on your mobile phone which you have to enter to confirm it.
Once you enter the code sent to you and confirm your phone number, it will then ask you to enter your email address and create your password.
Make sure you enter a valid email address and you will need to confirm it to activate it and not only that any future transactions and activities will be notified to you in that email. Create a strong password that is unique. Then click on the Next button.
You need to fill in your personal information starting from your name, address, country, and tick on the ‘I Agree’ and ‘User Agreement and Privacy Statement’ then press the ‘Agree and Create Account’ button.
You can also tick the ‘One TouchTM’ option and activate it which will allow you to skip logging in with your email and password when you use PayPal on your mobile phone, desktop, laptop, or tablet.
Once you press the ‘Agree and Create Account’ button, a page in which you can enter your financial details will open.
All you have to do is fill in your card details and press the ‘Link Card’ button. And your card will be added.
You can also add your banking details which we will talk about it later.
Setting Up A PayPal Business Account
The process of creating a Business Account in PayPal is a bit longer than the individual account as you need to enter more details about your business or the business you are planning to start apart from your personal information like name, address, country, etc.
Now, once you select the business account, you will be prompted to enter your email address and password. Enter the correct email address and you will need to verify it for activation. PayPal will also send you transactions and activity details whenever any activity takes place.
Now, once you created your password and press on the continue button, you will see an option that asks you ‘Are you selling yet?’.
Regardless of you selecting the ‘Yes’ or ‘No’ option, a dropdown to choose your interest will appear. You can also select ‘ No Website Yet’ at the bottom and continue.
Then another form will appear in which you must enter your name, address, detail of your business, etc. Click on the ‘Agree and Create Account’ button.
Linking Your Bank Account With PayPal
You need to fill in your card details or your bank details so that you can receive or give payments.
To start linking a new bank account, look for Wallet on the top bar, which brings you to an overview of your current PayPal balance, as well as linked credit or debit cards. Simply click on Link a bank account to start the process.
Once you entered your bank account, you will need to activate your banking details so that you can make payments as well as receive payments.
The deposits should appear in your bank account in 4 to 6 business days. You can review your bank statement or contact your bank to find out the exact amounts of these deposits.
To complete the confirmation process online:
- Go to the PayPal Wallet.
- Click Ready to confirm on the bank account that you’re going to confirm.
- Enter the exact amounts of the 2 deposits. For example, if the amounts you received are 1.12 and 1.07, enter 1.12 and 1.07.
- Click Confirm.
- If the amounts are entered incorrectly 3 times, your bank account will be disabled and removed from your PayPal account.
Linking A Debit Or Credit Card With PayPal
You can add a Visa, Mastercard, American Express, Discover, or UnionPay card to your PayPal account. The card must be issued in Singapore and under your own name. Here’s how to add your card:
- Go to the wallet section.
- Click Link a debit or credit card.
- Enter your card information, and click Link Card.
After the card is linked to your PayPal account, you can confirm this card.
- When you add a card, you may be notified of a 1.6 SGD charge to your card. The charge on your card is temporary to confirm if your card is ready to use with PayPal. It usually takes a few minutes to receive the refund back to your card, but it can take up to 30 days depending on your card issuer.
- If your card is eligible for an automatic update with PayPal, we may update the card information on your behalf when a new card is issued to replace the existing card linked to your PayPal account. Any billing agreement and payment preferences associated with this existing card will be migrated to your new card.
How To Remove Your Card Details In PayPal
- Go to the wallet section.
- Click on the card you want to remove.
- Click Remove card.
- Click Remove This Card to confirm the action.
Here are a few things you should keep in mind:
- If your card is eligible for an automatic update with PayPal, Paypal may remove a card on your behalf if it becomes unusable or has been closed.
- If a payment you made with the card is refunded after the card is removed, the refund will still be credited back to the card.
- You may not be able to remove your card if you have a negative balance in your PayPal account. In this situation, you must bring your balance to zero or higher to remove your card.
- If you remove a card that is the only funding source for a subscription or recurring payment on your account, the subscription will be automatically canceled.
- Enter or choose another card as the new funding source before you remove the card.
Activating Your PayPal Account
To be able to use your PayPal account you need to activate your account. All you need to do is check your email and click on the activation link sent to you by PayPal.
NOTE: If you didn’t find the mail in your inbox, check out the promotional emails. You will find it in there!
You can log in to your PayPal account and change the payment options or do any change as you want later on.
If you haven’t created your account yet, Sign Up at PayPal here.
DISCLOSURE: This post may contain affiliate links, meaning I will get a small commission if you make a purchase through my links, at no cost to you. For more info, please read my Affiliate Disclaimer.
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MLian’s passion for writing is to help you understand that ‘All That Glitters Is Not Gold’. Her mission is to show you Practical and Actionable Ways To Earn Money online and offline to save your time and money – that you won’t get “SCAMMED” into buying something that promises Big but really doesn’t profit anyone except the owners.