PayPal is the most famous online payments system. It allows you to transfer money, receive funds and do shopping online. Thus, it is used by both merchants and consumers. It was founded by Elon Musk in 1999. Elon musk wanted to revolutionize the online payment systems. Thus, he created PayPal.
If you are a beginner, then you must first create a PayPal account. It will help you to do online payments easily. Also, you don’t need to provide information about credit card or bank to other merchants. PayPal is one of the most secure payment systems. You don’t need to worry about your account getting hacked or your data getting leaked.
Currently, there are 250 million PayPal users. This number is growing by 17% every year. Thus, it is pretty evident that everyone loves PayPal.
There are many benefits to having a PayPal account. But, to avail all these benefits you must create a PayPal account first. After that, you should get your linked bank account verified. You can use your verified PayPal account to shop on various websites.
If you are a merchant, then you can integrate PayPal as a payment option. Thus, you will receive funds in minutes without doing any formalities. Also, PayPal will give you many benefits like cash back offers.
First, we will talk about how to create a PayPal account. It is very easy to create a new PayPal account. All you need to do is follow some simple steps.
First, you should register for a new PayPal Account. There are two types of PayPal accounts: a personal account and a business account. You can register for any type of account.
Let’s understand the working of PayPal. PayPal is an online payment system which is connected to your bank account or Credit card. Thus, PayPal is indirectly depended on your bank account. You can’t use your PayPal account without linking your bank account.
You can withdraw your PayPal funds to your bank account. Thus, PayPal acts as a savior for freelancers who work with international clients. It is not possible for international clients to send money directly to bank accounts. If you want to shop online, then you can add funds to your PayPal account. This is also possible only when you have linked your credit card or bank account. Thus, PayPal users can easily do shopping online.
You can also link your PayPal account to multiple bank accounts or credit cards. In such cases, PayPal will ask you the desired bank account or credit card when you are shopping online. This makes it easier for people to manage multiple bank accounts. You can link one bank account for receiving funds and another for shopping online.
There are many more benefits of using PayPal. You will get various cashback offers if you are doing payment from a PayPal account. Thus, it is very important for you to get a free PayPal account. You can use your PayPal account to receive funds from clients also. For example, if you are working as a freelancer in Fiverr, then PayPal is mandatory. Fiverr send funds directly to your PayPal account. Similarly, other websites like Clickbank and Upwork also follow the same procedure.
There are two different types of accounts: business and personal. Before signing up for a new account, you must understand the difference between a business account and a personal account. Both types of accounts have a different purpose, usage, and targeted audience.
PayPal has currently more than 250 million active users. Thus, it is one of the largest online payment systems. PayPal is targeted towards users who want to do payments online.
PayPal personal accounts are very secure. Thus, you can do online payments more securely. Also, you can do instant transactions. If you are applying for a personal account, then you will get reward points. These reward points can be redeemed as PayPal gift cards.
You can easily create a new PayPal account. Thus, most people prefer PayPal. You don’t need to know many technical details before signing up for a new account. Also, there is no transaction fee in a personal account. Also, security is a major concern in online transactions. PayPal is the most secure online payment system. Hence, many users prefer PayPal as their primary payment option. Almost all the e-commerce websites have integrated Paypal in their payment gateway.
Follow the below steps to get free PayPal personal account.
• Open Paypal.com in your browser.
• Click on “Sign up for a personal account”.
• Now, enter all the required information like email, password, country, and currency for your PayPal account.
• Now, you need to enter your personal information like name, address, bank account details, and other important details. You also need to upload your ID number and provide some other proofs. This is required to make sure that a real person is registering on their website.
Business PayPal account is mainly targeted towards business owners or merchants. They can use PayPal to receive payments only. But, you can’t send payments using a Business PayPal account.
There are many benefits of using a free Business PayPal account. You can accept payments from both credit and debit cards. Also, there is no monthly fee on your transactions. Most consumers have started using PayPal. Hence, it has become compulsory for business users to integrate PayPal in their payment system.
Also, PayPal payment system is very fast. You will get online invoices with every transaction. Follow the below steps to get free PayPal business account.
• Open Paypal.com in your browser.
• Click on “Sign up for a business account”.
• You will get two options on the next page: PayPal Payment Pro and PayPal Payment Standard. PayPal Payment Standard is free. But, you need to pay $35/month for PayPal Payment Pro account.
• Now, enter all the required information like your email address and password. Also, you need to provide your business and personal information.
• Just click on “Continue” and your account will be ready to use.
It is very important to link your Bank Account to PayPal Account. You won’t get full benefits of PayPal until your account is linked to a bank account. It is also mandatory for both personal and business account.
The money you received can be transferred to this bank account. Thus, you can use it for the offline purpose also. Also, money will be deducted from your bank account when you are shopping online. Thus, it is mandatory to link your Bank account to a PayPal account.
Follow below steps to link your bank account with PayPal account.
• First, login into your PayPal account.
• Now, go to the Profile section of your PayPal account and click on “Add Bank Account”.
• Select your bank account type on the next page. Also, enter your Bank account number and other required details.
• Sometimes you need to enter 9-digit routing number also. It can be found on your bank checkbook. Now, your bank account is successfully linked with your PayPal account.
But, you still can’t do transactions because your account is not yet verified. PayPal will send you 1-2 cents in next few days. You need to enter the amount you received in your PayPal account. Once you enter the amount you received, your PayPal account will get verified. Now, you can use your PayPal account for transactions.
It is mandatory to link and verify your bank account. You can also link your debit or credit card with your PayPal account. Thus, you can use your credit card for shopping online securely.
Make sure you link your PayPal account with your bank account. It will make your PayPal experience smoother. Also, PayPal is very secure. Thus, you don’t need to worry about your personal or bank information.
PayPal is currently growing at a fast rate. Hence, it is the perfect time to sign up for a new PayPal account. Almost all of the e-commerce websites are going to accept only PayPal in the future.
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As you have already seen, creating a PayPal account is very easy. Also, it is completely free until you are going for PayPal Pro. You can perform secure transactions using PayPal.
You can also add different bank accounts in your PayPal account. Thus, you can use one bank account to receive payments and another account to send payments. This will make your life easier.
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