I use a Paypal account for all my online invoicing and payments. Paypal is secure, reliable and most important of all – easy to use.
How to set up a Paypal account for your business:
1. print out these instructions
2. click here to Set Up Paypal Account
3. click the button that says: “Start Now”
4. select your country and language
5. choose type of account. Personal accounts don’t let you accept credit card payments from customers, so you should choose Premier or Business.
Note: The only difference between Premier and Business is that the Business Paypal account allows you to set up the account under your company name. Both types of accounts will allow you to accept credit card payments from your customers. In order to get a Paypal Business account you need to have a company bank account and wait for your Paypal account to be approved. If you don’t yet have a company bank account, you can set your account to “Premier” to get started and then upgrade it to “Business” later.
6. This step will be slightly different depending on whether you selected “Business Account” or “Premier Account” in step 5.
a) if you selected “Business Account” in step 5, do this:
- click “select Payment solution” to view the drop-down menu
- from the drop-down menu, choose “Website Payments Standard”
- click “Account SignUp”
- click “continue”
b) if you selected “Premier Account” in step 5, do this:
- fill in all fields with your name and other info
- click “agree”
- click “create account”
7. Congratulations, you’ve completed the main part of the set up procedure. You will now have to wait a couple of days to have your account verified, and then you will be good to go!
After your account is verified you can pay someone by Paypal, or request payment (send an invoice) just by going to www.paypal.com and logging in to your account. You login to your account using the email address and password that you signed up with. It’s very obvious how to do it.
If you have questions, Paypal’s customer service phone number is 1-402-935-2017for existing customers, and 1-402-935-2050 for new customers (U.S. telephone numbers).
The above article is intended as general information only and should not be construed as financial or legal advice.
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Barbra,
I believe by doing that, your bank account would see the name of the Business that you enter instead of your real name. I don’t know about PayPal but I think this might cause problems with the bank.
Regards.
I think Signing Up with Business name is Premier Account will still require Bank Account with Business Name to process funds in Bank via wire transfer.
I am now three days into setting up a business account. This post severely over simplifies the process. Verification alone takes multiple days. The idea of being able to accept credit cards in minutes is a complete mis representation of what this service can do.
We set up a micro business account with pay pal this week. We will be having a song on a website that can be downloaded for 99 cents. Can you tell us what we do about taxes? Do we have to charge sales tax? If so, how do you know what to charge when we plan to market this across the nation? Which state is it paid to? Also, what about Federal Tax? Do you turn in the Form to the internal revenue showing any earnings or do we do that? Do you know the name of the form? Also, is it done quarterly or annually? Do you know who to contact to answer these questions if you do not know the answer?
Thanks for your help, Donna Hoover
Hi Donna, I’m not a tax expert but there is some good information at this link. Congratulations on your new online business!
Fast Eddie: Thanks for pointing out about the verification process. I’ve now added that information in step 7.
Naif and Max: Thanks for your input. I’ve changed the information about the Premier account.
can i send and receive money on a pay pal account without using a credit card? If so, how? I do not own a credit card at present.
How do you go about getting an EIN number? I believe that is required for a business account. $7 offers requires a business paypal account so I want to get one, but the EIN has slowed me down.
I am interested in pay pal for business. I will be selling apparel so I am in need of a drop down menu for sizes. Will I be able to achieve this with the Premier account or will I be needing the Business account?
Steve, you can have a drop-down list of sizes or colors or etc. with a Premier account.
Mary, yes you can send and receive money using a Paypal account without using a credit card. It’s very simple. To receive money, just ask people to go to Paypal and click “Send money” and then type in the $ amount along with the email address associated with your Paypal account (i.e. the email address that you used to sign up to Paypal). If they have a Paypal account they can have the money taken out of Paypal. If they don’t have a Paypal account they can use an echeque (the money comes out of their bank account) or a credit card. You can do the same process when you want to send money to someone.
I need PayPal business account, please how can i get it verified by paypal
Hello,
I’m currently setting up a small badge making site (1 inch button badges) and I have set up a business account on paypal. I was doing my first full payment and paypal charged me in 0.55 Euro on a 6 Euro transaction……this is totally crazy. I tried to find out why I was charged such a crazy fee but it’s almost impossible to find this info.
Shouldn’t the fees be around 3% and not in excess of 8%? Anyone have any advice on this as I can’t sell my little badges when they will be taking such high fees from every transaction.
@ Mark
Hi ,
read this pdf by paypal : https://merchant.paypal.com/cms_content/US/en_US/files/merchant/pp_mpr_datasheet_wps_r4.pdf
Acording to paypal : ” The pricing (3% fee) applies to domestic payments in US dollars. There’s an additional 2.5% charge for any currency conversion and a 1% charge to receive payments from another country ” .
Yes it is crazy
This my frist time looking in to useing paypal for online payment service, and would like to learn more about it. if you could please, send me more info about what the service can offer in security, reliabuilty, price and rules. please send it to my e-mail thank you.
Nice and clear, thank you. Isn’t it funny that Paypal does a lesser job of explaining itself than some outsiders do?
Really don’t know why paypal hang up peoples money and refuse to release it is that not wickedness, am never going to use it never
My fiancee was looking for a business investment and found one to buy while on vacation in the Dominican Republic for the amount of $15,000. My question to you is what now? How does he now turn this investment into a online business? What does he have to do to make sure its legal in and under the USA laws? Last but not least what does he have to do to make sure everyone who is supposed to get paid gets paid (IRS)? Im sorry if this sounds like a lot but he’s so lost as to whats next. I have some knowledge but not eough to trust my judgement without some help. I came across your website almost by accident and read some of your advice to others and thought why not? I will appreciate any assistance or even a point in the right direction. I am so thanking you in advance…
Hi Lisa,
Your question is beyond the scope of my expertise. I would suggest you contact a lawyer who advises on international business. I know it’s expensive to go to a lawyer, but it might save you even more expensive headaches in the long run. Good luck!
Thanks for the compliment Ambrose. Glad to hear you found the instructions helpful.
I created an advertise in clasificados on line an a customer is interested, she wants to make the payment with paypal. I need to know how it function
Mary Natal
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