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. scroll down and click where it says: “sign up today”
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.
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