How do open a paypal account

This content is powered by HomeInsurance. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions such as approval for coverage, premiums, commissions and fees and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. PayPal dominates the digital payment scene.

It has upwards of million active users in more than countries and facilitated four billion payment transactions in Q3 of alone. Since , PayPal has been giving consumers alternative ways to make purchases and send and receive money online. PayPal lets you pay for things online with a bank account instead of a credit card and keeps your payment information hidden from merchants. It also makes sending money easy and, in most cases, free. PayPal has essentially made checks and costly wire transfer services obsolete.

Decades since its founding, PayPal remains a top choice for online shopping and money transfers. PayPal is an online payment system that makes paying for things online and sending and receiving money safe and secure. When you link your bank account , credit card or debit card to your PayPal account, you can use PayPal to make purchases online with participating stores.

PayPal serves as a middleman between your bank and merchants and keeps your payment information secure. You can also use PayPal to securely send money to friends and family as well as receive money from people.

This feature is useful for splitting rent with roommates, for example, or receiving money for your birthday.

Just like a traditional credit card, PayPal Credit lets you defer payments. When you use your debit or credit card to pay for things online, merchants can sometimes access your payment information.

PayPal provides an extra layer of protection by ensuring that merchants never see your sensitive data. PayPal also uses a number of features to keep accounts secure , including end-to-end data encryption , optional two-factor account logins and email confirmations for transactions. PayPal is now the fifth most accepted payment option after Visa, Mastercard, American Express and Discover and is available at millions of stores online. You can use PayPal to make a payment via cards that are linked to your account, without having to retype your card numbers.

All you need to do to make a purchase via PayPal is memorize or save your PayPal login information. Creating a PayPal account is free and online purchases and most personal transactions are also free. PayPal does, however, charge fees for certain types of transactions. There is a 3 percent or 4 percent foreign transaction fee for purchases made in a foreign currency. Here's how to do it. On the following screen, choose whether you're setting up a business or personal account. If you're simply using this to buy and sell on eBay for instance, or to send money to a family member or friend, you'll want to choose "personal" here.

Click "Next. On the next page, you'll be asked to enter your legal first and last name and your email address as well as to create and confirm a password. When finished, click "Next. Next, you'll need to enter your mailing address as well as your phone number. When you've completed this information, which is mandatory, click "Agree and create account" and your PayPal account will be created.

To do so, log into your account and then follow these directions. Read also: Venmo vs. PayPal: Key differences, advantages, and disadvantages. The other type of PayPal account is specifically for businesses. Choose this option if you want to sell products online and accept debit and credit card payments for a small fee.

Business accounts also allow up to employees to access the account, and they offer some other unique benefits. Now choose the account type you want: Personal Account or Business Account.

Pick Next when done. Hit Continue and then fill out the second form by selecting your nationality and typing in your address , and any other required info. To start using PayPal, you need to add your debit, credit card, or bank account. This will link your account to a bank account so you can deposit or withdraw money. This is technically optional, but without it, your account will be severely limited. The last step in this process is to verify your email address by clicking the link in the email sent to you.

For safety reasons, you will need to verify your PayPal account before you start using your funds. This is needed so that when you go to add funds you will not have to ever enter it again. A screen may pop up such as the one below stating that your account is now set up and ready to use. At this time, you can go to your account if you choose. Lastly, be sure to check your email you used to sign up for PayPal.