How to set up PayPal? How to verify an account? If someone needs to send you money — or if you’re receiving payments for your business — you may be wondering how to set up a PayPal account to receive money conveniently.
This guide covers creating a PayPal account for personal or business use online, as well as how to set up a PayPal account to receive money using the app.
Because PayPal isn’t always the cheapest option to get paid from overseas, we’ll also touch on how a Wise Account could help you receive money fast, for low fees and with one of the fairest exchange rates available.
How to set up PayPal?
Getting a personal PayPal account set up to receive money is easier than you think. And if you’re wondering how long it takes to set up a PayPal account to receive money, the good news is that the entire process outlined below only takes a few minutes, and you can get paid straight away after that.
Whether you’re signing up for a new account for future use, or you’ve received an email from a friend saying they’ve sent you a PayPal payment, you’ll need to take the same basic steps. Here’s what to do.
Register a PayPal personal account
The first step to take will be to sign up for PayPal online or in the PayPal app — we’ll look at the app options in more detail a little later.
If someone has sent you a payment on PayPal, they’ll be provided with a link they can send you directly to confirm the money is there, and prompt you to create a PayPal account.
You can either click this link — as long as you trust the sender — or simply open a new browser page and search for PayPal directly.
Here’s how to register online with PayPal:
- Open the PayPal desktop site, or click the link in the email you’ve received confirming a pending PayPal payment
- Click Sign up for a PayPal account
- Choose Personal when asked what account type you want, and click Get Started
- Enter your personal information and create a password, following the prompts, and click Continue
- Follow the instructions to complete your account sign-up — we’ll look at how to add and confirm your required details next
Add and confirm your phone number
Once you’ve registered your account, you still need to add a few details so you can receive money to your PayPal account. First, your phone number:
- Log into your PayPal account and select Settings
- Look for Phone Numbers then Add New
- Enter the phone number, select the phone type, then click Add phone number
- Complete the verification step to prove the phone number is really yours
When you’ve added a phone number to your PayPal account you’ll need to complete a security step to verify the phone. This ensures a stranger can’t add their own phone to your account, and proves you have access to the phone you’re using.
To validate your phone number either choose to receive a code by text, which you can then enter into your PayPal account, or have PayPal call you to confirm.
Confirm your email address
One last step, and you’re ready to receive money on PayPal. When you created your account you’ll have been prompted to enter your email address.
Now you need to confirm the address for security reasons. As with your phone number, this proves you have access to the email, so your account can’t be used fraudulently.
Here’s what to do:
- Check your email for a message from PayPal, and click the link once you receive it
- You’ll be sent to a page to enter your PayPal password to show the account is yours
- Enter your password, click Confirm and you’re done
How to add a bank account or credit card to your PayPal account
In order to make use of PayPal’s ability to send and receive money, you’ll need to connect a bank account and/or credit card to your account. To do so, log into your account and then follow these directions.
- On the summary screen, click the “Wallet” option in the menu bar running along the top of the screen.
- On the menu running down the left side of the screen, click the “Link a credit or debit card” if that’s what you’d like to use with your account. Alternately, if you want to connect your bank account itself, click on the “Link a bank account option.” Note that it may be worthwhile to do both to create a source of backup funding in future.
- Enter the card or bank information you wish to link to your PayPal account and click “Link card” for debit cards or “Link bank account” if you’re using that option.
Note that if you’re adding a bank account, it will take two to three days for the process to complete as PayPal will deposit small amounts into your account that you will have to enter via the PayPal website to confirm you own the account.
How to verify an account
You will need to verify your PayPal account for safety reasons before you start using your funds. Users can do this by linking a bank account or credit/debit card.
How to verify a PayPal account:
- Go to PayPal.com and log into your account.
- Click on the Wallet tab.
- Select the bank account or card you want to verify. If you don’t have one, select Link a card or bank.
- Pick between Link debit or credit card and Link a bank account.
- Add all the information. Some banks and cards allow you to verify using the app or web. If you manually add the card or bank account, you’ll need to verify two deposits.
- Check your bank account or credit card activity for a deposit.
- Confirm your account using the 4-digit code (for cards) or two deposit amounts (for bank accounts).
You can also add a bank account manually, which is more or less the same as with cards, with the most significant exception being that PayPal will make two deposits to your bank account in random amounts between $0.01 and $0.99. Once that happens, you must enter these two amounts to verify your bank account, the same as you entered the four-digit code to confirm your credit card. And to answer your next question, no, you will not be able to keep the money deposited — sorry about that.
If you want to add another card, prepaid gift card, or bank account to your PayPal account later, you’ll also have to verify that. Another thing to note is that PayPal can request a form of identification from you at any given time. This often happens once a certain amount of money passes through your account. It varies depending on your country, but it’s mostly a way to avoid fraud and tax evasion.
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