Since we have entered a digital world, the world has come a lot closer. People are hiring workers from all around the world and services are being provided across the globe. Thus, there is a worldwide cash flow. Since it is not always possible to use the traditional paper methods like cheques and money orders, many financial services such as PayPal have been developed which support online money transfers and can be used as an electronic alternative to transfer money from any part of the world to another.
However, one cannot just start using PayPal. There are some steps which have to be followed. The initial being setting up an account on PayPal. Though the method is quite simple, some people find it tricky and resort for a guide. Thus, here we are about to discuss the steps which you have to execute to set up your PayPal account and start transferring and receiving money from any part of the world!
Note: For info about getting PayPal account number check this guide about PayPal account number.
Some information of PayPal include:
1. It is an American company which operates worldwide online payment.
2. It was fined in the year 1998.
3. The services provided by it are not free of cost. The cost depends on the type of account which has been created.
How to Setup a PayPal account?
Part 1: Creating your PayPal Account.
Step 1- You can access PayPal by either visiting its website or through is smartphone application. Either of these options can be chosen since the method remains almost the same.
Step 2- From the homepage, click on ‘Sign Up‘ option. This marks the beginning of setting up of your PayPal account.
Step 3- You will now see some empty fields on your screen. Enter a valid email id and create a new password for your PayPal account. Make sure that your password is strong enough and can be easily remembered by you. Once you have entered all the information, click on ‘Continue.’
Step 4- On the new page, you will be asked to enter all your personal details such as your full name, address, zip code, etc.
Step 5- After all your details are entered, you will be asked to enter either your credit/debit card details or link your bank account to PayPal. Thus, keep your bank details in hand while setting up your PayPal account.
Part 2: Verifying your PayPal account.
Step 1- Open your email id, where you will notice an email for PayPal. In this email, you will find ‘Yes, this is my email‘ option, which you need to click to verify your email id.
If you do not find this email, check if you have entered your correct email id, check the ‘spam‘ folder or request for a new email from PayPal.
Step 2- If you skipped linking your credit/debit card or your bank account to PayPal in the first part, you can still do it in this step. Without linking any of this information, you will not be able to transfer or receive money from or to your account.
Once you have entered all the information correctly, PayPal will take a day or two to verify your bank details. For even better verification, an amount of approximately $1 will be sent to your account which will later to deducted too!
This is all you need to know about PayPal and how to set up an account on it! The steps are quite simple, all you need to do is enter all the details carefully.
If you have any queries regarding the methods and the steps listed above or if you know of any better method, then please let us know about it in the comments section below.