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How to Create a Paypal Business Account

2.6K Views     Jul 13, 2019

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Description

Paypal Business account is a great way to accept payments on your website.  Unlike Paypal personal account, the business account gives you a lot more functionality.

In this video, I'll walk you through creating a business account on Paypal for the first time. 

It doesn't matter if you have a business account or personal paypal account already.  This can be done multiple times with different business and personal identities.

Thank you for watching this video! Please share and subscribe for more easy to follow social media and tech videos. 

Transcription

How to create a Paypal Business Account

Hey everyone in this video, I wanted to show you how to create a PayPal account for the first time. So if you don't have a PayPal account, You could create one for personal or business to send and request money. I've had one for about 15 years or so, but I'm going to show you how to create one today.

I'm going to create a business model for my business. So go to paypal.com here, I'll have a link in the description to it and once you get to this page, you want to sign up. I'm assuming you don't have one just yet. Go ahead and sign up here and that's the two options you have. You have a personal account, so you can shop online.

You could pay for things on eBay, for example, or you can make a business account. I'll show you how to make a business account here, press next. Go ahead and type in your email here and then you'll have to set up the business contacts here, business detail, and business address. So go ahead and fill out this page here and then check this box and then press agree on the bottom of the page on the next page is going to ask you a business type here.

So if you have a business structure, go ahead and pick that here. In this case, it's a corporation. So, depending on which one you choose here is going to ask you different questions. So go ahead. And these are pretty straightforward. Answer these questions. If you. Have an EIN number, this is where you would fill that out for a corporation type.

Next is going to ask personal questions about yourself here. They won't check your credit. Don't worry, but it's going to ask for the last four digits of your social and date of birth. Next, we have to go through the accounting process here. To confirm your email is first. So go ahead and do that. You should've got an email just now next step in the process is confirming your business identity.

Go ahead and click that. And it's going to give you a few different options. So you could do your business name and EIN number and select the document to upload here. These are all the different documents you could choose from you or your business address. So the same kind of thing, you could choose a document to upload here.

It gives you some options and you go your business registration. So you could also do this later, but if you do this later, you're not going to be able to do a few things with your PayPal account. So you can't send or spend money on your PayPal account. In this case, I'm using it to accept payments on a different website.

So that's okay in this case, but make sure you go through this process and do it there. Next, let's link our bank accounts. So go ahead and select your bank account or choose a different one. If you don't see it here, I have a chase account here. So I'm going to go through that process and then you will need to log into your account, or you could enter a number manually.

If you have it, this takes a little bit longer. I'm going to go ahead and type in my username and password for my bank account. You can do the same and link your bank instantly and if you have multiple accounts, make sure you choose the right account here. That's associated with this business and most likely, it's going to give you a page to link a bank account and it's going to ask you for a routing and account number here. If the automatic log-in doesn't work here, there is a chance you'll get this page, go ahead and type in your writing number and your account number, and now my bank is linked here. I got the check box and we could skip the one on the bottom.

Get the PayPal MasterCard. We don't obviously need that if you don't want it, but we want to make sure our business name is clear.  When customers use their credit cards to pay for things. So I definitely want to make sure I do that and I got the check box there and we're sitting with this page here.

We want to go to the payments set up now and it says, choose one of the things that you want to use here. So in this case, I want to accept payments on my website. So I'm going to check that, but these are the different options you could select multiple different ones, and then you can press continue. And now you could choose if you want to use debit and credit cards through PayPal here, this option, or if you already have another payment method on it, your website, you could use just using PayPal as a second option.

I'm going to use this because I already use Stripe as a payment processing, but I want to add PayPal. I'm going to continue here and now you'll have to have a little bit of that advanced knowledge on your website. So you could use API to add PayPal to your checkout on your website. So you could learn more about that.

This is a little bit beyond the scope of this video, but you can learn more about how to do that here or you could use pre-built payment options like Shopify. Those will make it a little bit easier for you, but here it gives you a lot more options. But at this point, you're basically set up, just make sure you come from your business identity.

The one-step that needed documentation to be uploaded that I skipped, but everything else is pretty much all you need to do to set up your PayPal business accounts, and then you could go ahead and connect it with the payments set up to your website. I hope you found this useful. Please give us a like, and subscribe to this channel for daily tech videos and I'll see you next time. Thanks for watching.

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