To process payments without having to issue your credit card or bank account information directly; Paypal is a safe and secure third party system that you can use to process monetary transactions. Paypal is an online payment system used by individuals and businesses to process payments received and sent. These are 3 simple steps on how to get started with setting up your own Paypal account.
Step 1: Sign Up
Firstly you will need to go to Paypal.com to begin the sign up process. There is no charge to sign up. Initially you will need to select your country and your language. Then you will need to select the type of account you would prefer. You can choose to open a Personal account, a Premier Account or a Business Account. Your choice depends on your preference and the purpose of your account. You will need to provide an email address. This is the email address you will use when you are accessing your Paypal account. You will also need to provide an 8 character minimum password along with your first and last name. After providing the required information, you will receive an email to complete the activation process. In your email you will see an Activate button that you will click on to direct you to your Paypal account. Once you are back at Paypal you will be prompted to enter your password (that 8 character password you provided at sign up). Once you enter the password and click confirm you will be logged in to your Paypal account. You are now signed up.
Step 2: Establish a Credit Card or Bank Account
This is where you will link your Paypal account with a source to process your funds. If you choose to link your credit card with your Paypal account, just access your profile section page and select the credit card option. At this time you will enter your credit card information and submit. If you prefer to link your bank account with your Paypal account, just select the bank account option instead on your profile page. You will then be required to enter your bank account information. To confirm your bank account, Paypal will send 2 small deposits to your bank account. You will need to check your bank account for those deposits. Once you have seen those deposits in your bank account you will need to return to your Paypal account to enter the 2 deposits. Once you have entered and confirmed the deposits you are now able to receive and send money.
Step 3: Verification
Once your bank account information is confirmed you will need to verify your Paypal account. This is to ensure that your Paypal account is protected. You will also need to set a limit on the amount of money you want to send.
By following these 3 simple steps you will be able to establish a safe and secure Paypal account.