PayPal account tutorial to help you setup a online business.
As a business owner that now has a website that will be selling products or services you will need to get yourself a PayPal account. This is also a valuable tool when needing any work done on your website or marketing as many of these service providers will have PayPal as their payment processor.
All you will need to get started is a credit or debit card to open a PayPal account. If you are ready let’s get started and set up your PayPal account.
FYI: If you are acting in a trustee capacity for a business, company or enterprise you will not be able to open a PayPal account profile for that business regardless of your country.
Setting Up A PayPal Account
The first step to get a PayPal account is to navigate to the site’s sign-up page. Select your country and your language preference. If your country is not listed in the drop-down menu it is advisable to contact PayPal before going any further as you may not be able to use this service in certain countries.
As for Australia there will be no problems.
Then you have to pick from the three kinds of accounts available: personal, premiere or a business account.
Understanding The Different PayPal Accounts
Select the personal account if you just want to use PayPal for shopping online.
Select the premiere PayPal account if you are planning to both buy and sell online.
Finally, select a business PayPal account if you wish to sell online and use a company name or group name. However, you will need an Employer Identification Number, ABN, ACN for a business account. Also, if you wish to quickly setup a PayPal account, just choose the personal account as you can easily upgrade your account later on.
Then the next thing that you have to do is fill out the sign-up form. Type in the required personal identification details like your name, billing address, phone number, and email address. Come up with a secure password for your PayPal account, needs to be between 8-20 characters long as you will probably utilize it for almost all of your internet transactions.
Make sure you also write down all the important information about your PayPal account such as the user which will be your email address and the selected password you have chosen.
The screen shot below is for a business account sign up..
The next image below is for the Primary Account Operator to complete, this is the person who is authorised to operate the account on behalf of the business.
Before you can continue you will need to click on the button “Match My Address” so that PayPal can verify the address details being submitted, if the address you entered can not be verified you will have to provide documentation to open an account. You will also notice just above the “Continue Button” where PayPal is required by law to collect information about you and your business for the Anti-Money Laundering Act of 2006.
How To Add Business Details To A PayPal Account
The next screen is where you enter your business details such as your Business Name and ABN, ACN.
The next screen shot below is where you will be asked to enter in your email address and choose a password for your account as well as two security questions in case you lose any information about your account. You will also need to agree to the terms and services for PayPal and whether or not you want to receive promotional information.
Once you have added your email address and typed in a secure password, and before I keep going just a word on passwords use numbers, upper and lower case letters and make it more than 12 characters long. Doing this makes it much harder to have your account accessed by any intruders. After all it is your money and you don’t want to lose it due to a weak password.
Make sure you write your password down before leaving the page or copy and paste it into notepad or a word document.
If everything has been completed successfully you will be taken to this conformation page…
You will need to confirm your email address before your account is fully active, you can do this from the confirmation email that PayPal has sent you and you are good to go.
The final step is to add one of your debit or credit cards. Doing so will allow you to make deposits on your PayPal account.
Just input your credit card number, and your card’s security code. The security code is the last three digits in the signature area at the back of the MasterCard, Visa or Discover card while for American Express, it is a group of four digits on the front of the card. You may also find with being an Australian business/individual that you do not have access to use an American Express card on your newly created account.
You also have the option of a direct debit coming from your nominated bank account, this may be more suitable for your business needs, however if you have not taken the time to create a very secure password for the account you may want to skip that and only use a credit card with a small limit.
You may also skip the above step and do it later after logging into your newly created account. Setting up your debit card or credit card is also essential as it will verify your PayPal account, which will unlock the amount you can spend through your account.