The steps in how to open a PayPal account are fairly easy but new users to the internet and PayPal may encounter a few technicalities that may confuse them.
Here are several things that may want to know if you intend to open a PayPal account.
Adding Your Preferred Credit Or Debit Card
First, it is a requirement for you to have a debit card or a credit card to open a PayPal account. Although you may register for PayPal without a debit or credit card, they are necessary to actually use the service.
To link your account to your credit card or debit card, you need to input the card verification number. Visa, MasterCard, and Discover cardholders can find the card verification number in the last three digits in the signature area at the back of the card.
Linking Your Bank Account
Another thing that you need to know when you open an account is that you have to link it with a bank account as well. Aside from your credit card or debit card, this is the sole method of withdrawing the money from your PayPal account.
To link your bank account to your PayPal account, you will need your bank name, your bank routing number, and your bank account number. Additionally, you can just search the internet for your bank’s routing number if you don’t know what it is.
You also need to remember to verify via email when you open the account.
Those who are not verified have a withdrawal cap of $500 a month while those who are verified have no restrictions on the amount that they can withdraw. Unverified members refer to those people who have not taken extra procedures to validate their identity with PayPal.
There are a few simple steps that you can do to verify your account. First you need to confirm your email address through the verification link that PayPal sends you upon signing up.The email title will read “Activate Your PayPal Business Account”.
Then you need to link a bank account to your PayPal account using the steps described previously.
Following these simple tips will have your newly created PayPal account up and running in no time at all.