3 Steps To Activate Your PayPal Business Account

Feb 20 2020 | PayPal editorial staff

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Now that you’re done signing up for your PayPal Business Account, you just need to link and verify your account to start receiving payments from your customers, and withdraw funds from Hong Kong without a limitRead on for a guide on the 3 steps to take to activate your business account. 


Step 1: Confirm Your Email Address 
After you’ve signed up for an account, you’ll receive an email in your inbox. Click on the email to confirm that we have your correct email address.  



Step 2Add A Bank Account
To receive payments from your PayPal Business Account, you’ll need to link your PayPal Business account with a valid bank accountAll you need to do is provide bank details like your Bank Name, Account Number, Bank Code and Branch Code, and make sure the name used for your bank account corresponds to the one used for your PayPal account. 


Step 3: Verify Your Bank Account 
Once you’ve added your bank account, we’ll make two deposits between $0.01 to $0.99 HKD that should be reflected within a few business days. When you see these deposits, verify your bank account by logging in to your PayPal Business Account, entering the two amountsand clicking “Confirm”. After that’s done, you’re ready to do business and receive payments.  



 
The contents of this site are provided for informational purposes only. You should always obtain independent, professional accounting, financial, and legal advice before making any business decision.

Frequently asked questions.

Yes. Once you've confirmed your email address and your PayPal account is activated, you can start receiving payments without being verified.

However, we encourage you to verify your account for added security to your account and to gain more trust with your sellers and buyers.

You can add an extra layer of security to your PayPal account by enabling 2-step verification for login. Once this feature is activated, we’ll send you a unique, random 6-digit access code each time you try to log in. Simply enter this code to access your account.

There are two ways to set up 2-step verification. You can use an authenticator app (like Google Authenticator and Microsoft Authenticator), or you can ask us to send text messages to your mobile phone.

Here's how to set up 2-step verification for your PayPal account:
  1. Go to Your Profile.
  2. Click Update next to "2-step verification".
  3. Follow the prompts to link your phone or an authenticator app.
Here's how to add your Hong Kong or US bank account to your PayPal account:
  1. Click Pay & Get Paid at the top of the page.
  2. Click Banks and Cards.
  3. Click Link a new bank account under 'Bank accounts'.
  4. Select the country or region of your bank, and fill out the rest of the form.
  5. Follow the instructions.
You can link up to 8 bank accounts to your PayPal account. Each bank account can only be linked to one PayPal account at a time.

After the bank account is linked, you can confirm this bank account.

Note:
  • Confirming a Hong Kong bank account is optional. The confirmation is to help you make sure your added the correct bank details to your PayPal account.
  • You can top up with or withdraw money from an unconfirmed Hong Kong bank account.

You can add a Visa, Mastercard, American Express, or Discover card to your PayPal Hong Kong account. The card must be issued in Hong Kong and under your own name.

Here's how to link a card to your PayPal account:

  1. Go to Money.
  2. Click Link a new card under "Cards".
  3. Enter your information, and click Link Card.
  4. Follow the instructions in the pop-up window to complete the 3DS verification. Once done, you can pay with PayPal using this card.

Note:

  • If your card is eligible for automatic update with PayPal, we may update the card information on your behalf when a new card is issued to replace the existing card linked to your PayPal account. Any billing agreement and payment preferences associated with this existing card will be migrated to your new card.
  • When you add a card, you may be notified of a 1 USD charge to your card. The charge on your card is temporary to confirm if your card is ready to use with PayPal. It usually takes a few minutes to receive the refund back to your card but it can take up to 30 days depending on your card issuer.
The contents of this site are provided for informational purposes only. The information in this article does not constitute legal, financial, IT, business or investment advice of any kind and is not a substitute for any professional advice. You should always obtain independent, professional accounting, financial, IT and legal advice before making any business decision.