Accepting payments with PayPal part 1: Opening an account.

May 11 2020 | Chase Jones, PayPal Editorial Staff

If you need a quick way to accept payments – with or without a website – we’ll walk through the process from start to finish. This is the first step-by-step guide in a series that will show you how to quickly open a PayPal Business account, add a payment button to your website, send invoices, and create your own shareable link.

Step-by-step instructions.

 
1. Visit PayPal.com and click Sign Up. 

2. Select business account and click Next. 

3. Enter your email address and click Next. 

4. Now, create a login ID and Password and enter your business contact information.  

5. Make sure to read the 
user agreementprivacy policy, and electronic communications delivery policy. Then click Agree and Continue. 

6. Next, tell us about your business: Enter your employer ID number or if you’re sole proprietor, enter your social security number. 

7. Then, enter your website address if you have one and click Continue. 
 
8. We’ll ask for some additional personal information that will be used to verify your identity. 

9. Once that’s done, we’ll send you an email to verify your information. 

10. Then your account is ready to use. 
 
Watch how to open your account.  
 

Linking your bank account (total time: ~5-10 minutes) 

Once you’ve set up your PayPal Business account, the next step is linking a bank account where you can transfer your funds 
 
To quickly link your bank account, you’ll need the following pieces of information:  
  • Your PayPal Business account username and password 
  • The name of your bank 
  • The username and password you use for online banking 
  • Bank routing number 
  • Bank account number  
 
Step-by-step instructions for linking a bank account 

1. Log into your PayPal Business account. 

2. Click Money on the top of the page. 

3. Click Link a new bank. 

4. Select your bank or click Don't see your bank? at the bottom. 

5. Depending on the bank you select, you may have the option to link your bank instantly using your online banking login information.  

6. If the instant option isn't available, just enter your bank account details manually and click Agree and Link. 
 
If you entered your bank account information manually in step 5 above, PayPal will make 2 small deposits into your bank account within 3 days.  
 
Once you see the deposits in your bank account, the last step is confirming the deposits. 

1. Log into your PayPal Business account.  

2. Click Money on the top of the page. 

3. Click the bank account you want to confirm, and click Confirm. 

4. Enter the exact amounts of the 2 deposits made to your account. For example, if you receive two deposits of $.05 and $.15, enter .05 and .15 on the screen. 

5. Click Submit. 

6. Watch how to link and confirm your bank account.  

 


Once you’ve created an account and linked it to your bank, you’re ready to:

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.

1 To be eligible for discounted credit card processing fees for registered charities, 501(c)(3) status must first be verified by PayPal. Learn more.

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