Starting a new business organisation? Already have a bustling small to medium-sized business (SMB)? Why not set up a PayPal concern account?

These accounts are keen for those who demand to commencement accepting payments every bit well as those looking to expand payment options and manage the day-to-twenty-four hours of online sales. Even if y'all already have a PayPal personal account, there are benefits to opening a dissever business account.

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But gather a few pieces of information about yourself and your business, follow these nine unproblematic steps, and y'all'll be upwardly and running with a PayPal business business relationship in a matter of minutes. Yous'll be ready to have payments for goods and services, track payments and profits, and access tools like live client support.

What you need to set a PayPal business account

Before you log into PayPal, assemble the following documents to make your account setup quick and piece of cake:

  1. Name and address of the PayPal account owner (typically the concern owner)
  2. Account owner's email address (this will be verified)
  3. Proper noun and address of the business
  4. Business's customer service contact information
  5. Bank name
  6. Bank business relationship number
  7. Bank routing number

The steps

  1. Get to PayPal.com and click on Sign Up.
    2. PayPal.com homepage
  2. Choose Business organisation Business relationship and click Adjacent.
    3. PayPal signup
  3. Enter your electronic mail address. Choose an email address that isn't associated with a PayPal personal account. If you use an email address already associated with a PayPal personal account, that account will be airtight.
    4. Entering email address
  4. Provide some basic data nigh your business, including the account possessor'due south name, the business proper name and address, your electronic mail address, and a concern client service contact. Once y'all've filled in all of the requested data, click Concur and Create Account.
    5. "tell us about your business" screen
  5. Supply boosted information about your business concern. You lot'll exist asked to indicate whether your business is a sole proprietorship, partnership, corporation, nonprofit organization, or government organization. Depending on your response, you may exist asked for information about the products or services your business provides, your business organization identification number, sales, or URL.
    6. "describe your business" screen
  6. Provide your personal information. To set upward your business relationship, you'll need to provide the final 4 digits of your social security number, your date of nascency, and your home address. Afterward you've completed this footstep, click Submit.
    7. "tell us more about you" screen
  7. Ostend your e-mail address. Within a few minutes, PayPal will send you an email to confirm the e-mail accost you've provided. Open the electronic mail, and verify your electronic mail address. This footstep is required to start using your account.
  8. Provide your bank business relationship data. Following the prompts in the email, log into PayPal and enter your bank account information. You can apply a personal bank account number if you don't have a business account. You'll exist asked for the proper name of your bank, the business relationship number, and a routing number to complete this footstep.

    In one case complete, PayPal will send a verification request to your banking concern by making ii minor deposits into the account. This stride takes three to five days, and so check your banking company account regularly for two small deposits from PayPal. When y'all run across the transaction, you tin take the final steps to set up your account.

  9. Log into your PayPal account. Y'all may be given additional instructions for verifying your banking data. Once complete, PayPal volition prompt yous to cull the payment methods your business volition have. At this stage, yous'll also be able to access all of the other features of a PayPal business organization business relationship.

How much does it cost to open up a PayPal business concern account?

Opening a PayPal business concern account is free. At that place are zilch setup fees, no monthly fees for using PayPal Payments Standard (PayPal Payments Pro charges a $30 monthly fee) and no minimum processing requirements — you lot can cancel your account at whatever time.

While at that place is no charge to fix your PayPal business concern business relationship, at that place are fees associated with the payment processing services information technology offers, such as for credit and debit card transactions and international payments for appurtenances and services.

What are the benefits of using a PayPal business account?

Here'south a quick overview of what PayPal business concern accounts take to offer:

  • Account setup is piece of cake.
  • PayPal business accounts offer more privacy than a personal account, thanks to the power to register the account under a visitor or concern name.
  • PayPal business account users can collect payments via credit or debit carte from customers who don't have a PayPal account.
  • Upward to 200 employees can access the business relationship, and you lot can decide on their level of access.
  • PayPal business account users get live customer support.
  • Users take access to PayPal concern tools and products.

It's definitely worth exploring opening a PayPal business account if your business is actually taking off.

This article is originally published on February 26, 2020, and updated on Dec 08, 2021.

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