What is PayPal and how to create an account?

Shopping online is a very common practice in today’s world. More and more stores are integrating PayPal in their payment method, a method that has revolutionized the online commercial era

PayPal is a payment platform for buying, selling and sending money online that allows us to easily and securely send and receive payments, and transfer money online to friends or family.

In this post, I want to show you everything you can do with PayPal, its advantages, conditions and the way to get your own account.

What is PayPal and what is it for

PayPal is a virtual payment platform, i.e. a platform dedicated to improving Online banking transactions between its customers, without them being obliged to disclose their financial data to the company offering the service.

The company PayPal emerges as a mediator and intervenes between the parties involved to ensure a fair deal for both. Although opening an account on this platform is totally free, this perceives a commission per transaction to the receiver of 1.9% to 3.4% plus 0.35ÔéČ.

What do I need PayPal for

  • Pay for your purchases made online without compromising your bank details or credit and debit cards.
  • Send money to family or friends no matter where they are in the world and avoid excessive fees.
  • Receive the amount for products sold, services performed and commissions and bonuses for tasks performed on monetized portals.

Advantages of owning a PayPal account

There are many advantages that you can get by registering on this platform. But to make it simpler, I will outline the most specific:

  • Opening a PayPal account is totally free.
  • It is universalized, i.e., accepted by the largest number of Online sales stores worldwide.
  • Extremely easy to share.
  • Protects your bank details.
  • Totally suitable for numerous currencies worldwide.
  • Avoid reverse transactions due to errors when entering bank details.

Requirements for creating a PayPal account

First you must have an email account such as Hotmail. You must also have a verifiable bank account or a credit or debit card.

These details are required in order to receive the amount on your PayPal payment platform or to upload the amount needed to make a payment. You must also be older.

How do I open and start using my PayPal account

Step 1

For the creation of your PayPal account, log in to the official page of the platform: www.paypal.com. Next you must click on the “Create account” option clearly identified in the upper right corner.

Step 2

Choose between the two available account types you wish to open. The options are: Personal Account or Business Account. In order to make the right choice to suit your needs, let’s take a look at what each of them is for.

Personal Account

It is designed for users who project themselves as a consumer. For example, if you want to make online purchases or send and receive money with certain limitations set out in the terms of use, this is the type of account that suits you.

Business account

Defined for companies or Freelance experts, due to its high volume of economic transactions. In the same way, you can receive money for online sales and manage payments without canceling commissions.

After selecting the desired account type, click on the blue “Continue” button.

Step 3

Now you must fill in a template detailing your personal data. Define in a very simple and intuitive way the following parameters:

  • Country/Region
  • First name
  • Surname
  • Email address
  • Create password (It is not your email password, it is a password that you must define for your PayPal account)
  • Confirm password (repeat the password defined in the previous box)

Once you have filled in all the required data, click on the blue “Next” button.

Step 4

Get past the reCaptcha to tell the platform that you are a real person. Now, you will need to further define certain personal data, which will tell the platform your origins. All this to guarantee your own security when managing your financial transactions. The new template will ask you for:

  • Nationality
  • Type and phone number (increase the security of your account and streamline the notification of all your transactions. Not optional)
  • Address line 1 and 2 (Define your address or home address)
  • Postal Code and City
  • Province/Autonomous City (Choose the one that corresponds to you from the predefined list)
  • Date of birth

Step 5

After filling in this template, you will be able to choose between three options according to your preferences, if you want to keep the session always open and to receive offers and promotions to your Email.

The last option is mandatory to complete the process, because these are the terms and conditions that you are supposed to have read carefully, by clicking on the blue “Terms of Use” and “Privacy Statement.”

Now you can click the blue “Accept and create account” button. Welcome! You now belong to the big PayPal family. Don’t forget to check your affiliate email to confirm your account. If you don’t see it in your inbox, look in the Spam inbox, it may be there.

Your first steps on PayPal

Once you have created your account, PayPal’s own system will take you through a tutorial to get you started in the process of sending money or making an online purchase.

As an additional option, at the bottom you will have the link with the necessary steps to link your bank account number or cards to the PayPal account. This way you will be able to top up your balance or withdraw the desired money from the platform to your affiliated bank.

Don’t forget to customize your profile by adjusting the settings. Among the settings to make, you can set your profile picture, determine security questions or two-step verification, etc.

Now you just need to familiarize yourself with the options panel; which is very easy to use, and start using this great virtual payment system, to manage a whole commercial world in an easy, safe and very comfortable way.

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