How to Set Up a PayPal Business Accountby LaDonna Hadley
Sign up for a PayPal business account and set it up. You can use it for business purchases and accept payments from your customers immediately.
Signing Up for a Business Account
From any PayPal page, click Sign Up in the upper-right corner, or go directly to the PayPal signup page. Select the circle next to Business Account and click Continue.
PayPal offers two business options: Standard and Pro. The Standard plan is free to use and gives you all the tools you need to get started. The Pro plan costs $30 a month and gives you the option to host your own online checkout without customers leaving your website.
To open a Standard account, click Select Standard. To open a Pro account, click Select Pro. If you choose Pro, you'll be prompted to call PayPal customer service to receive expedited service.
You can upgrade from Standard to Pro at any time.
Enter your email address and click Next.
You need an email address to open any type of account with PayPal.
Choose a password for your account and confirm it. Complete the information fields in the form and then click Agree and Continue.
Setting Up Your Account
After you sign in, click Profile and then choose Profile and Settings from the drop-down menu.
Click My Business Info. This page contains contact information, your password and security questions, and your merchant account ID. The first time you go to the page, you'll be prompted to complete the contact information, including your tax ID number. You can use your Social Security number or employer identification number. Click Save when finished.
After you save the information, it is displayed with an option to change each item. If you need to update, click Change, change the information and then click Save to finish.
You can connect your bank account and debit or credit cards to your business account, just as you can with a personal account. Click My Money to add bank accounts, credit cards and debit cards and to manage payment settings. The first time you visit this page, you are prompted to add accounts. Click Save when finished. After you add accounts, you manage your connected accounts from the My Money page. Click Update to change or delete a card or account. Click Save to finish.
My Money is also the page where you can request a PayPal Debit MasterCard.
My Money refers to payments you make, not payments you receive from others. These accounts are used as your methods of payment when you make purchases with your business account. Payments you receive can be transferred to your bank account on your home page.
Click My Selling Tools to view and manage selling options. The Selling Online section contains PayPal buttons to use on your website, management of sales tax and invoice creation.
Your PayPal buttons can be customized for specific items, donations or subscriptions. Use PayPal buttons to directly link your customers to a payment page.
The Getting Paid and Managing My Risk section contains options for messaging and managing subscriptions. Use these options to receive immediate messages when people buy from you.
If you sell items that need to be shipped, purchase notifications by email or SMS facilitate rapid shipment to your customers.
Use the Shipping My Items section to designate an address you ship from and manage shipping calculations.
You can access and change any option in these three business sections by clicking Update. Click Save when finished.