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How To Set Up A PayPal Business Account

It’s easy to set up payment buttons or shopping carts on your website using PayPal tools How To Set Up A PayPal Business Account

PayPal is one of the simplest ways for customers to pay for business goods and services - but the benefits don’t stop with the customer. As a business you’re also quids in because it enables you to take payments for sales without the paying out for a costly merchant bank account. With latest figures showing that 192 million people now have accounts worldwide, it’s a business tool which is proving incredibly popular, so here’s how it works.

Benefits to business

You can accept payments from customers via your website or app, in person or instore, or by email or phone. It also allows for payments in 100 different currencies – so great if you export abroad. Apart from a low cost way to process sales, you’re also able to check online direct payments from customers’ personal PayPal accounts. It’s also easy to set up payment buttons or shopping carts on your website using PayPal tools. Funds are accessed via a business debit card or directly to your main personal or business account.

Costs

It’s free to set up a PayPal Standard and PayPal Express account - you only incur a charges when you make a sale, which is calculated as a percentage of your total sale price. The actual percentage charged depends on your location of both you and your customer.

The difference between PayPal Standard and PayPal Express is that the first allows customers to complete the sale through PayPal rather than your own site, which means they might not check back to see your ‘thank you’ page – an important communication tool. For a monthly of around £20 fee you can utilise PayPal Pro which allows you to customise your online checkout and keeps customers on your site.

Do my customers need a Paypal account?

No - you can set your PayPal account up to allow customer to checkout as a guest.

How to set up

Before you get started, make sure you have access to a valid email address, a business address and phone number and a business or personal bank account, including relevant details such as bank account number and sort code. Then go to PayPal.com and sign up. Once you’ve filled in the online forms, you’ll receive an email allowing you to verify your account. You then need to log back into PayPal and enter the remaining requested information. To get your account up and running, PayPal will then send a verification request to your bank in the form of two small deposits. After three to five days, the verification process is complete and you can log in to your PayPal account to complete the set up. You can now set up your online shopping system. Read more like this

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