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PayPal 101: How PayPal Works, 2014

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7 of 10

Part 7: How do I set up my new Paypal account?
Answer: you can start a new PayPal account within minutes. The initial credit checking has already been done by your credit card company and you bank... now you just need to get PayPal to connect that information to your email address.

Requirements

You will need:
  • a valid and reliable email address.
  • a valid credit card and
  • a valid bank account in one of Paypal's 55 countries..


PayPal will record this information in confidence. Your email address will become your unique PayPal ID. Your email and your shipping address are the only two bits of personal information that will be displayed to the seller.

During the setup you will also choose a password to use together with your PayPal ID. Please make sure this password is not easy to guess, and that only you will know and use it!

Note: you may enter multiple credit cards and bank accounts to be used as your “payment sources”. While only one of these financial sources will be designated as “primary”, you can allocate payments from any of your sources at any time.

When you send a PayPal payment, PayPal will debit your primary source of funding within two business days. If you exceed your available credit limit, Paypal will attempt a second debit within another business day. Next: Once set up, you have two options for how PayPal will withdraw funds for payments...
 

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