PayPal Business is a flexible and secure way to receive payments from customers, manage expenses and track the flow of funds in your business. With PayPal Business accounts, you can:
Why use PayPal Business?
PayPal Business is a payment solution that allows you to accept payments from customers, send and receive money, manage your business finances, pay bills and make purchases.
PayPal Business users can receive payments in more than 100 currencies worldwide. If a customer pays using their PayPal account (which is an option for most of our merchants), they’ll never be charged additional fees.
What are the benefits of a PayPal Business account?
PayPal Business accounts are great for accepting payments online. When you sign up for a PayPal Business account, you’ll be able to start accepting credit card payments through PayPal and receive funds in your local currency. You can also send invoices, track your business expenses and get paid faster by receiving payment alerts.
What are the business account requirements?
To open a business account, you’ll need to be 18 years or older and have:
- A valid U.S. Social Security number (SSN) or individual taxpayer identification number (ITIN).
- A bank account in the name of your business entity. You can’t use your personal bank account to set up the PayPal Business Debit MasterCard® Card. If you don’t already have one, open an account with one of our partners who offers low interest-rate credit cards designed for small businesses like yours: Capital One Bank or Wells Fargo Business Credit Cards.
- An address where we can send mail correspondence related to this account if necessary (this does not need to be the same as your mailing address).
How do I sign up for a PayPal Business account?
To sign up for a PayPal Business account, you’ll need to:
- Go to the PayPal website.
- Click “Sign up.”
- Select “Business” from the drop-down menu that appears in the top right corner of your screen.
Follow the prompts to fill out your application and create an account!
How do I confirm my identity as a business owner?
To confirm your identity as a business owner, you’ll need to upload a government-issued ID and/or your company’s D-U-N-S number.
You can also upload:
- A copy of your business license or other official document from the government agency that regulates your industry (for example, if you’re in retail, this might be an article of incorporation)
When can I start receiving payments through PayPal?
You can start receiving payments immediately after you have set up your account. You will not be able to withdraw funds until you have verified your account.
To verify an online store or business, PayPal will ask for some information such as:
- Contact information (name, address and phone number)
- Proof of identity (a copy of your driver’s license)
A business account can help you accept payments, track funds and manage your business.
A business account can help you accept payments, track funds and manage your business.
- Receive payments from customers: With a PayPal Business account, you can accept credit cards and electronic checks as payment for goods or services. This can be helpful if your company sells products online or over the phone.
- Track your funds: You’ll be able to see all of the money coming into and going out of your account on a single dashboard that shows daily sales activity as well as past transactions (including refunds).
- Manage your business: With a PayPal Business Debit MasterCard®, it’s easy to pay bills from anywhere at any time–no checks needed!
Conclusion
We hope this guide has helped you understand the benefits of a PayPal Business account and how to sign up for one. As a business owner, it’s important that you understand how your payments are processed and where they go. The best way to do this is by using an online payment service like PayPal because they offer many features that others don’t–like fraud protection and customer support 24/7!
