Q&A for How to Set Up a PayPal Account

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Question

How do you receive money through PayPal?

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Staff Answer

All a person needs to send you money on PayPal is the e-mail account you used to open your account. When the person sends you money, you'll be notified by an e-mail and then you can log into your account and transfer the money to a bank account if you have it connected to your PayPal account.

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Question

Is it safe to do PayPal?

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Nothing is 100% safe, but PayPal has good protections in place, both as far as encryption and for fraud and helping buyers resolve disputes with shady sellers. In many cases it is safer to use PayPal rather than entering in your credit card directly, since each store you shop at is a potential risk and by using PayPal stores never see your actual credit card number.

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Question

Can you have a PayPal account under 18?

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As of right now, the answer is no. There used to be an option for a PayPal Student account which could be opened with the help of an adult, but this has been discontinued. This appears to be for legal reasons, since someone under 18 cannot legally enter into a contract. However, many banks allow minors to open accounts with the help of a parent or guardian.

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Question

What if I have a peso account and they deposit dollars. Is it fine?

Community Answer

Yes, PayPal should convert other currencies to the rate of the time you get it. It'll show up as dollars on your statement, however.

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Question

Do I have to have a credit card or bank account to open a PayPal account?

Community Answer

No, but if you don't, you can only receive money by check.

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Question

Can I link a savings account instead of a checking account?

Community Answer

Yes, you can link any kind of bank account to your PayPal account.

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Question

Can I set up a PayPal without a bank account?

Community Answer

Yes, you can. You won't be able to move funds from your bank account to your PayPal account, but you can load it with a debit card, credit card, PayPal gift card, or have other people send you money.

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Question

How do I withdraw money from my PayPal account?

Community Answer

There should be a withdraw button on your PayPal account page. You then need to select the bank account to send it to and the amount you want sent.

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Question

Can I open a PayPal account without a credit or debit card?

Community Answer

If you have a bank account and can provide the account/routing number for that, yes.

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Question

Can I register with eBay without setting up PayPal?

Community Answer

Yes. You can just for browsing; however, it will ask you for a payment method if you try to buy something. It is safest to use PayPal.

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Question

Can I open a PayPal account if I live outside the US?

Community Answer

Yes, anyone, anywhere can open a PayPal account. You'll just have to link it to an existing credit card, debit card, or bank account number.

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Question

What does it cost to use PayPal?

Community Answer

Nothing, it's a free service. You just have to sign up and link your bank account, not for any fees, but to make payments with the service.

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Question

I've set up PayPal and connected it to my bank account, but don't see the two small deposits. Can they resend them?

Community Answer

Give PayPal about a week. If you don't see the deposits after that, contact support.

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Question

How do I delete my PayPal account?

Community Answer

1. Log in to your PayPal account. 2. Click the Profile link. 3. Click the Close Account link in the Account Information column. 4. Click the Continue button. 5. Click the Close Account button.

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Question

Why do they need my address?

Community Answer

They need your address to verify your identity. It's just a security measure.

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Question

I have an account but have forgotten my password and I don't remember the answers to the security questions. I would like to set up an new account, but because I am using the same email, I can't. Is there a way around this?

Community Answer

PayPal has multiple ways to contact them. For situations such as this, calling them to figure out how to open a new account with the same email would be your best way to resolve this.

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Question

I need my web developer to access my PayPal account. How can I make sure that they are not able to do money transfers from my bank account?

Community Answer

If you're giving a third party access to your PayPal account, you cannot limit what they do and do not have access to within the account.

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Question

I live in Papua New Guinea, and I bank with ANZ Bank. Will it be possible for me to link my bank account with PayPal?

Community Answer

Yes, it should be possible, as long as you have your routing and account numbers. However, transfers and initial setup might take longer.

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Question

Do I have to send back the two deposits made by PayPal?

Community Answer

No, you don't have to do anything.

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Question

How do I set up multiple accounts in PayPal?

Community Answer

You can't set up multiple accounts, but you can use different accounts by switching accounts for different reasons at any time.

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Question

How old do I have to be to have my own account?

Community Answer

You have to be 18 years old to open an account. If you're younger, ask your parents to help you open a PayPal Student Account.

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Question

The last time I used PayPal, my account was compromised and it cost me £3,000. How safe is it now?

Community Answer

You didn't explain when the last time was that you tried, but over the past few years, PayPal has grown exponentially and has a much better security system than in its earliest years. However, your concerns are best answered by PayPal itself, so it would be a good idea to send them an email, asking them how you can guard against anything like that from ever happening to your account again, and what their guarantee is now.

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Question

How can I link another email to my PayPal?

Community Answer

You cannot. You can only attach one email to one PayPal account.

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Question

Can I have my PayPal account linked with my bank account but not with my credit card?

Community Answer

Yes, you can have it linked without a credit card. You will be asked to supply the routing number of the bank and the checking account number during the set-up process.

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Question

Can I use a prepaid card or does it have to be a bank card?

Community Answer

It has to be an actual bank card, as PayPal uses your bank account to verify you.

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Question

Does the bank account need to be in the US?

Community Answer

No, that's not necessary. Any currency will work for a PayPal account, as long as it is a bank account that you own.

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Question

Can I take money from PayPal account and put it on a prepaid Visa card?

Community Answer

No, you'll have to move it to a linked bank account first.

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Question

Do I have to pay a fee with a new PayPal account?

Community Answer

No, the only way you'll ever have to pay fees is if you're selling or servicing someone else. PayPal will take a small percentage of the payment you receive.

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Question

Is there a limit to how much I can send or receive?

Community Answer

No, there is no limit to how much you can send or receive. Send and receive money as you will.

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Question

Do I need to have a bank account to use PayPal?

Community Answer

Yes, you will need a valid bank account to make or receive payments.

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