Know that how to meet up PayPal Merchant Account Requirements. Augment your business by having the PayPal merchant account with completing all entailments to make it done.
What Are The PayPal Merchant Account Requirements?
A PayPal merchant account, otherwise called a PayPal business account, is an online payment receiver for business owners or entrepreneurs. In this article we describe all PayPal merchant account requirements.
The platform provides entrepreneurs the opportunity to receive payment from their customers via debit or credit cards and other means of payment.
The platform also provides the entrepreneur with bonuses that aren’t open to the individual or personal account.
Here Are Some Requirements Which You Need For PayPal Merchant Account
- We need Your Email
- Also, Your Details
- Moreover, Your Business Information
- PayPal Verification of Bank Account
- This is the first thing that will be asked of you once you sign up for an account.
- This is very important as this is the fastest way PayPal will be able to reach you.
PayPal will request some basic information about you like your first and last name, the password to your email, etc.
Need Your Business Information:
This is where PayPal asks for details on the business you want to register into it.
Here, you will be required to input your business type, business category, sub-category, business street address, business phone, establishment date, business website, and more.
PayPal Verification of Bank Account:
This is where PayPal will need to verify your bank account, so yeah, if you want to set up a business account, you need a working bank account.
And it’s only advisable and logical not to use your savings account for this, instead, put in a current account registered in the business’ name (not compulsory though).
There! Those are the basic requirements of a PayPal business account.
There may be more requirements for the Pro plan, but all the basics have been covered.
Contact 5 Star Processing
If you are not that much tech-friendly and look for help to overcome all PayPal merchant account requirements. Call 5 Star Processing at +1 888-253-9692.
If you are a non-US citizen then you can open a PayPal merchant account but it is mandatory that your current legal residence should be in the US then you can only be able to open the PayPal merchant account. Moreover, you would also be needed to link the US bank account and credit card account.
There is no minimum income or sales income volume required to open a merchant account. However, in order to be eligible for PayPal’s working capital, you should have a merchant account up and running for 3 months. You need to process at least $ 15000 in the 12 months.
In order to open the PayPal merchant account, you will need to confirm your email address, provide contact information, and offer account information for the bank account where you like the money to be deposited, a designated business banking account is recommended but not needed.