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Paypal Merchant Account Requirements

by | Mar 18, 2021 | Uncategorized | 0 comments

PayPal Merchant Account Requirements

Know how to meet up PayPal Merchant Account Requirements. Augment your business by having a PayPal merchant account with completing all entailments to make it done. Set up a PayPal merchant account with ease with this article.

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. There are different kinds of Paypal accounts, Paypal Payments Standard, and Paypal Payments Pro.

Also Read: How to operate a business when systems go down?

Paypal Merchant Account Requirements

Here Are Some Requirements Which You Need For PayPal Merchant Account`

  1. We need Your Email
  2. Also, Your Details
  3. Moreover, Your Business Information
  4. PayPal Verification of Bank Account

Your Email:

  • 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.

Your Details:

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.

Also Read: High Risk Merchant Account

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 tech-friendly and looking for help to overcome all PayPal merchant account requirements. Call 5 Star Processing   at +1 888-253-9692.

 

 


 

 

Faqs:

 

 

Q 1: Do you have to be a U.S. citizen to open a PayPal merchant account?

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 a PayPal merchant account. Moreover, you would also be needed to link the US bank account and credit card account.

Q 2: Is there a minimum income required to open a PayPal 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.

Q 3: What documents do I need for the PayPal business account?

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.