How To Set Up A PayPal Account To Receive Money Online

Elon Musk Co-Founder Of PayPal Created One Of The Easiest Ways To Get Paid Online

In March 1999, Musk co-founded X.com, an online financial services and e-mail payment company, with US$10 million from the sale of Zip2. One year later, the company merged with Confinity, which had a money transfer service called PayPal. The merged company focused on the PayPal service and was renamed PayPal in 2001. PayPal’s early growth was driven mainly by a viral marketing campaign where new customers were recruited when they received money through the service.

Musk was later ousted from his role as CEO due to disagreements with other company leadership, notably over his desire to move PayPal’s Unix-based infrastructure to Microsoft Windows. In October 2002, PayPal was acquired by eBay for US$1.5 billion in stock, of which US$165 million was given to Musk. Before its sale, Musk, who was the company’s largest shareholder, owned 11.7% of PayPal’s shares.

The Ebay craze really fueled this. The need for a cheap and convenient payment system was fed by the millions of transactions taking place on Ebay, where most sellers had very little expendable cash to pay for a credit card payment system, and most buyers only had a bank account and credit cards to pay with – and most were very wary of typing in their credit card information over the Internet, with so many cases of credit card numbers getting hacked on the Internet.

Paypal

PayPal’s features and fees vary depending on your location, and many countries don’t allow transfers from PayPal to your bank account. Before sending earnings to PayPal, make sure your country is supported.

Most freelancers and home-based businesses and affiliate marketers use a personal PayPal account to get paid immediately. If you need advanced features like sending mass payments or low cost credit card processing, you may want to consider a premier or business account. PayPal may limit your account functionality until you pass their verification procedures and they usually require a bank account or credit card.

In order to get paid, most online companies will require your tax information must be on file. Once that is complete, available funds will be disbursed according to your payment schedule and you may initiate manual withdrawals as needed.

Please keep the following points in mind:

  • Confirm your PayPal account and complete any necessary verification process with them.
  • Once you get paid using PayPal, we do not have control over the funds and cannot reverse the transaction. It is your responsibility to ensure your vendor account is properly set to handle the transactions and your PayPal payments.
  • In most cases, your payment transfers immediately. However, there are rare occasions when it may take up to 24 hours. If it has been more than 24 hours, contact Support Services.
  • We recommend setting your primary currency to US dollars on PayPal to reduce currency conversion fees. This can be set during account registration or be changed later.
  • Sharing a PayPal account is not permitted. You must use your own registered PayPal account.
  • In countries where transfers are not allowed, you may be able to open an account, using your earnings to use PayPal to pay online merchants or to transfer money to other people’s PayPal accounts. See PayPal Offerings Worldwide for a complete list of countries and available services.

If you already have a PayPal account:

  • If it’s registered to the same email address, you can set PayPal up immediately for affiliate and business payments.
  • If it’s registered to another email address, choose one of the following ways to make your PayPal and your new business emails match:
    • Add the email address you use to your existing PayPal account. When you log into the PayPal website this option is in My Account > Profile. Click the link in the confirmation email from PayPal to complete the addition. Or,
    • Click the Settings icon on any new business or affiliate account page to change your email address to match the one on your PayPal account.

If you need to create a new PayPal account:

  1. Go to PayPal.com and confirm that your country is supported and that their features and fees are acceptable.
  2. Register for a PayPal account using the same email address you use for your affiliate and business accounts.
  3. Confirm your email address with PayPal. Once confirmed, ensure you have a way to access the funds sent to the account. The process varies by method and country.

To add PayPal as a payment method:

  1. Click the Settings icon under User Settings.
  2. Click Add a payment method.
  3. Click the Set Up button for PayPal.
  4. Verify that your PayPal account and use the same email address.
  5. Choose a payment schedule PayPal payments or checks in the mail.

To edit your PayPal account:

  • You must make changes directly through PayPal—including adding or changing email addresses or closing the accounts.
  • If you are interested in a home business opportunity making $350 – $500 per day working from home, go here.

To your success,
Jeremy

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