Here I am going to tell you that how you can receive money from the new PayPal account into your bank account.
As you can see on the screen that when the payment is completed, that money goes into the hold. And if you request to get money from PayPal, then in two to three working days your money will be cleared in the PayPal account. Which you can transfer to your bank account.
In this whole process, you will incur some transaction charges or processing fees.
Create Your PayPal Account
First of all, you have to create an account on Paypal. While creating the account, you have to decide whether you want to create your personal account or business account.
For those people who have to send money to their friends, relatives or want to do some online shopping then a personal account is right for them and there are many facilities related to it.
And for those who want to receive money from their customer transaction or they have a small business, then a business account is right for them.
So the other one is completely for the business’s purpose. So you have to select as per your requirement. If you have an online shopping portal and you are selling products online then you need to accept the money online so accepting debit and credit card payments for a small business is a good option for them. So at the same time, your business accounts will have the option to access up to 200 employees.
Step By Step Guide To Set up a PayPal account
- Open PayPal’s website and click on the Sign-Up button.
- Now You have to select the account type.
- Fill in all details like phone no and verify.
- The other details you have to fill in like name, email, password, etc.
- Add your address and other required info, and then click Continue.
- The bank account is optional so if you want to receive your amount in the account then you have to add the bank details otherwise no need.
- Now you have to verify your email address, you will get a verification link in your mail inbox you have to click on that link for verification.
How To Link Bank Account in PayPal Account
Now you have to click on the Pay & Get Pay link, after clicking on that link you will get a page like the below image, Now you have to fill in your account details by clicking on this link for a new bank account and doing the verification.
Steps To verify a PayPal accounts
Now Log into your PayPal account.
Click on the Pay & Get Paid, Link.
Click on Add New bank Account.
Select the bank account and fill in all the required details.
Now you can check all the account activity.
PayPal provides you to use the automated system to link your bank account without looking at deposits.
you will get some amount in your bank account and then you have to give the transaction details to PayPal then PayPal will verify the details.
For another account, you have to fill in the same details by clicking the add new bank account.
After a certain period of time and transaction, PayPal will ask you to verify the details then you have to verify the details.
How To Receive Money without adding a bank account?
We can receive the amount from any on in our PayPal account without adding a bank account in the Paypal account. For receiving money from another PayPal account you don’t need a bank account, debit, credit card.
But when you want to spend that money you need bank details so you have to get verified by Paypal then only you can receive that amount in your bank. and then you can withdraw that amount.