Setting Up a PayPal Account
PayPal has 65 million account holders in 45 countries around the world; one in three U.S. online buyers has a PayPal account, and 90 percent of eBay sellers accept PayPal. An even higher percentage of regular merchants use it. And, of course, it’s easy to set up your own account.
1. Click the My eBay tab at the top of the page.
2. Click the PayPal link in the Related Links box at the bottom left of the page.
Accepting PayPal means you can accept credit cards, too. If a buyer doesn’t have a PayPal account, he can pay PayPal with a credit card, and the money is placed into your PayPal account.
3. Click the Sign Up for a PayPal Account button.
4. Create an account Password—you must use at least eight characters—click the check box at the bottom of the page (acknowledging that you have read the Privacy Policy and User Agreement), and then click the Register link at the bottom of the page.
5. A page appears telling you that your account has been set up. You haven’t finished yet, however. Check your e-mail for a confirmation message, and then click the activation link. A page opens in which you must enter your password to log in. When you do so, the Enter Security questions page opens.
6. Similar to setting up your eBay account, you also need to provide Security Questions. Choose the two questions from the drop-down list boxes, and then type the answers into the Answer boxes.
7. When you click the Submit button, you’ll be placed into your account page
Being verified protects you against unauthorized withdrawals. You’ll be considered more trustworthy by eBay buyers and sellers this way, and you’ll be able to transfer money toand from your bank account.
8. Your account is currently unverified. You can verify the account by
adding bank-account information; you may want to add credit-card
information, too. You’ll be able to transfer money between PayPal and your accounts.
9. Click the Add bank account link
10. Again, add your bank-account information: the Bank Name, Account Type, Routing Number, and Account Number. Then click the Add Bank Account button at the bottom of the page.
11. Though the process will seem complete, it actually isn’t. It still has a few days to go since PayPal will place a couple of small deposits into your bank account—essentially only a few cents. When you see the deposits—in a statement, online, or through phone banking, perhaps—log back into your PayPal account and click the Confirm Bank Account link that appears, and then enter the amounts deposited (thus proving you have
access to the account).
12. To link a credit card to your account, follow a similar procedure, beginning with clicking the Add credit card link. This process only takes a few moments with eBay contacting the credit-card network to verify the card.
PayPal provides a number of services to assist and protect eBay merchants, including the following:
■ Automatic PayPal logo insertion When you create an eBay listing and select PayPal as a payment method, the logo appears automatically.
■ Offer PayPal Buyer Credit PayPal pays you, and the buyer pays PayPal over time.
■ Seller Protection Policy PayPal guarantees you won’t be hit with a charge back caused by fraudulent use of an account, as long as you follow certain steps (require a delivery signature for goods over $250, keep proof of delivery, and so on).
■ Invoicing You can send customers invoices, which are paid through PayPal.
■ Shipping Center Calculate costs, pay for shipping (UPS and the post office), and print packing slips.
■ ATM/Debit Card You can get a free debit card that allows you to take money out of your PayPal account at any ATM machine, or at any store that takes MasterCard. Plus, if you use PayPal Preferred in your eBay listings, you’ll earn 1 percent back on your purchases.
There are other handy services, too. See the PayPal site for more information.
It’s true! You can earn money as an AIM Member. By sharing and selling the AIM products, you can earn a commission on your purchases as well as those of people you bring into the AIM family.
