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.
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.
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.
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.
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.