Opening a Paypal Account

Opening a Paypal account is one of the major tasks you have to do once you decided to accept freelance jobs. Since most of your clients are abroad, there’s no fast, safe and cheap way to receive payments than to do it with established online payment systems. Aside from Paypal, there’s Moneybookers. Personally, I haven’t tried it since Paypal already worked for me the first time I used it. So how does one open a Paypal account?

First, you need to sign up at the Paypal website. Be sure that you enter accurate information as this will be needed when you link it to a bank account.

Definitely, for you to be able to withdraw your earnings, you need to have a bank account attached to your Paypal account.

Once you’re done with signing up, you have to verify your account. Verification is very important as Paypal wants to ensure the legality of transations and also to avoid scams. Unverified accounts will be tagged Personal accounts whereas verified accounts will be tagged Premium accounts. Personal accounts have several restrictions and limitations unlike Premium accounts.

Account verification is usually done using a credit card. Some of you may hold off and say, “I don’t have a credit card. Can I still verify my account?” Of course! Aside from credit cards, your Paypal account may also be verified using Unionbank Eon Debit Card. Here’s a step by step procedure on how to verify your Paypal account using credit card and Unionbank Eon Debit Card.

Once you’re done with these steps, you’re all good to go. You can now withdraw your Paypal funds to your bank account.

However, you may experience some account suspension from Paypal’s random checking. This usually happens to new accounts. You don’t have to worry because suspension will be immediately lifted once you fulfill their requirements. Usually, Paypal would require a proof of billing scanned and mailed to them. You can refer to Paypal Resolution Center to get the complete list of requirements.

You may contact me if you wish to ask questions not covered in this article.


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