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How To Set Up A Paypal Account | send, receive, and transfer money - YouTube
Channel: EntrepreneurGirl庐
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hi YouTube it's Jason entrepreneur girl
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and today we're going to talking about
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PayPal and I'm going to teach you how to
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set up your account how to transfer
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money into your bank account and also
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how to send and receive money
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the very first thing we're going to be
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talking about guys is setting up your
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PayPal account this is the PayPal
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website were open the PayPal app you can
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create an account from either this
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PayPal home page here or you can do it
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from your phone from your app you can
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install the app for free from your
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device's App Store and the account
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creation process is really kind of the
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same for both for today's purposes I'm
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going to be using my computer so the
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very first thing you want to do is go to
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paypal.com this is the screen that's
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going to pop up and you're going to log
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in if you have an account or click sign
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up if you don't you can also assign it
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for free here so I'm going to click it
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and here we get the option of doing a
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personal account or a business account
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either one is really fine and you can
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change it later so don't worry about
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that as always I like to do business
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accounts because it's important to set
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up your business for a place that you're
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going to be in the future not
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necessarily the place that you are right
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now and for tax purposes and accounting
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purposes it's much easier if you have
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business and personal separated and
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eventually most likely you will have to
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make that leap anyways now for business
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accounts there are two different options
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each of which will have different cost
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structures and benefits standard
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accounts are free but customers must
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route through PayPal in order to check
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out and Pro accounts cost about $30 a
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month but you get full control over how
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you want to design the checkout process
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the standard free business account is
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the same as the old PayPal premier
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account so if you're like me and you've
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had paid well for a long time the
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standard freezer
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this is what you're going to be familiar
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with and this account is best suited for
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users who do lots of buying and selling
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on eBay
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that is what I do and that is what I
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suggest for you so I kind of just like
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to do you know set it up correctly at
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first and not have to mess with it later
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here payment standard you can also add
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major credit cards and if you want to
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customize the experience you could do
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payments pro and that's going to cost
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you $30 a month I do not do that I do
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the payment standard I mean why would
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you do this they're both free and this
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has another option so I just select a
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standard you can do whatever you feel
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suits your best but now we're going to
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enter in an email address and click Next
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kanan is going to ask you for some basic
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information on not only your email
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address which does become your user name
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just so you know we're going to go ahead
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and enter in our password your legal
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business contact information and address
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and click agree and continue now they're
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asking me what type of business this is
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so that will be dependent on how you
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have it set up I have it as an LLC and
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putting in business to business
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educational services you could put
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wholesale shipping and packing this is
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just a fake account to show you today so
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that's to meet your monthly so your EIN
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number is your business identification
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number it's kind of like a you know
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personal you'll enter in your social
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security number this is a number that
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you get when you register with the state
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so when you get your LLC for example you
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will get this e is now we're going to
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click continue asking for personal
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information which is your social
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security number date of birth your home
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street address city state and zip code
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and you're going to click Submit and it
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says welcome to your PayPal
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account ok tips for when you're creating
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this account would be to make sure you
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have a strong password of course so that
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nobody else can access your financial
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information to make sure that you enter
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a valid email address because you will
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need it in order to verify your account
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later on entering these credit or debit
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cards are optional
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after entering in your personal
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information you'll be prompted to enter
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in your credit or your debit card you
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can do this now or you can come back and
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do this later but at some point you'll
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need to do it in order to verify your
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PayPal account now the difference
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between verification and not
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verification is when you don't verify it
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PayPal will limit you on how much you
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can use this service and how much money
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at a time you can use and compare apply
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it is really pretty easy you're just
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going to enter in all of this
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information and they're going to
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transfer at least for me it was three
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transactions and they were all very
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minimal like 24 cents forces and then
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what you do is you go back and you just
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enter in the three amount that you see
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in your bank account the three deposits
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you enter those in and it verifies it
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because it knows that you have seen the
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bank information and you can enter it in
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precisely and just so you know though
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that does take a couple of days because
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it has to be fixed your bank account and
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then you have to enter it in and then
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you have to verify it will need a bank
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account link if you plan on receiving
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money and if you want to be able to
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transfer it to your bank which of course
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I do and you do too probably so you just
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click on this and follow the prompts to
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go through the entire process if you
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want to you can apply for a paypal
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credit card PayPal will sometimes prompt
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you to sign up for a line of credit and
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you should read all the terms tariff way
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before applying if you'd rather do this
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or you can just opt out with a no thing
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these are all the things under your
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profile that you would need to do to
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verify your account and get it
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and running the way that you want it to
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be you need to confirm your email
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address and there's a blue button if
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that's unconfirmed and you click on that
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and it will tell you the steps to take
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go to your email click on the confirm
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email button and enter your password you
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can't find this message check your spam
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folder make sure that it's not there and
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now you want to link your bank accounts
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and you want to add a bank money to
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friends and family from your linked bank
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account it's cheaper than using your
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debit or credit card so most of the
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banks are here you just click on the one
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that is yours and then enter in all your
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banking information now you can do the
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same thing with debit and credit cards
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you can use PayPal to manage these
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various cards allowing you to checkout
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from websites without having to enter in
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your information each time if you want
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you can click link to cart option to add
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a card to your PayPal wallet and you'll
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need to enter in the card number
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expiration date and the security code
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and the name on the card let's match the
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legal name that you entered when you
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created account just so you know because
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um the cards are May you should know
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about paypal you can open a PayPal
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account if you live outside of the US
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anyone from anywhere can do that you
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just need to link it to an existing
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credit card debit card or your bank
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account so I have both business and
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personal accounts with PayPal and I want
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to show you now how you can send or
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receive money using your PayPal if you
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go to tools' and you scroll down to send
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money you can choose which ever one of
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these that you want so if I want to
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request money from someone so say I have
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a coaching client and I want to request
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money from them all I have to do is
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enter in their email address right here
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then I just enter in the amount of money
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that I am requesting from them I can
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change you know this is the United
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States dollar but I can change it to any
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international monetary rate that I want
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and I can write a note and then just
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click request money now how I prefer to
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do it
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however is going to tools and then going
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to invoicing create a new invoice now
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this is where you can enter in business
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logos which makes your statements look a
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lot more your invoices look a lot more
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professional and it has a day and
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everything you enter in their email
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address you can put whatever it is in
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there coaching services for one month
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whatever you want tab over and then you
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can put the price easy to enter in
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everything and to add tax to your
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invoices if you want if they have a
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coupon you can discount it if there's a
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shipping fee you can add it if you want
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to allow partial payment you can do that
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too
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and then you can write a note you know
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thank you you can enter in a
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cancellation policy but we're just
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making this up so first is going to go
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ahead and preview it so this is what it
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would look like it would have my name my
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email and all of this information and
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then to my email it will send me an
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email stating that I have sent this it
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will also send an email saying that it
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has been paid so I definitely prefer the
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invoices versus just going under tools
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and the money option because it looks
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way more professional and so I wanted to
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show you that but you could request
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money very simply this way now if you
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wanted to send money to friends or
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family this is what you would link to if
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I want to send it to my mom I just put
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in how much money I want to send her I
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can add a little note and click continue
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under tools is how you will send or
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receive money if you go to a summary of
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your account I can look at payments
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received I can look at payments sent
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okay so now I'm going to teach you how
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to transfer to your bank account you're
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simply going to click on
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money and it's going to tell me how much
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money I have available into this account
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now really for PayPal I normally leave a
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small balance in here because I do pay
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things like my Adobe for my business
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different things that come out on a
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monthly basis
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I do pay with my PayPal so I like to
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have some balance in here it's not like
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a checking account
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I can't over draw this because I have it
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linked to my checking account so say I
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had a $600 saying that I was paying for
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today I it would take five hundred and
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thirty two dollars and 26 cents out of
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my PayPal account and it would take the
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remaining balance out of my linked
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checking accounts I never have to worry
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about any type of overdrawn anything but
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I do leave a small balance in here just
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kind of you know because I know I'm
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going to spend it on various things but
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today I'm going to go ahead and
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withdrawal so that I can show you how to
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do that I want to transfer it to my bank
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account as you can see this takes three
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to four business days unless you have a
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paypal debit card which I have opted not
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to get but if you have that I do believe
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that it takes this time down it makes it
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more of an instant process but I'm going
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to transfer to my bank account and
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normally it is faster than that three to
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four days that it tells you so tell me
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how much balance I have and I'm going to
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go ahead and transfer out $500 and I
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might click continue then don't forget
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to click Submit and then that will be on
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its way and it will also notify me on
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email when I get it in there and that is
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all there is to it okay I hope that
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video is helpful to you if you missed
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how to set up an e-value account I'm
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going to go ahead and link that down
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below in the description box also we're
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having a twenty five thousand subscriber
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Q&A video so if you haven't already just
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take a moment and pop any questions you
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have down below into the comment section
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personal or business I just love that we
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can interact like that and I can just
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kind of answer you where
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you're at so I think that's going to be
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totally fun and I'm excited about
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hitting that twenty five thousand mark
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so subscribe if you haven't already and
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help me out with that well guys that's
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everything then I'll see you next video
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bye
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you
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