Setting Up a PayPal Merchant Account

Hello and welcome to this video brought to you by Aliarts Website Marketing. This video is a step by step guide to setting up your PayPal merchant account in order to receive payments with your eCommerce cart.

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Can’t watch video? Here is a transcript of the audio.

So let’s head over to www.Paypal.com to set up your account.

We are setting up a business account today, so click on the business tab that you see here. Here in the sidebar you’ll see the title ‘Open a PayPal Account.’ Go ahead and click the ‘Create Account’ button directly underneath.

This will bring you to step 2 of creating your PayPal account. From the dropdown menu, choose New Zealand as your country or region. Leave your language as US English. Click on the Get Started Button directly under the Business option.

This will bring you through to step 3. Fill in your business details and scroll down. You will also need to fill in your contact information and your personal address to complete this step.

Next choose an email address and password that you will use to log into PayPal. This is generally your main email you use all the time, as this is where you will get payment received notifications. This will inform you you’ve had a sale at your website. Scroll down, accept the agreement, enter the capture, and click the Sign Up button at the bottom of the page.

Next you will be asked to add a credit card to your account. You can do this later, but it takes a few days to verify, so if you have time, I would do it now. Add your credit card details and click ‘Add Card.’

The next screen will ask you to ‘Link and Confirm your Credit Card.’ Click ‘Save and Continue’ to move on.

The next screen will tell you how to link and confirm your credit card. PayPal will make a $3 charge on your credit card. There will be a 4 digit code linked to that charge. In 2-3 days you will need to check your credit card statement to find the 4 digit code. For now, click continue to log in to your new PayPal account.

Once inside your account you will see a list of notifications. Confirm your email address by visiting your email client, and clicking on the verification link provided. Once you have the code from your credit card statement, you can click on the link that says ‘Confirm My Debit or Credit Card.’

In the following screen enter the four digit code, then click submit. Your credit card will then be verified and linked to your PayPal account.

Now your account is all set up. When someone buys from your website, the funds will be deposited directly into your PayPal account, and you will get a notification of payment recieved email. You can then log in to your Paypal account and withdraw your money to your bank account.

In order to withdraw your funds into your bank account, you will need to add an account to your profile. Choose ‘Profile’ from the menu, and select ‘Add/Edit Bank Account.’

The next screen will allow you to add the bank details of your business account. Click continue. Next you will be asked to review the details are correct. Once you are totally sure the details are correct, click ‘Add Bank Account.’

On the confirmation page you have two options. You can either ‘Go to My Account’ or ‘Withdraw Funds to Your Bank Account.’ To show you how to withdraw funds, click the Withdraw Funds link. You can reach this at any time by clicking ‘Withdraw’ in the menu.

Either of these options will bring up your Withdraw screen. You will be shown your balance, and then you can enter the amount you wish to withdraw to your bank account directly beneath. Choose the account and click continue. Until your credit card is linked to the account you are limited to withdrawing $770.00 per month, so this is why it is a good idea to get onto this right away, like we have. I try to withdraw only once a week, as this just makes it easier to match amounts on your bank statement. It’s up to you how ofter you withdraw, but keep in mind it will cost you $1 if you withdraw less than $150.

So that’s it. All you need to know to set up your PayPal merchant account and withdraw your funds to your business account. As usual, if any of this is unclear, or you need to go through it with me, please feel free to let me know on any of the numbers at www.FreeWebsiteDesign.co.nz, or Aliarts.co.nz.

Thanks for watching, and I’m looking forward to seeing you in the next video in the series.