PayPal is a popular online payment system that lets you shop online without having to re-enter your information for every transaction.This service enables you to pay, send money and accept payment.You can easily set up a PayPal account and start using it in a matter of minutes. Before going into the steps of opening a PayPal account, here are different types of PayPal accounts: Personal Account The Personal Account is the “standard” account type. You can load money into it and use that money to buy things online or send it to friends and family members. It’s very useful for things like shopping on eBay, repaying friends for dinner, and sending your sibling a Christmas gift. Premier Account The Premier Account is for anyone who wants to sell stuff online as a one-person operation, whether in a hobby or professional capacity. Owners of Premier Accounts can receive PayPal payments on eBay, accept debit or credit payments from anyone, and receive the PayPal Debit card. Business Account The Business Account is for anyone who wants to sell stuff online under the name of a company or organization. In addition to Premier benefits, Business Accounts can accept bank transfers (with a per-transaction fee), grant limited access to up to 200 employees, and utilize special features like Express Checkout. Student Account The Student Account is a limited account that’s meant to ease adolescents (ages 13 and up) into the whole concept of managing money. Student Accounts come with a provided debit card that the student can use anywhere that MasterCard is accepted. Furthermore, Student Accounts are linked to a parent account (the account type can be any of the ones discussed above), allowing the parent account to monitor all activity and set spending limits. A parent account can have up to four Student Accounts tied to it. Account Verification As with most online interactions that involve money, PayPal scammers are not uncommon — and they exist on both sides of the line as buyers and sellers. If you’re buying, you want to know the seller is legitimate, and vice versa if you’re the seller, right? That’s where account verification comes into play. To verify your account, you’ll need to complete two of the following three tasks: . Link and confirm a bank account. . Link and verify a credit card or debit card. . Provide your social security number. Not only does verification increase your credibility, but it also removes the account withdrawal limit. As of this writing, the limit is $500 per month. Note: You can actually send money to friends and family without any fees, but doing so waives any buyer protections offered by PayPal, so it’s best not to use this as a loophole when dealing with actual purchases. Pushing forward! Here is a guide on how to open a PayPal account : First stage : Creating an Account 1.Visit the PayPal website or open the PayPal app. You can create an account from the PayPal homepage or from the app. You can install the app for free from your device's app store. The account creation process is largely the same for both the website and the app. 2. Click "Sign Up for Free" or tap "Sign Up". This will begin the account creation process. For business accounts, there are two different options, each of which have different cost structures and benefits. Standard accounts free, but customers must route through PayPal in order to check out. Pro accounts cost $30 per month, but you get the full control over how you want to design the checkout process. The Standard free business account is the same as the old PayPal Premier account. This account is best suited for users who do lots of buying and selling on eBay. 3. Enter your email address and create a password. Make sure that you create a strong password so that nobody else can access your financial information. Make sure that you enter a valid email address, as you'll need to use it to verify your account. 4. Fill out the form with your personal information. You'll need to enter your legal name, address, and phone number. All of this information is required in order to create your account. 5. Enter your credit or debit card (optional). After entering your personal information, you'll be prompted to enter your credit or debit card. You can enter this now or later, but you'll need to at some point if you want to verify your PayPal account. If you don't want to enter your card information now, click "I'd rather link my bank first". 6. Enter your bank account information (optional). You'll need a bank account linked if you plan on receiving money and want to be able to transfer it to your bank. You don't have to do this now if you don't want to. Just click "I'll link my bank later" to skip it for now. You'll be prompted to confirm that you want to skip the process. 7. Apply for PayPal credit (optional).Before you're taken to your account's Summary page, PayPal will prompt you to sign up for a line of credit. This is optional, and you should read all of the terms carefully before applying. If you'd rather not apply for credit, click "No thanks". Stage Two: Verifying Your Account 1. Confirm your email address. In order to receive money at your PayPal account, you'll need to confirm your email address. You should have received an email when you created your account. Click the "Yes, this is my email" button in the email message to confirm your email address. If you can't find the message, check your Spam folder or "Purchases" label in Gmail. You can have PayPal send another message from your account Summary page. Click "Confirm Email" to send another message. 2. Link your bank account. In order to send money from your bank account or transfer funds you receive to your account, you'll need to link it with PayPal. Click the "Link a bank" option on your account Summary page to get started. Sending money to friends and family from your linked bank account is cheaper than using your debit or credit card. If your bank is listed, you'll be able to enter your online banking login information to automatically link your account. If your bank is not listed, you'll need to enter your account number and routing number. You can find these on the bottom of your checks. This will take a day or two to confirm. PayPal will make two small deposits into your account, totaling less than a dollar. You'll need to enter these two values in order to confirm that you are the owner of the bank account. You'll be able to find these deposits on your online statement after 24-48 hours. 3. Link your debit or credit cards. You can use PayPal to manage your various credit and debit cards, allowing you to checkout from websites without having to enter your information each time. Click the "Link a card" option on your Summary page to add a card to your PayPal wallet. You'll need to enter the card number, expiration date, and security code. The name on the card must match the legal name you entered when creating your account. Cards are linked instantly. Furthermore, you can receive money through your email account used in opening the PayPal account. If someone sends you money, you will be notified by an email. Afterwards you can log into your account and transfer the money to your bank account by pressing the withdrawal button on your PayPal page; you then choose the bank account you wish to transfer the money into, and the amount. PayPal is well protected, and it is better to use PayPal if encryption or helping buyers to resolve disputes with shady customers is involved, because entering in your credit card directly could be risky. So, it is quite safer to use your PayPal account; that way stores can't see your actual credit card number. Another thing; if you do not have a credit or debit card, you can have your PayPal account opened by providing your account/routing number for it. Follow the steps above and you will have your PayPal account opened!