Published on : 23 June 20203 min reading time
E-commerce site owners who wish to receive the total amount of purchases made in their virtual stores must open a PayPal account. Customers are not required to have a PayPal account as the online payment system will act as an intermediary between customers and the store manager 2.0. Owners of an e-commerce site must open a PayPal account and then associate it with a bank account in order to synchronize it.
Individuals and Business: steps to follow to register a bank account with a PayPal account
The procedure for registering a bank account on the PayPal account as an individual is simple. Simply access the portfolio and click on Save to Bank Account. You will then have to enter the required information and continue the operation by validating this data by clicking on Continue. All that remains is to let yourself be guided. It should be noted that since June 10, 2014, individuals can no longer synchronize a Payoneer account with their PayPal account. The reason is simple; Payoneer accounts are not considered bank accounts.
Opening a PayPal Business account allows you to make purchases, send or receive money. To register an active bank account on this type of account, you will need to go to My Money, click on Register a bank account in the Bank account section. Do not forget to add the IBAN before clicking on Register a bank account.
Confirm a bank account
Confirming a bank account is done by going to the Portfolio section and logging into your account. After selecting the bank account you wish to confirm, simply click on Confirm and 2 small amounts between 0.01 and 0.99 € will be credited to the bank account. This transaction will be mentioned on the bank statement within 1 to 2 business days.
This bank protection measure provides the necessary code for account confirmation. After having read the 2 amounts, you will have to enter them in order to confirm the bank account. It should be noted that there is an insurance system that automatically deactivates a bank account when you enter the two amounts incorrectly 3 times.
Why register a card in a bank account on a PayPal account?
Registering a bank account or credit card on a PayPal account simplifies payments in a secure way. Transactions are only made with the email address and password. Those who wish to make a payment, but who do not have enough funds on the PayPal balance will still be able to validate the transaction. The missing amounts will quickly be covered by the bank account attached to the PayPal account.