How to set up a paypal account to receive money from anyone

• It's free to set up a PayPal account, and it only takes a few minutes.
• PayPal allows you to send and receive money from friends and family, or as part of a business transaction. 
• Money in your PayPal account can be transferred to your linked bank account.

PayPal is an online payment system that's been around since 1998, making it easy to send and receive funds to people located anywhere in the world for a small fee — or no fee at all if the money is going to or coming from a friend or family member in the US. 

The service has made it secure and easy to buy and sell things online and is heavily integrated into sites like eBay and other e-commerce businesses. 

If you don't yet have a PayPal account, but would like to set one up, doing so is free and should only take a few minutes. Once you're set up, you'll be able to add banking information to make sending and receiving money easier than ever. Here's how to do it. 

How to set up a PayPal account

1. In your computer's internet browser, navigate to https://www.paypal.com 

2. In the upper right-hand corner of the screen, click "Sign up." 

3. On the following screen, choose whether you're setting up a business or personal account. If you're simply using this to buy and sell on eBay for instance, or to send money to a family member or friend, you'll want to choose "personal" here. Click "Next."

4. On the next page, you'll be asked to enter your legal first and last name and your email address as well as to create and confirm a password. When finished, click "Next." 

Next, you'll need to enter your mailing address as well as your phone number. When you've completed this information, which is mandatory, click "Agree and create account" and your PayPal account will be created. 

How to add a bank account or credit card to your PayPal account

In order to make use of PayPal's ability to send and receive money, you'll need to connect a bank account and/or credit card to your account. To do so, log into your account and then follow these directions. 

1. On the summary screen, click the "Wallet" option in the menu bar running along the top of the screen. 

2. On the menu running down the left side of the screen, click the "Link a credit or debit card" if that's what you'd like to use with your account. Alternately, if you want to connect your bank account itself, click on the "Link a bank account option." Note that it may be worthwhile to do both to create a source of backup funding in future. 

3. Enter the card or bank information you wish to link to your PayPal account and click "Link card" for debit cards or "Link bank account" if you're using that option. 

Note that if you're adding a bank account, it will take two to three days for the process to complete as PayPal will deposit small amounts into your account that you will have to enter via the PayPal website to confirm you own the account. 

Related coverage from Tech Reference:

• How to refund a payment on PayPal in 4 simple steps

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• How to add money to your PayPal account, so you can transfer money or pay bills immediately

Jennifer is a writer and editor from Brooklyn, New York, who spends her time traveling, drinking iced coffee, and watching way too much TV. She has bylines in Vanity Fair, Glamour, Decider, Mic, and many more. You can find her on Twitter at @jenniferlstill.

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• You can receive money on PayPal from friends and family, or from someone buying a product or service you're offering, as long as the sender has your PayPal email address. 
• After you receive money on PayPal, you can transfer all or some of it to your connected bank account in just a few steps. 
• Visit Business Insider's homepage for more stories.

PayPal is incredibly useful for completing online purchases securely. 

But what if you want to receive money from a friend or family member, or even someone wanting to purchase a product or service you're offering? 

Turns out, receiving money on PayPal is just as easy as sending it. 

How to receive money on PayPal

To receive money on your PayPal account, you'll just need to provide the sender with one key piece of information: the email address your PayPal account is registered under. 

That's it — the sender enters your email address into a field in their PayPal account and chooses how much they want to send, and then it will head your way. You will get an email alert when you've received money. 

However, once you've received the funds, you may want to transfer it to your bank account. Here's how to do that. 

How to transfer money from PayPal your bank account 

1. Log into your PayPal account. 

2. On your Summary page, click the "Transfer Money" button just beneath your PayPal balance. You can also access this option via the "Wallet" menu in the top toolbar.

3. Click "Transfer to your bank." 

4. If you have multiple bank accounts or cards linked to your PayPal account, choose which one you want to transfer your money to, and click "Next." 

5. Enter the amount of money you want to transfer to your bank, then click "Next" again. 

6. On the next page, you'll be asked to review your transfer. If all the information shown is correct, click "Transfer [your amount here] now." Your money will then be transferred to your account.

Related coverage from How To Do Everything: Tech:

• How to change your PayPal password to keep your account secure, or reset the password if you've forgotten it

• How to transfer money from PayPal to your bank account for free, in 2 different ways

• You can use most credit cards on PayPal – here's how to add a card and link it with your account to make purchases

• How to refund a payment on PayPal in 4 simple steps

Jennifer is a writer and editor from Brooklyn, New York, who spends her time traveling, drinking iced coffee, and watching way too much TV. She has bylines in Vanity Fair, Glamour, Decider, Mic, and many more. You can find her on Twitter at @jenniferlstill.

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