What Is PayPal?
PayPal is an electronic commerce company that facilitates payments between parties through online transfers. PayPal allows customers to establish an account on its platform, which is connected to a user’s credit card or checking account.
How To Create Paypal Account In Uganda
Before we get into setting up an account, you need to decide which kind of PayPal account you want to create. There are two types: personal and business, and they each have specific benefits and ideal uses.If you want to send money to friends or do online shopping, a personal PayPal account is all you need. This is the most accessible type of account to set up, and it’s the correct choice for most users.The other type of PayPal account is specifically for businesses. Choose this option if you want to sell products online and accept debit/credit card payments for a small fee. Business accounts also allow up to 200 employees to access the account, and they offer some other unique benefits.
Let’s start with the basics. To set up a PayPal account, visit Paypal’s website and click the Sign-Up button in the top-right corner of the screen. Now choose the account type you want: Personal Account or Business Account. Pick Next when done.You’ll be asked to input a phone number. After that, you’ll fill out the form that includes your name, email address, and password. Hit Continue and then fill out the second form by selecting your nationality and typing in your address, and any other required info. PayPal will create your account the second you hit Continue, but you’re far from done just yet.To start using PayPal, you need to add your debit, credit card, or bank account. This will link your account to a bank account so you can deposit or withdraw money. This is technically optional, but without it, your account will be severely limited.The last step in this process is to verify your email address by clicking the link in the email sent to you. Below we’ve listed the complete list of steps in brief for your reference.
How to verify an account
For safety reasons, you will need to verify your PayPal account before you start using your funds. This is done by linking a bank account or credit/debit card. To do this, go to PayPal.com and click on the Pay & Get Paid tab. Under Wallet, select Bank & Cards. Select the bank account or card you want to verify.If you’re using a credit or debit card, the next step is to check PayPal’s charge on your credit card statement — it’s a four-digit code — and use it to verify the card. You can also check the charges live, using your bank’s app. Just go back to Banks & Cards, select the card you want to verify, enter the four-digit code, and then click Confirm. That’s it: you can now use PayPal to send and receive money.The process for bank accounts is actually more straightforward. PayPal will ask which institution you bank with, and then you can log in using your banking credentials. The system will do the rest in the background.
You can also add a bank account manually, and that process is more or less the same as with cards, with the most significant exception being that PayPal will make two deposits to your bank account in random amounts between Ugx 3554.98 and Ugx 7109.96. Once that happens, you have to enter these two amounts to verify your bank account, the same as you entered the four-digit code to confirm your credit card. And to answer your next question, no, you will not be able to keep the money deposited by PayPal sorry about that.Once again, below we’ve listed the step-by-step instructions in brief.
How to verify a PayPal account:
- Go to PayPal.com and log into your account.
- Hit the Pay & Get Paid tab.
- Under Wallet, select Banks & Cards.
- Select the bank account or card you want to verify.
- Check your bank account or credit card activity for PayPal’s deposit.
- You can also use the automated system to link your bank account without looking at deposits.
- Confirm your account using either the 4-digit code (for cards) or two deposit amounts (for bank accounts).
If you want to add another card or bank account to your PayPal account at a later date, you’ll have to verify that as well. Another thing to note is that PayPal can request a form of identification from you at any given time. This often happens once a certain amount of money passes through your account. It varies depending on the country you live in, but it’s mostly a way to avoid fraud and tax evasion.