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How to do you create a PayPal Balance account?

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robertf57
Contributor
Posted on

I currently have a basic PayPal account but I'd like to begin transferring money into my account from my bank checking account and keep a balance in PayPal.  I've read that this type of account used to be called a "Cash" or "Cash Plus" account but it's been renamed "PayPal Balance."  My question is, how do I convert my basic account to a new "Balance" account?  I see lots of questions about managing one's balance account but I don't see any instructions for how a PP user actual sets up a Balance account. Can anyone give me some guidance on how to do this?  Thanks very much!

1 REPLY 1

How to do you create a PayPal Balance account?

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sharpiemarker
Esteemed Advisor

@robertf57 

When you receive a payment, you’ll be asked to “Accept the Money”. In that process, you’ll be asked to “Keep it in PayPal” or “Transfer it to your bank”. You choose “Keep it in PayPal”. You’ll have to agree to Balance Account terms and verify some personal info:

 

The required identifying information is: name, physical address, date of birth and taxpayer identification number.

 

Keep in mind, you do not need to hold a balance in order to pay with PayPal. You can pay with linked bank account, credit or debit card during checkout and PayPal will charge your selected funding source.

 

Another way is to request a PayPal Cash card:

https://www.paypal.com/us/digital-wallet/manage-money/paypal-debit-card


Kudos & Solved are greatly appreciated. 🙂

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