Setting Up Your PayPal Account
Considerations Before Setting Up A PayPal Account:
- If you anticipate a lot of transactions, consider creating an email address exclusively for your PayPal account. Access to this email address will be required to complete the PayPal set-up.
- Decide who will have access to the PayPal account.
- How often will you make transfers from your PayPal account to your checking account?
You will need the following information:
- Federal Tax ID#
- Primary Contact Information & SSN
- 2.9% plus $0.30 USD per transaction for business accounts
- 2.2% plus $0.30 USD per transaction for eligible nonprofits
- Additional fees for credit card transactions may apply
- PayPal does not allow payments to and from India. (October 2011)
- Choose passwords carefully
- Include numbers and letters
- Passwords should be changed anytime your account administrators change
Step 1 - Setting Up Your PayPal Account:
- Log-In to PayPal
- Select “Create a Business Account”
- At Select Payment Solution, choose “Website Payments Standard”
- Business: for nonprofits make sure to select “nonprofit organizations”
- Complete the information regarding passwords and your chosen security question.
- Once your account is established, you will receive an email that will be needed to verify your account.
- Go to “My Account”, select “Profile”, select “My settings”: confirm that the Time zone is correct
Step 2 - PayPal Account Verification:
Once you have completed the initial online set-up, you are going to be asked to verify your account and to verify that you are a nonprofit. It can take 2 – 3 weeks to have your account verified. Be prepared to provide one or more of the following for verification:
- Voided Check/Bank Statement
- A copy of a voided check to show that you’re authorized to make transaction on behalf of this business
- Proof of Tax Exempt Status
- Proof of nonprofit status – the 501c3 determination letter
- Organization and payment information (possibly your by-laws)
Step 3 - Connecting PayPal to Your Membership Toolkit Account:
To connect your PayPal account to your Membership Toolkit account, you must complete the payment information under Payment Configuration.
First, you will need to add the API Credentials from PayPal. See our Help Desk Solution: Paypal API Signature for step-by-step instructions.
Once you have your PayPal API credentials you are ready to paste these into your Membership Toolkit account. Only administrators with Account Owner status will have access to your Payment Configuration. See our Help Desk Solution: Adding the PayPal API Credentials to Your Membership Toolkit Account for step-by-step instructions.
When you have a new officer(s), you must transfer your administrators on your bank account and PayPal account!
Membership Toolkit does not store or see any of your financial transactions. These are handled between you and PayPal. PayPal handles the financial transaction for you. You will not have access to your customer’s credit card information.
Membership Toolkit provides information about setting up your PayPal account as a service. Please refer to PayPal for the current and most accurate information.