As a project creator, you need a PayPal account to receive contributions from your backers (including contributions made by credit or debit card from 193 countries).
Fortunately it is easy and free to set up a PayPal account. It is also free to withdraw funds from Paypal to your bank account.
To accept contributions to your PayPal account, you need to meet three criteria:
- Your PayPal account needs to be Verified (bank account added)
- Your email address must be Confirmed (email address confirmed with PayPal)
- Your account must be capable of accepting funds in your campaign's funding currency
In addition, to accept credit and debit card payments from backers:
4. Your PayPal account must be a Premier or Business account (both are free)
Here are instructions on how to enable each element:
1. How to get verified. Depending on your country, it may take several days for your account to become verified, so please make sure to plan accordingly. If your account is pending verified status with PayPal, you will not be able to receive contributions via PayPal on your campaign.
2. How to confirm your email address
3. How to activate your funding currency:
- Log in to your PayPal account and go to 'My Account ' > 'Profile' and click 'My Money'
- Under the 'Financial Information' section, click on 'Currency Balances'
- Select your funding currency (e.g. Australian Dollars) from the 'Select new currency' drop-down menu
- Hit the 'Add Currency' button
4. How to upgrade to PayPal Premier or Business (it's free):
- Log in to your PayPal account and go to 'My Account '
- On The 'My Account page', click 'Upgrade' (next to Account Type)
Upgrading to Premier takes a few seconds only. However, in some jurisdictions a Business upgrade may take a few days, which is why we recommend you upgrade at the beginning of your campaign in order to avoid delays in funding. Upgrading also has the advantage of lifting restrictions that PayPal may have applied to your account (e.g. maximum amount that can be collected or withdrawn).
Charities and non-profit organisations are entitled to reduced PayPal fees (1.4% + £0.20 per transaction). Find out how to claim reduced PayPal fees here.
Please note that if you receive an error message that states that your country is not enabled to receive payments, your PayPal account may be located in a country that PayPal is unable to receive funds with. For a complete list of country-specific PayPal restrictions, see: www.paypal.com/worldwide