How to Close PayPal Account
PayPal is one of the largest payment services on the internet. Approximately 400 million people have an active account on PayPal. There are two methods to stop a Paypal account, by deleting it, and by deactivating it.
Deactivating your PayPal account won’t delete it. You can reactivate the deactivated PayPal account anytime.
Should I delete or deactivate my Paypal account?
It depends on your situation if you will use your Paypal account sometime in the future. You should deactivate it. If you won’t use the Paypal account in the future, you can delete it completely.
How to Close PayPal Account
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You cannot delete your Paypal account if:
- You have issues on your account: If you have an issue on your Paypal account, you cannot close it. You can request a manual check on your matter. That way, they will fix the problem fast.
- You have a negative balance on your Paypal account: Having a negative balance on your Paypal account will not allow you to close your Paypal account. You have to clear the negative balance with some funds.
- You have remaining Paypal balance: If you have remaining Paypal balance, make sure to withdraw it. The withdrawal process will take a few hours. However, the money will take about three days to reach your bank account.
What should you do before closing your Paypal account?
Before closing your Paypal account, have a look at your funds. Make sure you have zero dollars on your account. Keep in mind, once you close your Paypal account you won’t get it.
Once you are all cleared and good, follow the step by step process below and close your Paypal account.
For personal Paypal accounts, follow the below steps.
- Login to your Paypal account: This is a simple step, log in to your Paypal account. Make sure to log in to the account that you want to delete.
- Click on the settings menu: After you log in, you will find a settings icon close to log out. Click on that settings icon.
- Click on close your account: On the settings page, you will see account options. Under the account options, you will find a link to close your account. Click on close your account, it may ask for some details. Enter if necessary and done.
How to close a Paypal business account?
There are two types of Paypal account, business and personal. To close a business account follow the steps below:
- Login to your Paypal account.
- Click on the settings icon next to log out.
- Click on account settings.
- You will find a link to close your account on the right side of the account type.
You are all done. You have successfully deleted your Paypal account. You won’t be able to access your Paypal account or do any transactions. You can create a new Paypal account with a similar email. However, your new Paypal account won’t have any details from the old one. I hope the question How to Close PayPal Account? has been solve right?