Do you have a PayPal account that you no longer use? Close the PayPal account rather than leaving it idle. The method is quite simple. And most importantly, you will avoid possible custody fees charged by PayPal! In this blog, we will teach you how to close a Paypal account step by step
PayPal is a secure and reliable payment method for transferring small amounts of money to friends and family or shopping online. Creating a PayPal account associated with a card or a bank account only takes a few minutes. But if you find that you end up using very less and you want to close it.
How to stop automatic payments on a PayPal account?
Have you used your PayPal account to purchase subscriptions online by assigning it as a debit account? Stop trading.
- Using your web browser, go to the PayPal website. Enter your username and password to access your Paypal account. On the page that appears, click on the cogwheel (Settings icon) at the top right to access your account settings.
- On the screen that appears, click on the Payments tab on the blue banner.
- A new screen presents itself. In the Manage your automatic payments section, click the View link.
- A list of all merchant sites and other online platforms that use your PayPal account is displayed on the screen.
- Click on the name of any one of the brands. The information related to the brand is displayed in the middle of the page. To unlink it from your PayPal account, click the Cancel button next to Active.
- Confirm the transaction by clicking on the Cancel automatic payments button. Repeat for each and every brand that uses your PayPal account for payments.
How to empty my PayPal balance?
If Your PayPal balance contains money that is yours. For example, it can come from transfers you have made previously to fund your account or refunds from online merchants. Before closing your account, collect the balance.
- Go to the home page of your PayPal account. Click Transfer Money button in the PayPal Balance section.
- If, when creating your account, you linked a bank account to your PayPal account, it will appear on the next page. If you are only associated with a bank card, you will need to add your bank account. To do this, click on + Add a bank account. Then follow the procedure to provide the necessary information such as the IBAN code provided by your bank (to be entered without space) then validate.
- Click the Next button on the screen that appears. PayPal informs you that it may take several days to transfer money to your bank account.
- On the screen that appears, confirm the amount to be transferred by clicking the Next button.
- Finally, click on the Transfer button.
- Your PayPal balance is now at zero. You can close your Paypal Account Now.
How to close a PayPal account?
Is your PayPal balance at zero? Are your automatic payments canceled? now you can close your PayPal account with peace of mind.
- On the home screen of your PayPal account, click on the cogwheel (settings icon) at the top right of the screen to access the settings.
- On the screen that appears, activate the Close your account link at the bottom of the Account options section
- PayPal informs you the consequences of the transaction. Click the Close Account button.
- This is the end of it. Your PayPal account is closed. You will then receive an email to the address associated with the Paypal account informing you of the success of the operation.
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