When looking for ways to make and receive payments, many businesses look to PayPal as their answer.
But PayPal is only good for a certain amount of time as your business begins to grow. In addition, you may find that some of the services and features available on PayPal business are not meeting your requirements.
It’s at this time you may be considering removing your business from PayPal. The process is quite simple. First, you need to navigate to your business account page and then find settings and under there, look for the tab that says close account.
Follow the prompts, and you will see that your account has been removed. Though that seems like an easy solution to your problem, there’s so much more that you should consider before actually hitting that delete button.
So in this Quick guide, We will walk you through everything you need to know about removing your business from PayPal.
How to Get to Your PayPal Settings?
The first step of the process is simple: you have to find your PayPal settings. To do this you’re gonna go to your main business account page. There you’ll find the tab that says profile, and once you do that, you’ll be able to find another tab that says my settings.
It’s relatively simple to find, and once you find it, the next couple of steps in the process are quite simple and easy to navigate.
But, of course, if you get hung up on any of the steps or have issues with your system, you can always reach out to PayPal’s customer support, and they should be able to help you.
How Long Does it Take to Remove It?
As you begin the process, you may be considering the time needed to do it. Of course, the actual process itself takes little to no time.
But before you do that, there are a couple of things that you should do beforehand. One, you need to save a copy of any transaction history and course and fix any issues. So the entire process of actually closing your business PayPal account takes only a few minutes.
But the preparation may take a little bit longer. You want to ensure that you have everything in line, so there are no hiccups when completely removing your business account.
Do You Delete It Permanently?
A big question, though, is whether you want to permanently delete it or simply downgrade it to a personal account. Of course, this is completely possible to do. If, however, you decide to delete it permanently, it will be gone forever.
That means if you’re looking to reopen one later, you’re going to have to do it with and do the entire process over again. So before removing your business from PayPal, maybe take a few seconds to determine if that is the right move for you.
What Should You Know About It Before You Start?
Before you get started with the process of removing your business from PayPal, you’re going to want to do a few steps. Here are a couple of things that we suggest you do before you actually start the process:
- Copy your transaction history
- Fix any unresolved issues that are
- Pay off any payments that may be tied to the account
- Move the balance of your money into your bank account
When it comes to understanding the process, once you do this, it will be gone forever. That means as we said above, if you opt at a later time, you ought to retie your business to PayPal. After that, you will have to start from scratch.
Can You Just Switch to a Personal Profile?
Maybe the better option might be just to take that PayPal account and switch it to a personal profile.
The process to do this is even more simple than actually deleting your account. It also allows that count to stay open and gives you the ability to change it back to a business account and a later date if you feel the need to.
To do this, all you have to do is navigate to your profile, find the settings and change it to a personal account In the section labeled my account. That’s all it takes to move a business profile to a personal profile.
Final Thoughts on Remove Business From PayPal
Many reasons a business may decide to remove itself from using PayPal. The biggest may be that they have grown and need more features than PayPal affords them.
The process is simple and painless as long as you do the pre-work of ensuring you take care of the account and any outstanding issues before hitting that delete button.