PayPal is a free online payment platform and financial service. It’s a quick, safe, and secure way to transfer or receive money through an online account. PayPal may be used for both personal and business purposes because it allows you to pay for things and even open a merchant account.
While having a PayPal account is advantageous, you may want to remove it for a variety of reasons. If your account has been hacked, you wish to switch to another online payment platform, your account is for a business that is no longer functioning, or you simply want to create a new account with a different email address, you can do so.
However, there are some important things you need to know before deleting or closing your PayPal account.
Important things to check before deleting your PayPal account
- Pay off balances: Before initiating the deletion process, you must complete or resolve any pending payments or issues associated with your account. If there are any unauthorized transactions, you may even contact customer service for the same.
- Withdraw money: You will not be allowed to close your PayPal account if you still have money in it. Therefore, you need to first transfer your PayPal balance to any bank account or another PayPal account. You can even ask PayPal to send you a cheque for the said amount.
- Create a copy of your transaction history: You must keep in mind that once a PayPal account is closed, then all the transaction history is gone forever. Therefore, it is important for you to keep a record of your transaction history (screenshot or take a printout) in case you need it in the future.
Steps to delete your PayPal account
Step 1: Log in to your PayPal account using a laptop or computer. You cannot delete a PayPal account using a smartphone.
Step 2: Click on the gear icon given in the top-right corner of the screen. This will open the ‘Settings’ menu.
Step 3: In the Account section under the ‘Account options’ tab, click on the ‘Close your Account’ option.
Step 4: As you click on it, you’ll be reminded if you still have money in your PayPal account. You’ll also be prompted to use or transfer it before deleting your account permanently.
Step 5: Now, enter your bank details carefully in the input fields.
Step 6: Lastly, click on the option ‘Close Account’ to delete your PayPal account permanently.