You can only remove the PayPal account by using computers or laptops but not on a mobile device.
Before deleting the money, all remaining funds must be removed, and any outstanding issues addressed.
The process of deleting a business PayPal account is similar to the deletion of a personal PayPal account.
PayPal is a no-cost online platform that allows you to send and receive cash. Although it’s beneficial that you keep the Account active if you intend to utilize it in the future, you might want to remove it for various reasons.
If you’ve changed to a different platform, such as Stripe or Venmo or Venmo, if your Account was compromised or if the Account is for a business not in operation, or if you’re looking to create another account using an alternative email address, It could be the right time to remove PayPal.
Whatever your reason, deleting accounts for personal use is similar to deleting a report for business.
Why would you want to remove the PayPal account?
There are many reasons for you to decide to close your PayPal account. You may have a company account, and your company is shutting down. You may have shifted to a different provider account, such as Venmo or Wise. Would you like to sign up for a separate account with an alternative email address? There is also the possibility of being opposed to the small number of fees that apply to specific actions or being a tinfoil hat wearer who would like to keep his financial information secret.
Whatever the motive, it’s a great option to remove the PayPal account, even if you don’t intend to use it again. PayPal is safe. However, you must be aware of any website on which your financial and personal information is displayed, and be cautious.
Before deleting your PayPal account
Closing your bank account can be simple; however, there are a few steps to take before closing your Account.
Copy your transaction history
After you delete your Account, there’s no chance to restore it. The Account is gone forever.
There is the option to utilize the same or different email address to open multiple accounts, but the data of the Account you originally signed up for will be lost. Creating a backup of your transaction history for your files is a good idea.
Move your PayPal Balance
When closing the PayPal account, you must maintain a zero PayPal balance. Transfer the money from your Account to another PayPal account, or move the money directly to your banking account. You can also request a paper check, which will incur an additional $1.50.
If you’re not in a hurry for time, you can withdraw money from your bank account that you linked with a regular withdrawal. If you’re not, you’ll have to select the instant withdrawal option, which will cost 1.75 percent of the withdrawal amount.
A different option would be to use the remaining funds. You can buy online or donate the money to charities that take PayPal.
If you decide to convert, be sure to keep in mind that PayPal also charges hefty charges for currency conversion, ranging from three to four percent. When your account balances are an alternative currency to USD, you’ll be required to pay for this cost when you convert it to withdraw.
How to Close Your PayPal Account
After you’ve stored a copy of your transaction history, resolved any remaining issues with your Account, and accumulated the entire amount of your PayPal balance, it’s time to begin to close your PayPal account.
Although closing your Account will be permanent, it’s a short process. The entire process only takes a couple of minutes. The method you’ll need to follow differs for personal accounts and business accounts.
How can you erase your PayPal account permanently?
You can end your PayPal account through the PayPal application on your tablet and smartphone or even on your computer via the PayPal website. We’ll walk you through both options in the following article:
Log into your PayPal account from any web browser.
Click the gear icon in the upper right corner to see your Account settings.
Under the tab Account, Click on Account, scroll to the bottom, and click to close your Account.
Lastly, press the button to close your Account in the displayed pop-up.
Launch the PayPal application and sign in.
Tap the profile icon on the left-hand side of your screen.
Scroll down, and then tap to close your Account.
Finally, hit Close Account.
If you have an account for business and are trying to delete it from your mobile device, You’ll need to click the icon on your profile > Account Info > Close Your Account. This is just that you have to take an additional step.
When your PayPal account has been closed, it will be impossible to see your transaction history or make a request to transfer funds using the Account to any other PayPal users.