PayPal Setup for Kids
Setting up Paypal is nearly a MUST for any kids who want to earn money online. Generally money is transferred through payment processing sites such as Paypal when dealing with cyber purchases. Kids need to have a payment processor if they are working online. There is one small obstacle to this though: parents have to help you. Unless you’re 18, you cannot create your own Paypal account, as per the PayPal user agreement. This is not a huge issue though!
Getting Your Parents to Help Setup Your Kid’s Paypal Account
Once you have the need to get a Paypal account, you will need to get your parents to sign up. They will need to have a bank account as well, because this is how you get your money from Paypal. It takes about 3 days to wire the funds to the bank in order to use them. Your parents can report all of this income themselves, and simply monitor your account activity on Paypal as needed.
What Can Kids Do with Paypal?
If you are the only one using the Paypal account, you can use your funds as you wish. Of course you will need to receive your earnings first in order to spend money. You can wire the money into the bank account, you can purchase that awesome iPhone 6 or the newest Samsung Galaxy, maybe you want a new video game for your Playstation 3 or for your X-Box One, or you could even reinvest the money and pay for services online. The options are limitless!
Using PayPal with Ebay
If you intend on selling things on Ebay, you will definitely need a payment processor account. Ebay will charge fees for the items you sell, from movies and books to decor and pet supplies. Everything will have a fee based upon the sale price. Ebay seriously comes in handy though as you have access to one of the biggest masses of online consumers that has ever existed. It’s a powerful platform, and no kid should underestimate its ability!
What Else Needs Paypal?
For the most part, you will find that many buyers tend to send payment via Paypal. End consumers (individuals like you and me) will almost always use this service to pay people for goods and services. While kids will need to use their parents’ account, anyone over the age of 18 can quickly and easily use this service to transfer money between themselves and others, as well as between their bank accounts and the account that they have on Paypal. The service is well advertised, trusted by hundreds of millions of people, and it has been around for quite a long time. Therefore, you can expect most people to pay through this avenue. Checks and money orders? Those days are almost long gone as it takes days to successfully transfer a payment that way; this service provider makes it instantaneous. It’s also a great way for people to make impulse buys online, especially for that cool, handcrafted pair of earrings or repurposed clothing that you have made to give to their family members for Christmas!