PayPal is an easy and secure way to complete transactions online, whether to send roommates your share of rent or pay for purchases made online. If you’re not happy with using PayPal, however, whether because of the time it takes to withdraw your balance to your bank account, purchase fees, or holding times to clear a check, you may want to close your account. If you want to close your PayPal account, PayPal has made this process just as easy as using PayPal.
To close your PayPal account, make sure you are first logged in to PayPal and then click on the My Account tab. Then, on the row underneath the main tabs, click on Profile. Then, select More Options from the dropdown menu. On the left side of the next screen, chose My Settings, which will allow you to select the status of your account. At the top of the next page you will see your Account type, and to the far right an option to Close Account. If you are ready to close your PayPal account, click this link to start the process of closing your PayPal account.
Before you can close your PayPal account, though, PayPal will ask you a few security questions to confirm that you are in fact the owner of this PayPal account, which helps prevent others from fraudulently closing your account and potentially stealing any remaining balance. You’ll need either the credit card connected to the PayPal account, bank information about the checking account connected to the PayPal account, or if you have a PayPal debit card, information about that card. You will then have to confirm you do want to close your PayPal account. If you have a remaining balance in your PayPal account, it will be mailed to you as a physical check to the address you specified in your account.