What Do I Need to Set Up a PayPal Account?

Email Account and Password
PayPal requires an email account to register an account and receive updates and alerts. The email address will also serve as your username. As long as the email address is valid, it doesn't matter whether you set up an account through a free email client or a paid one. Depending on your client's spam filter settings, you may need to transfer the initial PayPal welcome email from the spam folder to your inbox. You must also create a PayPal password that is a minimum of eight characters. There is no requirement to add numbers or create a case-sensitive password, but doing so adds an additional layer of security to your account.
Personal Identifying Information
During the registration process, you must enter your name, address, ZIP code, social security number and other identifying information. You will also need to enter a valid phone number, in the event that PayPal needs to call you. PayPal will typically not call users unless the person's account is hacked into or the person owes an outstanding balance. Additionally, if you are setting up a business account, you must enter a business name and other information associated with the business, such as average monthly revenue and the date the business was created.
Bank Account
PayPal requires only an email account and your personal or business information to sign up for an account. If you want to become verified or use PayPal as a means to purchase items, you will need to link your bank account. PayPal defines a verified user as someone who has passed PayPal's security checks. A verified user essentially provides reassurance that the user isn't going to commit fraud by stealing a buyer's money or intentionally sending him the wrong item. Linking a bank account consists of entering your bank account and routing number. You can then fund your PayPal account or use your bank account as the direct source of funds when you purchase an item with your PayPal account.
Credit or Debit Card
Similar to a bank account, a credit or debit card is not required by PayPal, but you can use it as either a backup or primary source of funds. Your name, the card number, expiration date and security code are required to add a new card. A credit or debit card does not verify your account, and you cannot add funds to your PayPal account with a credit card.