PayPal is an American payment service provider with more than 392 million active users. Not only that, it has an extensive network of merchants, with around 29 million merchants active on the account. On average, PayPal carries out 41 million transactions and processes about $2.5 billion every day.
With all that said and done, there are a plethora of reasons why you would want to delete your PayPal account. In this article, we will provide you with a comprehensive guide on how you can close your PayPal account on any device. But, before diving into it, we will look at some important things that you need to check before closing your PayPal account.
Here are the three things that you need to check before closing or deleting your PayPal account:
- Payoff Balance: First, complete any pending payments associated with your account. If there are any dubious payments, you should contact customer care and try to resolve the issue before closing the account.
- Withdraw Balance: To close your PayPal account, you need to transfer all your money to your bank account from the PayPal account. Or, you can ask PayPal for a cheque for the required sum.
- Make a copy of the payment history: If you close your PayPal account, you will lose all your transaction history. Therefore, take a print-out or screenshot of your transactions for future reference.
With these things in mind, you are now ready to close your PayPal account. Let’s dive into it!
Follow these simple steps to close your PayPal account in no time:
- Start by logging in to your PayPal account on any browser of your choice.
- Once you are in your account, you will see a “Gear Icon” on the top-right corner of your screen.
- Click on the “Gear Icon”. It will take you to the “Settings” menu.
- In the “Settings” menu, navigate to the Account section by clicking on the “Account option” tab.
- Here, tap on the “Close your account” option.
- When you tap on it, a pop-up reminding you of any available balance on your account will appear. If you have any reminders on your PayPal account, enter your bank details in the input fields.
- At last, click on the option “Close account” to permanently close your PayPal account.
And that’s it! Now you know how to close your PayPal account on a Mac or PC. Next, we will look at how to close your PayPal account on an iPhone or Android.
Follow these simple steps to close your PayPal account via the PayPal app on your iPhone or Android:
- Open your PayPal app and Log-in.
- In the top-left corner, you will see your Avatar icon. Tap on it to open your profile.
- Next, scroll down to the option “Close your account”.
- Open the “Close your account” menu.
- Click on the “Close Account” button.
And, that’s how you can close your PayPal account permanently via the PayPal app.
But, what will happen when you close your PayPal account?
Here are things that will happen after you close your account:
- PayPal will cancel all unresolved payment requests by itself.
- You will lose all the unused coupons and codes.
- You will not be able to reuse this account. You have to open a new account under a new email address to use PayPal again.
Also, the process of closing a business account is the same as that of closing a personal account.
With that, you have reached the end of the article. But, before we end the article, here is a question that a lot of users have asked us.
Several reasons can cause problems while closing your PayPal account. Here’s how you can resolve them.
If you have any of the three:
- Remaining PayPal balance
- Pending Funds
- Unresolved transactions issues; you won’t be able to close your account.
But, once you transfer the remaining balance to your bank account and resolve the other issues, you will be able to close your account. For more details, see the “Check these things before closing your account” section of this article.
We hope that with the help of our article, you will be able to close your PayPal account without any hiccups. If you are still having some problems, don’t hesitate to contact PayPal customer care.