How to Cancel a PayPal Account

By Loraine Alkire

Canceling a PayPal account is a relatively easy task. If you've ever had to cancel a checking account, you already know some of the steps involved. Ensuring that all transactions either coming into your PayPal account or going out of your PayPal account have been completed will be the step that requires the most thought.

Things You'll Need

  • Internet access
  • Your account name and password
  • Bank account number used to open the PayPal account

Step 1

Log into your account with your email address and password. If you have forgotten your password it can be retrieved and sent to the email account you used to open your PayPal account.If you have forgotten which email address you used, go to the PayPal homepage and click on "forgot email address." When you signed up for the account you gave PayPal pertinent information about you, your address and your bank account. If you answer these questions correctly you will be supplied with your PayPal account email address.

Step 2

Pay outstanding debt. See if you have any outstanding payments that have not been made by you that are owed to another person. All outstanding debt must be paid before you can close your PayPal account. If there is a transaction in dispute, it must be resolved or PayPal will not close your account.

Step 3

Receive all payments. Go through your records and search for payments that may still be due to you. If you have a balance when you close the account, PayPal will mail it to you or transfer it to your bank account. You cannot transfer funds to a credit card, however.

Step 4

Understand that when you close your PayPal account it may never be reopened in that name again. You may still open a new account if the name needs to be changed for some reason.

Step 5

Click on "My Account" and then on "Profile." Then select "Account Information" and "Close Account." Before the account can be closed you will be asked to confirm that you are the owner of the account through one or more questions, the first being your bank account number under which you opened the account.

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