How to Cancel or Close your Pay Pal Account

By Techwalla Contributor

Are you a merchant who uses Pay Pal to receive payment for your merchandise or services? Do you need to cancel your Pay Pal Account? Follow these simple steps and you'll be able to close your account quickly and easily.

Things You'll Need

  • Pay Pal Account
  • Internet Access

Step 1

Pay Pal can be a great alternative to having a regular merchant account, as set up is fast and simple. However, sometimes people outgrow their account, and find themselves ready to move onto another processor. If you need to cancel your pay pal account, the first thing you need to do is log in to your Pay Pal Account.

Step 2

You should be on the home screen. Click on the "My Account" tab.

Step 3

Click on the "Profile" subtab. There is no need to scroll through the options you see; simply click on the actual words; it is a link.

Step 4

Click the "Close Account" link found in the account information column.

Step 5

Follow the instructions provided. You may simply receive a confirmation message that your account has been closed successfully, depending on your current account standing. If you owe money or your have disputed items pending, you will be unable to close your Pay Pal account until they are resolved.

Step 6

Once your Pay Pal account has been closed, you might want to consider looking into getting a regular merchant account for your personal or business banking needs. Merchant accounts have competitive rates that are usually much cheaper than Pay Pal, and can provide you with a lot of great perks that you didn't have before. Just be sure to research and compare some of the merchant account set up fees, and gateway charges before you commit to one company.

Tips & Warnings

  • Tip: You will not be able to close out the account if you have any outstanding authorizations or transactions pending on the account.