Due to the convenience, everyone wants to use online financial tools, such as PayPal, all around the world.
Therefore, if you currently live in Canada you are probably wondering if you can use PayPal and how it works? I’ve researched PayPal’s operations in Canada and this is what I have discovered!
Does PayPal Work in Canada In 2023?
Fortunately, PayPal’s services fully operate in Canada as of 2023. Therefore, using this service you can send and request money to and from friends and family, send payments to sellers, transfer money to and from your PayPal account, bank account, and more.
If you are curious about learning how to create a PayPal account, how to link your payment options, and how to transfer money, all while being in Canada, then keep on reading!
How do I Create a PayPal Account in Canada?
To create a PayPal account in Canada:
- First, go to PayPal.com and click “Sign Up”
- Second, select either a Personal account or a Business account and click “Continue” or “Sign Up Now”
- Then, you will be asked about the “country/region” that you live in
- After, you will be asked to enter your phone number
- Following, PayPal will send you a 6-digit code to enter to confirm it is you creating the PayPal account
- Next, enter the rest of the information PayPal needs
- PayPal will ask for your first and last name, email address, and billing address
- Then, there will be a check box next to PayPal’s Policies that you need to check
- Finally, click “Agree and Create Account”
Additionally, PayPal has a home page for each country/region that has PayPal, therefore, when going to PayPal.com you can go to PayPal Canada.
Furthermore, after your account is created you can receive payments from anyone.
However, to send money or payments you will need to link payment methods such as your bank account or a credit or debit card. ‘
Therefore, to link and confirm your bank account to your Canadian PayPal account:
- First, if not already, log in to your PayPal account
- Second, click “Wallet” and then click “Link a bank”
- Next, choose your bank
- Then, choose to link your bank account “Instantly” or “In 3-5 days”
- “Instantly” means you will link your account through your online baking information and it will also instantly confirm your bank account
- “In 3-5 days” means you will have to manually enter your bank account information and manually confirm your bank account which will take 3-5 days
- Lastly, follow the directions to finish linking and confirming your bank account based on which option you chose
Additionally, if you can’t find your bank account when trying to link them:
- Click “Don’t see your bank?” located at the bottom of the screen
- Then click “Checking” or “Savings”
- Next, enter your bank’s transit number, institution code, and account number
- Last, verify that your information is correct and click “Agree and Link”
Furthermore, you can also link your debit or credit card to your Canadian PayPal account:
- Firstly, as always, make sure you are logged in to your PayPal account
- Secondly, click “Wallet” and then click “Link a debit or credit card”
- Finally, follow the directions PayPal gives to finish linking your card
Moreover, once your card is linked to your PayPal account you can begin using it unless you see “Confirm your card”, if you see this it means you have to confirm your card before using it.
Therefore, if you have to confirm your card:
- Start by making sure you are logged into your PayPal account
- Next, click “Wallet” and then click the card that you need to confirm
- Then, click “Confirm Card” read the information on the “confirm credit card” page, and click “Ok”
- After, PayPal will send a small refundable charge to your card that will have a 4-digit code with it
- Once you receive the 4-digit code, log back into your PayPal account and go to “Wallet”
- Then, again click the card that you need to confirm
- Finally, enter the 4-digit code and click “Confirm”
Once this is all finished you can now use your PayPal account to send and receive money, as well as withdraw money to and from your bank account and PayPal account.
How do I Transfer Money with PayPal in Canada?
If you have linked your bank account to your PayPal account you can withdraw money from your PayPal balance to your bank account and you can transfer money from your bank account to your PayPal balance.
Therefore, to withdraw money from your PayPal balance to your bank account:
- Standard transfer
- As always, make sure you are logged in to your PayPal account
- Next, click “Transfer Money”
- Then, click “Transfer to your bank”
- Following, choose your bank account and click “Next”
- Then, put in the amount of money you want to transfer and click “Next”
- Finally, review the detail and click “Transfer ($) Now”
Additionally, standard transfers take 3-5 days to process and there are no extra fees
- Instant transfer
- Once you are logged in to your PayPal account click “Transfer Money”
- Then, click “Transfer to your bank”
- After, choose your eligible debit card or bank account located under the “Instant” sanction and click “Next”
- Next, enter in the amount of money you want to transfer and click “Next”
- Lastly, review the details and click “Transfer ($) Now”
Moreover, instant transfers will transfer into your bank account or debit card within 30 minutes, however, there is a fee along with this.
Additional important information is that the minimum amount of money you can withdraw is CAD 15.
Furthermore, to transfer, or add money, to your PayPal balance from your bank account:
- As always, begin by logging in to your PayPal account
- Then, click “Wallet” and then click “Transfer money”
- Next, click “Add money”
- After, choose the way you want to add money to your account
- “From your bank”
- “At a store, with cash”
- “With Direct Deposit”
- “Cash a Check”
- Additionally, this is where you will select your bank account since you are wanting to transfer from your bank account
- Finally, enter the amount you want to transfer to your PayPal balance and click “Add”
How do I Send Money with PayPal in Canada?
To send money using PayPal in Canada:
- First, log in to your PayPal account
- Next, click “Send & Request” and choose how you want to send the money
- Then, enter the email address/username, phone number, or name of the recipient you want to receive the money
- After, put in the amount of money you want to send to the recipient and click “Continue”
- Following, choose the source and click “Next”
- Bank account, or
- Credit or debit card
- Last, Review the details of the payment and click “Send Money Now”
Thankfully, all of PayPal’s services work in Canada. Therefore, you can create a personal or business PayPal account and link payment options such as your bank account or a credit/debit card.
Furthermore, with PayPal in Canada, you can request and send payments to friends and family, for goods and services, and transfer money to and from your bank account and your PayPal account. Additionally, you can also use PayPal to pay for items in-store or online.