PayPal, which is formally known as PayPal Holdings Inc. is probably the world’s most well-known company operating a worldwide online payment system.

This system supports online money transfers and has become the go-to solution when it comes to making cross-border payments.

In order to use PayPal, you must first create an account, and you’ll use it to perform all of your money duties.

However, there are plenty of reasons why someone might want to close their PayPal account afterward.

While online searches may sometimes also come up with the “how to deactivate Paypal” results, you should know that once you close a PayPal account, it is permanently deleted.

How do I delete my PayPal account?

Depending on whether you have a Personal or Business PayPal account, the methods slightly differ.

1. How to close a Personal PayPal Account

  1. Log in to your PayPal account
  2. Click on the Settings menu
  3. Click Close your account
    • Enter your bank details if requested to do so
  4. Click the Close Account

2. How to close a Business PayPal Account

  1. Log in to your PayPal account
  2. Click on Profile button next to Log Out
  3. Click on Profile and Settings
  4. Click  Account Settings
  5. Click the Close account button

Close paypal account

Before you close your PayPal account, remove any financial information, such as card and bank account.

Additionally, make sure that all payments you made are finished since all pending ones will be automatically canceled.

Please note that since account deletion is permanent, this also means that all transaction histories will be deleted as well.

As such, please remember to print out or take a screenshot of your transaction history in case you will ever need it again.

Also, remember that in order to delete your PayPal account you will need to be using a laptop or computer.

While PayPal does have an official mobile app, you can not delete your account from it.

More so, if you positively decided to go ahead and close down your account, make sure you collect the entirety of your PayPal balance.

If you want to cash-in on any remaining PayPal balance you could try to:

  • Transfer it to your bank account
  • Request a check from PayPal
    • A small fee will occur
  • Purchase some items from your favorite online shop

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