How to use a PayPal account to hide money

Written by katarina fitzpatrick
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How to use a PayPal account to hide money
PayPal is a well-known online payment system. (Getty Thinkstock)

PayPal is a safe, secure online system in which you can easily transfer money to people and businesses to pay for goods and services, as well as to yourself by use of a checking or savings account. It is simple to transfer money out of your bank account and into to your personal PayPal account once your PayPal and bank account have been linked together.

Skill level:
Moderate

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Things you need

  • Working e-mail address
  • Bank account

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Instructions

  1. 1

    Go to Paypal.co.uk. Select "Sign Up." Choose the personal account option.

  2. 2

    You will then need to enter some personal information, such as your e-mail address, a password for your account, and your full name, address and a phone number.

  3. 3

    You will be prompted to read the terms and conditions. Select "Agree," and your account will be created.

  1. 1

    Once your PayPal account has been created, you should have been automatically sent to the account's home page. On the top left corner, select "Add Funds." Then select "Add Funds From Bank Account."

  2. 2

    Enter you bank account information. You may choose to use your checking or savings account, or both. Just focus on entering one account's information for the time being. The page will prompt you for your first account's sort code. (This is the first set of numbers located on one of your bank checks.) Enter your bank sort code in the first box and enter your bank account number in the second box.

  3. 3

    Allow two to three days for PayPal to make two deposits (they will be under £1.90) to your bank account. You must wait for this to happen so that PayPal can confirm that this bank account is yours.

  4. 4

    While you are waiting for this process to be completed, you can verify your e-mail address with PayPal. Open the email you received from PayPal and select "Link Now." A screen will prompt you for your PayPal password. All of your accounts are almost completely linked together.

  5. 5

    Once PayPal deposits the "test run" into your bank account, you may return to your PayPal account and select "Add Funds" and "Add Funds From Bank Account." You will be prompted to confirm the exact amount of money PayPal deposited into your bank account. Enter this information correctly to link your accounts. Now you are ready to safely transfer money from your bank account to your PayPal account.

  6. 6

    Once again, select "Add Funds" and then "Add Funds From Bank Account." Enter in the amount of money you wish to transfer out of your bank account and into your PayPal account. You will be prompted to confirm your request. The money should be safely "hidden" in your PayPal account within three business days of your request.

Tips and warnings

  • PayPal isn't called "Pal" for nothing. It is a user friendly method for almost anyone to transfer or send money. Once you begin this process, you may find it easier than expected, as it guides you through each and every step.
  • This article is not intended to be an aid in illegal laundering of money from other people.

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