Our Guide to Gift Payments using PayPal
With Buy Our Honeymoon, you can link your wedding list to a PayPal account, so that your guests can pay for their gifts using a credit or debit card. Here’s our guide to setting this up.
Gift payments are made directly into your PayPal account.
Your guests won’t normally need a PayPal account of their own. Cross-border payments from some countries may require that a guest creates a PayPal account as part of the process of making payment.
PayPal typically charges 2.9% + $0.30 USD per transaction, deducted from the amount you receive.
Cross-border payments may have higher fees. PayPal’s fees always apply to payments initiated through third-party sites such as ours.
Any gifts paid into your account are available to you immediately.
Don’t forget to link your account.
Once you’ve set up your PayPal account, sign into your Buy Our Honeymoon account and enter your PayPal email address into the Gift Payments section. We’ll then be able to integrate PayPal payments into your honeymoon registry.
But for most couples, we recommend setting up card payments by Stripe instead of card payments through PayPal.
Collecting payments through Stripe is now open to couples in 17 different countries. Your guests making payment can be based anywhere in the world.
PayPal is a good choice if you need immediate access to funds as soon as they’re paid — Stripe payments take a few days to clear — or if you need to create a balance in a different currency fron your own. Otherwise, Stripe is almost certainly the better option, particularly if you have guests in a different country.
Stripe’s easier for you to set up, and much easier for guests to make payment. And for couples in the UK, Stripe’s fees are lower than PayPal’s. Find out more.
Create your PayPal account and confirm your email address
To create a PayPal account, go to www.paypal.com and click Sign up to create a Personal account. Choose your country of residence and enter your email address and a password. On the next screen. you’ll need to fill in a few personal details.
This will have set up what PayPal used to call a Premier account — meaning that although it’s an account for personal use, you can nonetheless accept credit or debit card payments into it.
If you already have an older PayPal account, you may need to upgrade it to a Premier account. We can help you check this.
Once your account is created, PayPal will send you a welcome email message that contains a confirmation code. This looks a bit like a credit card number, and it’s very important that you use this to confirm to PayPal that the email address you used to sign up is really yours.
Log into your PayPal account and look for the Notifications panel. Click the link to Confirm email address and follow the steps you see on-screen.
Link your PayPal account to your bank account
The best way to access the gifts paid into your PayPal account is to link it to an ordinary bank account. You can then transfer funds as they come in.
To set this up:
Log into your PayPal account and hover your mouse over Profile at the end of the grey bar towards the top of the screen:
Click Add or Remove Bank Account.
Fill in the form that appears with your bank account details.
A screen will appear where you can review the information that you’ve entered. If it’s correct, click the Add Bank Account button.
You’ll now have the opportunity to set up Bank Funding, which is a key step towards being Verified.
Get Verified and lift your receiving and withdrawal limits
For legal and security purposes, PayPal set initial limits on the amount of money you can receive into your PayPal account, and the amount of money you can transfer into your bank account. To be able to lift these limits, you must verify that your account is really yours. To get verified status, you may also need to provide some additional personal information.
When you log into your account, you’ll see a panel labelled To Do on the right:
This will list the steps you need to take to get verified and to lift your limits, together with any additional actions PayPal require of you. It’s very important to keep an eye on this and to always work through any tasks you see listed.
One key step here is to set up Bank Funding. For this, you’ll be asked to submit a Direct Debit form. PayPal will then make two deposits in your account of small sums. As soon as you’re able to find out the amounts that were deposited, either through your bank statement or by telephone or internet banking, log back into your PayPal account. Click the Set up Direct Debit link, and enter these amounts.
Transfer funds to your bank account
To transfer your honeymoon gifts to your bank account, hover your mouse over Withdraw and then click Transfer to Bank Account:
You can then enter the amount you’d like to transfer. It can take a few days for these funds to arrive in your account, so remember to make a transfer at least a week before your wedding and another one after the big day.
Of course, this money is yours from the moment it’s given, so it’s up to you how many transfers you make: you are in control.
We’re here to help
If you ever have any queries or need assistance, we’re only an email or phone call away.