Receive Your Payments on PayPal with a Few Easy Steps
Hosts on Getaround are paid via Paypal payments. Getting started with PayPal is quick and easy. After you sign up for a PayPal account, you can receive any earnings once your PayPal account is linked to your Getaround account. You’ll find guidance on how to complete these two simple steps below.
❶ Set Up a Paypal Account
- Go to PayPal.com and click “Sign Up”
- Select “Personal Account” and click “Next”
- Enter your email address and create a password
- Fill out some basic account details and read agreement and policies
- Check the box and click “Agree and Create Account”
- Link a credit or debit card as well as your bank account to receive the payouts
❷ Link Your Paypal and Getaround Accounts
- Log into your Getaround account.
- Click the arrow next to your avatar and select "Account"
- Scroll down to "Payout", then enter the email address associated with the Paypal account in which you'd like to receive funds.
- Hit the "Save User Information" button to save your changes.
- Will receiving payments via PayPal create an additional tax burden for my business?
Getaround is not permitted to give tax advice to any hosts. We recommend you contact a licensed tax professional to understand how to file your taxes. Getaround will issue a 1099 report that includes all income information, and PayPal will issue a similar 1099-K that lists transactions. The IRS has a specialty tax line dedicated to answering this question for contractors who utilize PayPal, just like you. We encourage you to contact them on your own: 800-829-4933. Hosts should consult with a tax professional to understand this situation as well as all associated deductible business expenses they may use to their advantage come tax time.
- Are there any fees associated with opening a PayPal account?
No. Utilizing a PayPal Account and receiving Getaround payments is free to hosts. Getaround absorbs all fees charged by PayPal to ensure the amount of earnings a host receives is not diminished in any way from what is listed on their Earnings Statement or what would have been paid via a check.
- How safe is receiving payments via PayPal?
You can read about PayPal’s commitment to safety here.
- Will this benefit my business?
It should! By accepting money via PayPal instead of a paper check, hosts will be able to receive their money instantly on the 15th of every month, rather than having to wait for the check in the mail to arrive. Hosts will also not need to worry about heading to the bank to deposit anything and can spend more time managing and growing their thriving car share business.