Yes, PayPal has thorough instructions for setting up an account at www.PayPal.com, but it can take some time to get through the process. Since almost any web product that allows you to sell something takes PayPal as a payment gateway, it's a slam dunk for generating revenue dollars.
2) You set up an account using the e-mail above, tie to a personal social security number or company EIN, and enter your checking account information.
3) PayPal will make 2 small deposits into the checking account.
4) You must check your account electronically or contact your bank for the details of these two transactions.
5) Log back into PayPal and enter the information about the deposits.
6) Enter your EIN or a credit card to verify (and lift the $500 withdrawl limit).
**Note: If you a re a non-profit, you can get reduced transaction fees, but you have to submit some additional paperwork that is actually reviewed by human beings. Add extra time if you're an official ".org".