A PayPal account offers a range of payment options for use when shopping or sending money over the Internet. When you no longer need your PayPal account, you may close it at any time. Once your account is discontinued, all your payment details and bank account information is erased. A PayPal account may be instantly shut down from within the account by simply changing the settings in the main menu. Doing so, however, is a permanent action. The process may not be reversed.
Login to your PayPal account.
Click the "Profile" link in the main menu bar.
Click "My Settings" to access your account profile menu.
Click "Close Account" in the Account Types menu. Prompts will appear to confirm your decision to cancel your account. Follow the prompts until you reach a confirmation page regarding your transaction.