Well, at first, I have this misconception, I thought that a credit card is a necessity in creating a PayPal account.
Apparently, IT IS A NO. We don't have to own a credit card for that purpose. Paypal can act as an On-Line Bank for everyone.
Here's the steps...
1. Go to paypal.com. Sign up.

2. While filling the registration, notice the picture below.

3. Many people stuck here while registering. Actually you don't have to fill in the credit card details if you don't want to. Click on the " go to my account " button at the bottom.

4. Hooray!! You are now accessible to your ONLINE BANK!!

Most PTC sites support Paypal now. So, remember to set your cashout/payout through paypal with the e-mail you used to register Paypal. Hope this post helps~~~~~
If you have any inquiries, please leave a comment at http://yuhyang1122.blogspot.com/2010/01/step-by-step-create-paypal-account.html