Paypal Business account or Personal account?

Upgrade it to a business or premier account, otherwise you're going to run into paypal's limits quite quickly.

I don't know how it works for US Paypal accounts with regards to requirements.

If you're friend is going to be doing business, then he has to get either a Premiere or Business account. Personal accounts have stricter limits and it is against their TOS to use it for regular business.

Here in the US, at least, I don't think going for the Business account required much more information than it did to get the Premiere.

People who make 40 dollars a day from selling ebooks and stuff online do they use a premiere account or a business account?

If your friend is using PayPal for huge business stuff, I suggest that he/she go for Business account. But if I were to choose personal and premiere account, I would go for Premiere because it has more benefits than the personal one.

Use a premier account if your friend just wants to conduct business under his/her name. Use a business account if they want to conduct business under a business name.

So the choice between the two depends on long term goals, business structure and professionalism.

Agree with the others. For small internet marketing business related transactions go premier. For bigger and more features have them go with a business account.

I think their plan is to do some simple freelancing, and selling products, and ads wouldnt that be premier account?

The business account gives you the option
to accept recurring payments, which if you
have a membership site or some offline clients,
hell, even if you wanted to make a multiple payment option
program, its a super handly tool to have in your marketing tool kit.

Go for a business account. There are no specific requirements for business or premiere accounts as such.

1. Your friend will never succeed as a business person if not able to go by himself/herself and READ the info posted on the paypal. See the first page after clicking sign up:

Personal
For individuals who shop online

Premier
For individuals who buy and sell online

Business
For merchants who use a company or group name

2. If you are the "expert" helping your friend... you also should know better than asking here. Just find the info on Paypal.

3. This also applies to all the lame replies before and after my post - RTFM and don't post your fantasies...

Don't forget to go into your profile and update your Average Dollar Value of Your Transactions and also the Average Monthly Income...this is under the "My Business Setup" section...

cheers

Anton

Business, and upgrade to paypal pro if you can swing the $30 a month. Closing the sale right there on your site cuts back on abandoned cart rates and makes upselling a LOT easier.

If you use a personal Paypal account, and for any reason Paypal limit it and analyse it more closely, they will close your account if you have been doing business.

Business forums are full of people complaining about Paypal. I'd do everything possible to make sure you obey their T&Cs, and save yourself the hassle.

Hi, i think you should try to upgrade to Premier account first. I have upgraded mine and the limit have been increased. It's free to upgrade.

It all depends on the limits, really. If you do not want any withdraw limits, you should go with the business account. Plus, with the business account..there are a few more perks.

hey there guys, really very sorry to bump and old thread but i am just getting started in the im game. so i've set up a company name and paypal business account (i'm uk based and there was no premier option) but i'm a bit confused about a few issues which maybe you can clear up?

1) my accounts unverified, so it says i have a total of £1900 yearly allowance that can be stored in there. is that 1900 at any one time or what exactly

2)if i verify my account i have to link it to another traditional bank account. lloyds, barclays etc. this account has to also be in my business name to ensure there are no extra fees ontop of the usual paypal costs, is that correct?

3)hmrc, when do i have to declare anything to them? would the banks (paypal and/or the linked normal business bank account) 'rat me out' to the tax man?

4)my business is alive on internet but ive not registered or anything AND crucially i've not made any money yet. it's a sole trader, do i need to set this up or its only relevant to do so when i've got income above a certain figure? whats the figure?

thank you, and please forgive me if i've made any kind of mistake in etiquette. only new here. cheers

Business!!! :0

Always better.

If you expect to do big volumes,business one is the better.For moderate volumes,a premier account is sufficient.

if you're looking to do business, then upgrade to a business account.

there are no requirements, not that I recall..

not sure if addressed to me, if it is, thank you all v much for replying i really appreciate it.
but i dont think i phrased my question properly, i went with business, but i'm stuck on whether to verify or not, and how uk tax laws affect my paypal account. can any one point me to the right warrior/ thread where i can find an answer?


thanks again!

hello,

Go for the business account since your friends need to do business with the account. and of course you will need to verify your account.
And regarding taxes of course youwill have to pay taxes. since you are located in UK that will be in uk

Hope that help a little bit

Hey tony i really think the business account is the way to go. Also with a business account you have the option to show your business name if you don't wan't people to see your name you have on the account...

Business account is always the best choice. or you can go with premium and then upgrade to business

Its better for you to get Premier account. You have more flexibility with it.