Paypal question...

You should be fine with a regular account, however it is not recommended.

As for limitations, i believe you can only send up to $10,000 in any one transaction, i am unaware if the same applies to recieving payments.
-MonsterSEO

Hi!

You can actually have 2 paypal accounts, 1 for personal and 1 for business.

If you search for the difference f personal account and business account, this is what paypal will tell you:

"
All PayPal accounts allow you to send and receive payments.

• Personal: Recommended for individuals who shop and pay online, or wish to send or receive personal payments for shared expenses such as splitting of dinner bills or rental charges.
• Premier: Recommended for casual sellers or non-businesses who wish to get paid online, and who also make online purchases.
• Business: Recommended for merchants who operate under a company/group name. It offers additional features such as allowing up to 200 employees limited access to your account and customer service email alias for customer issues to be routed for faster follow-ups."

But I think the most important difference is that for personal accounts:
•paypal doesn't charge you for RECEIVING money

•you can receive funds from the buyers PAYPAL ACCOUNT or BANK ACCOUNT/transfer BUT NOT from CREDIT CARDS
•I suppose there's a limit as to how much funds you can transfer around in a month.


For business accounts:
•You pay paypal a percentage of the funds you receive.
•You get to receive funds from other Paypal accounts, bank transfer and credit cards.
•I think the limit for how much you can transfer is way higher than for personal accounts, but I suppose there is a point when paypal looks into your account to see whether something fishy is going on (for large or maybe absurdly large monthly transfers).


Some people do get in trouble with paypal (not too often), like when they get banned or their accounts get restricted, which I believe has to do with the amount of money moving around in their accounts or when paypal thinks there's something going on (or maybe when paypal is having a bad hair day???).


Anyways, I think if you'll be using your paypal account for business, it's better to pay Paypal it's cut and be safe than save some bucks using a personal account and get really messed up when your business starts getting some traction.



I've done my reading from the internet too. Some things I said could be outdated, but not as far as I know. If people have more information to share, or some things I said needs correcting, please, I'm all ears (eyes)