Paypal: Business A/C .vs. Personal A/C

Are you going to be using the account as a business or a person?

Hi Jackie,

The fees Paypal charges are no different. What's important is that a Business account, which is verified using a bank account, is much less likely to be frozen if/when you begin receiving payment for a large number, or higher dollar sales.

If you're doing business - upgrade to a business account. It's free.

Do you have the ability to accept people's money? Another way of asking, are you a business?

Example, one project we do is to help people sell advertising...if you find someone who wants to advertise and you take a 33% deposit, what do you ask the advertiser to do?

Write a check? To whom?
If he wants to use a Credit Card, how will you process it?
If she wants to pay in cash, what kind of a receipt do you give?
If they need graphics done, what form do you use?

See, these are ARE YOU IN BUSINESS questions, even a sole proprietor is better off with a Doing Business As (dba) fictitious business license, often used with bank accounts.

You just need to attach a bank account to your PayPal to be a business, but, for legal and other purposes, I usually advise people get their DBA, or at the least a State /county /city license for their BUSINESS.

It comes in handy when you try to convince people to part with their hard earned money for your products or services.

gjabiz

Hello,

Personal Account - Ideal if you shop online. Make secure payments on eBay and merchant websites using your credit card, debit card, or bank account.

Business Account- The right choice for your online business. Accept credit card, debit card and bank account payments for low fees.

in short. personal account have limited functions and business account have unlimited functions in paypal

Hope it helps

using business account you can transfer more money in a month period if your turnover high in business then you try business account.

You need a business account if you will be doing business. You have to try to be as transparent as possible with telling them the type of business you will be performing and receiving the payments through.

Use personal for only personal things.

The Personal account transaction charge is free while the Business account transaction charge must pay. Thanks

I don't know much about the other methods out their but what I will say is I won't use paypal as long as I can help it. The main reason I like many others have gotten our account hacked. and the banks can't do a damn thing about it because its in the paypall agreement that the banks can't get involved when something does go horribly wrong.

I think you'll have a much better time doing business with Paypal with a verified business account oppose to a personal account which I think are more likely to be limited due to their not being a real business behind the account.