Paypal Normal account VS business account?

by Networking_now

Posted: 16 years ago 7 replies

INTERNET MARKETING

Can anybody explain the benifits the paypal business account has compared to the normal?

and advantages/disadvantages of both
and any special requirements in both.

and do any of them require you to link up your tax details/income etc?

(i will be using $7 and RAP for future projects)

#account #business #normal #paypal

Networking_now 16 years ago

Anybody know please ?
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Mrs S 16 years ago

I think if you're planning on using RAP then you need a business account as the personal one doesn't allow you to collect payments.

I don't think there are pros and cons - if you want to run a business online using PayPal then you need the business account option.
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- Networking_now 16 years ago
  
  does this business account require you to link up your tax details/income etc?
  
  Thanks
  
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  Istvan Horvath 16 years ago
  
  Originally Posted by Networking_now
  
  does this business account require you to link up your tax details/income etc?
  
  The other way around
  
  The taxman will want to see your paypal income !
  
  You need premium or business account to be able to receive money. To be a verified PP user they will ask for your phone. With any account you will need to give them your CC info. And if you want to withdraw money directly to your bank account - they will ask for bank info.
  
  HTH
  
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frqhuss 16 years ago

If you are in business than i would suggest you to go with paypal business account because it is suitable for all types of business ion internet...
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geekology 16 years ago

I have written an exhaustive article on PayPal facts .It will surely help you.
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milan 16 years ago

There is a lot of misinformation in this thread. I suggest you read the information on Paypal's site and decide which account suits your needs.
As a person you can register:

-Personal Account
Suitable if you're buying and/or selling something occasionally. Biggest advantage: no fees.
-Premier Account
If you're doing more/bigger transactions you'll eventually need to upgrade your Personal account to Premium.

If you have a company you'll need a:
-Business Account
Business account type is very similar to Premium.

I repeat, don't search for important information on public forums. Go to the source. In this case, only Paypal has the obligation to give you correct information on Paypal accounts.
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