Paypal Premier and Business Account

by dizen
6 replies
I have standard verified paypal account and want to upgrade either to premier or business account.

It's not free, correct? I tried Paypal site but I was unable to search for additional fees/charges associated with upgrading from standard acct to premier/business acct.

What fees I do have to pay to have a premier/business account

Thanks!
#account #business #paypal #premier
  • Profile picture of the author JasonGrimes
    Premier accounts are free as I as I know, I may have to double check that though.
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    • Profile picture of the author Nick Lotter
      You don't have to pay to have a PayPal Business Account, but just like any other PayPal account you pay transaction fees.

      pjCheviot was kind enough to post a link to PayPal's fees page.


      Originally Posted by pjCheviot View Post

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  • Profile picture of the author WorkAtHomeDream18
    I am not sure if Paypal charges for business account. However, Paypal never charge for Premier I think.
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    • Profile picture of the author Tina Golden
      There is no fee involved to either of the upgrades, at least not in the US. Not 100% sure that it's the same elsewhere.

      I've used a premier account for years and just upgraded to business not long ago and there was no fee at all. Also was very easy to do.
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  • Profile picture of the author Alex Makarski
    Here's what you need to know about Paypal accounts (this is true as of today but keep in mind that things may change and do change).

    * There is no good reason to have a premier account is you are going to use paypal for business. The fees are similar to or same as business but many of the features not available.

    * You don't need to have a properly registered "business" to have a business account. It can be a DBA ("doing business as").

    * You can have several business accounts (just remember that each one should be linked to a different bank account / credit card). -- in the past you could only have one but that has changed.

    * There are no monthly fees for any of the accounts. Transaction fees are something like $.50 + 3% of the amount to receive a payment. No fees to pay.

    * Additional services cost $35/month for all of them. You need to get approved to get them. You may get approved for one but not the other.

    * Additional services include:
    - Website Payment Pro (allows you to link PPAL to a shopping cart and charge credit cards without taking your customer to paypal).
    - Recurring Payments
    - Virtual terminal (may be handy if you run live events or work with offline clients).

    * If you have various ventures and want to have a separate Paypal account for each one, now you can set up a "child" account that is linked to your main one. The benefit is that the money will be swiped from it daily and put into your parent one automatically and with no fees involved. Also, you don't need to link a child account to a bank account. To set up a child account, create a new paypal account then call paypal on the phone and ask them to link the new account to your main paypal account.

    Hope this helps,

    Alex


    Originally Posted by dizen View Post

    I have standard verified paypal account and want to upgrade either to premier or business account.

    It's not free, correct? I tried Paypal site but I was unable to search for additional fees/charges associated with upgrading from standard acct to premier/business acct.

    What fees I do have to pay to have a premier/business account

    Thanks!
    Signature

    "I hear and I forget. I see and I remember. I do and I understand." -Confucius

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