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What type of pay-pal account are you using? individual, solo trader or business?

by jerzykaz
13 replies
Hey guys,

I was wondering what type of PayPal account are you using and does this make any differance to transactions you make? what would you recommend?

Thank you
#account #business #individual #paypal #solo #trader #type
  • Profile picture of the author gvsridhar171
    i am having both business and personal paypal accounts. if one doesn't work the other will work.
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  • Profile picture of the author Sitestomp
    Business account. It's the way to roll.
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  • Profile picture of the author melleni
    I use a business account but I do have a personal one as well.
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  • Profile picture of the author LukeZ
    I have a business one, but now I think it's the wrong choice. Maybe you'll prove me wrong, but nowadays if you sell products online targeted to people that use a little bit of internet everyday that are not very expensive, you can go just fine with a personal account.

    But I'd like to know the advantages of having a business account instead of a personal one (besides accepting credit card payment directly).
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    • Profile picture of the author Sitestomp
      Originally Posted by LukeZ View Post

      But I'd like to know the advantages of having a business account instead of a personal one (besides accepting credit card payment directly).
      I think you answered your own question.

      Taking payments via CC from people who don't have paypal accounts is a HUGE plus. Without it, you're cutting out a ton of potential business.
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      • Profile picture of the author LukeZ
        Originally Posted by Sitestomp View Post

        I think you answered your own question.

        Taking payments via CC from people who don't have paypal accounts is a HUGE plus. Without it, you're cutting out a ton of potential business.
        I see your point. For example there are places where Paypal is not available and there are huge markets there... Got it
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  • Profile picture of the author Anton Nadilo
    Hi JerseyKatz,

    Like many of the other posts have mentioned a Business Account is normally the best way to go.

    However, you need to ensure you complete a number of the nformation settings within your PayPal account when you set up your account. These are often neglected by people on set up phase and can get you into serious hot water with PayPal if you were to ever have any large sums of money flowing into the accounts.

    I have just launched a new WSO called PayPal PowerPlay which lays out a step by step blueprint of everything you need to know about PayPal and How To Avoid The PayPal Slap!!. It could be helpful in your journey.

    cheers

    Anton
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  • Profile picture of the author Anton Nadilo
    In the IM game we work very hard to attract traffic (hungry buyers) to our site.

    The last thing you want to do is create killer sales copy and a great sales funnel to lose them at the checkout becuase you were unable to offer paypal and/or credit card payment for their order.

    And hey...you are running an Internet "Business" not an Internet "Hobby" so do yourself a favour...get your Business Account locked down and set up correctly and move onto the next piece of business you need to attend to.

    Cheers

    Anton
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  • Profile picture of the author Mr.Daydream
    I use an individual account
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  • Profile picture of the author jerzykaz
    Thanks for your replies guys.
    Is there a fee for business account?
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  • Profile picture of the author LukeZ
    2,9% commission plus 0.3$ on every payment received, if I'm right...
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  • Profile picture of the author lukem
    Lukez, you are right, but well worth it to instill trust in buyers I find
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  • Profile picture of the author bplaza
    it depends. I use individual. But for others it needs to upgrade and pay. But further charges are less.
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