Can you tell me the difference between Verified PayPal Personal Account and Business/Premier Account? Actually I upgraded my main account to a Verified Busines Account long time back but then I didnt know that they allow Unlimited Trasactions on Verified personal accounts too.... So far from my knowledge and according to https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside Its more wise to use a personal account... as its free to get funds and also the only problem is they charge more fees if we Receive payments funded by Credit Card, Debit Card or Buyer Credit... but we can create a business account too for that purpose... Now I have 2 accounts one is personal and the other is a personal account........ both are verified...... so planning to use that personal account as my default account...... What do you think?
Also, if I decided to use personal account as my main account then will they ban me if I made many trasactions and also if get many payments which is above $50 or so..... Please guide me...... Anyway I dont mind.. giving paypal some commissions but only if what i am saying is not allowed by them
Well, the main difference is that the Personal account as the name suggest is for a regular person to use which typically means that the account is mainly used to make purchases and payments and from time to time receive money from friends. A Premier/Business account is made for 'business activities' in mind, which means that you are allowed to make money through paypal by using it as a platform to receive money through sales of goods and services, subscriptions and donations. If you want to comply to rules than if you are selling things through paypal, you will need a business or premier account. If you are just a customer then you can opt for a personal account. That is why paypal allows you to have a single personal account (for personal usage) and a premier/business account (for business usage) per person. If there is no distinction and just gives you the option to pay or not to pay paypal commission or not then it would really makes no sense. Of course there are people here who would just take all the loopholes and ignore contractual rules just to save a couple of bucks. I believe they place a limit on the amount of money that a personal account can receive a month, ie $500 so as to give them a leeway to test the system and then opt for the business/premier account. But look at https://www.paypal.com/helpcenter/m...lutionTopic=20004&solutionId=12797&isSrch=Yes You cannot spilt payments by redirecting people paying using paypal balance or echecks to your personal account and credit card payments to your business account as this is prohibited by your contractual agreement. https://www.paypal.com/us/cgi-bin/webscr?cmd=xpt/UserAgreement/ua/USUA-outside#receive-policy That should answer your question.
Thank you eddy.. you cleared my query.. Repp+++ for you... So this is the answer to one my doubts.. earlier I gave an affiliate my Pesrsonal Account.... for a payment of $90 but the account was not verified at that time... and when i got the payment paypal charged me so this was the reason... so it means i must use my business accocount itself.... Thanks......
are we allowed to have one business and one premier? or is it only one business/premier and one personal?
Nopes .. Your not allowed to have One Premier and One Buisness But you are allowed to have only One Business/Premier and One Personal.
See https://www.paypal.com/us/cgi-bin/webscr?cmd=xpt/UserAgreement/ua/USUA-outside#eligibility-policy You will need to use different email address and credit card/bank account to verify each of the two accounts.
Paypal business accounts are for merchants who want to add 'Pay through Paypal' button to their websites and they receive regular payments from their services or products. The difference is that personal account is free of all costs, whereas they charge around 2.9% commission on money coming into business and premier accounts. If you only want to send or receive payments from your family, friends etc then personal account is enough.
the difference its the limits , and with a business account you can do business by your company name. Not sure how to explain you, read in the paypal help center. you'll find there alot of informations you need.
Verified personal account is not covered by the PayPal seller protection policy. If you accept sales through the web the best method is to use a PayPal business account.