I have the same question quite some time ago, they told me that i could have one business and one personal at the same time. Somehow you're not allowed to have two of the same account type at any given time.
If you search Payment Processor forum you will get lots of similar threads Well anyways here is what PayPal says on this issue: Can I have multiple PayPal accounts? URL: Answer Yes. PayPal members may have one Personal account and one Premier or Business account. You can add additional email addresses, credit cards and debit cards, and bank accounts to your Personal, Premier or Business account. However, each account must have its own email address and financial information. If only one account is needed you may also upgrade from a Personal account to a Premier or Business account.
You may be able to have 3 total. The information given above is correct but PayPal also has what is called a micro-transaction account where goods are sold online for small $. The few is reduced at the lower end and higher than a regular account once you go past the $12 point. There are no micro-transaction personal accounts. You still have to meet the CC and bank info being seperate for each account.
You can have two paypal account.One Personal and Premier/Biz.I use to accept paypal payment in personal account and CC/Bank funded payment to premier account.
You can't however have the same bank account / credit cards used with more than one account. I had to open a new bank account just to get round this. Best wishes, Martin