Be it, PP or MB... I guess many ppl here use their Personal AC for the biz matter.. I was just thinking how good or bad can this be in a long run? We are planing to take our Computer Business Online. I am still not sure if we can receive payments for that in my personal MB AC No way I am gona use Paypal for this
This should answer your question https://www.paypal.com/helpcenter/m...lutionTopic=20004&solutionId=12797&isSrch=Yes Obviously the answer is No. There is a reason why Paypal has three kinds of accounts. And there is the class which is called Business or Premier accounts and they do not name it for no apparent reasons. The personal account is for a private individual who basically is a 'spender' in the whole paypal equation. The 'Business' and 'Premier' account holders are those who are the 'merchant or vendor'. Paypal is not a charity and it does not give you the option to decide to give them fees or not. Basically if you benefit from Paypal then you should pay a fees to ensure that paypal exists in the long term so that you can continually benefit from it. I know that there are people who use their personal account at paypal for business purposes so as to circumvent the rules but it does not make it the right thing to do. Besides these are the group of people who constantly come back here to complain about their paypal account got limited and all that. It is always the good thing to do the right thing. Set up a Business account (if you have a registered business) or a Premier account (if you are operating as an individual) if you plan to receive money from sales.
Well, there r ppl her who can not be categorized as merchants. Some r paying others some incentives to do a favor for them, others r selling something which is not really stable - wither not allowed or can not be invoiced ...technically thy r doing biz, but practically they can not have a biz ac for that... so what the option for them... any comments on that...
It is a simple definition. If you benefit from Paypal as a payment platform in order to help you make money then you need a business or premier account. If your friend returns money he owes you through Paypal and you do not earn from it then it is non-business. In all your examples, you will need a business account. Of course, like I say, there are people who gets by without but it does not make it right. If the one who receives money as incentive to do a favor then that person would be earning something which he would normally not receive so that is deemed as income. He would also probably not earn that money if he did not have a paypal account so thus he would have benefit because he uses paypal. It is clear cut here. Even if you deal with just selling 1 item over paypal perhaps a watch you no longer need, it would still be deemed as business since you will get money out of the arrangement. However, if you want to take the risk then go ahead and use your personal account but don't come back crying if your account get limited. Just accept the consequences.
you can keep both the accounts you should do personal transactionwith personal acc and big transaction with business account it is legal
Would you be making money by providing this service ? If so, it would be considered as sales and thus you should be required to have a Premier or Business account. Besides you would want to accept Credit Card payments because not everyone is a paypal merchant and thus not everyone would have existing paypal funds ready to pay. There are only some 40ish countries which can receive funds out of the 190ish paypal supported countries. If you do not accept credit cards, you will lose out on a huge market.