Hi guys Ok so I am not so happy with the fees I have to pay everytime someone sends me money. In the past 7 days I had to pay 30 USD in just fees. I was thinking of degrading my account from Premier to Personal. I used to think that the only diff between a personal and a premier account was that, you can accept only 5 credit cards payments every year if you have a Personal account. But later I found out that there is a receiving limit too. Anyways, after going through Paypal's FAQ, I found out that paypal allows its users to have upto to accounts. One personal and the other premier or business. So I said to myself, thats great! Now I can open two accounts and ask my clients to send the money to my personal account and when that account reaches its receiving limit, I'll ask them to deposit it into my premier account. Just as soon as I finished saying that to myself, I came across one FAQ which stated that its not legal as per paypal's TOS to ask others to pay to your personal account if you have a premier one. After reading that, it made no sense to me why anyone would want to have two accounts with such a restriction. So I sent them a mail asking about this and its been over a week and havent received a reply from them yet. So I thought I would check here if whether anyone knew what use could this be of? Any idea? By the way, I understand paypal is a "for profit" company. But I dont really receive any credit payments. 5 a year too would be alot for me. So, I dont really need a premier account... and I find the fees to be high..
If you read that then it's really strange. But people can pay to your personal account without mentioning that you provided some sort of products or services to them. Correct me if I am wrong.
I would take it that if there are just small number of transactions of low amounts, Paypal will not take notice of it. If they are not so, it probably be better to use the Premier account. In theory, the personal account is used for personal transaction, typically it is for sending money out for making payments rather than for receiving payments, maybe the few transaction by receiving funds from friends, like your friend owes you some money for purchasing some item for him. I have a personal account and a business account because I use my personal account to pay for my personal purchases online and the business account to buy and sell items. Paypal fees are the lowest in the industry. If you are worried about the fees then just factor that into your cost as that's what most of us do. I read somewhere that there is a limit in the number of payments you can receive through a personal account but I cannot confirm that.