Paypal own site have the answer for your question here : https://www.paypal.com/helpcenter/m...&countrycode=IE&cmd=_help&serverInstance=9005 - Dynashox -
Personal accounts are generally meant for casual users and you don't have premium benefits like using paypal IPN, etc. and you can only accept 3 credit card payment per year. If you do trade a little online then it is recommended for you. Premier accounts are free from limits which Personal accounts have. But you'll have to pay money to paypal whenever you receive some funds. It is meant for merchants who do not own a company. Business account is same as Premier but you only open an account on your company's behalf.
What are the fees like when I am sending money / paying? Do they charge more on Personal or Premier (fees)?
The receiver is charged fees, not the sender. If you want to do business though, you must have a premier/business account.
Here's the page which will tell you about the fees on Premier accounts. https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside
If you want to use for your personally for yourself you then you can create personal account. If you want to use it business purpose then you can open business account.