Personal accounts are for the personal use of individuals. They can accept up to five (5) credit or debit card funded payments per year and are assessed a transaction fee. Other payments received are not charged a fee. Premier accounts are for members who have a high transaction volume or would like to access Paypal’s Core and Premium features. Premier accounts may operate under an individual name
Well if you your clients have PayPal then Personal accounts will be enough for you but if they are using CC and Debit Cards then Premier accounts would be good choice. By the way you can have both account as PayPal allowed 2 accounts per person.
regarding accepting payments, here's the big difference: personal account: if someone sends you money using paypal funds (money in their paypal account), you get the complete amount. if someone sends you money using a credit or debit card, paypal takes something like 5%. you can only accept 5 cc transactions per year. premiere account: paypal takes the 5% whatever the sender uses to fund the payment transactions.
Premier accounts are for members who will have a high transaction volume, need to accept credit card payments, or would like access to our special features not offered with Personal accounts. Premier accounts include all the benefits of Personal accounts, as well as special features.
I personally use a Premier account because it lets me transfer a decent amount of money to my bank account.
Premier account is only if you want to receive CC payments - fees are high and only for big amounts you will not see them ( 3-5$ from 150$ ) ..
If you don't expect to receive too much money per month, go with a personal account since there are no fees involved except for cc funded payments.
I think you had better use premier account for online business...personal account~Only can receive the the money from ur friends...
If you intend to do business, you have to use a premier account. Both accounts will allow you to spend and withdraw. The premier account has more fees and can accept unlimited CC transactions, unlike a personal account.
For personal account there will be no transcation fee, but in premier paypal cuts some amount of money as fee.
I actually have tried Personal prior to upgrading my account to Premier. Here's my observation: Every 5th payment you receive from other Paypal members, you'll be given a notice informing you to upgrade your account to Premier in order to continue accepting unlimited CC payments. Once you accept the 5th payment, a charge will then be applied to it. This will continue until you receive your 25th payments with 5 payments as the interval. So, basically after the last payment you will be force to apply for an upgrade.
personal accounts is great since paypal does not deduct any charges from paypal payments but you're only limited to 5 credit/debit card payments with a much higher charge than with premier accounts. I suggest you create a personal and a premier account. I have 2 accounts too.
I just learned that Paypal allows 2 accounts for one person. I should get one more next week. Thanks for the discussion.