Paypal Premier to Business Questions

Hey All,

I'm thinking of switching to a Paypal Business account and then just getting a personal account. I have the Premier right now and there's too many personal and business transactions mixed up in there. Should of done this a long time ago. Can someone give me the low-down on what to expect? Or is it not that much different at all?

I need a different checking account for both, right? If so, does the name on the business need to exactly match the name on the checking? I can get seperate debit cards for both accounts, right?

I know all this info is somewhere on their site, but just want advice from people who have already done this. So I can make it a smooth transition.

Thanks,

Jen

 

A Business Paypal account would be appropriate if you have a registered business with a bank account in the business name. The name should exactly match as Paypal may require you to submit some documentation along the way. You can use a personal credit card for a business account if you want to raise the limits.

If you plan to get an additional paypal account, you will need a different set of bank account and email address for that.

Basically, all the transaction records of the past would remain in the current account and anything in the past, you should not see a difference. But when you convert from a Premier to Business account, the big difference is that your company's name would appear to your customers and you can allow more than one party to access your paypal account but beyond that it is exactly the same as the Premier account.

 

Okay, thanks for your reply. I'm going to register the business and get the business checking account first before switching then.

As long as I can lift the limits with my personal credit card for now, not sure how quick I could get a business credit card.

Thanks again.

 

You don't really need a business credit card, just a separate personal credit card for your business account. I am not sure about the US but here in Singapore, the banks' do not really entertain small business when it comes to issuing business credit cards.