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Paypal (Premier Vs Business) Difference?

Discussion in 'PayPal' started by vincehelp, Mar 4, 2007.

  1. #1
    Does anyone know the difference in them? A friend of mine said main difference is business accounts get taxed every month? Like paypal sends you a bill every month depend on what you make?

    Then again i asked someone else they don't..

    i just don't get the difference between a premier and business.

    Which account should i use when i'm doing business online.
    My business is 1 person selling recieving money in the hundreds.
    Probably earn over 1000 within a month.
     
    vincehelp, Mar 4, 2007 IP
  2. eddy2099

    eddy2099 Peon

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    #2
    No, you do not get tax every month with a business account. You do not get a monthly bill or anything. Your own taxation obligation is between you and your Inland Revenue Service of your country. Paypal does not submit it for you.

    Basically the difference between a Premier and Business account is that if you do not have a registered business, you use a Premier account. If you are a registered business, you use the Business account.

    With a Premier account, you can register in your own name and check or bank withdrawal can be done in your personal name. With a Business account, you can only withdraw in your business name, either to your bank account or in a check.

    The Business Account is own by the business and access can be shared by several people within your business organization. Well, a Premier account can be access by a single individual.
     
    eddy2099, Mar 4, 2007 IP
  3. vincehelp

    vincehelp Peon

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    #3
    Ok i created a business account when i add my bank card it has to be exactly the same name as my business account or can it be my moms or dads.
     
    vincehelp, Mar 4, 2007 IP
  4. vincehelp

    vincehelp Peon

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    #4
    My business account i made is name Vince L But my bank account name is Vince Lang. Can that work?
     
    vincehelp, Mar 4, 2007 IP
  5. eddy2099

    eddy2099 Peon

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    #5
    With Paypal, you can use a credit card issued in your personal name or your business name. You cannot use your bank card (ATM) for verification.

    If your mum and dad are registered owners of the business, have them register the Paypal account so they can use their personal credit card for the account. Otherwise you have to do it yourself and use your own credit card for credit card verification.

    Most importantly, never pretend to be someone else.

    If I remember correctly, when you register a Business Paypal account, you will enter the business name and also you be also able to enter the contact person's name which would be your full name. Not all business name are the same as the owner's name anyways.
     
    eddy2099, Mar 4, 2007 IP
  6. vincehelp

    vincehelp Peon

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    #6
    wait i just opened a business account i need a credit card? I dont have one only a bank... Should i downgrade to premier then?
     
    vincehelp, Mar 4, 2007 IP
  7. eddy2099

    eddy2099 Peon

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    #7
    I believe you still need a credit card to get your account verified unless the rules are different in your country. This applies to any type of accounts with Paypal, be it personal, premier or business.

    Yes, since you do not have a bank account in your business name, it probably be best to downgrade to a premier account.
     
    eddy2099, Mar 4, 2007 IP
  8. Blesta.Store

    Blesta.Store Active Member

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    #8
    You can use any card you wish but they prefer a business card we use our Debit card you don't need a "Credit" card.

    I have two cards on my PayPal my business one and my personal one, same with banks so I can withdraw or not to either.
     
    Blesta.Store, Apr 29, 2015 IP