Guys, What kind of paypal account will I need if I want to receive payments from lets say, payperpost.com or reviewme.com? Donation money, will a regular account work or which one is the best to have? How about if i want to sell a product in my website? i am not selling one yet, but wondering.. Ed
In theory, the Personal Account is for the general public who uses Paypal to make payments or the few occassions which you may receive funds from friends or ad hoc sales. Of course, if what you receive is small amounts from affiliates and so on, it may be sufficient. However, if you are doing real business by offering services or products then you probably be better off with a Premier (if you are not registered as a business) or a Business (if you are registered) accounts. The Personal Account has a limit on the amount of funds you can receive and send in a month/year which the Premier or Business account does not have. Basically, all sign up are free. The only difference is that Personal Account are not charged a fee for receiving existing paypal funds from a 3rd party. Personal account now limits to 5 Credit Card incoming payments from 3rd parties in a year at the higher fees. You can add the Donation Button even if you have a Personal Account. One thing to note is that Paypal rules allows you to have 1 Personal Account + 1 Premier/Business account.
You won't know how they'll donate you,probably they will use CC's. So.......Premier/Business Account!
Then your option would be a Personal Account or a Premier Account. The Premier account is a hybrid of the business account but to be registered in your own name.
You don't need a business name to register a Personal or Premier account. Do not try to create a Business Account with any name or else you will not be able to withdraw anything from them as checks and bank accounts must have the same registered name. So if you do not have a business, use the Premier Account. It is the same as a Business account but just without the need for a Business name.