Paypal - Upgrade to business account

What is the advantage of upgrade to business account compare to premier personal account?

Thanks in advanced.

 

The Premier Personal Account as the name said, this is for private individuals who wants the benefit of the Business account but do not have a company or do not want to involve their company.

The Business Account is for a business to use Paypal. All checks and withdrawal must be done to a business bank account. It will show your business name instead of your personal name.

 

ok thanks for this info...so thats mean i need to register as a company before to register as Business Account.

 

Yup, technically so or else you cannot withdraw your money as it must be to a bank account or check in the name of the registered company.

The Premier Personal Account has exactly the same feature as the Business Account without the above-mentioned issue.

If you do not already have a company, stick with the Premier account.

 

Oh really?
I have a biz account but I don't have a company...

 

yeah...me too

 

me too, why is it a problem again?
haven't run into anything myself....

 

In what name then do you withdraw funds ? (bank a/c or check)

 

I have a business account and it only allows me to set the check and bank account name as my company's name. I cannot set it to my personal name for withdrawal.

Of course, when signing up, Paypal does not check your business structure but withdrawal can be a problem. Probably some banks only look at account numbers when accepting funds payment but some goes the extra mile to ensure both name and account number are accurate, at least mine do.

http://www.paypal.com/cgi-bin/websc...e_page=p/gen/ua/use/index_frame-outside&flow= Reads

 

Thanks for the reply,eddy2099!
I don't think withdrawal is a problem.I can send the money to my personal account first,and then withdraw them to my bank account.

 

If you have a business account, technically there is no problem withdraw money from your Paypal straight to your bank account since transactions are done electronically.

The same way Paypal does not check your business structure, banks only check that such account exists to accept the transfer of funds.

The real problem is asking for checks.

 

I once emailed Paypal to ask about business accounts. In their reply, they stated that they may sometimes ask for additional documentation to verify your business structure, etc.

However, none of the folks I know who have business accounts have been asked to produce any documentation.

 

Richie...that's a good trick...I remember having planned that once, later didn't proceed that way.

 

Well, technically speaking you are going around the rule. Of course I cannot fault you for that. So technically, the thing about the Business account requiring a company still stands.