Should i upgrade my account?

well i have a great idea to open a website for selling products,my paypal is currentlty personal/verified,should i change it to primary or bussiness?what docs does it want?

thanks

 

hi..
if you have more trade means many payments per month then you should upgrade..
but paypal cut paypal to paypal transaction fee after upgrading ur account..it a burden for small earners..

 

I'd suggest you wait and see how much you are selling in a month before you make it a business account, if it's not that much then I gues sticking to personal would be more profitable.

 

Personal account would limit who you can receive money from and how much money you can receive. Basically, it means you can only receive money from other sellers from the 40 out of 190 paypal supported countries.

It be best if you are doing a business to use a Premier account (if you are a private individual) or Business account (if you are a registered business or incorporated company with a business bank account).

All you have to do is to upgrade to a Premier account, no additional documentation required. If you opt for a Business account, just prepare your company's incorporation documents or business registration license if they require you to submit it. In all cases, make sure when you request for payment, use the Request Money option in Paypal and be very specific to the service or product provided.

 

how much would a small earner be numbers wise?

 

Paypal charges you a minimum of 34cents per transaction and as such you probably need to price your product/services above that so that you cover the cost and make some profits.

Check out https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside&countries=ROW for Paypal fees and you can use the http://www.ppcalc.com so as to calculate the modem you be getting.

 

Yup..If you make money through Paypal, you need a Premier or Business account..
Business account(More than $10k) for company
Premier account(less than $10k) for individual

 

if you exceeds the limit they will automatically updates

so create premiere / business account

 

I cant see why business is better than premiere.

 

There is no advantage between the two. If you are operating as a registered business or incorporated company then you can sign up as a business account otherwise if you are not incorporated then the premier account is for you. Feature for feature, there is no difference. However as you know a company can have more than one employee and thus the company account can be shared between its various employees.

 

Thanks for the info. I have a european registered company, which one do you recommend?

 

Well, if the paypal account is for your personal usage then a premier account would do otherwise if you are using the account exclusively by your company then a business account would make sense. In the end, the test is who would be the owner of the account, you or your company ?

 

You should think about the pros and cons, your account could get limited by doing this pm if you want details., i would not worrie about the fees as much.

 

Upgrading not only gives you more options, it's good for your professional image. Even if you are just a freelancer working part-time, "John Smith Consulting" or "Special Creations by Jane Doe" looks more professional than just your name on a personal PayPal account.

Even if it costs a few cents extra per transaction, it's worth it.

 

Upgrading is much needed, you are rewarded with far more benefits and you will also appear to look like a proper professional. Any buisness should upgrade their Paypal to the highest possible rank.