Yo friends, I have got a Premier Account and now im starting a Freelancers website,where i have to accept and send a lot of payments to the members and all. So i think,its good to have a Business account for this.. What do you all suggest?? Is business account necessary??? Well,if YES,then what all formalities are required to be completed in order to be eligible for applying for a Business account.. Plz help!!
You only need a Paypal Business Account if you have a registered business or incorporated company. In which case, the company or business would be the Paypal account holder and the company needs to appoint one or more representative to manage the paypal account. If however, you are operating as a private individual with no company backing then a Premier account would suffice. With a Business Account, you would need a business bank account, incorporation or registration documents issued by your state or country or chamber of commerce and you will need to issue invoices with your company's letterheads and such.
to convert to a business account you dont need any document.... but sometime paypal may ask you to submit business docs which can cause real problem to you if you dont have a business docs.... but normally you will not have any problem from them....
I started my own business back in 2005 and opened a business account with them the same year. I believe it's necessary if you wish to accept recurring payments. A business account offers more flexibility for a business, the automation in it is great. Read up on both accounts, though if your going to start your own design business and wanting to accept payments online, business account is the way to go goldberg. -Pokey