Paypal Business account versus Paypal general account

the_raven_group · #1 (**permalink**) 05-28-2008, 04:01 PM

If I intend to make a lot of money from trading on-line would it be better for me to upgrade my paypal account from the standard version to the business account?

As I understand it the business account allows you to withdraw a lot more money, i.e. there are no yearly or monthly restrictions.

Does it cost money to upgrade?

liowkc · #2 (**permalink**) 05-28-2008, 09:07 PM

It is free to upgrade but take note that if when you receive payment in cash, there is a fee, This is free for personal accounts.

the_raven_group · #3 (**permalink**) 05-29-2008, 06:45 PM

so would it make more sense to have two paypal accounts, operating off of two separate e-mail accounts. One set as business and the other set as personal?

Do you know how much the fee is mate?

liowkc · #4 (**permalink**) 05-29-2008, 10:54 PM

I think for receivng credit card payments you have to pay 5.4% plus 50 cents and free for cash payment for personal account. For business account, you pay 3.4% plus 50 cents for credit card payments and a % (can't remember how much) fee for receiving cash. Check paypal website for all the fees payable.

Mate, you are a Brit not Aussie , bullocks

hwang · #5 (**permalink**) 05-30-2008, 11:48 AM

It would like a viable option to have two different account types to save on the fees but the actual fact is according to paypal TOS, a single person is only allowed to have one account. Apart from the fees, business accounts also have access to merchant tools and you can also setup your own subscription links.

liowkc · #6 (**permalink**) 05-30-2008, 09:16 PM

That is very strange. A paypal human told me that a person can have unlimited number of accounts as accounts are tagged by email address.

Anway, I have 2 paypals, one personal and one premier (business).

hwang · #7 (**permalink**) 05-31-2008, 12:31 AM

Sorry I should rephrase that because I also misinterpret that myself. One account for each type. It's supposed to mean a person is allowed one personal account and one business account. But some people are manipulating it by channeling their payment and select which accounts to divert to, so that they can save on the fees which are not allowed according to paypal's TOS.

life31 · #8 (**permalink**) 05-31-2008, 11:42 AM

Quote:

Originally Posted by liowkc

That is very strange. A paypal human told me that a person can have unlimited number of accounts as accounts are tagged by email address.

Anway, I have 2 paypals, one personal and one premier (business).

Unlimited accounts

!! Strange Very strange!!

What I have know id two accounts per person ie 1 business and 1 personal. Apart from that you can aslo add a different email address to paypal and receive payments on that email too. But then how many I dont know.

liowkc!! Yes they are tagged by email address but then they also need your identity and your CC too

the_raven_group · #9 (**permalink**) 05-31-2008, 07:19 PM

I have about four different paypal personal accounts, all linked to different e-mail adddresses. It works absolutely fine and I've never had a problem. They are all registered under the same name and the exact same bank account details. Its great.

hwang · #10 (**permalink**) 06-01-2008, 02:21 AM

Strange. Wo.. but I better not do that. In case paypal finds out, they can always act according to what they want because it's against their TOS.

Quote:

Originally Posted by the_raven_group

I have about four different paypal personal accounts, all linked to different e-mail adddresses. It works absolutely fine and I've never had a problem. They are all registered under the same name and the exact same bank account details. Its great.

life31 · #11 (**permalink**) 06-01-2008, 02:31 AM

Having four differend accounts on on a single persons name does make me a bit concerned about you only for the reasons that paypal has been limiting accounts these days.

Rest I dont see any trouble but if its detected by paypal then might be they can ban or limit some of your accounts. Better beaware!

the_raven_group · #12 (**permalink**) 06-01-2008, 07:59 AM

Well I have more or less shopping using two of the if I'm completely honest. One is used for receing payments for e-bay and other on-line projects such as my search funds and so on. while the other account is used to purchase items on-line.

Don't worry guys I'm not an internet criminal or anything like that.

Antster · #13 (**permalink**) 06-06-2008, 08:04 PM

Which one would you recommend for online projects?
That's mainly where I get my source of income for Paypal from anyway.