• Paypal Personal Account Vs Business Account India Login

PayPal Business Vs. PayPal Personal. This payment processing company has evolved since its early days and now provides business and personal account options for its customers. Although the business and personal PayPal accounts offer many of the same options, there are clear variations between the two account types. On top of Personal, Premier and Business account. PayPal also allows one to open a student-type account. PayPal also allows one to open a student-type account. It can be opened by the parents for their teen, or can be apply by the teen themselves as long as they are 13 years old and above. Personal Account – It is an account provided by PayPal that allows users to make safe and secure online payments. It can also be used to send money and accept payments. It is an account most suited for users who buy and sell online. You can also link your checking accounts with your PayPal account for easier money transfer and payment options.

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PayPal's Premier and Business accounts are intended for people or businesses that handle a high transaction volume, usually for buying and selling or Internet-based companies. The type of account you choose primarily depends the size of your online business, the way your PayPal activities affect your taxes and the number of payments you send out.

Corporate Entities vs. Intermittent Sellers

PayPal recommends that all businesses using PayPal choose a Business account. A Business account supports all of the online financial transactions necessary to run a company, including processing credit card payments and sending supplier payments via email. A Premier account, on the other hand, is recommended for people who want to buy items online but also receive payments -- what PayPal refers to as 'casual sellers.' Freelancers, people selling goods online and contract workers are ideal candidates for the Premier account.

Tax Identification Status

If you are using PayPal for your business, one of the most important distinctions between the Business and Premier accounts is the name. A Premier account is listed under an individual's name, who is then responsible and liable for all taxes and actions through the account. A Business account, on the other hand, can be run under a group name or business name with an Employer Identification Number, which is ideal for larger companies. Both account types allow limited access for employees.

Mass Payment Processing

The biggest difference between Business and Premier accounts on PayPal is the payment system. With a Business account, you can send mass payments to large groups of people at once; the Premier account requires that you handle payments individually. Mass payments might be used to pay affiliates, pay employees or transfer rebates. How to install fallout 4 mods pc. A Business account uses the PayPal API to make mass payments, so you can transfer money to all recipients with a single click.

Paypal Personal Account Vs Business Account India Login

Additional Payment Fees

PayPal uses a three-tiered system called PayPal Payments to charge fees each time a user sells a product or service. A Premier account is likely to require the standard PayPal Payments option, which has no monthly fee and charges a percentage of the transaction only when you sell something. A Business account, on the other hand, will need PayPal Payments Advanced or Pro, which are $5 and $30 a month, respectively. The monthly charge is in addition to the base transaction fee. A business that wants to accept payments directly from its website will need to add the Advanced plan. The Pro option includes the features of the Advanced plan plus customized checkout pages and the Virtual Terminal service, which accepts payments through phone, fax and mail orders.

About the Author

Elizabeth Smith has been a scientific and engineering writer since 2004. Her work has appeared in numerous journals, newspapers and corporate publications. A frequent traveler, she also has penned articles as a travel writer. Smith has a Bachelor of Arts in communications and writing from Michigan State University.

Choose Citation Style

A question that refers to Paypal for setting up a donation page. Should I use a personal account or create a bussiness account for this? I am using a personal account right now but refers to my Twitch username (so instead of my real name it says it's Palemonkey's account). Should I keep this or should I create an bussiness account to protect personal information?

This is mainly about keeping my information private. If it also includes something with tax changes please mention it.