Paypal Business vs Personal account

[Sheetka]

Hello all,

Until now I've been accepting payments for pokemon go accounts on my personal paypal account.
However I wanted more insight how much I receive each month etc. so I upgraded my account to a business account.

However I read on the paypal website itself that there aren't any additional costs to do so, so it seemed like a win-win situation for me, but now when I look a bit further it shows that they now take an extra % from what I receive.

Anyone else experience with this? What kind of account are you using and why?

I'd really appreciate some insight in this

[Bon]

I use Freeagent and link my Paypal to it. Much better reporting.

[Sheetka]

Well it's not only for the reporting. I saw that business accounts also offer the buyer to checkout with credit cards. Plus it seems that selling large quantities of items and receiving all the money on a personal account is asking for trouble, but I'm not sure how that exactly works.

I'd really like to know what additional fees I can expect and when/who pays for these fees etc.

[D3Boost]

Well it's not only for the reporting. I saw that business accounts also offer the buyer to checkout with credit cards. Plus it seems that selling large quantities of items and receiving all the money on a personal account is asking for trouble, but I'm not sure how that exactly works.

I'd really like to know what additional fees I can expect and when/who pays for these fees etc.

If PayPal notices you have a big amount of transactions on your personal account, they will lock it and ask for papers to prove that you own a business. Many people ran into this thinking they won't get in trouble. It's much easier to go business before you run into troubles.

Just go with a business account if you're dealing with a huge amount of transactions on a monthly basis and pay their fees. Fees can vary depending on what country you're located.

If you've been taking payments as friends & family then yes you weren't paying any fees. Besides, the fees are very minimal for the quality of service they provide. I've been using PayPal for over 7 years and haven't had any issue with them. I don't even care about the fees, they are extremely low in my opinion.

[Sheetka]

If PayPal notices you have a big amount of transactions on your personal account, they will lock it and ask for papers to prove that you own a business. Many people ran into this thinking they won't get in trouble. It's much easier to go business before you run into troubles.

Just go with a business account if you're dealing with a huge amount of transactions on a monthly basis and pay their fees. Fees can vary depending on what country you're located.

If you've been taking payments as friends & family then yes you weren't paying any fees. Besides, the fees are very minimal for the quality of service they provide. I've been using PayPal for over 7 years and haven't had any issue with them. I don't even care about the fees, they are extremely low in my opinion.

Yes the fees are good, but I read somewhere that customers pay the fee if they decide to pay with credit card instead (check out as guest), is that true?

[D3Boost]

Yes the fees are good, but I read somewhere that customers pay the fee if they decide to pay with credit card instead (check out as guest), is that true?

No, you will always be paying the fees. The only way to avoid paying any fee is asking the buyer to send you the money as friends & family, but that's just asking for trouble because PayPal will find out about this and lock your account for avoiding to pay their fees while operating a business.

[Sheetka]

No, you will always be paying the fees. The only way to avoid paying any fee is asking the buyer to send you the money as friends & family, but that's just asking for trouble because PayPal will find out about this and lock your account for avoiding to pay their fees while operating a business.

Thanks! 10chars

[zycamzip]

If you are both in the same country, then a large transaction can be sent as a mass-payment, with a business account. That fee is $1 per transaction. Any other country (this is the same for friends and family), will force someone to pay a fee.

A few years back, I ran a business and the monies were in the $5k per week range - I started using a business account here. The differences in percentages are small, unless you are dealing in large amounts of money. You can then consider switching to something like intuit's service which offers a 1.6% per transaction fee - but then you have the problem of dealing with chargebacks more often. There are few services which won't allow for chargebacks - but they all require a balance of the monies in the account.

[HUSKY BOOST]

I use Freeagent and link my Paypal to it. Much better reporting.

Hi man. can you tell me more about freeagent? How it works?

[Softgrip]

All PayPal accounts allow you to send and receive payments.
Personal: Recommended for individuals who shop and pay online, or wish to send or receive personal payments for shared expenses such as splitting of dinner bills or rental charges.
[B]Premier:[/B] Recommended for casual sellers or non-businesses who wish to get paid online, and who also make online purchases.
Business: Recommended for merchants who operate under a company/group name. It offers additional features such as allowing up to 200 employees limited access to your account and customer service email alias for customer issues to be routed for faster follow-ups.