Help - Which PayPal Account To Choose?

[glaxxon]

Hey Np'rs,

I am considering upgrading my personal paypal account to premier/business or creating a second account which is premier/business. My primary motive to do this is to be able to accept credit card payments.
But before doing this, i'd appreciate it if you guys could share some insights and benefits of each type of account over the other. Or if there is a better way to accept credit card payments?
Also one major think i am confused about is the fees involved with all these accounts. Different sources quote different rates. Please note that for me, not being in US, cross border rates and fee apply.

So i'd appreciate if you guys can suggest me the best way.

Thanks for helping out, in advance...
:wave:

 

[glaxxon]

Any insights?

 

[jmsadare]

You can choose Bill Me Later as a paypal account. Bill Me Later is available at thousands of online stores that accept PayPal. It is also available on eBay and exclusively on thousands of other online stores that accept Bill Me Later.

 

[glaxxon]

Any more opinions?

@jmsadare i didn't exactly get what you meant by that.

 

[glaxxon]

Nobody?

 

[NPer]

Nobody?

Hey glaxxon

I have a business account with Paypal. I do not have a personal account with them, so I am unable to really compare as far as experience goes.

I also reside outside of the US, so hopefully this helps.

What I can tell you is:
1. Usually one cannot have two paypal accounts-only in the case where one is personal and one is business. (so you are fine here if you go this route)
2. If you want a business account, you actually have to own a registered business such as LLC, (Pty) Ltd, etc as Paypal requires the registration number of your business and tax details.
3. To receive donations, (e.g. one of your sites you want to earn income from "donations"), your personal account will not work for this. It has to be a business account.

I am not sure if I am covering all the questions which you may have, but if you have specific questions you would like to ask me, feel free to do so!!

Hope this helps!!

Nubiano :wave:

p.s. I never knew that one could not receive credit card payments on a personal account-interesting to know... With a business account you can.

 

[glaxxon]

Thanks.
I have a personal and am looking to opening a premier or business account. If having a registration no is required for a business account, then for now business account is out as an option. So mainly looking to open a premier account.
My main concerns are the fees associated with the transactions. If someone could explain them to me, id appreciate that. Also most of my transactions shall be cross border.

 

[maniako]

Hey glaxxon

3. To receive donations, (e.g. one of your sites you want to earn income from "donations"), your personal account will not work for this. It has to be a business account.

mmm i'm thinking to register a business account to receive online donations for a foundation... thanks for the info!

 

[lothos]

If you have a business, like an LLC or Corporation, then go for the business account. If not, and you'd like to personally accept credit cards, then go for the premiere account. I have an LLC, and I have both personal and business accounts and that's allowed as well.

The fees are clearly stated on their website, but basically it's 2.9% plus 30 cents, for each transaction. You can check on their website for the cross border fees.

 

[glaxxon]

If you have a business, like an LLC or Corporation, then go for the business account. If not, and you'd like to personally accept credit cards, then go for the premiere account. I have an LLC, and I have both personal and business accounts and that's allowed as well.

The fees are clearly stated on their website, but basically it's 2.9% plus 30 cents, for each transaction. You can check on their website for the cross border fees.

Thanks, thats what i wanted to confirm - If the fees is same for premier as well as personal account?

 

[lothos]

Thanks, thats what i wanted to confirm - If the fees is same for premier as well as personal account?

Yes, the fees are the same.

 

[jomon003]

You can get appropriate feature details from their own website at https://www.paypal.com/cgi-bin/webscr?cmd=xpt/Marketing/general/PayPalAccountTypes-outside

 

[rajhasan]

Imo, Skip personal account and choose between other two options you have. According to your needs.

 

[~ The 34 Year Buzz!!]

If you have a business, like an LLC or Corporation, then go for the business account. If not, and you'd like to personally accept credit cards, then go for the premiere account...

+1
Business and Premiere are virtually the same*

*Unless they made recent changes.