Create new paypal account6/18/2023 ![]() ![]() There are no setup fees or monthly maintenance fees.Tax purposes make it difficult to separate business and personal transactions.There are a limited number of goods you can sell and payments you can accept.There is a fee for using online credit cards and debit cards.The fee for instantly transferring funds is 1 percent (up to $10). Your personal bank account can be linked to your sales money for free.There are no setup fees, monthly fees, or termination fees.If you sell from eBay, Etsy, or another website occasionally, PayPal personal is an easy way to pay.PayPal Cash Plus, PayPal Cash, and linked bank accounts do not charge for transfers.Business or personal bank account number.General business information (e.g., business type, keywords associated with your business, etc.).Business customer service contact information.PayPal account owner’s name and address.Here’s what you need to set up a PayPal business account: Businesses are allowed to register accounts under their company names rather than their own, so it’s easier to protect their privacy when they make purchases. ![]() Up to 200 employees can log into a PayPal business account and access PayPal features like setting up shipping methods and fees, inventory tracking, and profit tracking.Ī PayPal business account also provides a suite of tools for businesses to manage sales growth, including support, label printing, and tracking payments. you can also set up recurring shipments in a business account, which lets customers get their shipments re-ordered in one transaction, and process in-person transactions as well. PayPal business accounts are particularly useful for turning your website into an eCommerce portal that seamlessly integrates with PayPal for payments. Checking account number and routing number (optional).Debit or credit card information (optional).To set up a PayPal personal account, you will need the following: ![]() PayPal personal accounts don’t allow you to accept many payment methods (e.g., you cannot accept invoice payments) or use many other features available through business accounts.Įssentially, a PayPal personal account is perfect for sellers who sell only occasionally or informally. In general, when a buyer makes a purchase through a personal account, their full name will appear. ![]() For example, for artists who occasionally sell their work, a personal account might be appropriate. But it’s possible to sell goods and services from this type of account as well.Ī personal PayPal account can easily accept payments from potential buyers if you occasionally need to sell goods. PayPal personal is mostly used to make quick and easy payments to friends and family. These are the main differences between PayPal personal vs business but below we will explain them in detail. BusinessĪs the name suggests, PayPal business is intended for business Features of PayPal business include allowing up to 200 employees limited access to your account and providing a customer service email alias for faster follow-up on customer issues. For example, people who shop online, pay online, or wish to split dinner bills or rental charges, casual sellers, or non-businesses who want to be paid online and make online purchases. PayPal personal is a very commonly used money transaction and payment platform intended for all things, well, personal. PayPal also lets you securely send and receive money from friends and family.īut, did you know that PayPal has two versions: PayPal Personal and PayPal Business? What Are The Main Differences Between PayPal Personal and Business? Personal As a middleman, PayPal protects your payment information between banks and merchants. The platform enables you to make purchases online with participating stores by linking your bank account, credit card, or debit card to your PayPal account. PayPal is a service that lets you securely send and receive money and pay for things online. You’ve probably heard of PayPal, and you might even have an account. ![]()
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