Sep 012015
 

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In a previous blog we talked about setting up a business PayPal account so you can accept payments from your customers via PayPal.  With this service you can also pay other suppliers or individuals via PayPal.  The following information is taken from the PayPal Help Center (see here)

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.
  • Premier: 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.

The bottom line is that if you are registered company and want to accept payments (or pay others) via PayPal then you need a business account.  The same rational for using company credit cards versus using personal credit cards for business expenses, would be why you would use a business PayPal account versus a personal PayPal account.

Also, please make sure that you understand PayPal fee structure before you start anything, I can be very expensive per transaction and there can be a tremendous “hold back” or “reserves“.

written by RapidPage