asked in Business+Finance by (347 points) 2 7 31
Personal PayPal account or business account in PayPal? Which one is better to receive money?
replied by LEGEND (6,086 points) 3 27 50
For me Personal account is the best as I am using it for quite a long time now. I think for 10 years now. I haven't had a business account so I can't say about it. 
replied by ELITE (3,662 points) 7 15 56
I am using Personal account since its for personal transactions and not for businesses.
replied by VISIONARY (9,008 points) 7 17 71
Same here personal account is the best to open for one's use unless it is for business then one can upgrade to business account.

3 Answers

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answered by (385 points) 1 3 13
selected by
 
Best answer

Both personal and Business paypal account are same with not much difference; they have same fees too. Personal is recommended for personal use like receiving and sending money, online purchase etc; however business is used for merchants which allows limited access to 200 employees and with customer service email.

There is also one "Premier" type for casual sellers who are not in merchant service.

Users are allowed to have only one personal and one premier or business account. It is up to you to decide what you want to use.

0 thanks
answered by LEGEND (6,394 points) 6 14 36
If you don't any blog or forum or any website but rather working online then the best PayPal account is personal. Business accounts are for those kind of people transacting with huge sums of money. The good thing with a business PayPal account is that it cannot be limited like a personal account. Also personal account has got lower limit of cash which you can send/receive unlike a business account.What am not sure of is whether it charges the same fee when receiving cash.
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answered by VISIONARY (9,060 points) 5 21 52
No matter what type of a PayPal account you choose, you'll need to fill it out completely, and add a credit card or bank account to get verified. Many people add both to give them the option of what they want to use when checking out or buying online. 

When you first apply for a PP account it is simple and easy. Everyone can apply. Right away they ask you if you'd like a personal or business account. A personal account is the best one to start off with. You can always upgrade later to a business account if you need one.

Personal accounts allow you to receive, send money, transfer funds to your bank account and have the option of applying for a PP debit/credit card. Furthermore, on a personal account, you can send money to your family and friends for free. There are no charges to do this on either side. 

A business account you'll need to fill in your business name, address, and some other information in order to apply. In a business account, you can accept larger transactions and also do the same things as a personal account except for one thing. You can't send money to family or friends for free like in a personal account. You will pay the charges on this one. 

Unless you own a business or have an online store it is better to just have a personal account.

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