Which Paypal account is best: Personal vs. Premier vs. Business account?
You’ve already signed up for a Paypal account but have still not decided which type to use. Read more to discover what type of Paypal account suits you best.
There are three types of Paypal accounts: Personal, Premier, and Business.
Personal accounts are, obviously, for the personal use of individuals. They can accept up to five (5) credit or debit card funded payments per year and are assessed a transaction fee. Other payments received are not charged a fee.
Premier accounts are for members who have a high transaction volume or would like to access Paypal’s Core and Premium features (explained below). Premier accounts may operate under an individual name. Unlike Personal Accounts, they can accept an unlimited number of credit or debit card payments. However, all payments received are charged a certain fee. (Paypal’s fee schedule here.)
Business accounts are for businesses, allowing them to operate under a company or group name and accept payment from customers without PayPal accounts. Like Premier accounts, they can accept an unlimited number of credit and debit card payments, although all payments they receive are charged a certain fee.
Here are the Core features of Paypal available to all types of accounts:
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- send money for FREE
- request money from other Paypal members
- access and use Auction Tools
- incorporate Website Payments
- download log of account’s transactions
The following, however, are Premium features available only to Premier or Business accounts:
- all of the Core features above
- ability to do business under a corporate or group name
- accept unlimited credit or debit card payments
- use and manage subscriptions and recurring payments
- ability to make Mass Payments
- give multi-user access to an account
- customizable log of transactions
So which account type is best for you?
Well, it all depends on your purpose of using Paypal. If you don’t regularly receive payments from other users, a Personal Account would be best. This type of account allows you to receive up to 5 debit or credit card payments in a year and, in addition, the payments you receive are not charged a fee.
If, however, you are receiving regular payments from other people, especially those who use credit or debit card, a Business or Premier account may be best. An advantage would be the unlimited number of times you can receive debit or credit card payments but a big disadvantage is that all your receiving transactions are charged a fee. If you run a business and use Paypal to receive payments, a Business or Premier account is absolutely necessary.
Discuss more about Paypal in our Payment Processor/E-currency board.
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March 19th, 2008 at 10:35 am
Hi, I have read that in Personal account receiving payments funded by Paypal Balance, Transfer and e-check is free but for debit cards, credit card there is a fee of 5.3%plus $o.30
On the other hand receiving any kind of payment in Premier account will automatically deduct $2.4% plus $0.30.
Personal account offers free when the sender has Paypal Balance, Paypal Tranfer and e-check but how would you know if the sender is using these service? I don’t want to end up paying for 5.3%plus $o.30
March 18th, 2008 at 9:36 am
Uy pareho nga. I’m sure mas mataas ranking nyan kasi magaling ka sa SEO hehe…
March 18th, 2008 at 9:32 am
I don’t think that’s possible, Visible names and email addresses are actually what make Paypal a transparent payment processing system. The only way you can “change” or “hide” your full name is to use a Business account where you can use a company or business name.
March 18th, 2008 at 9:15 am
[...] Types of Paypal accounts: Personal vs. Premier vs. Business Account [...]
March 15th, 2008 at 1:58 pm
Okay lng po ba pag Personal account if I regularly receive payments from paid to blog programs like Smorty, etc? Thanks. I haven’t tried withdrawing from my Paypal to my bank account yet. Can you please assist me on which bank to choose as I want to withdraw my earnings ASAP. I mean, ano po yung mas reputable at mabilis, it is BPI, Metrobank, or BDO? Salamat po ng marami.
Another question po… I already earned about $200 from my Google Adsense… pero I haven’t recieved my Adsense PIN yet. My first PIN was sent last January, but since mali po ung address ko, obviously I never received it. I requested another PIN last February 9 with my correct address, but until now, ala pa rin po. I requested another PIN again today, hoping mareceive ko na po. What could be the problem? Please help. Sayang din po pag di ko nareceive ung earnings ko. I really appreciate your help and advice. THANKS and MorE POWER.
March 14th, 2008 at 11:56 pm
hehehe I have an article similar to this one kuya:
http://www.jehzlau-concepts.com/2008/02/paypal-personal-account-or-premierebusiness-account.html
March 14th, 2008 at 3:12 pm
This is a nice “short and sweet” overview of the different types of PayPal accounts, but it might be nice to have more detailed information included for each entry or have answers to some common questions.
For example, is it possible to use the PayPal donation buttons on my site and still have a personal account? What if I want to sell ebooks for very small amounts like $1 and don’t expect to exceed the $500 per month transaction volume limit? Can I still use a personal account for this (until I do enough sales volume to go over the limit), or do I have to have a business/premier account because I would be selling stuff online?
I could always go back to the PayPal site and look through their info to find out about this stuff, but I was hoping to find the answers to these kinds of questions in this article somewhere since the main topic was about PayPal.
March 14th, 2008 at 1:42 pm
what if gusto mong itago ung ‘full name’ mo sa magbabayad sayo thru paypal is it possible?
March 14th, 2008 at 8:09 am
Darn it, i had hoped to use my personal account for a psuedo hosting business im putting up. hehehe i guess i was wrong.