Should you open a Paypal Personal or Paypal Business account

Register, Verify payment accounts

1. PayPal Personal Account

Personal accounts are the easiest and simplest type of PayPal account to sign up for. On top of handling basic online shopping, personal accounts also have a number of benefits to users:

Allows users to shop on most e-commerce platforms and websites such as: eBay, Shopee, Shopify, etc. with your credit card, debit card, or bank transfer.

  • Allows users to send or receive money to or from friends and family.
  • Accept payment by debit card, credit card, and bank account with low fees when account holders are sellers on e-commerce platforms.
  • Limit rate is low with low trading volume.

Note: In the past, PayPal used to have a premier account. It was a personal “VIP” account with more e-commerce features. But they stopped supporting this since they haven’t updated their website in many years.

Notes: Only “VIP” PayPal Business accounts with large monthly Volumes can register for this service. See more on how to complete PayPal Underwriting to hold a VIP PayPal Business account, or contact Global Link Asia Consulting for further information

2. PayPal Business Account

PayPal Business Account is a perfect option for the online business of a company or individual seller having high volume of transactions. With a PayPal Business account, account holders can:

  • Accept payments through: credit card, debit card, bank transfer with low fee and unlimited transaction amount.
  • Instead of using your personal name, use business name in your business transactions.
  • Grant separate access rights to some of their employees. They can log in to their accounts from many IPs without fear of being limited (unless the IP is blacklisted).
  • The chance that the Business account will receive a PayPal limit is higher than that of PayPal Personal account, especially when the account has a large trading volume and grows quickly. However, the account holder has more ability to resolve limitations or appeal when being limited due to violations of PayPal’s policies.
  • You can set up a separate PayPal account for each company or project when you have various business projects.
  • Complete an underwriting to upgrade a regular business account (if eligible) to PayPal Business VIP to use additional services or products usually requires:

3. PayPal Personal Account vs. PayPal Business Account

4. When to upgrade to PayPal Business?

Individuals can register and use both personal and business PayPal accounts at the same time. Users can also upgrade their personal accounts to a business account if they have a lot of selling activities on these accounts.

During the period where sales grow rapidly, the sudden increase in the transaction volume in a short time would easily cause the PayPal Personal account to be locked, limited, etc. Unlocking or lifting the limit that has been put on these PayPal Personal accounts is not always successful. Meanwhile, PayPal Business account will be prioritized for support in this case.

In addition, to improve the Trust score for a PayPal Business accounts, choosing the country where the account is signed up will critically influence how smooth the business’s cash flow will be. Setting up a company in Singapore or Hong Kong is the first choice for any business looking to boost their sales and enhance their brand.

However, not many individuals or businesses have adequate knowledge and experience to register, manage and maintain a PayPal Business account in the most effective way.

Global Link Incorporation is a team of experienced and highly specialized consultants who will support individuals or businesses to register, manage, and maintain a PayPal Business.

Global Link Incorporation – your trusted one-stop business service provider

Global Link Incorporation is here to help you bring your business to the next level. We aim to be your trusted long-term business partner. Our team of professionals offers the following services:

  1. Set up companies in various countries around the world such as Singapore, Hong Kong, the USA, the BVI, Seychelles, and so on: we leverage our rich experience to help you choose the best location for your business needs and budget.

  2. Open bank accounts: we work directly with world-class banks to help you select the best banking option and increase your chance of successfully opening a bank account.

  3. Optimize payment solutions: we work directly with multiple international payment solution partners to help you integrate various payment solutions, get better transaction fees, and optimize your business’ international cash flow.

  4. Handle tax and accounting: we help you keep accounting records in accordance with international standards. We make complying with international regulations neat and seamless.

  5. Register US Trademarks, Copyright, US Office Address, phone number, website domains: we can help you handle them all so that you can focus on your core business.

Why wait? Contact us now!

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