Paypal: Personal Account or Premiere/Business Account?

Many are so skeptical whether to upgrade their Paypal account to Premiere/Business or not. Googling for tips, cons, pros, and opinions of what should be the best Paypal account that suits their needs. A friend of mine once upgraded her account to Paypal Business account, and was disappointed, because each and every time she receives a payment from her customers, there’s a certain fee. She ends up deleting her old account, and creating a new personal account (Btw, you can downgrade it once, only once, hehe). So, what’s the catch in upgrading your Paypal account, if you’ll pay for each and every transaction that you’re doing with Paypal.





So, let’s get to the point. Upgrading to Paypal Premiere/Business account has its own disadvantages and advantages. Let’s point the main pros and cons of upgrading to such. Below are the advantages and disadvantages of upgrading your account to Premiere/Business account.

Advantages:
1. You can receive unlimited Credit Card payments.
2. You can withdraw unlimited funds.
3. Receiving Credit Card payments are subjected to lower fees compared to a Personal Account.

Disadvantage:
1. You will be charged for a certain fee on all Paypal credits that you’ll be receiving.

Below are the pros and cons of staying with your Paypal personal account.

Advantage:
1. You can receive unlimited Paypal credits for FREE!

Disadvantage:
1. You can only receive Credit/Debit payments 5 times a year.
2. You’re monthly withdrawal is limited to $500.00.
3. There’s a certain fee in receiving Credit/Debit payments.

So, should you go for the powerful but expensive Business/Premiere account? or stay with your powerless but free Personal account? If you’ll ask me, I’ll stay with my Personal account, because I’m not transacting large amount of funds in my Paypal account. Business/Premiere accounts are only for those so-called “Big-Time” Paypal users. Like receiving $500.00 Credit Card payments per day, or sending large amount of credits to other Paypal users every now and then, or receiving credit card payments on a daily basis.

Others are forced to upgrade their Paypal account to Premiere, due to the fact that they are receiving Credit Card payments thru Paypal. Other advertisers pay thru Paypal using their Credit Card, not Paypal funds. If you’re curious what’s the difference between ordinary Paypal funds and Paypal payments from a Credit Card, I’m curious also, and that curiosity led me to the obtain the answer of such. Paypal funds are deposited from a Bank Account to a Paypal account, while Credit Card funds, are payments that are charged to your Credit Card. That’s why receiving funds from a Credit Card has certain fees, compared to a deposited Paypal money.

If your source of Paypal funds are not charged from Credit Cards, you better stick with your Personal account, or else, all you’re normal Paypal transactions are charged, even if you’re receiving $1.00 or less. If you’re main source of Paypal income are from ReviewMe, Sponsored Reviews, or other advertising systems similar to those, stick with your Personal Account. If you’re an eBayer, and you’re receiving large amount of Paypal cash that are charged from your customers’ “credit cards”, then upgrade your Paypal account to Premiere/Business.

That’s all for now. I hope this mini article helps you in deciding whether to go for Premiere/Business account, or stick with your Personal account.

By the way, here’s the link of Paypal Fees Table: http://www.paypal.com/cgi-bin/webscr?cmd=_display-fees-outside

If you don’t have a Paypal Account yet you can click here to sign up!.