Does paypal charge for business account

[cturbo]

Hello all,

I was wondering what is the main difference between a personal account and a business account?

Also, is there any extra charges in terms of monthly payment, and % of each transactions etc?

I am not clued up when it comes to business accounts, if anyone can shed some light, much appreciated.

Regards,
Gary

 

[Merchant UK]

Thats easy, When paypal freeze your personal account you may just have a few quid in it, But when the freeze your business account with possibly hundreds of pounds in it with no warning, then that could seriously affect your companies Cashflow.

There are tales where paypal freeze your account for upto 180 day, and the can because you agree to it when you sign up.

hope that helps

 

[cturbo]

Oh i c. But in terms of paypal fees, is there any difference in comparision to the personal accounts?

 

[Merchant UK]

Oh i c. But in terms of paypal fees, is there any difference in comparision to the personal accounts?

best place to check for the latest fee's whould be on their website, it does vary dependant on your sales. but it can be pretty expensive if your planning to use them long term.

A Merchant account Provider like Paypoint can work out to be much cheaper, and they've made it really easy to get set up.

They have a special offer at the moment http://www.paypoint.net/solutions/complete-solutions/fast-track/

Complete merchant account and payment gateway for only £15 a month, You'll appear more proffessional and be able to take all credit and dibet card payments online and from your site.

Despite what paypal reckon, Not everyone Likes/Trusts Paypal, You may even lose sales if people see that your only using paypal to process your credit cards, I know because i did. The minute i got my Merchant account, my credit card sales increased

 

[cturbo]

Thank you for your information. my designer mentioned this to me as well, i am thinking of using other payment gateway so to speak. Thanks again for your help

Gary

 

[Merchant UK]

Thank you for your information. my designer mentioned this to me as well, i am thinking of using other payment gateway so to speak. Thanks again for your help

Gary

No Worries Gary, Paypal are fine if you want to buy on ebay, but for a business its best to think out of the box and opt for something a bit more secure and proffessional.

Good Luck with your venture

 

[silvermusic]

Some people on here jump on every post about PayPal to bad mouth them and are not entirely unbiased.

To answer your question, there are actually three basic levels of PayPal accounts, personal, premier and business. None of them cost anything to set up and neither are there any set monthly fees on those. You pay 20p per transaction and a percentage depening on the level of business you do, the highest being 3.4% for UK transactions/3.9% for payments from non UK members.

If you're running a business you must have either a premier or business account. The difference between a premier and business isn't that great, the only main difference is that a business account allows you to limit and have seperate access for individuals within a company. If you're a single person operation a premier account is all you need and it can be upgraded later should you wish.

If possible use PayPal as a payment option on your website alongside a standard merchant account, there's so many people with PayPal accounts you'd be mad not to offer it as a payment option.

 

[Merchant UK]

Some people on here jump on every post about PayPal to bad mouth them and are not entirely unbiased.

Not bad mouthing them off, just telling the truth, my company lost over £780 thanks to the theives at paypal and it took me 7 months and a further £80 in county court fee's to get my money back.

You just need to do a google to read some of the horror stories, don't take my word for it and then make your mind up, paypal has one of the worst Customer services when things go wrong, and the fact that they left the UK becaused they didn't want to be tied to the new financial regulations on the use of electronic money, what kind of image does that portray to the customer in the UK?

As i said, paypal is fine for ebay, but for Business you need to be a bit more professional, if people are using their debit or credit card then a merchant account is fine, you don't need paypal

 

[silvermusic]

Not bad mouthing them off, just telling the truth, my company lost over £780 thanks to the theives at paypal and it took me 7 months and a further £80 in county court fee's to get my money back.

You just need to do a google to read some of the horror stories, don't take my word for it and then make your mind up, paypal has one of the worst Customer services when things go wrong, and the fact that they left the UK becaused they didn't want to be tied to the new financial regulations on the use of electronic money, what kind of image does that portray to the customer in the UK?

As i said, paypal is fine for ebay, but for Business you need to be a bit more professional, if people are using their debit or credit card then a merchant account is fine, you don't need paypal

I could google any company worldwide that had millions of customers and accounts and find all sorts of horror stories. what does that prove, nothing.

Read the last line of my post. Having as many methods of payment as possible has to be a good move. Having ex ebay customers buy from me or all of those small time sellers that have virtual money burning a whole in their pockets to spend with me, I'd be mad not to take it.

 

[Rhyl Lightworks]

If you are dealing mainly with members of the public for lowish value purchases, offering PayPal (along with other options on your website) is, I would say, a must, as so many members of the public have PayPal accounts, and will not buy if you don't offer this. You can always limit PayPal payments to below say £100, to avoid expensive frauds.

Barrie

 

[cturbo]

Thanks for everyone's input

You have been very helpful

gary