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Comprehensive Guide To PayPal - 3 Types of Accounts
In our last installment of our complete guide to PayPal, we actually signed up with PayPal and created a Personal Account. In this installment, we’re going to begin our tour of the vast PayPal site
and go over some of the main items there. There’s going to be an enormous
amount of material to cover, so just take things nice and slow and you’ll be
just fine. Probably
the first place we should start is with the 3 types of PayPal accounts so that
you understand the differences between them and the advantages and disadvantages
of each one. Personal
Account – This
is the most basic PayPal account. As with all the PayPal accounts, you can send
money with a personal account. You also get 24 hour fraud protection, which is a
nice thing. This way you don’t have to worry about others ripping you off with
a bogus sale item. You also get free customer service from PayPal as well,
regardless of the type of account. Where the personal account is lacking is in
the following areas: Ebay
Tools – You
get very limited access to running an Ebay business with a personal account. So,
if you’re planning on doing so, it is suggested that you upgrade to one of the
other accounts. Merchant
Services – This
is probably one of the biggest reasons to upgrade from a personal account. You
get very limited merchant services which virtually make it almost impossible to
sell your own products through PayPal. The restrictions on monthly volume and
other things make personal accounts pretty useless if you want to sell things
online. Accept
Credit Or Debit Cards – This
is also a feature that is quite limited with a PayPal Personal Account. If you
can’t accept credit or debit card purchases, the number of people you can sell
to is greatly limited. Also,
with a personal account you have absolutely no access to a PayPal ATM or Debit
Card and do not get multi user access, meaning you can’t set up more than one
email address in your personal account. This also makes it hard to do business
if you have more than one business and have different domains and email
addresses for each one. If you want to accept payments through multiple email
addresses, a personal account will not let you do this. As
you can see, unless you’re just an occasional buyer or seller, taking payments
from others strictly through PayPal funding, a personal account is pretty
useless, at least in my opinion. The
plus side of this account is that when you have a transaction, where you sell
something, there is no fee attached to it. In other words, if you sell something
for $100, you get the whole $100. With the upgraded accounts, this isn’t the
case. In
our next installment, we’re going to pick up our review of the different
accounts, continuing with the Premier Account. See
you then.
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