IT:AD:PayPal:HowTo:Open the Right Type of Account
Summary
To accept payments with PayPal, you'll need something beyond the basic Personal account Type.
In order to accept payments, in addition to whatever actual account (
Premiere
or Business
) type you have for your business – totally separate it – you'll also require a fake merchant, and at least one fake client account, usable only within the Sandbox
.
.
Process
You presumably already have a Personal
account with Paypal (everyone has) for purchasing things.
It's probably a Personal
account, and it should remain in most cases simply that.
You can upgrade it to Premiere if you want to do business in your name, although you probably should open a second account for your business needs.
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Personal
Account- Summary:
- the most common type of account, this is the 'consumer' account that people use to purchase from
Premiere
andBusiness
accounts.
- Advantages:
- No transaction fees.
- Considerations:
- intended for general public users to pay for online stuff.
- limited to receiving $500/month,
- only one time payments (no subscriptions) using the Website Payments Standard (HTML).
- Can be upgraded to
Premiere
- Disadvantages:
- Not suitable for business.
*
Premiere
Account
- Summary:
- intended for personal online business. Note the word 'personal', not 'business'.
- most people simply skip it, and go for a
Basic
Business
account asPremier
andBusiness
fees are the same, with less limits.
- Advantages:
- has all of the integration options (accepting credit cards, recurring payments, PayPal API).
- Considerations:
- in most cases, fees are 2.9% + $0.30 per transaction.
- Disadvantages:
- lacks reporting, multi-user access, and other advanced merchant services of the Business account.
*
Business
account - Summary:
- all the features of a
Premier
account, plus a few more (ability to operate under your business’s name is one of them).- If you are developing a website that needs to accept payments in 99% of situations, you’ll go with this type of account.
- Advantages:
- can operate under your business’s name is one of them.
- Considerations:
- in most cases, fees are 2.9% + $0.30 per transaction.
- There are different Business Fees. The
basic
is free, but there are other options ($5, or $30 a month)