it:ad:paypal:howto:open_the_right_type_of_account

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. .

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 and Business 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 as Premier and Business 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)
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  • Last modified: 2023/11/04 01:53
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