Is paypal Business Account free?

[jaames]

If yes, why does it say this:

"Accept all payment types for low fees"?!

Also, when opening a PayPal account, which account is better?

Personal, Premier or Business?

Any advantages/disadvantages to which to use?

[stapel]

Is the "business" account free? It's free to set up; it isn't free to use. Whoever told you that there would be no fees involved in being able to process credit-card payments was mistaken.

Which account type is "best"? That would depend on what you're wanting to do.

If you will only be taking transactions from people with established PayPal accounts, or don't mind waiting for stuff to clear, or don't have much volume (or are only using PayPal to pay other people), then the "Personal" account (with its restrictions) could be the way to go.

If you would like to be able to accept payment from all customers (even credit-card payments), then you might want to upgrade to "Premier". The fees aren't that much, but their presence (and the need to cover them) might affect your pricing structure. That's a question only you can answer.

I haven't used "Business", as my needs aren't as extensive or specialized, so I can't say much about that.

Eliz.

[jaames]

By free, I mean, I don't have to pay anything for business account unless theirs a transaction right? Then they will take a fee out of that portion, correct?

Or is it that I have to pay a standard payment, evey month or so, despite lack of transaction(s)?

I prefer business, but I need to get these opinions before I go ahead with it.

Added - Can someone please also clarify how does Paypal pay you? Is it money directly into bank account or by check through post?

Thanks.

[txbakers]

There is no charge to open a PayPal business account. they only take their money when transactions are made.

To get your money, you either request a wire transfer (free) or request a check (charge) or other means.

I always use the wire transfer and never had a problem. PayPal rules.

[jaames]

Ok I’m convinced that I want to use the business account, using the name of my website.

But I doubt my bank would recognize this, as would they most likely only accept anything paid to the bank under my name.

Also, I checked the sign up for business account, it didn't say anywhere where i need to put in my bank detail for wire transaction?

[physics]

I think once you sign up you can add any bank account with any name as long as you can confirm it by following PayPal's confirmation procedure. Also they PayPal FAQ's probably have all of this info...

[Tropical Island]

Standard transaction fee for credit card payments in the Premier account is around 3%.