How Does Paypal Work?

Drowning in so many rules and regulations, the question how does Paypal work is a good one. In this article we will discuss that, plus the Premier Paypal Account and we will explain the advantages of having one. There are actually very few differences between the Premier Account and the Business Account.

However, there are a number of differences between both of these accounts and the personal account.

With the Premier Account, as with the Personal Account, you get 24 hour customer service, fraud protection and the ability to send money. However, it is at this point where the similarity ends.

If you want to do business on Ebay, which you need a PayPal account to do, then you must at least have a Premier Account. Otherwise your Ebay access is quite limited. Also, if you want to be able to accept credit card payments, you will also need to have a Premier Account.

In addition, with a Premier Account, you can get a PayPal ATM or Debit Card. Your merchant services are greatly enhanced. You have a lot of latitude with a Premier Account.

So what is the difference between a Premier Account and a Business Account? Well, the differences are subtle but they are there.

While a Premier Account can accept most payment types, a Business Account can accept all payment types, which makes this a very powerful account. Plus, you can have multiple email addresses, which you cannot have under a Premier Account.

This means if you have several businesses that you run and want to accept payments from multiple email accounts through PayPal, you can do this with a Business Account. On top of that, with a Business Account you can do business under your company name, which you cannot do under a Premier Account.

A business account is just that, an account for people who are serious about doing business online and do not want any restrictions placed on their account.

The downside to a business account is that the fees are a little higher than with a Premier Account. However, because the potential to do more volume is there, if you expect to do a lot of business, the Business Account is certainly worth getting. The advanced merchant tools for a business account really make it a no brainer.

If you are unsure which account to start off with, just start with the personal account and work your way up as you need to. You will find that as you want to do things with your personal account, PayPal will give you their very polite, "sorry, this is not available for your account." You will then decide whether or not, to upgrade. Remember, there are no fees simply for having the account. There is only a fee when you sell something.