Paypal personnal or business?
Thread poster: Lise Berthiaume

Lise Berthiaume
Canada
Local time: 00:32
English to French
Nov 24, 2005

I asked an other question today and I decided to go for paypal but could you tell me, dears colleagues, do you open a personnal account or a business account?

thank you


 

Saiwai Translation Services  Identity Verified
India
Member (2005)
Japanese to English
+ ...
Hi Lise! Nov 24, 2005

Hi Lise,

If you choose personal account, you cannot be able to receive any credit card payments. You can receive money via customer's paypal balance only. But you can receive full amount. No transaction fee.


However for business account, you can receive all types of payments.
But there is transaction fee for receiving money. Everytime you should pay transaction fee.

I have my personal account of paypal, and I request customer to transfer payments via their paypal balance only. They do so.

It's your choice. All the best!

Ashwini(Ms.)
Saiwai Translation Services


 

Lise Berthiaume
Canada
Local time: 00:32
English to French
TOPIC STARTER
Interesting Nov 24, 2005

I will think about it. Thank you for your comment.

Lise


 

xxxsarahl
Local time: 21:32
English to French
+ ...
Depends on your needs! Nov 25, 2005

Coucou Lise !

PayPal Personal:
-all transactions are free BUT
-there's a monthly limit to your balance and withdrawals
to your bank account. I don't know about other countries but
in the US you can only withdraw $500 a month
-you cannot accept credit card payments

PayPal Business or Premier:
-very high limit for balances and withdrawals
-you can accept credit card payments BUT
-you pay a fee for every transaction

So it really depends on your individual situation.icon_smile.gif


 

Andy Lemminger  Identity Verified
Canada
Local time: 22:32
Member (2002)
English to German
Business Nov 25, 2005

In most cases a personal account isn't an option. They are intended for personal use and sending money, neither for business use nor receiving money. Therefore there are some restrictions and there might be more in future.

Just as Ashwini said, you cannot receive any credit card payments with personal accounts and since most clients don't have a Paypal account its credit card feature is the only appealing reason to use Paypal.

Furthermore personal accounts have monthly receiving limits for certain types of transactions ($500.00 USD, $650.00 CAD, €500.00 EUR, or £250.00 GBP). If you want to get rid of the limits you need to have a so called premier account or the business account again.

You also have to consider the fees for business and premier accounts that are substantial (up to 2.9% for receiving funds and an additional exchange rate fee of 2.5% for foreign currency conversion) and the fact that Paypal has withdrawal limits for certain countries and new accounts (meaning that you could have money in your Paypal account but no way to access it for some time).

Honestly there aren't many things speaking in favour of Paypal accounts anymore...

Andy
www.interlations.com


 

Lise Berthiaume
Canada
Local time: 00:32
English to French
TOPIC STARTER
Thank you Andy Nov 25, 2005

In other words, you mean that is useless to have a paypal account? Well a lot of companies want to pay with paypal and if you do not have it it means no work. Well it is the way that I understand it.

Is it true?

Lise


 

Andy Lemminger  Identity Verified
Canada
Local time: 22:32
Member (2002)
English to German
Paypal useless? Nov 25, 2005

Lise Berthiaume wrote:
In other words, you mean that is useless to have a paypal account?


Hi Lise,

Yes, for my translation work it has been useless so far but this is only my experience.

Well a lot of companies want to pay with paypal and if you do not have it it means no work. Well it is the way that I understand it.
Is it true?


I only work for businesses and agencies. So far they have always preferred paying by check or wire payments. No client ever has asked me for Paypal and whenever I asked them they did not use it.
The Paypal fees are so high in the meantime that it even makes more sense for me to ask for wire payments (not to mention checks that don't cost anything).
It might be different if you get your jobs from individuals or smaller companies or if you are located in other countries but as said I never could use Paypal.

Andy
www.interlations.com


 

PCovs
Denmark
Local time: 06:32
Member (2003)
English to Danish
+ ...
Most clients will respect your choice. Nov 25, 2005

Lise Berthiaume wrote:

Well a lot of companies want to pay with paypal and if you do not have it it means no work. Well it is the way that I understand it.

Is it true?

Lise


No, in my experience, it's not true that you will lose the jobs.

I have had a couple of clients whishing to transfer money using PayPal. I don't have PayPal, and frankly I see no reason to, considering the rather high transaction fees, so I have informed these clients that I cannot accept payment this way.

None of my clients have turned their back on my so far, so I don't think you should worry too much.


 

Harry Bornemann  Identity Verified
Mexico
English to German
+ ...
Both Nov 25, 2005

Lise Berthiaume wrote:
...do you open a personnal account or a business account?

You can have both, a personal account and a premium or business account. I use them with 2 email adresses and 2 bank accounts (which are free, too).icon_smile.gif


 


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