paypal question

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kean2

Webmaster
Sep 20, 2010
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Recently I have the option in my paypal account to upgrade it...
now I'm on the personal account...
I don't know if it's good for me ... what are the benefits? do I have to pay monthly fee? when do you think it's good to upgrade the account and when it better leave it that way... ?
 


It's free to upgrade your account in PayPal with no monthly fees. What they'll do is start taking a percent of the payments coming in to you. Starting out at like 2.9% + 30 cents for each transaction. That % will go down when you start bringing in a certain amount a month.
 
The thing is that the Personal account cannot be used for Commercial Purpose. Meaning that if you have a lot of incoming funds then they would look at your account with suspicion. Commercial Purpose means taking money in for any sale of goods or services.If you upgrade your account you will have higher annual limits to receive money. Using personal account for receiving lot of money will finally end up with blocking your account by paypal and freezing your funds... paypal may actually do it without any reason. Write in google: "paypal horror stories" and you will see thousands of really scary stories of people who went bankrupt because of paypal so either way be careful while using paypal...
 
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