Signing Up With Paypal: Which Account is Suitable?
When I decided to find more freelance sites, I find it a requirement to maintain a Paypal account to collect the earnings from several different sites. The great thing about Paypal unlike before is that it could get earnings directly to any Philippine bank account through electronic funds transfer. (The banner below should help you sign up with a new account.)
Some new users are confused with which Paypal account to use. Paypal offers three types of accounts: personal, premium and business accounts. I own a personal and a premium account – this is allowed by Paypal as stated in their terms of service.
The Difference
Paypal personal account is the one to use when simply collecting earnings from freelance sites. It can also be used for online purchases too. There are so many merchants that accept Paypal payments. Receiving funds from other Paypal accounts (Paypal balance, instant transfer and eCheck) are free. It is possible to receive funds from credit or debit cards for a limited number of transactions. Withdrawal limits for these accounts are limited too.
Paypal premium and business accounts are made for those who do businesses such as those in eBay. This is probably why Paypal charges less for receiving funds from debit and credit cards. Unlike Paypal personal accounts, these accounts accept an unlimited number of payments from these cards.
Collect Payments Using Paypal Personal Accounts
I would highly recommend using a Paypal personal account when simply taking off earnings from several freelance sites. If you are into mass payments and selling transactions then simply use another Paypal premium or business account.
Share your experience with Paypal!
mi
December 12th, 2008 at 4:25 pm #
Hi, If I have both personal and business account can i use them to withdraw funds using one Unionbank EON visa card? or should i have different cards for each account?
Candice
July 13th, 2009 at 10:18 am #
hi gem,
kung may payoneer and paypal ka, how do you choose paypal as your payment method. Should I unsubscribe from payoneer first? thanks.
Gem
July 19th, 2009 at 11:03 pm #
Are you using oDesk to withdraw funds? No need to unsubscribe from one payment method. I actually have 3 withdrawal methods in my account (Paypal, Payoneer and Moneybookers).