PayPal is one of the best and most used online payment service providers all over the world.
Using the PayPal business account the online sellers can do transactions faster and easier.
Paypal accepts and processes the payment methods of credit card payments, debit card payments.
And more PayPal system is available, in over 25 currencies and from over 200 countries.
PayPal business account help the business owners to manage and scale their companies.
In this blog we are going to discuss on the steps to open a PayPal business account, how to upgrade and downgrade your PayPal business account.
Types of accounts
A PayPal business account compromised in to two options
PayPal Payments Standard
This kind of paypal payment standards business account doesn’t charge any monthly maintenance fee from the account holders.
And also it allow the users to accept all PayPal’s payment methods
( in exception it won’t accept the payments method done via phone, fax, or virtual terminal).
It is well suited for the ideal business owners.
PayPal Payments Pro
The PayPal Payments Pro is an additional feature that allow perks that come with the basic account.
It has the ability to accept payments via phone, fax, or virtual terminal.
It gives business owners the complete access control over their checkout pages, which makes it ideal for those who really want to take their e-commerce site to the next level.
You have to open a separate bank account for your business,
Keep your paypal business bank account separate from the paypal personal bank account
This will make it much easier to track payments and business expenses, complete your taxes, and gauge your business’s rate of growth.
Open A PayPal Business Account
After opening the bank accounts, you can sign up for a PayPal business account in a few simple steps.
Step 1: you have to provide a Business name.
Be careful while entering a business name
Because this is going to be a record in all the customer invoices later.
Step 2: You will be asked to describe the type of business that you have gone by selecting from a dropdown list:
in this step you are also to answer some additional questions.
Questions are based on your business type, product or service keywords, monthly sales, website, and employer identification number.
Step4: In this step you have provided your customer service contact information..
Note: Costs charged to both the personal / standard / business account are identical.
They don’t charge the monthly fees .
And they use to charge only for the identical transaction fees.
Upgrade PayPal business account options
If you want to upgrade your paypal business account there you have two options.
This account is free, accepts all major credit card and debit card payments, accepts PayPal payments, and allows customers to pay over time if they choose. There is no monthly fee.
This account has a monthly fee of $30.
PayPal Payments Pro includes all the features of a standard account.
And it allows you to customize your customer’s checkout experience and to integrate with your established shopping cart.
Downgrade a PayPal business account
If you wish to transform your PayPal business account to a personal account, there you need to contact a PayPal customer service representative directly.
By manually only, you can change your PayPal business account to a paypal personal account.
Hope you get a basic ideas about the paypal business account.
And acquired the knowledge on how to open it , how to upgrade it and also how to downgrade it
And it is advisable to use a verified paypal business account in your business.
The verified paypal business account, have the tendency to uplift the sellers, selling limits and mostly the verified paypal account will not be subjected under the paypal suspension/restriction.
If you want to buy verified paypal account, then we here verifiedacc.
here we provide our customers only the high limits paypal accounts.
Where our PayPal account perceives the sellers to do high limits of transaction without the fear from suspension/restriction