The Blog>How Much is a PayPal Business Account?

How Much is a PayPal Business Account?

Posted by Max Komonov

You’ve set growth objectives fǰyour small business, andyou’re looking fǰnew technologies toincorporate inits structure tocompete against other smaller businesses online ǰǴڴڱԱ—o even against larger enterprises (if you’re reaching fǰthestars). So, you decide toresearch payment technologies. And that’s when you see it: plethora ofpayment processing platforms that can benefit your business tochoose from.

Apayment processing platform isone solution that small businesses utilize toaccept customer credit cards anddebit cards payment fǰgoods andservices online. Understanding which payment processing platform isbest fǰyour business can bechallenging. But ifyou ask anytech professional fǰhelp, eight out often will recommend Paypal. Why? Because currently, around theworld, have active PayPal accounts. PayPal also accepts all major supported currencies from all over theworld.

Amazing right? However, asabusiness owner, now you might beasking yourself: “What isPaypal, andhow can itoffer payment solutions fǰmysmall business?” Read onfǰsome answers toyour burning questions.

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What isPayPal?

PayPal isone ofthemost well-known ecommerce payment processing platforms. Inshort: it’s anonline financial service that lets you pay fǰthings with asecure online account. You enter your bank account, credit card, ǰdebit card information, andyou pick which ofyour cards ǰstatements PayPal will use when you make anonline payment.

You may use thePayPal payments platform topay fǰthings andreceive andtransfer money. Any money you get isdeposited into your PayPal account andmay beused tomake purchases. The account will befunded from thedesignated cards ǰbank account attached totheaccount. However, when you receive money into your PayPal account, you may becharged atransaction fee.

Types ofPayPal Accounts

Toget started, you’ll need toset upaPayPal fǰyour business. Currently, there are just two types ofaccounts offered bythecompany: personal andbusiness accounts.

APersonal account

Anyone who uses PayPal tomake purchases ǰsend money topals will need apersonal PayPal account. PayPal offers users away totransfer money toabuddy, pay fǰonline shopping, receive payments, accept credit ǰwithdraw totheir bank accounts. You may also utilize ittomake credit card payments, get paid online, ǰuse PayPal tostore money.

ABusiness account

Intheearly 2000s, PayPal developed amerchant services division that allowed small andlarge businesses tobepaid faster andinamore straightforward way. This also helped many companies expand andscale uptheir business models.

Ifyou’re using PayPal fǰyour business, itmakes sense toset upaPayPal business account. Paypal enables you towork under your businesses’ name, accept card payments from customers, provide employees limited access toyour account, anduse PayPal’s business-oriented products.

APayPal Business Account isthebest bet fǰyour company, especially now that PayPal isone oftheworld’s largest online transaction service providers. This means that customers can count onyour business aslegitimate, andtheir transactions onyour site assafe.

Setting upaPayPal business account gives you access toseveral services that aren’t accessible with apersonal account. Although there isnoprice toopen aPayPal business account, many oftheaccount’s features come with fees.

How Much Does aPayPal Business Account Cost?

Ifyou use PayPal fǰbusiness, it’s essential tounderstand thePayPal business account .

Aswe’ve said, there are noset-up ǰmonthly fees associated with aregular PayPal business account. There are also nocancellation fees.

Businesses that are looking fǰanintuitive entry-level payment system with some flexibility andminimal fees should use aregular PayPal business account. However, you can also upgrade toaPayPal Payments Pro account ifyou want toprovide amore sophisticated, personalized, andintegrated shopping cart andcheckout experience fǰyour online customers. This type ofPayPal account will set you back $30amonth, plus transaction fees.

Transaction fees fǰPayPal business accounts are only charged when you offer items ǰservices andaccept payments online ǰinperson. With Paypal debit, your business pays thepayment service provider astandard transaction charge calculated asapercentage oftheentire transaction amount plus thecurrency’s fixed fee.

The fees associated with your PayPal business account will vary depending onthecountry you’re selling andreceiving payments.

Additional Features PayPal Business Accounts Offers

Aside from payment processing, aPayPal business account offers avariety ofadditional features. Some ofthese features require different application processes andfees.

PayPal offers working capital andbusiness loans

One ofthebiggest issues that agrowing company confronts isoften cash flow. The PSP makes itvery easy fǰbusinesses with aPayPal business account toget themoney they need tocontinue developing with PayPal Business Loans andWorking Capital.

Both alternatives offer qualified candidates with quick —sdzپ assoon asthenext business day after DZ—aԻ both have alower entry barrier than many traditional lenders, like banks, which need amountain ofpaperwork andcredit checks.

Checkout with PayPal isaservice provided byPayPal

Inessence, PayPal Checkout adds Smart Payment Buttons toyour e-commerce site, allowing customers tobuy your goods andservices with asingle click, skipping atime-consuming order procedure including long andconfusing forms. PayPal then gives you thecustomer contacts information and, ifnecessary, their delivery address.

The Advantages toHaving aPayPal Business Account

PayPal business account offers thefollowing advantages

There are nomonthly maintenance fees

One ofthebest features ofaPayPal business account isthat there are nomonthly maintenance fees associated with aregular business account. That means there’s nofee tojoin andbegin using all ofthemerchant services available.

Inaddition, there are noset-up ǰcancellation costs. You’ll only becharged once you start conducting business, which means you can focus your time andadditional income onthethings that count.

Depending onyour country, get paid online ǰin-person

Another significant benefit istheflexibility with which aPayPal business account may take payments. Customers may use major debit andcredit cards andPayPal andPayPal Credit (no PayPal account required). Furthermore, purchases can bemade online, inperson, ǰeven byinvoicing, which favors casual sellers.

With thePayPal business account debit card, you may get cashback

Are you tired ofall thedead-end debit cards that don’t encourage you tospend your hard-earned cash? Then you’ll love thePayPal Business Debit Mastercard, which comes free with aPayPal account (you have torequest it) andpays you 1%cashback onqualifying transactions.

Final Thoughts

Opening aPayPal business account ǰtransforming your Personal PayPal account toabusiness account iscost-free andseamless. So, what are you waiting for? Use your PayPal account totransform your business into acompetitive force intoday’s ecommerce space.

About The Author
Max has been working in the ecommerce industry for the last six years helping brands to establish and level-up content marketing and SEO. Despite that, he has experience with entrepreneurship. He is a fiction writer in his free time.

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