PayPal is considered one of the safest online payment methods in the world, being widely accepted in the world of e-commerce. It is a secure and easy way to make payments through digital means, without it being necessary to share any type of bank details.
When a person registers on the platform they have two types of accounts to choose from, so that they can choose the one that best suits each particular case.
The most basic is the Personal Account, which is designed for buyers, as it allows you to make payments for free and receive payments, although with some limitations. It includes 24-hour surveillance against fraud, as well as availability of customer service. It also limits the tools to use on eBay.
For its part, the Business Account is designed for companies and professionals, since it allows you to receive payments for the sale of products and services over the internet, including card payments and all with reduced rates. It allows you to perform all the actions in the Personal Account, but adding eBay tools, services for sellers and user administration.
Regarding the latter, it must be taken into account that it has no maintenance cost and that it allows payments in more than 25 currencies. When receiving a national payment, the platform charges a variable fee of between 1.9% and 3.4% (depending on sales) + a fixed fee of 0.35 euros when receiving it in euros. If it is an international payment, you must face an additional commission of 0.4% to 2% depending on the country of origin. In addition, between 3.5% and 4% are charged for currency exchange.
Advantages and disadvantages of PayPal Business
The PayPal business account is a very versatile product that has different associated advantages and disadvantages. Among the first we have to highlight that it is a well-known service that generates great trust, in addition to being free and allowing secure payment processing.
It also allows you to have an account with a company name to generate more trust among people, in addition to being able to have income and loss statistics, create financial statements in a simple and automatic way, or be able to count on different independent users to manage the account at all times. .
On the other hand, among its main disadvantages we find the fact that, as a general rule, if there are problems, PayPal almost always agrees with the customer, which can lead to business losses. This is, at the same time, an advantage for users of a Personal Account, who when purchasing with this payment method have the support of the platform in case they suffer any type of problem with their order.
Furthermore, commissions for sellers are usually high and there is a system that in this sense is somewhat complex and not very transparent. It must also be taken into account that the money may be held for several weeks until a customer confirms that he has received the item.
If, once you know its advantages and disadvantages, you want to create a Business Account, the process to follow is very simple, since to do so you only have to follow the steps indicated on its website. This requires having a registered company, having a bank account in the name of the company and having the purpose of selling products or services over the Internet.
