What is a PayPal Personal Account?
A personal account allows its users to make a safe and secure online payment and accept payment as well but with relatively lower costs. It is best suited for individuals who do international website shopping. These accounts can even send and accept payments. The PayPal account allows the business entities to check the account to your PayPal account for easy transfers and payment options. There is usually no fee charged for the personal PayPal account.
Advantages of the PayPal personal account
The advantages of the PayPal personal account listed below:
The entire online payments procedure can be very tricky and such for most of the merchants. Its best feature is that it offers the customers to pay via the credit card option. The PayPal personal account users can send money with email and even utilize PayPal’s e-commerce features. Moreover, PayPal is a known name with credibility that is trusted by many. The company is also in due process to release the Smartphone credit card so that the readers can pay you via the credit card from any part of the world.
Easy Access to funds
Once you receive the payment through PayPal, you can get access to moving it rather easy. If PayPal is linked to your Bank account, you can easily withdraw the money from your bank account. If you have the free PayPal debit card, you can use the cards anywhere.
The Next Gen-Banking
PayPal is not a bank account but it fills the roles of one. It doesn’t adhere to the regulations and stringent rules of a financial institution. The Money kept in PayPal can be insured for transfers through FDIC. This lends it certain protection, only against the failure of the bank at which the PayPal places your funds. However, PayPal comes very close to banking solutions. It will evolve and continue to do so as the next generation of easy banking solutions.
PayPal Personal Vs Business
There are different types of accounts for different types of users. It is very common to get confused between the two. The two most common type of PayPal account is the business account and the personal account.
Both the PayPal and the business account offer similar secure online payments solution. This business PayPal account can be used by business owners, as they can use this account for transferring the money from the website to their account directly. While the personal account can be used by people who are regular users who simply want to purchase items or receive online payments directly to their account. The business PayPal account is ideal for business owners. Hence, both the account is designed with specific features relevant to the different type of users.
Hope you have understood Paypal personal vs business accounts. Thanks for reading!