PayPal: Business or Personal?

Chrisicut

Chrisicut

YTtalk Mad
Should YouTubers who receive income use a PayPal Business account, or a PayPal Personal account?

Does it matter if you use the wrong one? What are the consequences?

Also, do networks pay via PayPal?
 
Well i personally use a business account since i plan on starting an indiegogo campaign sometime in the near future.
 
I think it depends on the tax laws of the country you're in, eg. it's probably okay to use a personal account if you're going to be making under the tax boundary of your country, but I would recommend using a business account as it allows most room for growth in your channel.
 
It depends how much you're making off youtube.. Personal accounts are limited to like £15,000 transfers a year, so if you earn more, you will need a business account.
 
Andrew Flint said:
It depends how much you're making off youtube.. Personal accounts are limited to like £15,000 transfers a year, so if you earn more, you will need a business account.
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Than why wouldn't everyone use a business account? Does is inactivate some features accessed by a personal account?

Also, if you don't mind, from what source did you find this information?
 
You only need a "Premium" account, not business.
Premiums have no limits (I've received over 10s of 1000s on one)

There's no point going business unless :
- You need Mass Payments
- You have multiple employees that need access to the account at set budgets
- Actually need to sell using Paypal and therefore need to account for VAT on a business account.

Note the third one doesn't include spreadshirt or any shop were they do the selling and you just receive a commission
 
Cube said:
Than why wouldn't everyone use a business account? Does is inactivate some features accessed by a personal account?

Also, if you don't mind, from what source did you find this information?
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sorry, I actually got the information wrong. It's £1,900 receiving limit on a personal premiere account (source, my paypal limits page).

It doesn't inactivate anything, you just need to prove yourself or your business. Which means you have to spend longer in the lifting limits page.[DOUBLEPOST=1398290926][/DOUBLEPOST]
Shane.C said:
You only need a "Premium" account, not business.
Premiums have no limits (I've received over 10s of 1000s on one)

There's no point going business unless :
- You need Mass Payments
- You have multiple employees that need access to the account at set budgets
- Actually need to sell using Paypal and therefore need to account for VAT on a business account.

Note the third one doesn't include spreadshirt or any shop were they do the selling and you just receive a commission
Click to expand...
I've just been on my paypal limits page. I've got a premiere account and it's got a receiving payments limit.
You can also register yourself as an individual, a sole trader or a business.
 
Shane.C said:
My personal account is premier and it has no limits :p Did you connect a bank/ credit card and verify your identity?
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Yup, I've got everything verified all limits lifted, the only thing I haven't done it register myself for a business account because I don't want/need one. That's weird.. maybe it's because I'm only 18?

EDIT: Found the problem, it's because I've moved recently and hadn't updated my new address. I've got no sending/receiving limits now. I derped.
 
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