DON'T Upgrade to PayPal Business! Watch this first
HTML-код
- Опубликовано: 23 мар 2023
- Here are a few things you should know before you ask how to upgrade from PayPal personal account to Paypal business account. I hope you found this information useful.
🎉Join our discord for Exclusive Giveaways! / discord
Consider supporting the channel by shopping for anything: amzn.to/3mheD2f
---------------------------------------------------------------------------
My Video Gear:
1. Camera: my phone :)
2. Wide-angle Lens: amzn.to/3chPEs4
3. Primary Tripod: amzn.to/3afrawU
4. Flexible Tripod: amzn.to/36jRjcG
5. Main Video Light: amzn.to/3HPeXzK
5a. Secondary light: amzn.to/3pxF6ZS
6. Background RGB Lights: amzn.to/3HRFTQT
7. Light holder: amzn.to/2KUI5w7
8. Microphone: amzn.to/3r4iLmZ
9. Mic holder arm: amzn.to/3ps8twy
9b. Secondary Mic holder: amzn.to/3j1ludZ
10. USB Ring Light: amzn.to/3r5e8cp
---------------------------------------------------------------------------
Thanks a lot for watching. Subscribe to see more content like this;
Cheers!
#paypal #paypalbusiness 
Наука
Wow! Thank you sooo much for making this incredibly helpful video brother. Thumbs up given! You answered all my questions!
Glad to hear that 🙂
Thankyou so so much for sharing this valuable info. I was literally trying to upgrade my Paypal account from personal to business, and while searching for something came across your video. This was really helpful. Thanks for taking out the time and sharing this.
🙂👍🏽no problem. Bottom line is, for casual transactions once every other occasion, a personal account would suffice.
Thank you so much for the information! so helpful.
Glad I could help
Thanks for your video. It was helpful to explain the downsides.
Happy to help 😊
Great advice, I had no idea! I was just about to upgrade but I don't do that many transactions so I won't.
Yeah, basic plan works absolutely fine for casual transactions a couple of times a month 👍🏼🙂
now this was helpful.. thank you. Ill stay with personal cause is just more simple.
im personally over these companies being complicated now.
Yeah, personal account is good enough for most uses 🙂👍🏼
Thank you so much bro for this info
Glad I could help 🙂
Very helpful video, thank you!
Glad to hear it👍🏽
Thanks for sharing.Very essential information.
You're welcome 😀
Very helpful. Thank you.
Glad I could help 😃
Thanks for the advice, i was just about to upgrade. Guess i'll just leave it as a personal account.
Yes, for a few transactions a month, personal account should work just fine 🙂👍🏼
Bro, you saved me a lot of trouble. Thank you so much.
🙂👍🏽 happy to help
This was so helpful!!
I'm glad it was 🙂👍🏽
Thank you so much for the info
🙂👍🏽 happy to help
This was good info, the 5 transactions up front can be a problem for some businesses, thanks for this vid
Yeah, it'll be fine for an e-commerce store, but may be a bit much for an individual 🙂
What does that mean? Could someone explain to me this thing about the 5 transactions ?
It's the same as what I mentioned in the video. There is restriction that you need to make at least five transactions a month and the total value must exceed $200.
@@TheHopelessGeek that’s really stupid then wtf.
Thank you for the info ℹ️
Any time!💯😇
thank you. it was helpful information
Glad to hear it 🙂
thanks for saving my time ❤
Happy to help 🙂
Thank You for This 👍
Happy to help
thank you so much for this video
Happy to help 😊
Thanks bro literally saved me
Glad to hear that 😊
thanks. u very helpful.
You're welcome 😀👍🏼
Only consider PayPal business if you have actual business needs (need a point of sale, need a way to seamlessly manage inventory between in store and online, buy now pay later options, salesforce integration, business loans, as well as customizable checkout & cart that is not paypal branded.) This should be considered by any small business looking to start taking payments in store or online, as paypal has competitive card processing rates. Do not consider PayPal Business if you take payments "occasionally" as this video talks about
You're right. Personal plan is sufficient for solopreneurs taking payments a few times a month.
If you are content creator, and you have subscribers, does it mean I should stay personal account? My channel name is different from my legal name. I need your advice whether I should change it to Personal or Business?
Your social account doesn't matter. You can run it using your legal name and personal account. If you do many transactions, a business account would be better.
@@TheHopelessGeek The transaction only my subcribers subcribe monthly, and giving donation tips. Is it safe from PayPal ban? or better I should change it into business?
It should be safe. But if you want more visibility on transactions, you can switch to a business profile
Hopeless Geek, you are a helpful geek to this another geek. Thankyou. I am going to use my personal paypal account for selling my music now.
🙂👍🏽 try it out. You can always switch to business if needed
thank you so much
🙂👍🏼no problem
Thank you!
Happy to help 🙂
Thank you bro
Happy to help 🙂 consider subscribing 👍🏼
thank you so muchh
You're welcome!
thank you!
😊👍🏼happy to help! Consider subscribing for more helpful content like this.
ay bro cosmic byte just upgraded their classic firefly keyboard.. it now comes with "swappable" keys and better stabalizers.. please make a video for its mods and stuff and maybe try compatbibilty with akko switches (they are pretty affordable) cbgk-18 (swappable switches)
Hmm, okay. I'll see what I can do
thanks man
🙂👍🏽 you're welcome
Thanks bro
🙂👍🏼happy to help
Ohh thankyou for getting me i just think to upgrade 😅 thankyou ❤
🙂👍🏾 happy to help
Hello! Thanks for the info! I just wanted to ask - when I try to open a personal account,it says that I can only use it for making payments and not receiving them. How are you receiving payments with your personal account?
Yeah, I've only used my personal account to receive payments from my clients. I had done so since 2018 without any issues. Maybe they have changed their rules now.
do you use wise personal or wise business? im kind of planning to do art commissions (freelance) and i already created wise personal account for a while, i wonder if it's okay to just use the personal one since im not a big artist/business
You can use Wise, but I now use Payoneer. It has no transaction fees.
@@TheHopelessGeek I thought Payoneer has a lot of fees
They do have some deduction, but comparatively less than PayPal. But they take much longer to process and credit money to your bank. PayPal does it in literally one day!
Thanks
🙂👍🏼you're welcome
My account is on hold and saying it will come after 21 days and now they are asking for business license and other stuffs , this is very annoying, could you plz help me
They sometimes randomly hold certain amounts for various reasons. There is an option to call them and ask to release the amount. I suggest you try that.
i just reached to my payout in adobe stock contributor so when i logged into Paypal it shows that to receive payments you need to upgrade to business account . So now i don't know the purpose code , so is it necessary to upgrade? i was about to upgrade i just saw your video . Let me know asap !
Strange, I'm not sure about Adobe, but I get payments from people and companies around the world without issues 🤔. I guess you'll have to upgrade now 🤦🏽♂️
I did not upgrade i just made a business account. Paypal lets you have two accounts one personal and one business. So there is no need to upgrade at all. Also my mom is a accountant and she says you should have a business account to keep your personal spending and business spending separate so it is easy for tax prep time and if you are audited by IRS. Also the fine print on the business account for the business card says you may not use funds from it to pay for non business items or services. I am sure it is same with the business account to.
I see, thanks for sharing that suggestion 🙂
This was useful, thanks. I have a few questions:
Do you still use Paypal Business now? are the restriction gone or they come back if you receive less transactions sometimes? Also, can you buy things online just as you do with a personal account?
The info online is so scarce or outdated sometimes.
Yes, my restrictions have been lifted and I've started to receive payments auto withdrawn as usual. I don't notice any improvement or advantages with transaction speed, lower fees, or anything like that.
I cannot pay for things online due to some restriction on some websites here in India, just like on a personal account. So this "business" account is equally useless.
Again, for casual incoming payments a few times a month, the personal account would be absolutely the same 😅
@@TheHopelessGeek Thank you! So at least once the restrictions are gone it start working as a personal account again. A shame about not being able to buy however.
I was thinking on using the business one because you are able too keep your real name anonymous for customers and just use a business name.
Right, once the restrictions are gone, it'll work as normal. If that name anonymity is important, you can upgrade.
@@TheHopelessGeeksir how do I switch from buisness to personal ac
It's a one time process that you'll have to ask the support team to do. Call them using their contact page and ask them to downgrade your business account. They'll explain the caveats you'll face, such as the same account cannot be upgraded again, you'll likely have those 60-days restrictions again, etc.
With personal accounts we cant receive money only make payments?l saw couple of videos where they said in PayPal personal account we can only make payment and not receive money but you said we can do both (receive and send payment) using personal account
I wanted to work as a transcriber for which I need a PayPal account...... Can you suggest which account should I opt for ??????
I used to be able to do that with my personal account, but maybe they've checked the rules since then. I now use business anyway, so that may be good to get.
Hey its weird but it's showing me can't create invoices contact customer service. And I have alredy sent invoices to customers a week ago I got payment as well. But when I am creating now invoices it showing me the error can you please help 🙏
Maybe you should ask their support about what's happening. You can contact them directly via phone on their contact page with a code on screen.
Thanks for info. Can I use my personal paypal account for receiving payments via my website? which is about online ads provider.
It's better to go with a business profile for consistent payment receipts.
im kind of tired(though ok w it) of most money just being put on hold for a mounth bc that personal acc is too busy w transfers,
should i upgrade a paypal account to buisness or go with opening a seperate one as from on eof the options given?
[i am ok w gathering 200 in 5 transfers n waiting for 2 mounths]
I guess you can upgrade to a business account if you're getting many transactions.
wow, really??? Why didn't they state this up front. Thank goodness i took the extra minutes to dig around. Thank you, youtube and thank you G.
Yeah, they should be a lot more clear with their weird policies 😅
Thank you. That three weeks of holding my funds would be extremely annoying. When you told me that, I backed away from signing up for a business account. Cheers!
🙂👍🏼 personal account is just fine for basic users with a couple of transactions per month
i was thinking of opening account in paypal👍🏻
It's still a decent platform but make sure you know their "rules"😅
@@TheHopelessGeek I think it's an only option
Yeah, for now..
Can we recieve payment in Individual/ Personal accounts? No need to convert it to business? Because if you sign up for a brand new account you'll be show two types, Individual and buisenss. With individual you can only send how ever on buisenss one you can send , receive and many more. Please help.
I've been able to receive funds in my personal account just fine. But maybe they have changed the rules for new accounts. If you're creating a new one, it's better you go with a business account.
Not new. Years back also paypal is like this. Any thanks for saying you have received international payment in personal account. Bcz i am using personal @@TheHopelessGeek
Hey, do you know why sometimes I need to confirm the recip after 48h i sent money to someone?
I'm not sure about that since I don't send money to people through PayPal much..
Is it mandatory to have GST registration for a PayPal business account?
No, I wasn't asked for any of that. Upgrading was quite seamless
So the restrictions that I get during my account being a business account will still remain after I downgrade to personal account? Won't the restrictions go away??
They'll take the same time to go away. Makes no sense to me 🤦🏽♂️
Hello bro
I opened a new e commerce store and also my paypal is new do you think i can use it to receive about 6-7 transactions a day?
You can, but maybe it's worth it for you to get the business account. It'll have better dashboard metrics and easier options to track orders, refunds, etc.
will money that is allready on personal account be transferred to business account , or will there be some issue
Yes, your wallet balance will be retained as it is, no worries there.
Super 👍
🙂👍🏼
will it be a personal account if I create a new paypal account with different mail and the same card?
I think they ask you to choose at the time of setup.
T_T too lated to know this....Now I worried. what if I already sent my design artwork to client. during these 21 days, suddenly they cancel the payment?
They'll have to raise a dispute. The amount once sent will be locked with PayPal.
@@TheHopelessGeek i see ! Thanks for your answered ! 🫰
Thanks for the vid. Wanted to know if my international friend having PayPal Business account can send money as gift etc. to my PayPal Personal account? Would that be legal? As this transaction would fall under F&F category and in my opinion PayPal Business only supports G&S payments? And what if my international friend has PayPal Personal account too? Thanks for the help.
If they have a business account, I think they should be able to send it to your personal one. It would probably be considered a gift transaction.
And what if i close a business account and open a personal account will the limitations still be there?
I don't know if they'll allow the same email, phone number, and bank to be linked to another account. Better ask the support team for advice.
Please anyone tell me how much amount of payment we xan take instant on PayPal personal account
I don't know if there's a universal upper limit. It may depend heavily on region and purpose of transaction as well. I suggest you ask their support directly.
Thanks👍is personal paypal OK to use for business?
If you get multiple daily transactions, business account is still better. If you're a freelancer/contractor getting paid once or twice a month, personal is fine
Thanks, i just wanted to upgrade it but i won't do that
Yeah, the personal account is good enough for solopreneurs
Can we still receive continue money from client as a freelance service?
Yes, I was able to do so with a personal account, so it should be possible for you too.
Which purpose code is to be selected for receiving money on PayPal as a freelancer
Hm.. I never really gave a purpose code when raising invoices or receiving money 😅
Hye sir.
I have a Business paypal account i do freelancing
And now it sucks.
I got weekly payments like 50$. i need that amount quickly but they are hokding it till 21 days.
Now i want to switch it downgrade
If i do so. Can i lost my holding amount too?
You won't lose the amount, but the 21 day freeze will remain even after downgrading. I suggest you contact them and ask them to release the funds. They will usually do that.
Just call them between 8 AM and 10 PM on their phone number available on the contact page.
@@TheHopelessGeek thanks sir. And also I have some other questions too. Can I ask you on IG or Telegram?
Please sir I need to solve my queries about PayPal
You can put your questions here. I'll respond as quickly as I can
good afternoon. I would like to ask you something.
I work as a digital artist and would like to receive some commission, but as I have a personal account all my data is visible, name, address, phone number. I wouldn't want to show it.
I knew that to hide this I would need to create a business account, but I don't have a company, I'm a freelance artist, how could I solve this?
You don't need to be a registered business to create a PayPal business account. I did that too, bring a self employed person like you.👍🏽
Hey.. In many videos they are saying that in personal account we can only send money but can not receive. It is true? If i create personal account then can i use it for sending and receiving money sometimes in months.? Or is there any criteria to fulfill?
I have found the opposite to be the case. I have always received money from international accounts without issues. But in India, I could not send money to anyone.
Bro after receiving your money automatically credited to your account?
Yes, it's auto debited to my bank account the next day
@@TheHopelessGeek Thanks. I was looking for this option. Good to know that we can receive international payments into our Personal account.
hi just now signed up for business account because receiving money is not possible for personal account as said by another youtuber. can we still receive money from overseas with personal account? cant believe this !
I used to be able to do so just fine. Their rules are so random. Everyone I ask seem to have a different experience 😅
I want to start freelancing. Therefore, paypal personal is able to receive payments from upwork, fiverr etc ?
You can still use personal. But a business account will give more features to manage invoices. An upgrade may be worth it,
@@TheHopelessGeek Thanks you so much sir for reply.
No problem 🙂
Hey I want to get my payment from Italy, so can I request it with just a personal account?
They may have changed the rules since I created my account. It's better to go with a business account from now on for hassle free transactions
How about the fees for receiving funds? personal vs business account? Like my personal account i receive 200 bucks and they take around like 9 or 10 bucks for the fees.
It seems around the same on business too. There's literally little to no upsides 😅
@@TheHopelessGeek oh i see, so im not upgrading my account to business since it's still the same. 😂
Yeah, don't bother. It's not needed for the self employed and freelancers
@@TheHopelessGeek If you can still use PayPal personal for your self employed or freelance work, PayPal business isn't suited for you (and why you don't see the value.) You can't get any of the zettle point of sale products or any inventory management system with a personal account. Also, the 21 day hold is an industry standard to protect your customers and yourself, but may not be explained well enough to those who are starting their paypal business account. What you didn't mention is that PayPal business offers many products, such as zettle, braintree, advanced checkout, buy now pay later (and more) which is where the value in a business account becomes obvious
Is it possible to recieve international payment in paypal individual account 🤔? Bcz i have a pending payment⚠️And which account is used for freelancing job?
Based on what many others have said, maybe they have changed their policy for personal account users. For freelancing work, you better switch to business account
tnx
🙂👍🏼 you're welcome
Hey, when we open paypal they give two options 1. personal account (only for shopping worldwide) 2. business account (both for recieving and paying money)
Can we not receive money as a freelancer from personal account ?
I used to do it just fine with a personal account. Maybe they changed the rules for newer ones. Better go for a business account to receive your payments
Thanks brother to aware regards this am also were going to do that .now i will not ..thanku
Happy to help 😊
Thank you for this great video. I have one question. Unfortunately, I have created first business account and then I realized that I actually don't need it, so can I create a new personal PayPal account with different email address, but with the same personal data, such as phone number, etc.?
I think your phone number can be only used with one account. You can ask the support team to downgrade to personal account if you wish, but you'll still have the new account restrictions. Now that you've already opened a business account, I suggest you continue using it.
@@TheHopelessGeek Is it maybe possible to delete or close this account and then create a new one personal with the same email address?
I guess you can't use the same email. You'll have to confirm that with their support team once.
@@TheHopelessGeek Ok, but can I delete this existing business account with help of their support team and then create a new one with the same phone number but different email address?
I'm not too sure about that. Maybe they can help you downgrade if you wish. But based on what I've heard from them, you can only downgrade once and the same account cannot be upgraded to business one again.
Sir my money hold is more than $200 what should i do now please help sir I don't have any invoice and GST number etc.
You can just call them during their business hours, which I believe is 10 AM to 6 PM on weekdays. Ask them to release that amount from hold. They usually do that immediately, and the money will then be auto withdrawn to your bank as usual the next day. 👍🏼
I am planning to sell digital products on etsy. My etsy shop is under review and they asked me to upgrade my account from personal to Business paypal. Should I upgrade or not? Can you guide me a little?
Is personal paypal account ok for my etsy shop?
For e-commerce, it's best to go with a business account as you are supposed to handle many transactions, returns, refunds, etc. Better upgrade
@@TheHopelessGeek thank you so much.
No problem 👍🏼
Sir hum agr only microwork and rapid work payment received krne k liye paypal use krnge toh hume konsa account open krna chaiye
To receive payment, personal one worked fine. But nowadays maybe they have changed some policies. So better open a business one.
I upgraded to business account and didn’t see in my mail that I lacked evidence of owning a business which I didn’t have I made it a business account because I wanted to share a paypal link for my follower base to support me but now I’m permanently banned.. wtf how
That's a strange reason. Try to contact their support and ask about this. Maybe it's another weird policy in their book of 7000 weird policies.
@@TheHopelessGeek I did contact them today and she said that I need to be registered as a company or entrepreneur to be able to use their service and now they suspected fraud or something because I wasn’t registered(that’s what I understood from what she said) They also sent me a mail on the 1st June but I didn’t check my mail until yesterday at evening where it was already too late that my account was permanently banned, I barely got 24 hours to respond and fix my problems… I’m just shocked man. She did help me send a message for me to fill in proof that I am registered as entrepreneur or company but that is unlikely to even go through she said.. f man it’s joever
for dropshippig which one is better
For e-commerce needs, a business account would be better
So you mean if I have a personal account then I can receive money without any glitches?
I used to receive without any issues. But the rules may have changed now. You could ask their support for up-to-date advice.
I also get occasional payment but after clicking withdrawal option ...i didn't recieved any email or message regarding payment through fiverr or PayPal..... please reply
You can check your PayPal transaction history to see it's status. Usually, if you enable auto withdraw, it comes to your linked bank account within 2 days.
@@TheHopelessGeek nothing is in PayPal account not even in my bank account...
It may take a day or two for it to reach your bank if it has left PayPal. If it isn't in the transactions, maybe it hasn't come to PayPal yet
but everyone say that you can't receive payment to individual account?
I'm not sure why they say that. I've always been able to do so. Maybe the rules have changed for newer accounts
But i got to hear that you can not receive international payments on paypal personal accounts
Maybe they've changed the rules for newer accounts. It's best to check with their support team for details
Can I receive one time payment only through personal account
I think you can. I've only used mine to receive money, never to send.
How can I receive payment using PayPal Personal?
Send your PayPal email to the person paying. They should be able to send you the funds.
@@TheHopelessGeek Thanks but how can i withdraw money from Fiverr using PayPal personal?
😮why didnt i get recommended to watch your video before i made business PayPal? Also i was told i cant accept receive money from abroad like from US to India(where i am) as a personal account.. why would they say that?
Maybe they have changed the terms for the new personal accounts. It's good you chose the business one.
Bro i had personal account and someone sent me money while the money was enter transit. I shifted to business account. Now I don't know where the money is, it's been 40 days and I still not received. What do you think could be the issue?
Maybe it was received but isn't reflected in the account? Try contacting their support during business hours. You'll see their number on the contact page.
@@TheHopelessGeek Their support is trash. It doesn't show any record of the pending money that I'm ought to receive.
Based on my two interactions, I found them alright, especially for inquiring such details. I would still suggest you raise this with them.
Hey if I want to receive money so can I make my personal account?
If you're making a new one, I suggest you go for a business account. The restrictions will be similar anyway.
Yes.. i have a business account though i am a freelancer. Now my payments are at hold because of the 200 dollar criteria. Can i swutch it to personal account?
Even if you switch to your personal account, those restrictions will not go. Might as well wait it out at this point
After 21 days will it automatically be released and what is the criteria for the additional amount that I will receive.. do each time the amount is held.
I didn't wait till 21 days. I called them each time I got a payment and had it released manually. There's no assurance, but they usually do it if you ask.
Ok thank you.
No problem 🙂
Do you have anymore Ubuntu videos ?
What video would you like to see on Ubuntu?
So how would i get it in my bank? The money from overseas?
PayPal automatically transfers the received money into your bank the next day.
@@TheHopelessGeek i haven't upgrade it to business and it says i have to confirm it and PayPal will send me money. After i get the money and fill it correctly. Will i able to recieve it in my bank account. Or i gotta do something more
Once the bank account is confirmed, it will automatically withdraw each day's funds.
Pls make video on PayPal GST invoice in detail. Will have to pay gst or not extra...
I haven't had to pay any extra GST so far. Just income tax
@@TheHopelessGeek If my income from January 2024 to July 1, 2024 is Rs 2.5 lakh, will I have to pay income tax?
Income is counted between April 1 of last year to March 31 of this year. That's when the financial year ends.
So your income from January to March 31 would be considered in last year's income tax return. April 1 onwards will be for next year's filing.
If your total income between April 1 2023 and March 31 2024 was over 2.5L, you might have some taxes. I suggest you consult a CA for more information.
@@TheHopelessGeek thanku so much for your valuable reply.
Happy to help 🙂
What about using a Paypal seller profile?
I'm not sure, is it different than a business profile? I'd imagine it's similar, where you get lots of options to manage transactions, update, refund, etc. It's good for e-commerce.
Will I receive money to my personal PayPal account?
Yes. I could, so you should be able to receive too.
They restrict you when paypal doesn't get tracking information from customers through your website so that customers don't get scammed
They told those restrictions happen to every new account. I am now past those and no longer get any unnecessary holds for similar transfers.
You said you've already switched to other sources to receive money, what paypal alternatives would you recommend? :0
Payoneer and Wise are pretty good too.
@@TheHopelessGeek Payoneer is Damn good , i use it for my Freelancing 🙌
Now a days they are holding/seizing the money for a long time even for personal account?
I heard somewhere now paypal is making scam.
Please share your views. Thanks ablot
Really?😦 I haven't had any such experience. Yes, they hold the money sometimes, but they always release it.
there is a hike in the amount on credit card transactions from 23rd oct 2023 announced by paypal. How is it going to affect?
Oh, I don't know much about that. I assume it would be the same, but maybe the business account would have slightly more transactions allowed with lower charges. That's my guess.
@@TheHopelessGeekhey I am from India and requesting money to us client for that it says I need to upgrade what to do? Without it required isn't processing and says "Requester is restricted to perform this transaction"
It's better to reach their support team for full clarity and advice
@@TheHopelessGeek they say Business Account is a must
I guess you'll have to upgrade then.
My account is personal then why it is showing me 21 day hold
Maybe it's a new account with very few transactions? Have you done transactions before? They impose those restrictions on newer and less active accounts
@@TheHopelessGeek yes it's a new account....also It is my first transaction.... I'm just worried about if I'm gonna loss my balance 🫠