PAYPAL ACCOUNT TYPES-an overview/need of choosing paypal account types

Need of choosing Paypal accounts
(https://www.paypal.com)

  Its important that you choose right account type inorder to save your fees and maximise your business earnings.Creating any account type in paypal is free.Basically there are three account types available worldwide for paypal.They are

1.Personal account
       Below are the features of this account

*This account is not available in many countries like India,UK,etc

*account is meant for receiving money from your family members and friends;not for business oriented applications(ie not suitable for receiving money for work done/online jobs;in that case you may face trouble and may loose all your money)

*High fees for receiving money through credit cards(about 8%).No fees for receiving from another paypal account of your family members

*e-bay is mostly not available

*API features(i.e integrating paypal to your website/blog) is limited

*You can maximum receive 500$ at a time(prior to changes)

2.Premiere account

*Meant for business as well as for personal use.

*Preffered account if you are new to paypal

*E-bay facility is available

*No maximum limit in many countries such as US,Uk,etc.But maximum limit of about 3000$ in countries like India

*You can use this account for receiving as well as for sending money.

*Has got a receiving fee of (0.33$+2.9% of received money).For eg) if somebody send you 10$,you will only receive amount deducted fees.

i.e 10-(.33+.29)=9.41$.

So you will receive (9.41)$ by sending 10$

*There is no sending fee.

*API features are available(i.e you can show paypal receiving button in your website)

3.Business account

*The difference between priemier and business is that you can open a multiple account type with paypal

*All other facilities are same as that of priemier

Paypal/paypal email id-An Introduction

  PAYPAL(www.paypal.com)

           Paypal is the most widely used money transfer agency used to receive and send money online anywhere from/to the world.In very simple terms paypal acts as an online bank.The most important thing is that you can transfer your paypal money to your local bank account according to the current currency-exchange rates by just some clicks(in some counties money is auto-withdrawn to your bank account ).It is being operated in about 190 countries and supports 25 currencies.

           Paypal was founded in the ends of 1998 and was acquired by eBay Inc(yes the same company of e-bay.com) in 2002.The service includes people to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing.  PayPal is an eBay (Nasdaq:EBAY) company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later.PayPal is headquartered in San Jose, Calif. and its international headquarters is located in Singapore.

         There are lots of advantages of paypal account.They are

• Free account :-
  It costs nothing to open a PayPal account, and there are no monthly charges or cancellation fees.
• Free protection :-                                                                                        Whenever you shop with PayPal, you may be protected under their Buyer Protection Policy. So in the unlikely event that your item doesn't arrive or is significantly not as described, you may be able to get your money back.

• Free to download the PayPal app :-                                                          Add PayPal to your iPhone, Blackberry or Android to check your balance or transactions, send money to or request it from friends and family, and donate to charity
• Free to withdraw money:-                                                                           You can make a standard withdrawal from your PayPal balance to your bank account for free.(In some countries like India,the money is auto-withdrawn to your local bank account automatically.i.e. you have to know nothing)
• Free to send money:-                                                                                You will not be charged anything for sending money to anyone.All what you want to know to send money is only their paypal email-id.  
•  Free to add money :-   (limited in some countries)
  Transfer money from your linked bank account to your PayPal balance at no cost. But remember, you don't need a PayPal balance to shop online using PayPal.
• Protect your credit card/financial information:-                                        Giving your financial information such as credit card no. ,bank account to a website/person that you don't know/untrusty may result in looting all your money.So paypal acts as an intermediate between you and your customer.Creditcard<====>Paypal<====>Customer 
• Low receiving fee  :-                                                                                   In most of the countries(0.33$+3%) of the received amount is deducted as fees.For eg) if somebody sended you 10$ then about(.33+.3)=0.63$ will be deducted and you will receive only about 9.37$.(this is extremely low as we compare to other money transfer agencies which charge more than 10% as fees).

visit ::www.paypal.com

Any doubts contact me