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