Personal Paypal account VS Business Paypal for goldbrokers

So I'm wondering, I have been avoiding paypal for a long time and mainly dealing with dutch bank transfers and BTC, what is the difference between a business paypal account and a personal account? what benefits does it provide for a goldbroker, i know that paypal doesn't like the trading of virtual goods so im not sure if there would be any benefits, also as far as taxes or comission goes, what are my best options to use paypal safely and avoid commission?

Also, what are the rules on using a secondary paypal account, one to to receive on, then forward it to a main paypal, so if a chargeback occurs the main paypal wont lose the money that was chargebacked?

 

Couple of things:

1) A business Paypal is more professional since the customer will see your business name on the payment, instead of your own

2) Paypal doesn't "dislike" digital goods, they dislike people calling up and complaining that they lost a chargeback or a dispute. Realize that you are responsible for preventing fraudulent payments, and that they won't be able to reimburse you. They respect merchants who take a proactive stance on fighting fraud. How do you fight fraud? You'll need to figure that out.

3) You'll probably start by accepting payments as friends/family, to avoid fees. Once you receive enough money Paypal will realize what you're doing and limit your account (permanently sometimes). You'll complain and maybe they'll remove the limitation from your account and disable the friends/family option on your account. Or, you'll remain perm banned and will be in a pretty shitty situation.

I suggest just receiving payments as service/goods and paying the fees. They're not very high. This removes the risk you're taking of perm limitation and may also help you in some cases because you're not just abusing their system.

4) The idea of using a secondary account to filter money is hilarious. Paypal aren't going to let you off the hook just because you sent money to a secondary account. It's a good way to get yourself perm banned from Paypal, don't do it.

Long story short, Paypal is not a game. It's a payment processing system. If you try to get in there and get around paying fees, or using shady methods to avoid chargebacks, you'll get burned. If you're mature enough to be running a business collecting real money, then you're mature enough to follow the Paypal guidelines and ensure that you aren't locked out of their systems permanently.

 

Thanks! I've been looking forward to switching from friends/family to goods/services, just feel like I'm not big enough yet. Once I get a site going, I'll definitely make the switch. Plus, having a Paypal debit card is always nice ^_^

 

At about how much do you think would they realize that you've been excessively receiving goods from friends and family?

 

Thank you for responding to this thread in such an elaborate manner, its greatly appreciated!

You've cleared up all the questions I had.

/thread unless the conversation continues.

 

This honestly helped a lot, you should make a guide for gold sellers bud

 

How about you just don't do it? Breaking rules and all... I mean we do it with Runescape but that's a game. Please.

 

Agreed, all that's left to figure out is how to set up a payment system when there is irrefutable proof of delivery of the product. I'm curious how large companies like Boglagold fight chargebacks.

 

At what point should one switch over to a business PP from a personal one?

 

Getting proof of ID that matches name and address on the paypal account is a good start on obtaining evidence against charge backs.

 

Bump for awareness.

 

This comment really cleared a couple of things up for me as well, Thanks!

Would be even better if you could give examples of stopping fraud

 

Bump for awareness.

 

Paypal is one of the worst companys out there.

Don't kid yourself, anybody who tells u diff is a liar.

I still use paypal and have for 1 1/2 years, Their just overall a shitty company.

By the way- That's with me paying receiving and sending fees, a business paypal and a 1% dispute/chargeback rate.


If your selling gold that will exceed over $250 in sales a day get a business paypal.

if your selling under $250/day I'd go for personal until u get around the $20,000 mark then switch to a business paypal.


Overall though, be aware this company can, will, and enjoys fucking you over to your maximum potential, they will burn you,let you back in and burn you again regardless of ur business practices.

I can say that paypal is one of the worst companys/set of people I've had to deal with but I'm forced to still use them.

 

This is very helpful, thanks for the well written post

 

Good insight and thanks for the numbers, I personally haven't had much trouble with paypal then again I've only had around 7K flow through it total.

 

paypal has been hip to the friends /family money sending quite a long while ago, its in your interest to send and receive as services, you'll have less problems with paypal for sure.