posted on October 3, 2000 10:28:23 AM
I've never even thought of it before, but are you able to maintain 2 accounts in PayPal, one for Personal and one for Business? Would you be able to tie them to the same bank account for electronic transfers?
I was thinking that if you did this, you could use your Personal account for low-amount/low-profit transactions. For high-profit items the buyer could be directed to pay into the Business account.
Seems a little complicated, but less intrusive than quizzing a buyer about whether they will be paying via credit card or out of their PP account.
posted on October 3, 2000 06:21:54 PM
Hi!
So how do you go about getting the two accounts. Would they have to have different e-mail adresses? How would it work? What would you tell your people on how to send their payments to each of the accounts? How to specifiy which one to go to? Sorry for all the questions... Also, one other thing I don't understand is, Do we only get charged if the person uses a CC#. Or do we get charged even if they use their balance or a bank account?
posted on October 3, 2000 06:58:52 PM
You'll need 2 email accounts - otherwise, how would PayPal know if you wanted the money sent to your personal or your business account? I don't know about needing 2 different bank accounts. We set it up that way to completely segregate our corporate and our personal transactions (and the IRS is highly suspicious of mixed funds for any business). We also had to do it that way because our personal names and corporate names don't "match" - remember that when an electronic transfer is done from PayPal to your bank account, the name on the account has to match the information PayPal gives your bank.
