Ecommerce Q & ACategory: PayPalCan I receive payment through PayPal in a personal account?
digitalsunilsah Staff asked 4 weeks ago
1 Answers
digitalsunilsah Staff answered 4 weeks ago

Yes. You can accept a payment from a friend that is charge-free up to a particular amount, a regular payment with Paypal fees (sender pays a small fee as of this writing), or you can send a customer an invoice so that you have a comprehensive record of the transaction in your personal account. If you are audited, you will not be able to show a friend payment as a business transaction because it contains no information other than the email address ( if you have a business.)
A personal account lacks the reporting and other functions of a commercial account. Use your personal account if you don’t need these. Your email address must be confirmed by Paypal, as noted by another poster, which is a straightforward process.
They may invite you to register a business account if you have a lot of transactions related to your firm. You can open a business as a sole owner.