How to change PayPal account from business to personal? PayPal is an online payment system that makes online transactions easily accessible and safe. You can send or receive money from others and also pay for your online purchases with the reliable security of PayPal. It also provides banking solutions with both customers and businesses in mind. With these two account types in mind, you may question how to change PayPal account from business to personal? You will get an answer to this question with other questions, such as: how to downgrade PayPal account and upgrade PayPal account? Continue reading this article to solve your queries.
How to change PayPal account from business to personal?
PayPal is a secure and easy way to do business online. You can set up a PayPal account and access it from your computer or smart device for free. PayPal’s features include: safety and security, no monthly fees, easy setup, and the option to use the business account as a bank account.
PayPal is currently among the absolute most common online money transportation products and services. It indeed is available more than a half entire world for internet money transport. I will show you how to change PayPal from business to personal account. Now first understand, PayPal has three types of accounts –
- Business Account– This account suggests that e-commerce retailers who consciously sell online. A significant benefit with the sort of a consideration is the fact that 200 staff members permit in your account and also undoubtedly will answer customer queries.
- Personalized Account– This account is currently free. Such a consideration suggests for people who would like to search and also cover on the web or discuss expenditures online.
- Premier Account– This account closely targets casual online vendors.
A PayPal business consideration used to market online goods while PayPal own account used to invest money into the banking accounts. An organization account delivers far more feature quote to your account permit one to sell things online with a new.
Consequently, if you never require a small business account and would like to downgrade your own PayPal business account into your personal account. Change PayPal Business Account to Personal to this; you have to Speak to the PayPal Support using a telephone call, therefore, you can easily alter companies account to your account in PayPal.
What Is the Difference Between PayPal Personal and Business Account?
In this rapidly digitizing world, the services should be customized according to user preferences. And PayPal provides such options to its users by differentiating account types.
PayPal Personal Account:
- As the name suggests, PayPal Personal is for personal use and perfect when you want to send money to your family and friends or do some online shopping through digital stores and marketplaces.
- If a user is an individual professional, the account caters to his business needs as well. It lets you sell goods and services and are handy for artists and freelancers.
- There is no payment fee incurred on domestic transactions.
- It is a by default account given when you first sign up for PayPal services.
- The personal account does not support many payment options.
PayPal Business Account:
- PayPal Business has all the options and services provided by a personal account, in addition to features to incorporate small to medium-sized business owners.
- It allows your business website to be used as an e-commerce portal. Thus, making online purchases for your customers easier.
- It allows the sending and receiving of invoices and setting up subscription services. Using this account type, your clients will be able to sign up for recurring shipments in just one large transaction. It also lets you create invoices with the help of the PayPal interface.
- By creating a business account, you get access to a range of other business tools and benefits for your help.
- The business account charges you a tariff for even domestic transactions.
- It takes longer to set up and is difficult to downgrade.
How to change PayPal from a business to personal account
Unfortunately, changing your PayPal business account to a personal account isn’t as simple as it could be.
There isn’t a button that you can click within your profile settings to complete the process and instead you need to get in touch with PayPal via their contact section in order to get the ball rolling.
To complete this process, please follow these steps:
- Log on to your PayPal account via the app on your mobile phone.
- Select your account icon on the top left hand side of the screen.
- From the list of options, select ‘message centre’.
- On the top right hand side of the message centre, select ‘new’.
- From here, you will be able to notify PayPal that you wish to change your account from a business account to a personal one.
It is worth noting a couple of things in regard to this switch. First of all, if you already have a personal PayPal account then you won’t be able to downgrade your business account to a personal.
This is because as per the PayPal terms and conditions, you are only allowed to have one active personal PayPal account at any one time.
Secondly, if you do go ahead and change your business account to a personal one then the process irreversible. This means you will lose access to the invoices that you’ve acquired over the years via your business account.
So, before making the move from business to personal, make sure you have saved any information from the account that you may need in the future.
PayPal Business – The Benefits
Given that we are speaking a fair bit about PayPal business, it is worth looking at the reasons why millions of business owners around the world elect to bank with PayPal.
The main benefit of PayPal business is how easy it makes accepting a whole host of different payment methods. With PayPal business, you can accept payments for your goods in the following ways:
- Online payments via credit/debit cards.
- PayPal Credit.
- In person – you can accept payments with a PayPal card reader that links up with your mobile phone or tablet allowing PayPal business account holders to accept payment face-to-face.
- QR code – Use the PayPal app to create a unique QR code which you can give to customers to scan, making their payment experience as quick as humanly possible.
- By email – Using PayPal’s customisable invoicing tool, users can send payment requests via email.
Another key factor behind why business owners sign up to PayPal business is because of the protection you are given upon sign up.
You’ll be hard pressed to find a more secure payment transferring system than PayPal and through their business accounts you gain access to their fraud detection intel which is second to none.
Above is information about How to change PayPal account from business to personal? that we have compiled. Hopefully, through the above content, you have a more detailed understanding of PayPal account from business to personal. Thank you for reading our post.