Can you really use PayPal for business? Yes, and you can even get a business account without having a business. PayPal is a convenient way to accept payments online and offers automatic protection for sellers and buyers. As of November, however, the company increased its fees for business purchases across Europe. This makes it more difficult for individuals to use PayPal as a business, but it’s still possible. If you’re wondering whether or not you can get a business account, there are many guides online.
A PayPal business account is a great option for people who don’t have a real business. Unlike a personal account, a business account doesn’t require a minimum income or sales volume. However, PayPal Working Capital requires a business account that is at least 90 days old and has processed $15k in transactions. However, if you’re looking for a business account with no monthly fees, you can use PayPal Checkout, which is a payment processing service that you can get for free. If you don’t have a business, selling under your own name is a great option.
Having a PayPal business account is beneficial for many reasons. It can expand your customer base and provide greater marketing value. It also protects your personal assets. PayPal business accounts are eligible for two different kinds of loans. You can set up a limited liability company or opt to run a sole proprietorship account, which will protect your personal assets. The IRS and CRA will not know if you use PayPal as a business because you have an account with them.