paypal question!

[csitenet]

I am a verified premier paypal user in UK, i want to know, if i change my account to a business account, can i still use the same bank account to transfer my funds to (my personal account!) or will it have to be a business bank account in the name of my business?

Thanks

 

[DNGeeks]

Speaking from personal experience.

Yes it can be a personal bank account. And run away from PayPal as soon as you can. They aren't a reliable source of income for anyone who is serious about running a business.

 

[csitenet]

which would you guys suggest,
Paypal
2Checkout
WorldPay
?????

 

[mike031]

paypal is the easiest and most realiable when it comes to online payments.. all the other merchants don't even come close... go for paypal -- they rock'

 

[csitenet]

But i agree, you can't run a business on paypal unless the start offering all worldwide members credit card processing Without having to sign up or go through verification process / huge signup forms!

I think they should make it more Simple!

 

[DNGeeks]

Read the PayPal agreement, they have the ability to close your account without notice for anything they feel doesn't follow their Terms Of Service.

I had an account with PayPal, which they summarily closed without notice and froze my funds for 180 days. Yet I also have email from them saying my business is fine and doesn't violate their TOS.

There is no way to appeal their decision either, get a real merchant account and you'll be happier. Merchant accounts have lower fees and you are paid directly.

The other systems that were mentioned are third party payment systems. Which means someone pays them, and then they pay you. In the case of PaySystems, who was a third party payment system, they were paid, and then closed down without paying their merchants.

I'm not saying it's going to happen or will happen, but it's your money and your business and your customers you need to protect. Investigate all of your options and choose what you think is best for you and your customers.

 

[Domagon]

DNGeeks is right on

Costs money upfront for a merchant account, but if you're doing around 1500 GBP or more in business per month, you'll save money in the longrun.

More reasons to avoid PayPal:
http://www.paypalsucks.com/

Ron