Forum

IS there any benefit to upgrading to a Business Account?
 

IS there any benefit to upgrading to a Business Account?
What is the difference?
Thanks

Re: IS there any benefit to upgrading to a Business Account?
 

BUSINESSES are intended to make a profit and sell stuff and a lot of it. Other than that just Tax reasons such as EIN

Re: IS there any benefit to upgrading to a Business Account?
 

SO there is not reason to upgrade if you have a ssn on the account.

Re: IS there any benefit to upgrading to a Business Account?
 

Not really, unless Paypal will let you take off the SSN when you add an EIN (which I doubt). Then you could set up an LLC and have the business held liable for your e-commerce activity rather than yourself, in the event you're ever sued.

I think business accounts also have access to a more detailed reporting center, but I haven't checked lately.

Re: IS there any benefit to upgrading to a Business Account?
 

PP never takes anything off... they may use the EIN instead of the SSN, but it never goes away.

So, other than the comments above, there's no reason to change anything.

I've got PP accounts I've never changed from personal to business and they're from 2010.

Re: IS there any benefit to upgrading to a Business Account?
 

I upgrade accounts to business accounts when I can tell the amount of money going into pp account might reach the threshold to get flagged, which I have found to be an amount greater than $2000 in one month. When pp decides that you will likely make more than the $20,000 that year, your account becomes limited until you add the EIN. If I add the EIN ahead of time and change to a business account, the limitation is avoided and things keep running smoothly when the earnings reach in the thousands a month. Usually I will need to do this after about the first month or two.