DON'T Upgrade to PayPal Business! Watch this first

[@JustMe-xb4ey]

Wow! Thank you sooo much for making this incredibly helpful video brother. Thumbs up given! You answered all my questions!

[@TheHopelessGeek]

Glad to hear that 🙂

[@romulo560]

Great advice, I had no idea! I was just about to upgrade but I don't do that many transactions so I won't.

[@TheHopelessGeek]

Yeah, basic plan works absolutely fine for casual transactions a couple of times a month 👍🏼🙂

[@ibeti4203]

Only consider PayPal business if you have actual business needs (need a point of sale, need a way to seamlessly manage inventory between in store and online, buy now pay later options, salesforce integration, business loans, as well as customizable checkout & cart that is not paypal branded.) This should be considered by any small business looking to start taking payments in store or online, as paypal has competitive card processing rates. Do not consider PayPal Business if you take payments "occasionally" as this video talks about

[@TheHopelessGeek]

You're right. Personal plan is sufficient for solopreneurs taking payments a few times a month.

[@dreamyourniverse]

If you are content creator, and you have subscribers, does it mean I should stay personal account? My channel name is different from my legal name. I need your advice whether I should change it to Personal or Business?

[@TheHopelessGeek]

Your social account doesn't matter. You can run it using your legal name and personal account. If you do many transactions, a business account would be better.

[@dreamyourniverse]

@@TheHopelessGeek The transaction only my subcribers subcribe monthly, and giving donation tips. Is it safe from PayPal ban? or better I should change it into business?

[@TheHopelessGeek]

It should be safe. But if you want more visibility on transactions, you can switch to a business profile

[@MoonshotUJ]

Thankyou so so much for sharing this valuable info. I was literally trying to upgrade my Paypal account from personal to business, and while searching for something came across your video. This was really helpful. Thanks for taking out the time and sharing this.

[@TheHopelessGeek]

🙂👍🏽no problem. Bottom line is, for casual transactions once every other occasion, a personal account would suffice.

[@AlfredoSantist]

Thanks for the advice, i was just about to upgrade. Guess i'll just leave it as a personal account.

[@TheHopelessGeek]

Yes, for a few transactions a month, personal account should work just fine 🙂👍🏼

[@slr-d]

now this was helpful.. thank you. Ill stay with personal cause is just more simple. im personally over these companies being complicated now.

[@TheHopelessGeek]

Yeah, personal account is good enough for most uses 🙂👍🏼

[@34jetli]

Thanks for your video. It was helpful to explain the downsides.

[@TheHopelessGeek]

Happy to help 😊

[@JuiceBeatzCre]

This was good info, the 5 transactions up front can be a problem for some businesses, thanks for this vid

[@TheHopelessGeek]

Yeah, it'll be fine for an e-commerce store, but may be a bit much for an individual 🙂

[@Ghosty2004]

What does that mean? Could someone explain to me this thing about the 5 transactions ?

[@TheHopelessGeek]

It's the same as what I mentioned in the video. There is restriction that you need to make at least five transactions a month and the total value must exceed $200.

[@Ghosty2004]

@@TheHopelessGeek that’s really stupid then wtf.

[@marsooh302]

Thanks for letting us now, your video is helpful. Paypal is already a pain in the ahs with a personal account, can't imagine the frustration with a pro account

[@TheHopelessGeek]

😅and even after upgrading, it's not that much different. It's just to access essentials, like issue refunds.

[@therezaamador411]

Bahhh, this explains so much, thank you for taking the time to make this video. I still prefer Paypal to Venmo, but I'm seeing that personal is far better for my needs than the business account. I need to call and downgrade... first world problems...

[@TheHopelessGeek]

😅👍🏽glad I could help

[@sparrowfactz4584]

My account is on hold and saying it will come after 21 days and now they are asking for business license and other stuffs , this is very annoying, could you plz help me

[@TheHopelessGeek]

They sometimes randomly hold certain amounts for various reasons. There is an option to call them and ask to release the amount. I suggest you try that.

[@freelancerpotipako]

Same( If you managed to solve this, let me know how plz

[@Joinentrepreneursacademynow]

What if im starting to sell a 2k program should i get business

[@TheHopelessGeek]

Yes, business account would be better for that

[@lovebodygains]

what about if you do dropshipping is it okay do to with a businees or personal account which one better

[@TheHopelessGeek]

For e-commerce, a business account would be better to manage transactions

[@MelikaRassaf]

Thank you so much for the information! so helpful.

[@TheHopelessGeek]

Glad I could help

[@Abhi-d9s3o]

Wait, so does this apply for "New" personal accounts as well? Like I started freelancing and have opened a personal account. Would this restrictions be on my account as well? or would I be able to withdraw my money the next day?

[@TheHopelessGeek]

Yes, I think this applies for new accounts as well. You better ask their support for exact details

[@godricfrags4715]

I got a question, I will be receiving 60 USD every month from someone I know it's a personal transaction nothing related to business but I made a business account so that I can receive. He is from USA and I am in India, now after creating the account I had to enter alot of business related details I entered random details related to the business and accurate information related to me but now I had to do alot of verification including the video verification for the business so is there any tax that I have to give it mean I don't have a business but all of this includes kyc verification as per RBI guidelines as well I haven't completed the last step which is the vid verification so I just wanna know it's fine that I have a business account with having a business right? And can you tell me about the taxes as well?

[@TheHopelessGeek]

I think it should be fine. It's a fairly small amount.

[@Abhishek-d5c2j]

Business account makes more sense for an actual business with higher volume of transactions. If you're a freelancer or someone receiving money occasionally(ex. 3-4 time a month) you're all good with the personal account.

[@TheHopelessGeek]

Yes, that's correct

[@suzies6802]

I did not upgrade i just made a business account. Paypal lets you have two accounts one personal and one business. So there is no need to upgrade at all. Also my mom is a accountant and she says you should have a business account to keep your personal spending and business spending separate so it is easy for tax prep time and if you are audited by IRS. Also the fine print on the business account for the business card says you may not use funds from it to pay for non business items or services. I am sure it is same with the business account to.

[@TheHopelessGeek]

I see, thanks for sharing that suggestion 🙂

[@ZgothxaliveZ]

do you use wise personal or wise business? im kind of planning to do art commissions (freelance) and i already created wise personal account for a while, i wonder if it's okay to just use the personal one since im not a big artist/business

[@TheHopelessGeek]

You can use Wise, but I now use Payoneer. It has no transaction fees.

[@LIVINUSROY]

@@TheHopelessGeek I thought Payoneer has a lot of fees

[@TheHopelessGeek]

They do have some deduction, but comparatively less than PayPal. But they take much longer to process and credit money to your bank. PayPal does it in literally one day!

[@VivekPujara-zv8dd]

Thanks for info. Can I use my personal paypal account for receiving payments via my website? which is about online ads provider.

[@TheHopelessGeek]

It's better to go with a business profile for consistent payment receipts.

[@louzo5175]

im kind of tired(though ok w it) of most money just being put on hold for a mounth bc that personal acc is too busy w transfers, should i upgrade a paypal account to buisness or go with opening a seperate one as from on eof the options given? [i am ok w gathering 200 in 5 transfers n waiting for 2 mounths]

[@TheHopelessGeek]

I guess you can upgrade to a business account if you're getting many transactions.

[@Tikkibombom]

Hello! Thanks for the info! I just wanted to ask - when I try to open a personal account,it says that I can only use it for making payments and not receiving them. How are you receiving payments with your personal account?

[@TheHopelessGeek]

Yeah, I've only used my personal account to receive payments from my clients. I had done so since 2018 without any issues. Maybe they have changed their rules now.

[@Rionplaystuff]

Hello hello, I hope you're still active, I just have one question, Do I need to complete the kyc thingy? Because if I do, I'll be upgraded to business I think. Please let me know. Can I receive payments from the US using a personal account and without the KYC?

[@TheHopelessGeek]

I'm not completely sure, but I think KYC is mandatory for that. I suggest you call their support for this clarity

[@andrakechan4008]

How about the fees for receiving funds? personal vs business account? Like my personal account i receive 200 bucks and they take around like 9 or 10 bucks for the fees.

[@TheHopelessGeek]

It seems around the same on business too. There's literally little to no upsides 😅

[@andrakechan4008]

@@TheHopelessGeek oh i see, so im not upgrading my account to business since it's still the same. 😂

[@TheHopelessGeek]

Yeah, don't bother. It's not needed for the self employed and freelancers

[@ibeti4203]

@@TheHopelessGeek If you can still use PayPal personal for your self employed or freelance work, PayPal business isn't suited for you (and why you don't see the value.) You can't get any of the zettle point of sale products or any inventory management system with a personal account. Also, the 21 day hold is an industry standard to protect your customers and yourself, but may not be explained well enough to those who are starting their paypal business account. What you didn't mention is that PayPal business offers many products, such as zettle, braintree, advanced checkout, buy now pay later (and more) which is where the value in a business account becomes obvious

[@UCSSREEHARISHM]

Is it mandatory to have GST registration for a PayPal business account?

[@TheHopelessGeek]

No, I wasn't asked for any of that. Upgrading was quite seamless

[@KaranRaj711]

Hey.. In many videos they are saying that in personal account we can only send money but can not receive. It is true? If i create personal account then can i use it for sending and receiving money sometimes in months.? Or is there any criteria to fulfill?

[@TheHopelessGeek]

I have found the opposite to be the case. I have always received money from international accounts without issues. But in India, I could not send money to anyone.

[@kiran83847]

Bro after receiving your money automatically credited to your account?

[@TheHopelessGeek]

Yes, it's auto debited to my bank account the next day

[@ramankr0022]

@@TheHopelessGeek Thanks. I was looking for this option. Good to know that we can receive international payments into our Personal account.

[@jugjyotiborgohain3212]

So ,which platform are you using apart from paypal?? i am searching for a good alternative

[@TheHopelessGeek]

Well, I use Payoneer and PayPal both. Most people and platforms I work with still need PayPal, so I use the business account.

[@jugjyotiborgohain3212]

So something happened today...when I was doing the razorpay payment gateway setup I tried to link the paypal to it..then I got one mail from paypal saying they put my account for review plus I need to submit verification and all, and some of the features won't work like they put some limits arround it. When I open my PayPal personal app in my phone it shows the same popup of putting my account to review . But if I open the paypal business app it doesn't show me anything...I'm not sure what to do next,and already submitted all the required things.confusion is like after converting my account to a business account ,do I still have the personal account,if yes the limitations are for only my personal account or both.not sure , should I mail them ??do you know anything like this happened to anyone??

[@TheHopelessGeek]

Once you switch to the business account, the personal one gets replaced. You should ask their support for more information

[@wChadman]

Hye sir. I have a Business paypal account i do freelancing And now it sucks. I got weekly payments like 50$. i need that amount quickly but they are hokding it till 21 days. Now i want to switch it downgrade If i do so. Can i lost my holding amount too?

[@TheHopelessGeek]

You won't lose the amount, but the 21 day freeze will remain even after downgrading. I suggest you contact them and ask them to release the funds. They will usually do that. Just call them between 8 AM and 10 PM on their phone number available on the contact page.

[@wChadman]

@@TheHopelessGeek thanks sir. And also I have some other questions too. Can I ask you on IG or Telegram? Please sir I need to solve my queries about PayPal

[@TheHopelessGeek]

You can put your questions here. I'll respond as quickly as I can

[@dimplegupta4571]

With personal accounts we cant receive money only make payments?l saw couple of videos where they said in PayPal personal account we can only make payment and not receive money but you said we can do both (receive and send payment) using personal account I wanted to work as a transcriber for which I need a PayPal account...... Can you suggest which account should I opt for ??????

[@TheHopelessGeek]

I used to be able to do that with my personal account, but maybe they've checked the rules since then. I now use business anyway, so that may be good to get.

[@ayushi.sengar]

I am planning to sell digital products on etsy. My etsy shop is under review and they asked me to upgrade my account from personal to Business paypal. Should I upgrade or not? Can you guide me a little? Is personal paypal account ok for my etsy shop?

[@TheHopelessGeek]

For e-commerce, it's best to go with a business account as you are supposed to handle many transactions, returns, refunds, etc. Better upgrade

[@ayushi.sengar]

@@TheHopelessGeek thank you so much.

[@TheHopelessGeek]

No problem 👍🏼

[@iamgroot2810]

I opened a business account for my freelancing. I receive money occasionally when there is work. Will it be a problem if I use it for sending and receiving money from an international friend? And for purchasing international goods?

[@TheHopelessGeek]

It should be fine, but I recommend asking their support for exact details

[@Antillles]

This was useful, thanks. I have a few questions: Do you still use Paypal Business now? are the restriction gone or they come back if you receive less transactions sometimes? Also, can you buy things online just as you do with a personal account? The info online is so scarce or outdated sometimes.

[@TheHopelessGeek]

Yes, my restrictions have been lifted and I've started to receive payments auto withdrawn as usual. I don't notice any improvement or advantages with transaction speed, lower fees, or anything like that. I cannot pay for things online due to some restriction on some websites here in India, just like on a personal account. So this "business" account is equally useless. Again, for casual incoming payments a few times a month, the personal account would be absolutely the same 😅

[@Antillles]

@@TheHopelessGeek Thank you! So at least once the restrictions are gone it start working as a personal account again. A shame about not being able to buy however. I was thinking on using the business one because you are able too keep your real name anonymous for customers and just use a business name.

[@TheHopelessGeek]

Right, once the restrictions are gone, it'll work as normal. If that name anonymity is important, you can upgrade.

[@ryzenztoic]

​@@TheHopelessGeeksir how do I switch from buisness to personal ac

[@TheHopelessGeek]

It's a one time process that you'll have to ask the support team to do. Call them using their contact page and ask them to downgrade your business account. They'll explain the caveats you'll face, such as the same account cannot be upgraded again, you'll likely have those 60-days restrictions again, etc.

[@Erenyy]

Will I receive money to my personal PayPal account?

[@TheHopelessGeek]

Yes. I could, so you should be able to receive too.

[@mohammedkaif9244]

Does PayPal hold onto amounts on personal accounts as well? I’ve never used PayPal, currently unemployed as well. If I were to receive money from a friend overseas on the personal account, for how much time would the money be held and would I need to pay taxes on it? Amount would be less than 300 US dollars.

[@TheHopelessGeek]

If there are those restrictions I mentioned imposed on your account, then yes. That amount would be held for 21 days, unless you call them and get it released manually. There won't be any country-specific taxes deducted immediately, but PayPal will deduct a processing fee. If you receive a $100, after their fee deduction, $94.46 will be credited to your wallet.

[@SAMxIGRIS]

😮why didnt i get recommended to watch your video before i made business PayPal? Also i was told i cant accept receive money from abroad like from US to India(where i am) as a personal account.. why would they say that?

[@TheHopelessGeek]

Maybe they have changed the terms for the new personal accounts. It's good you chose the business one.

[@saswatpanda7994]

Hey, I am trying to create a personal account. However when trying to create, on the sign -up page it says with individual accounts, i can only send money but not receive. I am expected to receive payment weekly once or bi-weekly. Have another account which turned out to be a seller account and the amount is on hold

[@TheHopelessGeek]

I guess the rules have changed a bit. It's better to consult their support team for this information

[@Hippie_Heathen]

Very helpful. Thank you so much for making this video! 😊🙏🏾

[@TheHopelessGeek]

Happy to help🙂

[@Joker-xb4ql]

Do you have gst registration for the payment you receive via Paypal?

[@TheHopelessGeek]

No, it doesn't require a GST registration

[@TishA-ld5wd]

Thanks👍is personal paypal OK to use for business?

[@TheHopelessGeek]

If you get multiple daily transactions, business account is still better. If you're a freelancer/contractor getting paid once or twice a month, personal is fine

[@ramankr0022]

Thanks for sharing.Very essential information.

[@TheHopelessGeek]

You're welcome 😀

[@HarsimratSinghKaushal]

I want to start freelancing. Therefore, paypal personal is able to receive payments from upwork, fiverr etc ?

[@TheHopelessGeek]

You can still use personal. But a business account will give more features to manage invoices. An upgrade may be worth it,

[@HarsimratSinghKaushal]

@@TheHopelessGeek Thanks you so much sir for reply.

[@TheHopelessGeek]

No problem 🙂

[@satyankjadav4659]

Pls make video on PayPal GST invoice in detail. Will have to pay gst or not extra...

[@TheHopelessGeek]

I haven't had to pay any extra GST so far. Just income tax

[@satyankjadav4659]

@@TheHopelessGeek If my income from January 2024 to July 1, 2024 is Rs 2.5 lakh, will I have to pay income tax?

[@TheHopelessGeek]

Income is counted between April 1 of last year to March 31 of this year. That's when the financial year ends. So your income from January to March 31 would be considered in last year's income tax return. April 1 onwards will be for next year's filing. If your total income between April 1 2023 and March 31 2024 was over 2.5L, you might have some taxes. I suggest you consult a CA for more information.

[@satyankjadav4659]

@@TheHopelessGeek thanku so much for your valuable reply.

[@TheHopelessGeek]

Happy to help 🙂

[@fluxmedia2396]

will money that is allready on personal account be transferred to business account , or will there be some issue

[@TheHopelessGeek]

Yes, your wallet balance will be retained as it is, no worries there.

[@abhishekrajput8061]

Is the restriction still up? I just created a business account for my freelancing taking an advice from a friend, Do the restrictions still apply? As the video is an year old.

[@TheHopelessGeek]

Well, my restrictions cleared after 60 days, as expected. I have since been using PayPal business account without any issues as such. But it was an annoying 60 days for sure😅

[@abhishekrajput8061]

​@@TheHopelessGeek Sounds amazing! Should I downgrade now or perhaps receive the money in someone else's account from the client? I got only one client till now and god knows when will I be able to complete those criterias

[@TheHopelessGeek]

No need to downgrade if you have it already. Might as well wait out the limitations now

[@sharaneshs8744]

Bro does Paypal personal account allows us to recieve money from others in international currencies and allow them to send to our bank account?

[@TheHopelessGeek]

I think it no longer does. Better use business account for that

[@himanshugusain1]

Can we recieve payment in Individual/ Personal accounts? No need to convert it to business? Because if you sign up for a brand new account you'll be show two types, Individual and buisenss. With individual you can only send how ever on buisenss one you can send , receive and many more. Please help.

[@TheHopelessGeek]

I've been able to receive funds in my personal account just fine. But maybe they have changed the rules for new accounts. If you're creating a new one, it's better you go with a business account.

[@Ramzi4a]

Hello bro I opened a new e commerce store and also my paypal is new do you think i can use it to receive about 6-7 transactions a day?

[@TheHopelessGeek]

You can, but maybe it's worth it for you to get the business account. It'll have better dashboard metrics and easier options to track orders, refunds, etc.

[@sharonrejordan]

Very helpful. Thank you.

[@TheHopelessGeek]

Glad I could help 😃

[@saketchandlekar9228]

Hey its weird but it's showing me can't create invoices contact customer service. And I have alredy sent invoices to customers a week ago I got payment as well. But when I am creating now invoices it showing me the error can you please help 🙏

[@TheHopelessGeek]

Maybe you should ask their support about what's happening. You can contact them directly via phone on their contact page with a code on screen.

[@Beingrukhsar]

Yes.. i have a business account though i am a freelancer. Now my payments are at hold because of the 200 dollar criteria. Can i swutch it to personal account?

[@TheHopelessGeek]

Even if you switch to your personal account, those restrictions will not go. Might as well wait it out at this point

[@Beingrukhsar]

After 21 days will it automatically be released and what is the criteria for the additional amount that I will receive.. do each time the amount is held.

[@TheHopelessGeek]

I didn't wait till 21 days. I called them each time I got a payment and had it released manually. There's no assurance, but they usually do it if you ask.

[@Beingrukhsar]

Ok thank you.

[@TheHopelessGeek]

No problem 🙂

[@doortostudy3855]

Thank you so much for this vid. You saved a lot of wreck.

[@TheHopelessGeek]

Haha, happy to help :)

[@BillieLo]

T_T too lated to know this....Now I worried. what if I already sent my design artwork to client. during these 21 days, suddenly they cancel the payment?

[@TheHopelessGeek]

They'll have to raise a dispute. The amount once sent will be locked with PayPal.

[@BillieLo]

@@TheHopelessGeek i see ! Thanks for your answered ! 🫰

[@ramankr0022]

Thanks for the vid. Wanted to know if my international friend having PayPal Business account can send money as gift etc. to my PayPal Personal account? Would that be legal? As this transaction would fall under F&F category and in my opinion PayPal Business only supports G&S payments? And what if my international friend has PayPal Personal account too? Thanks for the help.

[@TheHopelessGeek]

If they have a business account, I think they should be able to send it to your personal one. It would probably be considered a gift transaction.

[@super_rishi]

Bro, you saved me a lot of trouble. Thank you so much.

[@TheHopelessGeek]

🙂👍🏽 happy to help

[@ronaldkobbo7347]

Thank you so much bro for this info

[@TheHopelessGeek]

Glad I could help 🙂

[@chillpill8639]

So the restrictions that I get during my account being a business account will still remain after I downgrade to personal account? Won't the restrictions go away??

[@TheHopelessGeek]

They'll take the same time to go away. Makes no sense to me 🤦🏽‍♂️

[@saimaxsheikh]

Hey I want to get my payment from Italy, so can I request it with just a personal account?

[@TheHopelessGeek]

They may have changed the rules since I created my account. It's better to go with a business account from now on for hassle free transactions

[@godricfrags4715]

Nothing related to 5 transaction or 200usd in mentioned in the website are you sure it's accurate?

[@TheHopelessGeek]

I'm literally describing what I went through. It may have changed now though. You can check with their support team to be sure.

[@godricfrags4715]

@@TheHopelessGeek as I mentioned I will receive 60usd so if it's still the same then I willl have to wait for 4months before i get it? please reply as soon as possible if this is the case I will use some other method and also thanks alot for this video genuinely saved me my 4months haha

[@TheHopelessGeek]

Well, if they impose that restriction, then yeah, the 60 day initial delay will be applicable. After that, it'll work normally.

[@drtanvitiwari]

there is a hike in the amount on credit card transactions from 23rd oct 2023 announced by paypal. How is it going to affect?

[@TheHopelessGeek]

Oh, I don't know much about that. I assume it would be the same, but maybe the business account would have slightly more transactions allowed with lower charges. That's my guess.

[@syedabdullah8371]

​@@TheHopelessGeekhey I am from India and requesting money to us client for that it says I need to upgrade what to do? Without it required isn't processing and says "Requester is restricted to perform this transaction"

[@TheHopelessGeek]

It's better to reach their support team for full clarity and advice

[@syedabdullah8371]

@@TheHopelessGeek they say Business Account is a must

[@TheHopelessGeek]

I guess you'll have to upgrade then.

[@arsenijekorac5710]

Thank you for this great video. I have one question. Unfortunately, I have created first business account and then I realized that I actually don't need it, so can I create a new personal PayPal account with different email address, but with the same personal data, such as phone number, etc.?

[@TheHopelessGeek]

I think your phone number can be only used with one account. You can ask the support team to downgrade to personal account if you wish, but you'll still have the new account restrictions. Now that you've already opened a business account, I suggest you continue using it.

[@arsenijekorac5710]

@@TheHopelessGeek Is it maybe possible to delete or close this account and then create a new one personal with the same email address?

[@TheHopelessGeek]

I guess you can't use the same email. You'll have to confirm that with their support team once.

[@arsenijekorac5710]

@@TheHopelessGeek Ok, but can I delete this existing business account with help of their support team and then create a new one with the same phone number but different email address?

[@TheHopelessGeek]

I'm not too sure about that. Maybe they can help you downgrade if you wish. But based on what I've heard from them, you can only downgrade once and the same account cannot be upgraded to business one again.

[@Danzzs]

will it be a personal account if I create a new paypal account with different mail and the same card?

[@TheHopelessGeek]

I think they ask you to choose at the time of setup.

[@mr.braham3905]

What did you switch to other than Paypal?

[@TheHopelessGeek]

I also use Payoneer when needed. But PayPal business is fine for now.

[@mr.braham3905]

@TheHopelessGeek do you know any remote work from from home jobs by chance? I lost my job recently.

[@TheHopelessGeek]

Oh, sorry to hear that friend. I would suggest looking for some part time gigs available on indeed or linkedin. They are often short-term remote roles, but can often translate into a full time thing if you wish. Or, they can supplement you with income while you work your way back.

[@mr.braham3905]

@@TheHopelessGeek ok

[@rajnishsharma2732]

I just switched to business account then saw this video. But I couldn’t find any such rule of 5 txns is it removed or something?

[@TheHopelessGeek]

Maybe. PayPal has many variations depending on the country or user

[@godricfrags4715]

I got a question, I will be receiving 60 USD every month from someone I know it's a personal transaction nothing related to business but I made a business account so that I can receive. He is from USA and I am in India, now after creating the account I had to enter alot of business related details I entered random details related to the business and accurate information related to me but now I had to do alot of verification including the video verification for the business so is there any tax that I have to give it mean I don't have a business but all of this includes kyc verification as per RBI guidelines as well I haven't completed the last step which is the vid verification so I just wanna know it's fine that I have a business account with having a business right? And can you tell me about the taxes as well?

[@TheHopelessGeek]

It should be fine for that amount

[@abhishekrajput8061]

Doesn't make sense to open a business account for such a small amount tho

[@godricfrags4715]

@@abhishekrajput8061 can we receive money in a personal account? Like it showed that we can't on their website so I went with the business acc can you check and let me know once?

[@aNICOOLAt]

Hey, do you know why sometimes I need to confirm the recip after 48h i sent money to someone?

[@TheHopelessGeek]

I'm not sure about that since I don't send money to people through PayPal much..

[@noelinegunawardena1258]

Can we change the business account to a personal account

[@TheHopelessGeek]

Yes, but only once per account.

[@Sona62766]

Sir hum agr only microwork and rapid work payment received krne k liye paypal use krnge toh hume konsa account open krna chaiye

[@TheHopelessGeek]

To receive payment, personal one worked fine. But nowadays maybe they have changed some policies. So better open a business one.

[@bite-sizedtruth]

What about using a Paypal seller profile?

[@TheHopelessGeek]

I'm not sure, is it different than a business profile? I'd imagine it's similar, where you get lots of options to manage transactions, update, refund, etc. It's good for e-commerce.

[@mxnnanedits]

ay bro cosmic byte just upgraded their classic firefly keyboard.. it now comes with "swappable" keys and better stabalizers.. please make a video for its mods and stuff and maybe try compatbibilty with akko switches (they are pretty affordable) cbgk-18 (swappable switches)

[@TheHopelessGeek]

Hmm, okay. I'll see what I can do

[@rubeenafs3478]

Bro, is upgrading to PayPal business account needs a video kyc verification?

[@TheHopelessGeek]

No, I didn't have to do anything like that.

[@nightowl9154]

So how would i get it in my bank? The money from overseas?

[@TheHopelessGeek]

PayPal automatically transfers the received money into your bank the next day.

[@nightowl9154]

@@TheHopelessGeek i haven't upgrade it to business and it says i have to confirm it and PayPal will send me money. After i get the money and fill it correctly. Will i able to recieve it in my bank account. Or i gotta do something more

[@TheHopelessGeek]

Once the bank account is confirmed, it will automatically withdraw each day's funds.

[@francisariga965]

And what if i close a business account and open a personal account will the limitations still be there?

[@TheHopelessGeek]

I don't know if they'll allow the same email, phone number, and bank to be linked to another account. Better ask the support team for advice.

[@Anime_Exorcist]

umm so right now when i sign up in paypal it say for individual account - u can send only payment and for Business Account - u can Receive and send payments(and i want to receive money for different country)..... but i already created an individual account few days ago.... so it's alright for me to upgrade into business account?

[@TheHopelessGeek]

Yeah, maybe their rules are different now. You can upgrade.

[@hibas-nn8wy]

When im doing some kind of freelancing or online jobs where i will receive money via paypal? Which one should i use

[@TheHopelessGeek]

I used to use personal account for that. It will suffice.

[@hibas-nn8wy]

@@TheHopelessGeek Its mentioned that we can only send money with personal. Can’t receive payments

[@TheHopelessGeek]

They must have changed the terms. I used to have no problems receiving money into mine. You can consult their support for better advice.

[@hibas-nn8wy]

@@TheHopelessGeek Thank you!

[@TheHopelessGeek]

No problem 🙂

[@Seven7_Noob]

What if i use small amount like 150-190 will they still do that or i have to contact the team

[@TheHopelessGeek]

I assume you're referring to the currency in USD. Yes, regardless of the amount, it'll be held for a minimum of 21 days under that 60 days restriction. You'll have to contact them each time if it needs to be expedited

[@Seven7_Noob]

@@TheHopelessGeek sir currency is pound sterling thanku for ur reply

[@TheHopelessGeek]

Ah, it should be the same case.

[@Seven7_Noob]

@@TheHopelessGeek thanks for the help

[@TheHopelessGeek]

No problem 🙂

[@pritykushwaha2745]

I also get occasional payment but after clicking withdrawal option ...i didn't recieved any email or message regarding payment through fiverr or PayPal..... please reply

[@TheHopelessGeek]

You can check your PayPal transaction history to see it's status. Usually, if you enable auto withdraw, it comes to your linked bank account within 2 days.

[@pritykushwaha2745]

@@TheHopelessGeek nothing is in PayPal account not even in my bank account...

[@TheHopelessGeek]

It may take a day or two for it to reach your bank if it has left PayPal. If it isn't in the transactions, maybe it hasn't come to PayPal yet

[@nonaturenofuture6021]

Can we still receive continue money from client as a freelance service?

[@TheHopelessGeek]

Yes, I was able to do so with a personal account, so it should be possible for you too.

[@allenhoward4221]

For patreon is personal fine?

[@TheHopelessGeek]

I think it should be okay. But you can confirm it once with their support

[@akhil4031]

hi just now signed up for business account because receiving money is not possible for personal account as said by another youtuber. can we still receive money from overseas with personal account? cant believe this !

[@TheHopelessGeek]

I used to be able to do so just fine. Their rules are so random. Everyone I ask seem to have a different experience 😅

[@WeirdNsGamingYT]

i just reached to my payout in adobe stock contributor so when i logged into Paypal it shows that to receive payments you need to upgrade to business account . So now i don't know the purpose code , so is it necessary to upgrade? i was about to upgrade i just saw your video . Let me know asap !

[@TheHopelessGeek]

Strange, I'm not sure about Adobe, but I get payments from people and companies around the world without issues 🤔. I guess you'll have to upgrade now 🤦🏽‍♂️

[@midhunkmanohar2636]

for dropshippig which one is better

[@TheHopelessGeek]

For e-commerce needs, a business account would be better

[@eliaspkay]

I upgraded to business account and didn’t see in my mail that I lacked evidence of owning a business which I didn’t have I made it a business account because I wanted to share a paypal link for my follower base to support me but now I’m permanently banned.. wtf how

[@TheHopelessGeek]

That's a strange reason. Try to contact their support and ask about this. Maybe it's another weird policy in their book of 7000 weird policies.

[@eliaspkay]

@@TheHopelessGeek I did contact them today and she said that I need to be registered as a company or entrepreneur to be able to use their service and now they suspected fraud or something because I wasn’t registered(that’s what I understood from what she said) They also sent me a mail on the 1st June but I didn’t check my mail until yesterday at evening where it was already too late that my account was permanently banned, I barely got 24 hours to respond and fix my problems… I’m just shocked man. She did help me send a message for me to fill in proof that I am registered as entrepreneur or company but that is unlikely to even go through she said.. f man it’s joever

[@nitinmalhan3593]

Which purpose code is to be selected for receiving money on PayPal as a freelancer

[@TheHopelessGeek]

Hm.. I never really gave a purpose code when raising invoices or receiving money 😅

[@YourStakeBuddy]

Hey bro i open a new paypal personal account when i receive money did they put in hold ? Because i have personal account not business?

[@TheHopelessGeek]

I think it's because it's a new account. You may initially have the same restrictions I mentioned here

[@YourStakeBuddy]

@TheHopelessGeek paypal really a stupid company personal and business account they have same policy burh

[@YourStakeBuddy]

@TheHopelessGeek I have one question bro they will put hold on new personnel account too ? I heard there only do this business

[@TheHopelessGeek]

Based on what I heard, they put those restrictions on every new account regardless of the type.

[@YourStakeBuddy]

​@TheHopelessGeek Big L to paypal bro an stripe doesn't support Indians to accept international payments 😢

[@VEDADDY_OFFICIAL]

if you close the account, and re make it with the same email, will the restrictions thing go away

[@TheHopelessGeek]

I think there is some limit that you can't use the same email again. It's better to check with their support regarding this

[@chalpuukips350]

Hello Sir, im from India and some friends from foreign country wants to help me with some amount, can i get a multiple payment which would be around 10-100 dollar each from 10-20 people in my individual account? Please help me sir 🙏🙏🙏

[@TheHopelessGeek]

Yes, I used to receive payments into my account just fine.

[@chalpuukips350]

Thank you sir 🙏

[@TheHopelessGeek]

You're welcome 🙂👍🏽

[@vitorsanto1479]

good afternoon. I would like to ask you something. I work as a digital artist and would like to receive some commission, but as I have a personal account all my data is visible, name, address, phone number. I wouldn't want to show it. I knew that to hide this I would need to create a business account, but I don't have a company, I'm a freelance artist, how could I solve this?

[@TheHopelessGeek]

You don't need to be a registered business to create a PayPal business account. I did that too, bring a self employed person like you.👍🏽

[@tx_hunter0784]

Bro facebook is hold payment 1 month old account??

[@TheHopelessGeek]

Is Facebook withholding it or PayPal? Either way, you can contact their respective support and ask for advice.

[@brahimbrahim-db5ec]

can i link paypal personal with my website (dropshoping)

[@TheHopelessGeek]

For dropshipping, I recommend a business account. It would be easier to handle shipping and returns details there.

[@brahimbrahim-db5ec]

@@TheHopelessGeek yes thank so much What about digital product!!

[@TheHopelessGeek]

For frequent online transactions, such as sales, business account will be better suited 🙂👍🏽

[@electroco1474]

So can you sell digital product with paypal with personal paypal account

[@TheHopelessGeek]

For e-commerce, the business account would be better. It has more order management features

[@yuvraj_912]

Bro i had personal account and someone sent me money while the money was enter transit. I shifted to business account. Now I don't know where the money is, it's been 40 days and I still not received. What do you think could be the issue?

[@TheHopelessGeek]

Maybe it was received but isn't reflected in the account? Try contacting their support during business hours. You'll see their number on the contact page.

[@yuvraj_912]

@@TheHopelessGeek Their support is trash. It doesn't show any record of the pending money that I'm ought to receive.

[@TheHopelessGeek]

Based on my two interactions, I found them alright, especially for inquiring such details. I would still suggest you raise this with them.

[@rafinha-1112]

Are these restriction still being enforced?

[@TheHopelessGeek]

Not sure, but yeah, probably. Mine are obviously cleared by now, but new accounts may have to deal with the same.

[@cctlinusfy7231]

@@TheHopelessGeekcan you link personal Paypal With shopify?

[@TheHopelessGeek]

I believe you could, but I haven't tested it. For e-commerce, a business account would be better

[@redpanther6826]

Is PayPal personal account enough to receive payment from freelance client.

[@TheHopelessGeek]

Yes, it's fine for one in a while payments, a few times a month

[@redpanther6826]

@@TheHopelessGeek consistently?

[@TheHopelessGeek]

You can still receive daily payments. But if you ever have to deal with refunds, it'll be difficult in a personal account. For that, a business account is better.

[@redpanther6826]

@@TheHopelessGeek thanks bro ❤️🔥this helped me a lot

[@TheHopelessGeek]

Happy to help 🙂

[@MotivationallClipss]

i upgraded my account to business than i downgraded to business is there any side effects or dwonside

[@TheHopelessGeek]

Based on what I heard from them last time, once you downgrade your account to personal, it cannot be upgraded back the business in the future. That's about the only issue, I guess.

[@MotivationallClipss]

@@TheHopelessGeek i closed the account and created new personal one to avoid any issues lol

[@TheHopelessGeek]

Haha, that's alright 😊

[@abgamez6568]

we cant receive money from overseas without making business acc now ?

[@TheHopelessGeek]

Yeah, seems like it now.

[@Himu2nd]

Can I receive one time payment only through personal account

[@TheHopelessGeek]

I think you can. I've only used mine to receive money, never to send.

[@Selfhelp-bs8iv]

but everyone say that you can't receive payment to individual account?

[@TheHopelessGeek]

I'm not sure why they say that. I've always been able to do so. Maybe the rules have changed for newer accounts

[@InsLove07]

What happens if we link the personal PayPal account with Business account with same email address?

[@TheHopelessGeek]

I think they don't allow multiple accounts with the same email. Better check with their support

[@fareedmorris8006]

Do you have anymore Ubuntu videos ?

[@TheHopelessGeek]

What video would you like to see on Ubuntu?

[@mertinanc]

Are you sure this is not regional? We dont have this in Germany.

[@TheHopelessGeek]

I see. It may be regional then.

[@mertinanc]

@@TheHopelessGeek I would also suggest to use WISE to accept payments from clients. If you want to offer credit card payments then also maybe STRIPE account could be useful.

[@TheHopelessGeek]

Yes, I use Wise for one of my clients now. So much faster and convenient

[@zenith0750]

Hey , i saw this video after creating a paypal business account, and my money is on hold. Will i recieve my hold amount after 21 days or do i need to do something? Also, is there any way i can increase my monthly limit, as i get paid every week, and if they keep holding the amount, it will take years to get my money. Also, where can i get the contact number to call them?

[@TheHopelessGeek]

The restrictions usually clear out permanently after the initial 60 days. You can find their number from the contact us page. www.paypal.com/us/cshelp/contact-us?hl=en-IN