Paypal Business or Personal

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TheAlchemistress
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#1
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I don't know which one to pick, I wish to use Paypal for Depop transactions I just don't know which one?
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classic3296
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If your planning on using the PayPal account for personal stuff as well then go for personal but if you want to keep is strictly for business then go for business.

Personally I’ve sold on eBay for a long time using my personal PayPal account and never had a problem but it depends on how depop works (are payments made in the app like eBay?)

Fees are the same on both accounts at 3.4% (sale price) + 20p and its at that rate on the business account if you sell under £1500 a month. If you sell between £1500.01 and £6000 then it’s 2.9% + 20p

Ultimately the business account gives you a bunch of features you won’t really use (like being able to collect payments on your own website) but if you don’t need any of that go for the personal to keep it simple
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TheAlchemistress
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(Original post by classic3296)
If your planning on using the PayPal account for personal stuff as well then go for personal but if you want to keep is strictly for business then go for business.

Personally I’ve sold on eBay for a long time using my personal PayPal account and never had a problem but it depends on how depop works (are payments made in the app like eBay?)

Fees are the same on both accounts at 3.4% (sale price) + 20p and its at that rate on the business account if you sell under £1500 a month. If you sell between £1500.01 and £6000 then it’s 2.9% + 20p

Ultimately the business account gives you a bunch of features you won’t really use (like being able to collect payments on your own website) but if you don’t need any of that go for the personal to keep it simple
Payments are made on the app, just not sure if I should go for personal? Business also allows people without a Paypal to pay?
Last edited by TheAlchemistress; 2 years ago
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classic3296
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(Original post by Discrepancy)
Payments are made on the app, just not sure if I should go for personal? Business also allows people without a Paypal to pay?
Depop themselves allow you to use a credit/debit card if you don’t have a PayPal account but the payment will still go to your PayPal account. I have had that a few times on eBay. It’ll just show up as the buyers name instead of their PayPal username

I’d make a personal and use that but if you feel you need a business account you can always upgrade your personal to a business account through the website but you would need a business/company name to do so( not registered just something you can go by). You might have to deal with tax as well through a business account.

Also you can’t downgrade from a business to personal as easily which I learnt in the past and with a business account you can’t send money to friends without incurring fees

So based on what you’ve said, I’d recommend opening a personal as it’d do everything you need without extra hassle
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Elizabeth II
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Are you intending to sell large amounts of items on Depop? Are they your own items which you have made yourself originally? Or are they second-hand items you're selling to make a bit of cash? If you are using Depop with the intention to start a business, you need PayPal for business. If you're just selling second-hand items to make a bit of cash, it's obviously personal. Use a personal account for a business and they will penalise you and shut it down.
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TheAlchemistress
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(Original post by Paracosm)
Are you intending to sell large amounts of items on Depop? Are they your own items which you have made yourself originally? Or are they second-hand items you're selling to make a bit of cash? If you are using Depop with the intention to start a business, you need PayPal for business. If you're just selling second-hand items to make a bit of cash, it's obviously personal. Use a personal account for a business and they will penalise you and shut it down.
I have second hand items and do want to sell handmade items too. I think I would also be using it to make purchases not just selling items.
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