Should a company have its own Paypal account?

alexanderzx360 · Aug 9, 2017

Hello, I'm building a new company and I have a question regarding Paypal, since i'll probably have to hire and pay workers through it and I was wondering if the company itself should have its own Paypal account, or if I can do the payments directly from my personal account to theirs. What are the advantages and disadvantages of it?

Thanks!

radwebhosting · Aug 10, 2017

A business PayPal account is a wise idea for several reasons, some of which you alluded to, but also to gain access to a significantly larger toolset from which to interact with your clients. I think it is important in this day and age to utilize payment APIs, which are a standard feature within the PayPal business accounts. To my knowledge the personal accounts do not possess this capability.

StartVM · Aug 10, 2017

It is essential that you separate personal and business assets. Besides using a business PayPal, you should have a business checking account that these payments are made from. If you are the sole source of income for the business, then you need to deposit money into the business checking account (and make proper accounting records), and from there issue paychecks to your payroll accounts (employees) from the business checking. This will keep the paper trail clean and concise and save you a lot of headache.

yemzy · Aug 10, 2017

A PayPal account for your company is just ideal.It gives you that extra feel of global acceptance for business.When clients see PayPal listed among your payment gateways,They have confidence in terms of transacting with you because of the PayPal brand and reputation.

Should a company have its own Paypal account?

alexanderzx360

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