Starting a Business using Paypal for payments

[rusty5]

 Hey,

I am starting a business which involves buying items and reselling them. I will use Paypal to receive payments from customers but just want to know if I should upgrade my personal account to a business account even though the business at the moment isn't bringing in loads of money and certainly not enough to pay tax on. Should I use my personal account until the money starts to come in regularly or upgrade now? Also do I have to have a business bank account to have a Paypal business account? 

Any information that I could be given would be much appreciated!

[PayPal_Martina · Accepted solution]

Hi there rusty5,

Thank you for you post and welcome to the community! 

In general, you do not need to have a big income to upgrade your Personal account to a Business account. At the same time, you do not need a bank account in the name of your business if you identify yourself as an Individual seller or a Sole Proprietorship. 

You can find more information on a Business account here.

Hope this helps!

Martina