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Freelance and Paypal Receiving money (Business or Personal?)

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Contributor

Freelance and Paypal Receiving money (Business or Personal?)

Hello. I haven’t worked with Paypal for a long time, but now I need it again. Please help me understand this situation: I am moving from my country to Spain, I’ll make a paypal account there, I have an spain bank account and I already have a card, I’ll bind it to my account. I am engaged in freelancing and I receive small amounts for payment for my work, the question arises: after confirming my bank account, what are my limits for receiving funds per day, month, and withdrawal limits? If, for example, there are transactions every day for 2-5 transactions each with a maximum of $ 100-400, will they not consider this a violation and how best to accept such payments in order to avoid awkward moments?
Thank.

9 REPLIES 9
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Moderator

Re: Freelance and Paypal Receiving money (Business or Personal?)

Hi @Lydmila

 

Thanks for reaching out to the community! 

 

If you have a receipt limit on your account, you can see it by logging into your account and clicking on the link to see the limits of the account in "Overview." This will show you the individual limits for your account and how to lift the limit. 

 

Thanks, 

Drew

 

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Contributor

Re: Freelance and Paypal Receiving money (Business or Personal?)

Thank You for an answer. have couple more questions:

My name and surname must match the address of registration or with a bank account or both? Because the bank account is still in the process of opening and I wanted to make an account for now, but suddenly they will write in the bank the name and surname with another letter or something else.
Also, if everything is in order with my limit and account is verifying, then I will be able to carry out those transactions and the amounts about which I wrote without problems? In case of any questions from Paypal, can I confirm my activity with invoices with a detailed description from the sender about the service?

Thank You

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Moderator

Re: Freelance and Paypal Receiving money (Business or Personal?)

Hi @Lydmila

 

In a lot of countries, banks won't confirm account names when linking your PayPal account. You should be able to add the bank account without an issue on the name. 

 

Yes, if your limits have been lifted and the account is verified, you are good to receive your payments. 

 

Regards, 

 

Drew

Contributor

Re: Freelance and Paypal Receiving money (Business or Personal?)

Thank you for the answer. Sorry to bother You, but there are a few more questions. If You have time, can You please answer:
1) As I read, there is a third type of account besides personal and business - premier, tell me please how it differs from personal, what advantages and what documents are needed to make it?
2) Tell me please what are the limits for new, only created accounts, but under the condition that the new account will be verified immediately and linked to a bank account. I heard that on new accounts the first payments are put on hold for a while, is it true and are there any other limits for new accounts?
3) I read all user agreements in full, as well as legal issues, but got a little confused in the commission tables, please tell me what the commission will be that will be charged from ME if I sent invoice for payment to Ukraine member and he pay this invoice. That is, I am in Spain, and the person who receives the invoice in Ukraine, respectively, how much will I pay when receiving funds, what percentage, and how much will he pay when sending? What percentage of the commission when receiving an international transfer to a Spanish account of PP through invoice?

Thank You again

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Moderator

Re: Freelance and Paypal Receiving money (Business or Personal?)

Hi @Lydmila,

 

Thank you for your additional questions. You mentioned that you are moving to Spain. If your new account is registered in Spain, the following answers would apply to your account:

 

Premier accounts are not available in all countries. They were discontinued in many places. If you are reading about the availability of a Premier account in the setup of a new PayPal account after selecting Spain as the registration country, then it is available. If you are reading about it elsewhere, it may not be something that is still possible to choose in Spain. Premier accounts are a little bit like a Business account and a little bit like a Personal account. The account is not registered to a business name like it would be with a Business account, but it has a little bit more robust reporting than a Personal account. In most countries, only Personal and Business account types are available now.

 

New accounts are typically subject to delayed funds availability, and once they are verified, there should not be any withdrawal limits. You may be asked at some point to supply additional identity confirmation information at some point.

 

Fees are charged to the sender only when sending a personal payment for Friends and Family with no expectation of receiving an item in return. A person sending a Goods and Services payment to you would not be charged any fees, no matter whether the payment is sent directly from their account, or via a checkout button, or in response to an invoice. You as the receiver would pay a fee to receive the payment. Domestic payments would be charged the base fee of 3.4% + the fixed fee (which varies depending on currency received) as well as a cross-border fee that depends on the sender's country. The tables that explain the various fixed fees and cross-border fees can be found toward the bottom of the User Agreement, which can be found by clicking Legal at the bottom of the PayPal website.

 

I hope these answers help!

 

Olivia

 

If this post or any other was helpful, please enrich the community by giving kudos or accepting it as a solution.
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Contributor

Re: Freelance and Paypal Receiving money (Business or Personal?)

Thanks for the answer, I understood almost everything, but I want to clarify a few points that I did not fully understand:):
1) about new accounts, I didn’t quite understand “New accounts are subject to delayed funds availability,” as I understand this, You mean there is an amount that is in some status, or a total amount, I do not quite understand about it and how will it be verified? As well as additional documents for verification is residence, bank statement and so on? And this information will be required in case when will be some questions?
2) Sorry, I can't correctly navigate the table, what will be the cross-border fees if a person sends a payment from Ukraine to the account of the PP in Spain?
3) Another such question, I read a lot about freezing / delaying funds for payment for services / goods for 21 days. Is it true that the PP blocks or can block or in what cases it blocks the funds that are received as payment for goods / services? Does this relate to new accounts or for all accounts, is it related to the provision of digital services without a shipping address?
Thanks You

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Moderator

Re: Freelance and Paypal Receiving money (Business or Personal?)

Hi @Lydmila,

 

I'm happy to help.

 

Your first and third question are related. The delayed funds availability I mentioned is the 21 day hold for received payments. For new sellers, and sometimes for sellers that aren't new but who sell higher-risk items, all payments will be held for 21 days following the transaction date. They can be released more quickly if tracking information is supplied which shows delivery.

 

The cross border fee for a payment received in Spain from Ukraine would be an additional 1%.

 

I hope this helps!

 

Olivia

 

If this post or any other was helpful, please enrich the community by giving kudos or accepting it as a solution.
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Contributor

Re: Freelance and Paypal Receiving money (Business or Personal?)

Thanks for the answer. What are "delayed funds" the means that the PP is delaying funds? That is, for me as a new seller (no matter what category I choose invoce or something also), will there be a delay in the first payment for 21 days? And how many transactions in this case will be delayed on 21 day by the PP, or until when can I receive payments immediately?
2) What services are high-risk, and also when providing freelance delivery services are not available, I choose invoices in which the buyer indicates information about the lack of claims, can this be done?
3) There was another question after communicating with support in tickets: in one of them I spoke in English, they wrote me everything in detail and answered, they also answered me that "As a freelancer you can receive payments both it will be needed to clarify the nature of your business. " But a few days later, an answer came from another ticket, which I created and there came an answer in Russian where most likely the text was simply copied from the terms of use or from somewhere else where it was said that "Note. Personal account cannot be used for commercial purposes" . Hence the question: how can I receive payments and which account can I use if I have different answers to one question? In english ticket I was assured that I can open a personal account for such purposes, especially since I do not have a company. And how can I explain the nature of my business in a future, at a certain stage? After all, this is freelancing and I, besides invoices, don’t have a website or a page, only clients with no complaints?
Thank you for your time.

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Contributor

Re: Freelance and Paypal Receiving money (Business or Personal?)

Please, if you have time, answer my questions, I have very few of them left:)

Thank You