Premier accounts are for single persons and small businesses where only one person have access to the account. Business accounts are for a little larger corporations where more then one person have access to it. Of course you can also use a Business account if you run a small business as well. But it is not needed. As for the receiving limit.. When you have hooked up a bank account and verified it and also connected a credit/debit card and verified that one and also confirmed your address and upon request fill in some basic business information and perhaps also send in a scanned/faxed copy of your passport/drivers licence then the £1700 limit will be lifted. Here is info from PayPal about this: " How can I remove sending, receiving and withdrawal limits? All PayPal accounts are initially ‘Unverified’ and have limits on sending, receiving and withdrawing money. To remove these limits and to comply with EU law, we will ask you to verify more information about yourself by completing some or all of the steps below: Set up bank funding Link and confirm a credit or debit card Provide business information (Premier and Business accounts only) Confirm your address By setting up bank funding your PayPal account will become Verified. You can complete the steps and remove all your limits, as follows: Log in to your PayPal account at www.paypal.co.uk Click the 'View Limits' link on the ‘Account Overview’ page Tick the box next to ‘Receiving Limit per year’ and click 'Lift Limits' Follow the instructions to lift each one Note: You can begin these steps at any time, however if all the steps are not completed and you reach the annual receiving limit of £1,700 then you will no longer be able to withdraw or send money, fund transactions or close your account until you complete the steps."
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