Managing Multiple Currencies
You can choose what currencies to accept and how you would like to accept them. When a buyer sends a payment in a currency you hold, the money will automatically appear in your account in that currency. When a buyer sends a payment in a currency you don’t hold, you can:
- Open a new currency balance to accept the payment.
- Convert the payment to a currency you do accept.
- Block the payment.
You can choose a primary currency as the one you use most often for sending and requesting payments. It’s also the currency that is used for your withdrawal limits.
If you convert a payment into your primary currency, PayPal offers conversion rates that are competitive with those of other consumer services. You can always preview conversion rates on currencies you don’t hold before accepting payments.
Personal Account – It is an account provided by PayPal that allows users to make safe and secure online payments. It can also be used to send money and accept payments. It is an account most suited for users who buy and sell online. You can also link your checking accounts with your PayPal account for easier money transfer and payment options. Besides having all those good reasons to sign up, having a Personal Account on PayPal is free of charge and is accepted by thousands of online stores.
Limited Monthly payments at $500 can increase if account is verified through bank accounts up to $10,000.
Business Account – Just as with a personal account, it allows users to make safe and secure online payments and accept payments as well, but for low fees. It is an account most suited for online merchants and other business-inclined entities. It also allows you to do business under a company or group name.
With a business account, there are lots of features added such as accepting payments on your website, sending and receiving payments among members of over 203 countries. You can also have access to the money in your PayPal account through Debit MasterCard BusinessCard; you can download your account history into a spreadsheet, make payments to hundreds of people simultaneously, and can accept unlimited credit card payments.