PayPal business and personal - same bank account - possible?
PayPal business and personal - same bank account - possible?
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MitchT

Original Poster:

17,157 posts

239 months

Tuesday 27th September 2016
quotequote all
Not sure if this is best in finance or business, so I'll start here.

I'm thinking of selling my music on Bandcamp and this requires me to have a PayPal business account. I already have a PayPal personal account and would like to keep that separate rather than upgrade it to a business account.

If I set up a PayPal business account, can I associate this with the same bank account that my PayPal personal account is associated with? I can't find a clear answer anywhere.

If not, what's the easiest way to set up a separate bank account for my PayPal business account? Do I need a business bank account or is there some other kind of simple bank account I can use? Can I associate it with my savings account?

I need to keep things as cheap and simple as possible as it's entirely likely that I won't make much money, if any, for some considerable time, so I need something that doesn't get closed by the bank or subjected to penalties if it lies dormant for months on end, or incur charges on transactions that will likely exceed any income.

NewChurch

235 posts

128 months

Tuesday 27th September 2016
quotequote all
Nope, you need a separate account. It's super easy to get a business account these days, just apply online with whoever you want to bank with.

MitchT

Original Poster:

17,157 posts

239 months

Tuesday 27th September 2016
quotequote all
Thanks. Done some digging and it looks easy and, given that all my transactions will be electronic, should be very cheap too.

LDN

9,314 posts

233 months

Wednesday 28th September 2016
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Let us know when it's up and I'll check out the music smile