I’ve used PayPal for as long as I can remember. I think I first set up my PayPal account so that I could buy and sell on eBay. Those of a similar age to me probably set theirs up for the same reason too. PayPal has become a really popular way to send money since it was first launched back in 1998. As the years have gone on, it’s grown in popularity and as well as being used to buy and sell personal items online, many businesses and bloggers use PayPal as their primary source for receiving payments. As a blogger myself, initially I ran all of my payments through my personal eBay account. But as we started to plan to buy a house, I wanted all of my business finances to be completely separate so that it was easy for a mortgage provider to see business transactions in one place. Thankfully that time is now behind us, and we’re finally in our forever home.
When I first started to look into running more than one PayPal account, I struggled to find a definitive answer to the question “Can I have two PayPal accounts?” So, I’ve looked into this thoroughly and found the answers for you.
Can I have two PayPal accounts?
The simple answer to this is yes, you can have two Paypal accounts. But it is a little more complicated than that. This post explains everything you need to know if you’re wondering “can I have two PayPal accounts?”
The reality is that there are different types of PayPal accounts, and you need to take care that you know PayPal’s rules so that you don’t operate any accounts that breach their terms and conditions.
Can you have more than one PayPal account?
It is possible to have more than one PayPal account, but it’s not quite as simple as just opening up two different accounts. You can only have one personal PayPal account and one business PayPal account.
A personal account is an account you would use for buying and selling your unwanted items on eBay, for example. You would set this up using your own email address linked to your personal bank account.
A business account is what you would use if you were buying and selling online purely to make a profit, running a blog, or running any other kind of business. This would usually be linked to a business bank account, but it can be linked to a personal bank account, particularly if you’re operating as a sole trader.
Having a separate account each with a different email address means that it’s far easier to keep your personal and business finances separate. It’s far easier to keep on top of transactions when you have two different PayPal accounts.
Can I have two PayPal accounts with the same bank account?
When you first set up a new account, you will need to link your bank account and debit card to that new account. These can then only be used by that one PayPal account. So, if you do have a personal account and a business account, each will need separate bank details attaching to them.
Can I have two PayPal accounts in different countries?
This gets a little tricky as PayPal have to abide by different laws in different countries.
If you move to a different country, then you should close down your old PayPal account and open up a new one in your new country of residence.
Can you have more than one personal PayPal account?
No, you cannot open more than one personal PayPal account. If you are found to be running multiple personal accounts, then you run the risk of losing access to your accounts and having them closed down permanently. PayPal have to be very careful about how they run their operation, particularly due to anti-money laundering legislation, so if you have multiple personal PayPal accounts then you might have a little explaining to do in order to get any funds returned to you.
Can you have more than one PayPal business account?
No, you can only have one PayPal business account. However, you can add multiple email addresses to this one account so it’s possible to receive payments for different businesses this way.
How do I add another email to my PayPal account?
- Log into your PayPal business account
- Click on your name in the top right corner
- Click “Profile Settings”
- Select “Login and Security”
- Navigate to “Email Address” at the top of the page
- Click “Update”
- Add or remove email addresses as required
What is the difference between Personal and Business accounts?
Personal accounts are designed for use by individuals who primarily use their accounts to send money to family and friends. These accounts are also ideal for making purchases online. As the name suggests, these accounts are designed for personal use.
As the name suggests, business accounts are designed for use by businesses. A business account has far more user options than a personal account and offers options such as:
- Access for multiple employees and the ability to limit what different users have access to
- Your business name can be set as the account name
- Checkout options for your website
- No monthly fees (unlike many business bank accounts)
- Accept payment in multiple currencies
- Ability to accept a wide range of payment methods
Yes, you can have more than one eBay account linked to one PayPal account.
Is PayPal a safe way to send money?
When you use your PayPal account to make a payment, only PayPal can see your financial information such as your debit card details.
TIP – Be sure to keep your mobile phone number up to date as PayPal regularly send a validation code to your registered number when you log in which you then have to enter online in order to gain access to your PayPal account.
You can also set up security questions and 2-factor authentication which are both a good idea to give your accounts an extra level of security. You can do this no matter which account type you have.
Do PayPal charge any fees?
PayPal do charge fees, but not on all transactions.
Whenever you receive a PayPal payment that is NOT made through PayPal’s friends and family option, then a fee will be deducted from the amount you receive. There is a simple PayPal fees calculator here that can help you to work out how much you’ll pay.
So there you have it. Hopefully, you’re a little clearer now if you’ve been wondering about the answer to “Can I have two PayPal accounts?” There are real benefits to having a separate PayPal account if you’re running a business that accepts online payments, but you do need to be sure that you know the current rules. If in any doubt, then the best option is to contact PayPal support directly, as they will have access to all of the latest rules and regulations.