Starting a business: set up new PayPal or convert my existing one to business

[KatyMac]

If I'm being paid (hopefully regularly) by PayPal I assume I need a business account

If I do should convert the one I've had for years or do I set up a new one in my business name?

Are there pros and cons?

Bump

I didn't think you could convert a current one. I thought you just has to register a new one.

But if you can, you shouldn't. It takes minutes to set up a business account and it's good practice to keep all your business and personal incomings and outgoings separate to make tax returns easier.

I struggled to change the name on my paypal when I got married so it might be easier to set up a new one with your business name, also means you can still use your personal account for transactions you don't need to pay for.

I don't have a debit card (yet) for the account I'm using - I guess I should order one

Someone has just said Paypal is the most expensive way of taking payments

Is that true?

This seems like the most suitable way of doing selling for very small volumes