Many people have at least one PayPal account, but they don’t know whether or not they can own a second account. Fortunately, users can have two PayPal accounts with some restrictions and limits. There are tons of reasons why you would want to have a second account, which we’ll take a look at. You must be careful when using two PayPal accounts to avoid any restricted or limited accounts. So then, let’s take a look.
The Rules for Owning Two Accounts
PayPal allows users to open two accounts in their name but no more than that. Users may only have two different types of accounts. In simple terms, a user can have one Personal account and then one Premier or Business account. Don’t try to open up two personal accounts or something like that because the company will delete your accounts. Of course, each account has to have its own e-mail address. Also, accounts must have separate financial information. That means that you could link one account to a checking account and the other to a savings account or another checking one. Other than that, there aren’t any rules for owning two accounts if you are using them legitimately.
Reasons to Use Multiple Accounts
Having two accounts can come in handy in many situations. For example, you could use one account for personal matters and one for business. This is extremely useful if you sell on eBay because you can keep your accounts separate. Also, a second account comes in handy if one of them gets restricted for some reason. You will probably be able to get your account de-limited in a day or two, but you will want to have access to other funds in the meantime.
Here are some other reasons for having two PayPal accounts:
– You can diversify where you money is held. For instance, you can still have a backup account if something happens to your primary account. Don’t risk the nightmare of having limited access to your only account – make a second one.
– If you do business online, then a business account is a great account. You should also have a personal account too. Of course, this will help you keep your business and personal finances separate, which will lead to better management of your money. This helps a lot during tax season.
– You can use two accounts to use multiple eBay accounts. For example, you could use a personal buying account and then a business selling account. Many eBayers do this on a regular basis because it’s just a smart way to use the online auction site
Multiple accounts are allowed, and I encourage them.
Most people encourage the use of two PayPal accounts. It minimizes your risk for problems and other situations. Also, you can keep money in different places to prevent major losses. As long as you are using the account for lawful purposes, then nothing bad can come of it. You just have to avoid doing anything that PayPal might deem suspicious because it will limit your accounts right away. Be smart about how you use your accounts.
For more information, visit PayPal.
