what the different between company and individual accourt?

trust
trust Member Posts: 4 ✭
in Ask The Community
what the different between company and individual accourt?if i alrd register a company accourt can i change to individual accourt?

Answers

  • trust
    trust Member Posts: 4 ✭
    sorry is account
  • miled21
    miled21 Member Posts: 12 ✭✭
    good question im not sure but i think with besiness account you can accept payments from individuals to your us and uk global payment accounts and even you can get paid via credit cards . you may asked for official documents of your besiness for your application.
  • ahsanhabibcy
    ahsanhabibcy Member Posts: 27 ✭✭

    maybe the transaction fees and limit varies?

  • [Deleted User]
    [Deleted User] Posts: 1,147 ✭

    If you choose to apply as a company, it means to apply under the name of the company that you own and that you wish to work and get paid under your business name. If not, if you work as a freelancer, it is better to apply as an individual.

  • strawberry
    strawberry Member Posts: 1 ✭
    Hi Cristale, thanks for that info. I have some follow up questions:
    1. If I've registered under individual and I want to change it to a Company instead, can I do that?
    2. Also, will I be able to withdraw to my personal bank account even if I have a Company profile? This is a sole proprietorship so my bank account is still under my name.

    If you can please get back to me on that I would appreciate it. Thanks!
  • [Deleted User]
    [Deleted User] Posts: 176 ✭

    Hello, @strawberry

    1. There is no way to switch individual account to a company account and vice versa. In this case, you will need to re-apply for a separate company account using a different email.
    2. Yes, you will be able to do so.

    Let us know in case if you will have additional questions

  • Juherianto
    Juherianto Member Posts: 1 ✭
    Hi @Aleksandra_Payoneer, regarding the differences between individual or company account, I have several questions.

    1. Is there any different commission fee or administration fee between individual and company account?
    2. If I wanted to sell on Amazon US from Indonesia what type of account will be suitable for me individual or company account? I plan to form LLC also in US state with legal name

    Really appreciate your response regarding my question above, thank you and looking forward to your answer :smile:
  • KazPayoneer
    KazPayoneer Confirm Email, Member, Administrator Posts: 1,559 ✭✭✭✭✭✭✭

    Hello there @Juherianto,

    To answer your questions:
    1) The fees are not different between an individual or company accounts. The only thing that is really different from the two accounts is that the company account allows a business name to be shown.

    2) It depends on how you sell your services/items. If you use your business name on Amazon, use the company account. If you use your own name, your personal name will be fine.

    Thanks!

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