Overview
PayPal Business, at a glance.
PayPal Business is a bank (luxembourg) and e-money institutions headquartered in the United States, regulated by CSSF, FCA, MAS, ASIC. Business accounts cost £0 a month. Opening an account takes 3–5 days. Each PayPal market has its own account and agreement: Luxembourg's is for businesses registered in Luxembourg, Canada's for businesses organised in, operating in or resident of Canada. Whether owners may live elsewhere is not published.
In the UK, PayPal UK Ltd safeguards customer funds apart from its own money under the Electronic Money Regulations 2011; the balance is electronic money, not a bank deposit. In the EEA the account is held with PayPal (Europe), a Luxembourg bank, under its local agreement.
Why businesses pick PayPal Business
- Free to open, no monthly fee
- Get paid by PayPal checkout, cards, invoices, payment links and QR codes
- Send, receive and hold 22 currencies
- Free withdrawals to a UK bank account (no conversion)
- UK Business Debit Mastercard with 0.5% cashback
Watch out for
- No IBAN or account number in your company's name
- 2.9% + £0.30 per UK sale, plus 1.29% to 1.99% from abroad
- 3% over the base rate on currency conversion
- £14 per chargeback
- One account per country: a business opens PayPal's account where it is registered
Business fit
Will PayPal Business accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on PayPal Business's published rules
Needs review
PayPal Business works with E-commerce, but does not publish the countries it accepts companies from.
PayPal Business does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What PayPal Business publishes about the businesses it takes on.
Who PayPal Business serves
- E-commerce
- Marketplaces
- Startups and SMEs
- Freelancers
- SaaS
- Creative
Not supported
Industries and countries PayPal Business does not accept, from its own published lists.
Industries
- Activities that violate any law, statute, ordinance or regulation
- Transactions involving narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety
- Drug paraphernalia
- Cigarettes
- Items that encourage, promote, facilitate or instruct others to engage in illegal activity
- Stolen goods including digital and virtual goods
- Promotion of hate, violence, racial or other forms of intolerance that is discriminatory, or financial exploitation of a crime
- Items considered obscene
- Items that infringe or violate copyright, trademark, right of publicity, privacy or other proprietary rights
- Certain sexually oriented materials or services
- Ammunition, firearms or certain firearm parts or accessories
- Certain weapons or knives regulated under applicable law
- Transactions showing third-party personal information in violation of applicable law
- Pyramid or Ponzi schemes, matrix programs, get-rich-quick schemes or certain multi-level marketing programs
- Purchases of annuities or lottery contracts
- Lay-away systems
- Offshore banking or transactions to finance or refinance debts funded by a credit card
- Sale of certain items before the seller has control or possession of the item
- Payment processors collecting payments on behalf of merchants
- Sale of traveller’s checks or money orders
- Currency exchanges or check-cashing businesses
- Certain credit repair, debt settlement, credit transaction or insurance activities
- Payments for bribery or corruption
- Products or services identified by government agencies as having a high likelihood of being fraudulent
- Any activity requiring approval where the required approval has not been obtained
Countries
- Not published
Coverage
Where can you use PayPal Business?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
22
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- BRL
- CZK
- DKK
- HKD
- HUF
- ILS
- MXN
- NOK
- NZD
- PHP
- PLN
- SEK
- SGD
- THB
- TWD
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Registered businesses and commercial users, in the PayPal market where they are registered
Pricing
What does PayPal Business cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
Free
Business account (UK)
£0 per month
£0 setup · £0 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| Local transfer to another bank | Free | No charge · Withdrawal to a UK bank account, no currency conversion |
Other fees
Payment acceptance
| Cost | Listed amount | How it is charged |
|---|---|---|
| Card payments | 2.9% + £0.3 | Percentage plus a fixed fee · UK domestic sales; plus 1.29% from EEA buyers or 1.99% from elsewhere |
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | 3% | Percentage of the amount · Above the base exchange rate |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Virtual card issue | Free | No charge |
| ATM withdrawal | £1 | Fixed fee |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Choose your country
Open the PayPal Business sign-up page for the country where the business is registered.
- 2
Create a login
Fill in the business and account details.
- 3
Link a bank account
Link the business bank account that withdrawals go to.
- 4
Verification
Complete any identity, business or risk checks PayPal asks for, then start taking payments.
Documents you need
Not published
FAQ
Your questions, answered.
Does PayPal offer business accounts outside the US?
Yes. PayPal has local business account pages and online sign-up in markets such as Luxembourg, the UK, Singapore, Australia and Canada, each with its own PayPal company and agreement. Its worldwide page lists about 200 markets, though not every business feature is offered in each.
Is a PayPal Business account a bank account?
No. It is a PayPal balance of electronic money, with no IBAN or account number in your company's name; you withdraw it to a linked bank account. In the EEA it is provided by PayPal (Europe), a Luxembourg bank (CSSF B00000351); in the UK by PayPal UK Ltd, an FCA e-money institution (994790).
How much does PayPal Business cost in the UK?
Opening and the account are free. Domestic sales cost 2.9% + £0.30, plus 1.29% from EEA buyers or 1.99% from elsewhere; currency conversion is 3% above the base rate; a chargeback is £14 (fee page updated 1 October 2026).
Does PayPal accept gambling businesses?
Its UK acceptable use policy prohibits payments for lottery contracts and lists other activities that need PayPal's approval first; a gambling stance for operators is not published on the pages read.
Alternatives
How PayPal Business compares.
If PayPal Business is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 PayPal BusinessThis pageBank (Luxembourg) and e-money institutions |     | Online paymentsMerchant wallet |
 StripeE-money institution |   | Online payments44 countries |
 PayoneerE-money institution | | Marketplace payoutsMass payments |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
 Skrill BusinessE-money institution | | Merchant wallet40+ currencies |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.