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Can you I use paypal as my business account?

Do I need another a bank account, or can I simply use Paypal?

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yes u can

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• Actually, not all your customers would have to have an existing paypal account to do business with you. You can use paypal for a business account. Paypal has a program called the virtual terminal which allows you to accept credit card payments from your clients by taking down their information and typing it into the virtual terminal to receive a confirmation number. The cost is about 30 dollars per month plus transaction percentages. It is less expensive than regular merchant accounts though and paypal offers this service on a no contract basis which can be great for helping small business owners. I suggest you open a free business checking account somewhere and transferring the funds you collect by credit card through your paypal account to your business checking. It takes a few days for the money to transfer but it doesn't cost anything. :)

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• You can use paypal, but remember that your customers will also have to have a Paypal account in order to do business with you. This might discourage some customers, especially if your business is not geared toward on-line shoppers.
  
  Also, Paypal charges a percentage for some transactions. Make sure this cost is considered in your cost of sales and be sure it does not eat away at your profit. Banks also charge fees for certain transactions, but the fees are usually a result of an abnormal transaction (over draft or bounced checks). Paypal fees are transactional and occur each time money trades hands.

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