The first thing I had to do to earn my million dollars was to have a place to put all my cash. PayPal made the most sense.
PayPal is great because you can be as casual or as professional as you want. You can set the count using only an e-mail address, or the other and you can set up a complete payment gateway that processes credit card transactions.
I chose a business account because it gave me more flexibility down the road. It doesn't cost anything for the basic business account.
The other reason I chose it is because it has a referral program. If you encourage other people to set up a PayPal business account, you earn half a percent of their incoming transactions for an entire year. For example, if you click the link below set up a PayPal business account and end up earning $1 million in the first year, I'll earn $5,000.
You can have more than one PayPal account, however you can't apply more than one PayPal account to the same bank account. I have a PayPal account for my business, and my wife has one she uses for eBay, so this third one I had to set up and connect to my savings account. More about that tomorrow.