Pseudorange bias refers to the receiver-dependent and satellite-dependent constant bias in the pseudorange resulting from the nonideal characteristics of a signal. The impact of pseudorange bias on high-precision satellite navigation services has long been ignored. This paper proposes a pseudorange bias calibration method for two collocated receivers. Then, we calibrate pseudorange biases for two types of collocated receivers at a monitoring station within China and evaluate their impact on two high-precision services: BeiDou Navigation Satellite System 3 (BDS-3) dual-frequency pseudorange augmentation and precise point precision (PPP). Theoretical analysis reveals that the calibrated pseudorange biases contribute 17.2% and 7.7% to the user equivalent ranging error (UERE) of BDS-3 and Global Positioning System (GPS) dual-frequency pseudorange augmentation, respectively, and that the convergence time of the GPS static and kinematic PPP increases from 6 min and 26 min to 19 min and 58 min, respectively. The experimental results indicate that the calibrated pseudorange biases are consistent as the receiver location and time vary. The spatial distribution consistency is generally better than 0.1 m, and the temporal consistency is better than 0.15 m. The pseudorange biases for BDS-3 B1C and B2a are approximately 0.7 m and 0.1 m, respectively, whereas those for GPS L1C/A and L2P are both approximately 0.25 m. Furthermore, The results show that after correction of the pseudorange biases, the average convergence time for BDS-3/GPS static PPP decreases from 48.83/24.03 min to 38.54/21.12 min, respectively, a decrease of approximately 21%/12%. For BDS-3/GPS/BDS-3 + GPS kinematic PPP, the average convergence time decreases from 109.53/45.10/39.15 min to 62.99/40.83/22.94 min, respectively, a decrease of approximately 42%/41%/9%. Similarly, the three-dimensional positioning accuracy for BDS-3/GPS/BDS-3 + GPS dual-frequency pseudorange augmentation improves from 3.25/3.94/2.49 m to 2.65/3.69/2.16 m, respectively, increasing by approximately 6.3%, 18.5%, and 13.3%, respectively. The above analysis and experiments demonstrate that pseudorange bias is an important error source affecting both dual-frequency pseudorange augmentation and PPP services.