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Creating new Paypal in a LLC business name?

Discussion in 'Black Hat SEO' started by JaseDavis, Jan 31, 2014.

  1. JaseDavis

    JaseDavis Newbie

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    My account was just limited not too long ago. I am thinking about paying the money to register a LLC business with my EIN # and all. I will than get a bank account in the LLC name and of course with a bank debit card from that account. I would most likely use a friends address or a virtual office address with it along with new phone number and IP address.

    Do you think I would have any problems later down the road of them potentially linking the accounts? This may be a stupid question since we are talking about Paypal here. I am just wanting to know if any other blackhat members have any prior experience about this.

    I process about $300 - $500/daily with a online marketing service that I provide. What I was thinking about doing is splitting the payments to goto my business partner paypal account along with mine so that way its not as much and than slowly increase the sales that go into the new LLC business paypal account down the road once it ages more and has a good track record.

    Please let me know any pointers that I may need to lookout for or any feedback at all.
     
  2. fxphil

    fxphil Senior Member

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    I have done this before, I have used my name but setup a business account. You just want to make sure that you do not link any old CC numbers or accounts. Also cash out money as quickly as possible as soon as your money comes under review they do the "PAYPAL LOCK DOWN" and they make it a pain in the ass to get your money out. They will then allow you to only accept money so that's "sorta good" but when you run a business that's outsourced and you are stuck in transition you will be paying out of pocket while being reviewed. My suggestion would be to go with another CC processor for big transactions and then have paypal setup for smaller transactions. Paypal 90% of the time sides with buyers as compared most CC companies working with you and evaluating fair practices that lead to less charge backs.
     
    Last edited: Feb 1, 2014
  3. Groen

    Groen Regular Member

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    I remember once reading that paypal allowed you to have both a personal account and a business account. You should look it up yourself though, maybe ask paypal's support to be certain. I have had a business account and a personal one for about a year now, and I've had no problems so far though I have not used the business account that much really and they did not share the same credit card.
     
  4. innozemec

    innozemec Jr. VIP Jr. VIP

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    Yes, you are allowed to have 1 personal paypal and as many business accounts you wish for each different registered company you have. They can all be on same address and details without any worries. There shouldn't be any problems down the road as each LLC has its own liability in the real world and is treated separately from all rest you might own
     
  5. venins

    venins BANNED BANNED

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    dont link any old cc or anything related to your old pp account
     
  6. freller

    freller Regular Member

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    I've had 6 figure sums limited on PayPal before now but it was my fault - I just did too much too quickly. It was all released in the end (few months later).

    Paypal was never designed to cope with big product launches - eBay was originally where it did the largest number of individual transactions. So, go with someone who deals with professional levels of transactions - no need to have to be an LLC.