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Need Paypal Advice

Discussion in 'Business & Tax Advice' started by s1wg4u, Jun 12, 2011.

  1. s1wg4u

    s1wg4u BANNED BANNED

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    I have a few very unique eBooks that I want to sell on the warrior forum. However, Paypal hasn't exactly liked me for a few years now. I obviously need to use them as the payment processor because if I don't I have a feeling conversions will significantly decrease.

    My question is, can I create a business account with paypal with a new business EID and business bank account/ debit card tied to the account? I know if I use it personally they will simply lock my account with tons of funds in it and that will be absolute hell. What do you guys think?


    Regards,
    Stephen
     
  2. scriptomania

    scriptomania Junior Member

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    Hey man,
    sorry if I got you wrong, you basically want to create a new business paypal account? If so, wouldn't it be considered against their TOS, since effectively you are opening two paypal accounts on one name?

    Cheers

    Edit: actually no, ditch that, just remembered that they allow that. Think you should be ok.
     
  3. s1wg4u

    s1wg4u BANNED BANNED

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    Well, it wouldn't be under my name. I would get a new federal tax ID for my business, then open it up under my business information. Any thoughts?

    I can always use another payment processor such as Plimus, or 2co, but a monthly payout isn't necessarily what I'm looking for. Not to metnion, conversions are a lot higher with WSO Pro than with other payment solutions.
     
  4. volund

    volund Senior Member

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    Normally I would say opening up a separate business account would be OK and you would not run into any problems. But.... You say they have not like you for a for a few years which puts the whole thing on much shakier ground. If you do it you need to make sure there is absolutely no way they can connect your old account (that I am assuming was suspended/closed) and your new account because if they do connect them my guess is you would end up with a another frozen account and no money.
     
  5. bryanon

    bryanon Executive VIP Premium Member

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    You can always use 2CO and by doing this still accept PayPal payments without actually having the money go through your PayPal account. That's what I did when I had problems with PayPal about a year back.

    The downsides are that 2CO will want to review your website (you'll have to create one), and want all orders to go through that website (you'll have to add an additional "step" to your order process) and that their fees are somewhat higher than PayPal's.
     
  6. AdsMakesSense

    AdsMakesSense Regular Member

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    What do you mean Paypal doesn't like you? What did you do a few years ago with Paypal?
    You should work with Paypal to resolve the issue or you may get linked to that old account if an issue arrises (given that you used the same name/addresss/SSN).
     
  7. restinpeace

    restinpeace Newbie

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    is that true that i can have 2 accounts on paypal ?
     
  8. kabirsharma

    kabirsharma Newbie

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    Paypal is the best way to get your your online money transactions.
     
  9. VIC SEO

    VIC SEO Elite Member

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    Paypal is a good processer for payments , only the fees is a bit higher , so try to co op with it..