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Paypal question

Discussion in 'BlackHat Lounge' started by Cdman, May 27, 2012.

  1. Cdman

    Cdman Power Member

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    Hi,

    I write articles and sell links on some of my sites. Most of the time I get paid into PayPal, but I've just reached ?1,800 so they want more info. They just want me to tell them whether I am :

    An individual consumer, refers to any individual or household that is not a business, legal entirety or other type of organisation.

    A sole proprietor.

    Any other type of business, charity or government entity.

    What do you think I should do? I'm not really a business, am I?
     
  2. MarketingMagician

    MarketingMagician Newbie

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    Try putting your personal name as the business name.
     
  3. Cdman

    Cdman Power Member

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    See I just don't know, I'm not a business but I'm not really a consumer either since I do receive a decent amount of money into Payapl.
     
  4. MarketingMagician

    MarketingMagician Newbie

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    You are a business, because you've been paid for your services.

     
  5. Cdman

    Cdman Power Member

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    Yeah that's true. But they don't need any proof that I run a business do they? Because I never created a business etc
     
  6. MarketingMagician

    MarketingMagician Newbie

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    Well, you can convert it to a business account, because if you do that, your account will truly be unlimited.....that's what I did.

    All I provided was ID, and proof of address.

     
  7. Cdman

    Cdman Power Member

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    Thanks a lot for the help.

    They've already got my ID and proof of address by the way :) (had issues with them before!)

    I might spend the money that's in the account then change to business just to be safe
     
  8. Exaggerated

    Exaggerated BANNED BANNED

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    You are indeed offering services and earning money from it so you can be considered as a business type.

    PS: Business type has some pros and cons too. Pros: Higher limits, low chances of getting limited (if you are receiving below $10k) Cons: High fees, alot of complications on the account but you'll get used to it. Part of their security measures.
     
  9. Cdman

    Cdman Power Member

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    Ah, are the fees even higher on a business account :( ? Can you receive gift payments on a business account?
     
  10. marusia

    marusia Senior Member

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    I didn't receive gifts when I was business.

    When I was selling decent amounts on eBay, my PayPal was set up as a sole proprietor. They use your SSN.(if you're American.) my business was registered though. Not sure how the currency exchange is, but PayPal reports at 200 transactions and 20k usd. See what it is in your country, and if it's higher than you think you'll make, I'd just say individual consumer unless you have a registered business, just mho.
     
  11. Blacklp

    Blacklp BANNED BANNED

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    Great information about paypall i'm just setting up my paypall acount so this info is very usefull. Thnx
     
  12. Zuckerberg

    Zuckerberg Regular Member

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    You're not a business because you're not a registered company..
     
  13. Cdman

    Cdman Power Member

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    Yeah. I was talking to PayPal about my account before and I'm pretty sure they said something about upgrading to a business account even though I'm not exactly running a business.

    It's a bit confusing
     
  14. Cdman

    Cdman Power Member

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    Yeah I know that but I think PayPal think that you shouldn't be regularly receiving money if you have a normal account. And I do regularly receive money.
     
  15. terry_oi

    terry_oi Newbie

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    Hello everyone and sorry about bringing up an old thread but i'm in the same situation and not sure what to choose.. What did you end up doing after all? I'm mostly earning through fiverr (not great amounts though) and wanted to know what's the best option.. Also is it possible to change this afterwards if say i choose 'individual consumer' now and make it 'sole proprietor' later?