Do You Use Multiple Separate PayPal Accounts For Your Business

by Zanti

Posted: 13 years ago 14 replies

INTERNET MARKETING

So I've done a few searches here and google and have also sent this question to paypal for a response.

Hoping that some of you have gone through this and can offer your experience, tips and help.

My business is moving to a different level. I've been using the same paypal business account for a few years now. We've recently started a new LLC with 3 assumed name LLc's under the main LLC.

All 4 LLC's operate in different niches. The 3 assumed name LLC's use the EIN (employer id. number) of the main LLC.

All 4 LLC's have separate checking accounts and email addresses.

Is it just a simple matter of setting-up 4 separate paypal business accounts, one for the new main LLC and one each for the 3 assumed name LLC's.

Just want to make sure I'm doing it right so I won't run into any problems down the road with paypal account limits, freezes etc.. and also for my own business accounting practices.

Appreciate your thoughts on this. Thanks.

Brian

#accounts #business #multiple #multiple accounts #paypal #paypal business accounts #separate #separate paypal accounts

Zanti 13 years ago

So far what I'm coming up with is that I should be able to set-up multiple accounts.

I have to believe that there are several here who are doing the same using assumed names or DBA's with different bank accounts and using multiple paypal accounts.

I'm I correct in assuming that I should be able to do multiple business accounts as outlined in the above post with no problems?

Brian
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- vansterdam420 13 years ago
  
  One of my employers uses multiple paypal accounts and it doesn't seem to be a problem. I think you just need to be able to verify each business.
  
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JustinDupre 13 years ago

I separate paypal account for each service I provide and diff for my personal. Easier for me to keep in track and check history.
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- Zanti 13 years ago
  
  Thanks 420 and Justin.
  
  So what you guys are saying, it just a simple matter of providing the correct info and no problem.
  
  Nothing to be aware of or things to know ahead of time.
  
  Thanks,
  
  Brian
  
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Dr Dan 13 years ago

Cool! Thanks for posting this since I always assumed you could only have one account with paypal.
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- ThrillerAuthor 13 years ago
  
  Originally Posted by Dr Dan
  
  Cool! Thanks for posting this since I always assumed you could only have one account with paypal.
  
  My understanding is that any person may have 2 paypal accounts - a personal one and a business account - this is what I have at the moment.
  
  I don't know about businesses as legal entities - can you open the paypal account in the business' name or do you have to open the account in a person's name?
  
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david pauls 13 years ago

You can have one personal account and one premiere or business account.

If your separate businesses are each incorporated, you can have separate business accounts for each of them, as each would be a separate legal entity.

If your current business account name is confusing to your customers, you should either explain to them that they will be charged by "companyname". or set up a LLC to establish a new identity. Or as sousen suggested, open a new PayPal account for another family member (using different bank accounts).
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Claire Sharp 13 years ago

I don't it's an issue to have multiple accounts at PayPal. For me in business, having a multiple accounts are more convenient and easy to monitor. There, you can track down easily your transactions.
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- Zanti 13 years ago
  
  This is the response I received from PayPal today. The answer is a simple one, as I thought. Thanks all for taking the time to share your thoughts.
  
  Brian
  
  Dear Brian Alexzander,
  
  Thank you for contacting PayPal.
  
  You can use the same EIN on all accounts as long as each account has its
  own email address and bank account.
  
  Here's how to sign up for a PayPal account:
  
  1. Go to https://www.paypal.com/.
  2. Click "Sign up" at the top of the page.
  3. Select your country or region and your language.
  4. Choose your account type (Personal, Premier, or Business), then
  click "Get Started."
  5. Link your bank account or credit card, then click "Continue."
  6. Enter the required information, then click "Continue."
  7. In a few minutes, check your email for a message from PayPal.
  8. Click the link in the email to confirm your email address.
  9. Enter your password, then click "Confirm."
  
  You can start to use your new PayPal account right away.
  
  Otherwise you can contact our Sales department at 1-888-847-2747.
  
  Sincerely,
  Melissa
  PayPal Resolution Services
  PayPal, an eBay Company
  
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rondo 13 years ago

Brian, Thanks for reporting what Paypal has to say about this. Good info for everyone.

Andrew
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Una1 13 years ago

I was planning to open a paypal account before, but after reading so much negative feedbacks regarding Paypal services and account security I started having doubts... It seems the people here are using it pretty frequently, is it really a reliable online banking system? I see it being used in a lot of sites for money transaction, and I'll eventually be needing it to transact with foreign customers. Please share some opinion about it.
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butcher57 13 years ago

Always keep separated for every business is my opinion, it's just more easyer and you don't have to fight with paypal limits....
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- Bradley J Anderson 13 years ago
  
  Originally Posted by butcher57
  
  Always keep separated for every business is my opinion, it's just more easyer and you don't have to fight with paypal limits....
  
  Amen to that. Unfortunately, I learned it the hard way.
  
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Zanti 13 years ago

Hi Una1,

I'm sure some others will chime in. PayPal experiences run the whole gamut from great experiences to horrible. I've not had any issues with PayPal and have been using them for about 7 or 8 years I think. Although, I'm not running 25K a month through my account. At least not yet.

I did open a few other business accounts recently with PayPal.

I would suggest that you also take a look at other payment processors.

Here are a few:
2CheckOut.com
FastSpring.com
Plimus.com
Delavo.com
Nanacast.com (I think)
AcceptPay.com
UploadnSell.com
iPaymentinc.com
Moneybookers.com
Authorize.net

There's others to also chose from. Do your homework like you're doing. You can try a couple to see what works best for your business. Most have a free trial period.

Brian
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