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can you transfer paypal account to new person?

by ankur sharma
8 replies
Here's the scenerio. I am going to launch membership site. There will be certain number of paid members. They will pay certain amount per month. Probably less than $10 per month.

If i decide to sell whole business after year or two. I wonder, how i will be able to transfer whole stuff to new owner. I mean, if the new owner will use his paypal id. I bet, all the members will have to cancel their subscription and then join the website again. Whats the solution for this?

Thanks
#account #paypal #person #transfer
  • Profile picture of the author Brian E Adams
    I would discuss this situation with Paypal directly. They will run into this situation many times. Just speak with their customer service.

    I would think each paying customer would need to give approval in the transfer. You may need to provide much documentation to Paypal regarding the business transfer, etc.
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    • Profile picture of the author johnny_h
      Yeah, you definitely can't just transfer your entire account to someone else. You may need to do something like offer a free month to the members so that they feel comfortable accepting a new recurring payment from the buyer. I would imagine you'd lose a number of people who were uncomfortable with changing their arrangements without some kind of incentive...
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      • Profile picture of the author Dan C. Rinnert
        One possibility might be to form a company (LLC, S-Corp, Corp, whatever) for the website. Then, open the PayPal account for the company's bank account.

        Then, when you sell, sell the company along with the website.

        That way, ownership of the PayPal account remains the same because the company still owns it and it is the company being sold.

        Of course, check with a lawyer and/or accountant about all that stuff first.
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    • Profile picture of the author HelpingYouBeAnExpert
      I would ask them but my guess is no but ask them
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      • Profile picture of the author Dixiebelle
        Like beadams said - take it up with Paypal. Here's their number:

        1-866-221-1161
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  • Profile picture of the author ankur sharma
    yeah, i guess paypal should help me out. I hope someone know the answer here.
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  • Profile picture of the author GarrieWilson
    I did. I pretended like it was a business name change.

    You have to fillout some paperwork but it's do able.

    Garrie
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  • Profile picture of the author CMartin
    Originally Posted by ankur sharma View Post

    If i decide to sell whole business after year or two. I wonder, how i will be able to transfer whole stuff to new owner. I mean, if the new owner will use his paypal id. I bet, all the members will have to cancel their subscription and then join the website again. Whats the solution for this?
    Have you thought on using ClickBank instead of PayPal? ClickBank accounts should be less difficult to transfer ownership and they provide also recurring subscriptions.

    Carlos
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