paypal business accounts

Been a really, really long time since I opened my PP Business account but I don't recall any document hoops at all.

You have to enter a SS# or other tax identifier.

Their is no necessary of business docs for opening a business PayPal account. But if something wrong with your account and they ask for your business docs, then it will really mess up the things for you and your PayPal account will banned or get limited. So, My opinion is be genuine with PayPal and follow their terms and Guidelines. Which will help you to maintain a healthy PayPal account.

You can still continue using your business paypal account to receive money from your customers and withdraw money to your bank (provided that your account is verified), even if you have no documents to present initially. BUT if your paypal account gets compromised, you will be asked by paypal to present such documents for verification. No documents to show = banning of your account.

Business accounts are only meant for businesses. This would mean you are a legal business and have a business name and tax number for that business. They sure do ask for proof of this.

Paypal does have different conditions/requirements for different countries. Don't know where you're from, but you might want to let us know in order to get feedback from folks in your country.

Am from nigeria. What about nigeria

As long as you don't have a problem with PayPal, they may not ask. But it's better to have a valid business and provide the correct info. When your account is compromised, it may be very big deal for you.

I setup up a business account and they didn't ask to fill out documents, but i think i had to put in social security number.

The paypal is a leading online money transferring system. There are so many countries who are not able to use the Paypal. Sometimes I Paypal checked one identity by various way. So I think you should always be true. Because if any time Paypal ask you to submit the necessary docs, but you failed, during that time your account will be blocked & Balance will be forfeitures. One of my friends whose account has been blocked & balance also forfeitures. Due to not submit the necessary docs.

If you do not have a business open a personal account. Business accounts pay taxes.

A PayPal business acct in my experience works just like all the others, only it enables you to do business using a business name instead of your name. Fees are basically the same for all accts types last I checked. I have never been asked for biz docs of any kind. I just set-up another one about a month ago and didn't even include a tax id # or social. My advice is not to include a tax id # or social unless you really have to. Don't give PayPal more info than they need. I'm in the U.S. and all I had to do is verify bank acct (to lift limits & withdraw) or you could just add a credit/debit card if you just want to lift send/receive limits. Note: Rules may be different for different countries.

You can still run a business as a sole trader which means your tax number is the same you use for your personal income tax. You can register a business account that way so long as you are conducting business.

They don't ask for any documents. They just ask for your business name and URL and nothing else.

Hi
Paypal has different regulation for different countries. I am from India. Here I have to submit my PAN no. ( permanent account no ) which is needed for submitting tax details. But you cannot send money from your paypal balance as any money you receive will directly go to your bank account auto withdraw which is as per rule.
I think you can write/ talk to paypal rep.
Hope that helps. With best of luck
Parg

Yes, you should have a real business. When there is a problem... (And if you do any real volume in sales there will be.)

Be prepared to give all that information, and in some cases a great deal more.

The first time I did $30k in 3 days they asked for my life's history it felt like.

They had a few questions when it got to $400k... in a certain date range... forget what it was.

Then they added a reserve...

Then about 6 months later they lowered the reserve...

Then 1 year later they removed it...

But my refund rate was like less then 1%... yeah surprised me to, seeing as how you normally have a certain percentage of people that refund just to refund

Then they made it a managed account. Now I don't know if they still do managed accounts or what, because I never call there. The one time I did, I didn't even realize I was a managed account, until their phone system directs you to your management team. But, a managed account was a good thing.

Was funny because I was on the phone with Bryan Zimmerman from JVZoo at the time, and go wtf is this managed crap? LOL... Dude! That is a good thing...

But after the first load of info they ask for, if you keep the refund/dispute rate very low... you won't have an issue.

But I see that some people have more issues then others. But that was my story...

Besides a Tax ID number you do not need any other documents. Unless they think your account is suspicious and then they will ask for proof of address ect.