How to split income with partner using paypal. Different countries

Hi folks,

I'm in India while my biz partner is in the US.

Is there any way I can use paypal or any other payment processor to automatically
split incoming payments 50-50% to our respective accounts?

Or could I set up a separate paypal account for our business and then use it
to transfer half the money to my bank account (in india) and half to his.

Is this legal and allowed by paypal?


Please advice,

Thanks,
anions

 

You could have a paypal account which you both have access to and then manually transfer 50% into your personal paypal accounts each. This allows you each to see all the transactions and so not fear that one may be ripping the other off but of cause the password could be changed by one and thus locking the other out.

 

The issue is not of trust. I don't fear him ripping me off - I just want to make the process more convenient.


Also, if I already have an account, can I create another paypal account (can we have multiple accounts?)

Also, if he creates a US based account, will I be able to transfer money directly to my Indian bank from it (i dont want to lose money on multiple transfers to paypal accounts)

 

Yes,Paypal allows 2 accounts(personal & premier/business) per person

 

Maybe you can apply for a PayPal business account from within the India. As you said, your partner is in United States so creating another business account from India should not be a problem.

Paypal allows everyone to create two accounts (one personal and other premier/business).

Hope this helps.

 

Yes, but how will he transfer money to his bank account if I create an Indian business account.

 

That way you both will have your country's respective PayPal accounts.

Can't you guys just take half payments on each PayPal?

 

Yea thats a good idea, we thought of that but wanna avoid wire transfer.

yea, but we dont want to lose another 3% on stupid paypal fees. As it is, paypal gives me rs 2 less per dollar (in addition to the 3%).

 

Then Wire transfer is the best option in my opinion. Any specific reason you want to avoid wire or is that just the fees?

Regards

 

there is a site called xoom.com you can try that as well.. they will do transfer free of charge for $1500 bankwire amount

 

I think this is possible as i have personally used it, one account accessed from two countries. France and Germany.

The only problem i faced was in the very initial when they asked me for documents, after then there was no problem until now. I access my paypal account from both countries. I don't know whether it would work between India and US as well or not, but here with me it works fine without any problem.

 

Reason behind that is you logged in from Europe and they still asked for the documents.

I too don' think it's gonna work unless you tell PayPal that you are the same person who travels between US & India frequently.

 

Yes that may be the most suitable reason. In the initial they asked me for documents, and after then everything was crystal clear for me, in some cases, i accessed the same account from the countries at the same day.


But i never discussed with PayPal that i am going to access it from two countries, i guess, when your account is been verified by providing them the document's then they don't care for the ip's, that's my personal opinion, because i know several guys who access their paypal accounts from even non-supported countries, while their Paypal accounts are been verified with documents.


When Paypal is assured that you have provided the documents and your account is been verified at all aspects, the you shouldn't be worried about the IP address problem, ya off course you must take care of it, but must not be worried.

 

An other solution is to programmatically split the incoming orders in your program.

The first order goes to you, the second to him, the 3the to you ...

In this case you should have some logging in your application.

 

Hi Frndz


BilltoMobile has announced an agreement to provide Sprint customers the ability to charge online purchases directly to their Sprint bill using BilltoMobile’s Direct Mobile Billing technology. This makes BilltoMobile the first mobile payments company to establish a direct billing connection to Sprint as well as the only mobile payments company to have a direct billing connection to with three major U.S. carriers (AT&T, Verizon, and Sprint).

 

To avoid unnecessary fees and complications, Your partner can withdraw pp money to his us bank, and then he xoom it (online with his bank card) to your bank. The nice thing is he withdraws to the same currency, and when Xoom credits you directly to your bank account in India with good conversion(they offer good rates.) may be this is the possible way.



Tnx SL//


##