Hello, I am sure this is answered somewhere but I couldn't find exact explanations, so here it goes again with my apologies: I have a Premier Paypal account and I am in North America. I do NOT want my personal name to appear but rather a business name and also I will show my logo on the payment page so its better for marketing reasons. However, I have not registered a company and don't feel it's worth it. Can I: a) Upgrade to a Business account without an official registered company??? I'll just make up a name , e.g. Sammy Solutions LLC, or something. Maybe even drop the LLC or Inc part? I do not want paypal to stop my service while they ask me to fax documents that I don't have etc. It's ok if I pay slightly higher fees! Except fees, is there any other inconvenience or "drawback" to having a Business account as opposed to a Premier? TIA ! -K
Fees for both the Premier and Business accounts are the same. You will need a registered company or business if you want to operate with a business name for a paypal account because they are known to ask for corporate information and withdrawal would need to be done to a bank account with that business name. You might get into problem when that happens. If you operate with a ficticious company name that you might be misrepresenting yourself and that may lead to some legal consequences in your state. You could however register as a Sole Proprietor or Doing Business As (DBA) by registering at your local Chamber of Commerce. If you want some anonymity, perhaps you could consider signing up for a Plimus.com or 2checkout.com accounts which allows you to show your company's name and still accept payment from both credit cards and paypal. The fees would be substantially higher but you should not have any problem doing what you want with it. With Plimus, you can receive your monthly earnings into your paypal account.