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Receiving payment under a different name?

Discussion in 'Payment Processing' started by Finalhazardark, May 7, 2019.

  1. #1
    Ok so I'm going to be completely blunt on this. I am an artist who creates what is borderline porn. Recently I've been thinking of opening commissions to pick up some extra cash, however I don't really want it to be under my real name.
    SEMrush
    At first I had the idea of opening a new paypal account under a fake name as I don't really want my real name to be associated with it. I would collect the money I made on the new 'fake' account and then transfer it to my real account but looking in some other posts on this site, many people have described that as fraud of which is quite a scary concept considering my intentions.

    The more I'm thinking of it the more I think there is no way around it, or rather if there is a way it shouldn't even be attempted and I get that, I'm thinking if I really want to do this i'll just have to swallow my pride and use my real account but I guess the main reason I made this thread was to ask is there any legal way to do what i'm asking or is it just way to risky/ illegal?
     
    Finalhazardark, May 7, 2019 IP
    SEMrush
  2. jestep

    jestep Prominent Member Premium Member

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    #2
    I can't speak of the laws in your country, but at least in the US, you can operate under any name you want provided the point of using than name isn't for fraud. So, I can basically call myself whatever I want and it's legal and I can do business under that name as long as I didn't change my name to defraud someone. I believe there are also legal ways to register a Pen Name which is something authors routinely do, which makes it easier to open bank accounts or other financial tools with, since it establishes a formally recognized usage for the name. Since you're going to be dealing with banking/payment processing, that's the route I would go.

    A few things to be aware of, Paypal has fairly strict restrictions on the types of products you can sell. Make sure your products are within their T&S or they'll shut your account down. Second, they only allow a person to have 1 business account. You can have a personal account as well, but only 1 business account per person. Finally, if you do set this up and sweep transactions to your personal account, make sure you can cover costs if you have a disputed transaction. They will shut down both accounts and ban you if you can't cover disputes in your business account but are sweeping money to your personal one.
     
    jestep, May 7, 2019 IP