I want to open up a website to sell jewelry. I already created a business account with paypal, and they didn't ask for bank account information (I tied my paypal account to a visagift card when I set it up as a personal account), but that may have been because I (accidentally) signed up as a nonprofit. My friend told me even once I switched the status to a sole proprietorship to avoid registering as a nonprofit with the IRS, I would still have to get a bank account because paypal doesn't process credit card payments without a bank account. Does anyone know if that's true?
