More than 1 Business Account

[PalmSmith]

Hi,

This has been asked more than once I'm sure, but there is conflicting information regarding it from contributors in this forum. So, can someone give me the definittive answer?

Can I have more than 1 Business Account for separate companies? 

I currently have 1 Business Account, but I'm starting a new company and would like to register a new separate Busincess Account solely for the use of this new company.

This new company will have its own name, new bank account, new email, etc. different from the Business Account I already have registered.

1. According to user "snowshoe", this can be done (have more than 1 Business Account to be used for separate companies).

https://www.paypal-community.com/t5/About-Settings-Archive/Multiple-PayPal-Accounts/m-p/741803

https://www.paypal-community.com/t5/About-Business-Archive/Can-I-have-more-than-one-business-account...

2. According to user "kernowlass" this is not allowed.

https://www.paypal-community.com/t5/About-Settings/how-do-you-set-up-multiple-accounts/m-p/953965

So who is right? I've seen a lot of people having multiple business accounts, but I want to make sure I'm not breaking any rules.

[kernowlass]

@PalmSmith

From paypals help pages >>>

Can I have multiple PayPal accounts?

Yes. You can have one Consumer (personal account) and one  Business account. You can add more email addresses, debit or credit cards, and bank accounts to your account, but each account must have its own email address and financial information. You can also upgrade your Consumer account to a Business account.

[PalmSmith]

Why is user snowshoe under the impression that you may be able to do so though? I'd think that should have some root in experience?

Also from the Paypal User Agreement:

"2.2 Personal and Business Accounts. We offer the following types of Accounts: Personal and Business Accounts. Unless otherwise agreed, you may hold not more than one Personal Account and one Business Account. Holders of certain Personal Accounts may be required to upgrade their accounts (which may include providing further information to PayPal) in order to use all of the current functionality available in a Personal Account. By opening a Business Account and accepting the terms as outlined in this Agreement, you attest that you are not establishing the Account primarily for personal, family, or household purposes. You agree that your Account comprises the Payment Account and the Reserve Account."

So it seems there are circumstances in which you may be able to hold more accounts than the standard 1 Personal and 1 Business acount. If that holds true, then what are those circumstances? I would think what snowshoe is getting at is that if you meet the conditions of having a separate bank account, etc. for a separate company you may be able to have an extra Business Account.

There's a lot of misinformation out there I think, and it honestly makes little sense to 1) Prevent separate companies from having their own Business Account. 2) Make you hold multiple businesses under the same account, that's a liability and accounting nightmare I would think.

In any case, thanks for the help and clarification that may be provided.

[PalmSmith]

Hi again,

Just in case I just called Paypal and asked this very question and they told me it would be perfectly find to start a new Business Account for the new company with its own email and bank account.

Thanks for the help again, it's appreciated.