account share

Ben521
Contributor
Contributor
Hi , Myself and my friends would like save some money for a a purchase but don't want to go through all hustle opening a bank account so is it possible to get an account on PayPal then share the password among us.
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kernowlass
Esteemed Advisor
Esteemed Advisor

@Ben521 

 

Firstly a personal account is in x1 persons name only and its against paypal rules to allow another person to access your personal account so this is not a workable idea.

 

However that does not mean your friends can't pay into your account using your paypal email address / mobile number if using the app OR any paypal.me link you may set up but that would be pointless really as they would need to have their own paypal account to send the money.

 

Secondly whilst you can use funds in your balance at some point you would have to add and confirm a bank account or card to that account to verify it and act as a back up funding source.

 

Thirdly if you want to withdraw the funds you would need to add and confirmed a bank account or debit card as your withdrawal source. 


Advice is voluntary.
Kudos / Solution appreciated.
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