I co-run a small special interest forum and we have a Classified advert section where we charge a few quid for an advert. The annual income is maybe a few hundred quid and it is ridiculous to have to set up a bank account for it.
Is it possible to do this and what are the current limits on the operation of the account in the UK?
I vaguely recall there is a limit of something like £1000 but does this mean that you can receive more provided you keep spending it (by paying for stuff using paypal payments)? For example the money in the Paypal account could be used to pay towards the web hosting for the site.
One small detail is that we occassionally get chargebacks. This is because a certain % of people are simply nasty and if they place an advert and the item doesn't sell they do a fake "payment not authorised" chargeback, which of course Paypal implements immediately (customer is always right). I've been a Paypal user for at least 10 years so I know how it works 🙂 This is not a problem because the amounts are so small anyway, but I don't want the account to be killed off if a few of these take place and I don't waste my time corresponding with the Paypal computer about it. Is there some account blocking action if there have been some number of chargebacks which the "vendor" didn't bother to counter?
Many thanks in advance for any answers.
