Hello. I am the treasurer of a large engineering club at my university. We are considering using Paypal in order to accept our due payments and to fund our projects. I know that multiple RSOs (Registered Student Organizations) use PayPal in order to facilitate their funding and invoices and ordering, as it is an effective platform for this kind of thing.
I do have an issue, though. Our club has multiple elected positions that change every year, which means that every year a new person gets control of the PayPal and the bank account. In the past, this club has used PayPal for all of the funding, but since the base account was registered the name of someone that had graduated and could not be contacted, they ran into the issue of losing access to the bank and PayPal account due to security reasons. This obviously made it hard to run and fund a club with multiple projects, as a large amount of money became fully unavailable for a large amount of time.
Now that you have a little context, here is my question: Is there a way to make an account that takes this issue into account, where we can either add accounts to a base business account or something else to that effect? Or is there a way to make a business account that does not need a single person elected as the account holder, since in a year or two they will be MIA from this organization? I would be grateful for any advice on this matter, as I am trying very hard to get this solved before we start accepting payments from members.
