How to remove a beneficial owner and time duration for a name change on the account to occur?

Thecityboy1
Contributor
Contributor

Good Day PayPal Community,

 

I hope all is well with you?

 

I am experiencing two issues.

 

Issue 1: Name Change

 

My name was spelt incorrectly during the time of the account being set up. I have changed it and followed PayPal's guidelines of adding my photo id: proof of name. I have done this two days ago and yesterday. Once sent on both days, PayPal stated that they have successfully received these documents. Do you all know how long it will take for the change to occur?

 

Issue 2: Removing a Beneficial Owner

 

Currently, as this PayPal account has reached the account freeholds, PayPal has placed some limitations on the account which is understandable, in order to gain more information of the people who hold the account. I have accidently added another person as a beneficial owner. PayPal states that to be eligible to be a beneficial owner, one has to have at least 25% or more ownership of the company. The person in question has roughly 20% ownership. I have completed the rest of the tasks required for the account to be verified but this part. I need to remove the beneficial owner who has less than 25% ownership of the company.

 

Does anyone know how to go about this?

 

I have tried emailing service paypal .com and they led me to the help centre but the help centre does not help in this aspect. I tried one of PayPal's other emails and they said they will respond within 24 hours. 

 

What do you all suggest?

 

Thank you for having the time to read my post

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2 REPLIES 2

ralawieh
New Community Member

Hey! Did you find a solution?

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John88888
New Community Member

I have the same issue.

I dutifully filled in two beneficial owners. Then paypal went to the company register and automatically added two more - THE SAME ONEs. Oh dear, now I have four, its wrong, I can't proceed. Can't edit them without defining them, can't define them because the share % exceed 100 when I do, can't enter a zero share percent.

This is a serious issue, really bumming me out. I can't resume paying our google adds without this resolved, because if not resolved, google won't accept another source of funds.

Any suggestions anyone. Is there an actual person in paypal anywhere who can help? Can I visit their office?

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