I have an issue where I have an existing PayPal Business account and linked bank account, which has been in place for several years. Recently we have opened a new company business under the group name, which is essentially it's own arm and a separate registered company with its own bank account. The new company sales are processed through Shopify, as it is a web-based company.
As it stands all money from company PP sales goes to my existing PP account, and as such this causes a headache for our accounts department as money from this account has to be moved to the other company, and it becomes a mess when you consider fees and the fact the account is also used for purchasing items.
What I really need is to be able to open a new PP account for the new company with its own bank account, but with my details as the business owner. I understand PP does not allow you to do this? An alternative would be that two separate bank accounts could be added to the existing PP account and when payment is received through either of the two companies the payment is automatically directed to the correct bank account. You would think this would be achievable when payments from the new company come through Shopify?
I can't find an easy answer to this, as we do not have any other directors for the new company. Any advice would be appreciated.
Regards,
Jeff
