Hi
We are UK based and moving in to premises shortly to upscale our vegan toffee production business. We have raised most of the capital we need but we are a few thousand short of our start up costs. Friends, family and customers want to chip in to help us, as many hands make light work.
We have looked in to PayPal.Me and Money Pools and note that we can't accept money to our personal PayPal accounts if it is for a commercial use, and that Money Pool is not available to business customers. We've started to read the small print for setting up a business PayPal.Me and worry that we'd be violating PayPal terms and conditions by doing this, as the only goods and service we'd be providing is nothing more than kudos and gratitude, or returning their money later.
We are members of the Federation of Small Businesses and I contacted their legal helpline recently to ask if it's ok to ask people for money towards your business and it's fine - anyone can chose to give us money and we can chose to receive it. But the question is how? Would it be acceptable to set up a business PayPal.Me or is there anything else we can do that would allow someone to just hit a button if they want to transfer money to us?
Many thanks
Lesley Jeavons
