Hi,
I have opened a new online business (let's say- xyz.com). I want to process the payments through PayPal and want to open a business account. And it's asking me for the business name. This new online business is not yet registered.
1. I already have a personal PayPal account and I myself am registered as a sole trader with ABN (Australian Business Name).
2. I also have a Pty Ltd company registered (let's say ABC Pty Ltd) which already has an ABN (Australian Business Name) and ACN( Australian Company Name).
What options I have? or rather what's the best way to open the business PayPal account.
Should I be registering the new website (xyz.com) for Business Name linked to my own ABN and upgrade my personal PayPal account to business? And in such a scenario, would I need to open a new business bank account for xyz.com or I can transfer money to my personal bank account that has already been linked previously to my PayPal account.
OR
Should I be registering the new website (xyz.com) for Business Name linked to my existing company ( ABC Pty Ltd) ABN and open a new Paypal Business Account. In this scenario, since I guess there is a requirement that PayPal has that business name should match the bank account name, I would need to open the bank account for (xyz.com) and won't be able to use the exiting company bank account.
Any help would be appreciated.
Thanks
