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  #1  
Old 04-03-2019
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Default Need New Strategy

Well, PayPal does what they do best. Limit and suspend an account because of unusually high number of sales. In other words, I was punished for doing too well apparently.

At this point, I am wanting to approach this differently. It's obvious that having one long-term account is playing with fire. I want to spread out my sales across 10 or so temporary stealth accounts.

How do I do this given the new PayPal policies that require you to "claim" the money? Would I just need to have a unique bank account attached to each PayPal and make deposits? My plan is to use each PP account and discard them before the 200/20,000 limit is reached.

More specifically, my plan is to re-use bank accounts after I discard those PayPal accounts in favor of new ones. Is that possible?
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  #2  
Old 04-03-2019
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Default Re: Need New Strategy

Your not going to be able to reuse bank accounts.

You can look at getting 3/4 accounts that each are long term accounts. If one gets limited then replace it with another account. That stops you needing to have so many bank accounts
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Default Re: Need New Strategy

If I am using bank accounts for the long haul, that would require a tax ID for each PP, which I cannot provide. In order to obtain EINs, it would require me to make LLCs. I have already made 10 in the past and got burned on each one. Extremely costly.

So if I create stealth accounts and just remove the bank accounts for each before the 200/20,000 threshold is reached, I cannot link up those bank accounts to new PPs?
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Old 04-03-2019
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Default Re: Need New Strategy

You cannot reuse bank accounts. It would just get the accounts linked and limited.
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Old 04-03-2019
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Default Re: Need New Strategy

Not sure I am explaining this properly.

What I would do is use a stealth PayPal account and then attach a bank account to it. I would be using this to make deposits to the bank account before I reach the 200/20,000 threshold. Once this occurs, I would remove the bank from the stealth PayPal account and then likely close it out. This asserts that the account is in good standing.

After that, the bank account would not be on file with an active PayPal account. So I would attach the bank account to a brand new stealth account.
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Old 04-03-2019
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Default Re: Need New Strategy

Thats silly....If youre making LLCs then you can open business bank accounts....
Provide them with the EINs to keep the cashflow going...Unless youre doing this to avoid Taxes?? Thats the only thing I see this coming too? Am I wrong?

Also, as James said, Paypals mechanics will NOT allow you to reuse bank accounts.
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  #7  
Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by supdawg1985 View Post
Not sure I am explaining this properly.

What I would do is use a stealth PayPal account and then attach a bank account to it. I would be using this to make deposits to the bank account before I reach the 200/20,000 threshold. Once this occurs, I would remove the bank from the stealth PayPal account and then likely close it out. This asserts that the account is in good standing.

After that, the bank account would not be on file with an active PayPal account. So I would attach the bank account to a brand new stealth account.


That's actually a really good question.

I have had 2 of my newly set up stealth ebay accounts go down without any explanation even before listing an item (may be a bad choice of address ?) I don't know.

But i'm gutted my bank accounts associated with the paypals can not be used.

Having said that ... the paypals were in good standing. I removed the bank accounts, VCC, and closed the paypals on both of the suspended ebays.

Could I therefore attach the banks to a fresh paypal without any links, any one done this ?
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Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by BigCJ View Post
Thats silly....If youre making LLCs then you can open business bank accounts....
Provide them with the EINs to keep the cashflow going...Unless youre doing this to avoid Taxes?? Thats the only thing I see this coming too? Am I wrong?

Also, as James said, Paypals mechanics will NOT allow you to reuse bank accounts.
I created 10 LLCs last year and they were all wiped away by PayPal eventually. They all got limited because apparently I was making too many sales and the fact that I was dropshipping made them think the accounts were too risky to allow me to continue. This just happened today, even though I provided hundreds of tracking numbers. And that was with an account several years old!

This is just a matter of being cost effective. Not really in a position to scrounge up $5000 for 10 new LLCs....just to see the accounts get limited for some cockamamie reason. I was annihilated last year and I won't make the same mistakes again.
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  #9  
Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by supdawg1985 View Post
Not sure I am explaining this properly.

What I would do is use a stealth PayPal account and then attach a bank account to it. I would be using this to make deposits to the bank account before I reach the 200/20,000 threshold. Once this occurs, I would remove the bank from the stealth PayPal account and then likely close it out. This asserts that the account is in good standing.

After that, the bank account would not be on file with an active PayPal account. So I would attach the bank account to a brand new stealth account.
Doesnt matter how you explain it, you still cannot reuse bank accounts.
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  #10  
Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by james_112233 View Post
That's actually a really good question.

I have had 2 of my newly set up stealth ebay accounts go down without any explanation even before listing an item (may be a bad choice of address ?) I don't know.

But i'm gutted my bank accounts associated with the paypals can not be used.

Having said that ... the paypals were in good standing. I removed the bank accounts, VCC, and closed the paypals on both of the suspended ebays.

Could I therefore attach the banks to a fresh paypal without any links, any one done this ?
PayPal will simply not allow a bank account to be used more than once
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  #11  
Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by JamesNorth101 View Post
PayPal will simply not allow a bank account to be used more than once
Okay, because I was reading previous threads on the site that claimed the contrary, so was wanting clarification.

I did not realize that they keep all bank accounts on record, even when they are no longer being used.
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  #12  
Old 04-03-2019
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Default Re: Need New Strategy

PayPal always keep details

There used be to talk of people adding the same account using different formats, and that may well still work, but its just naive to thing that if you get close to hitting the tax limit, close the account remove the bank account and then reuse the same account that PayPal wont be aware what your doing and limit the account. Its just not a good strategy and great as it would be if it could work.
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Old 04-03-2019
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Default Re: Need New Strategy

Obviously I realize PayPal would be leery if they caught on to this fact, I just had read in places that bank accounts not attached to an active PayPal would no longer be on record.

Well that pretty much puts me in a dead-end situation, especially since they do not allow sending or spending money in the balance any longer without a SSN.
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  #14  
Old 04-03-2019
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Default Re: Need New Strategy

it is not hard to open 100 new bank accounts next week. USA has more than 10,000 registered banks. Come on now, stop belly aching about banks in the USA. It is a non issue for anyone, even people with check systems problems can open bank accounts if they try.
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Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by yankee View Post
it is not hard to open 100 new bank accounts next week. USA has more than 10,000 registered banks. Come on now, stop belly aching about banks in the USA. It is a non issue for anyone, even people with check systems problems can open bank accounts if they try.
Just seems very impractical. I would pretty much have to open 10 new bank accounts every month, many with the same bank...with the intention of closing them out soon after. Not sure banks, when they eventually catch on, will not take issue with that.
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Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by supdawg1985 View Post
Just seems very impractical. I would pretty much have to open 10 new bank accounts every month, many with the same bank...with the intention of closing them out soon after. Not sure banks, when they eventually catch on, will not take issue with that.
why the same bank? 10,000 banks in the USA.

Walk into one bank.
Open a business checking, add two business savings.
Open personal checking and two savings.

Dude, what the heck is hard about that?

Do that at 10,000 banks and you have 60,000 accounts. Never mind that you can have multiple checking and savings accounts at each.

In all reality, you are doing something wrong if you are burning through 10 EIN accounts a year. I run hundreds of thousands a dollars over tens of thousands of sales on EIN accounts the first year. If I can do it, you can to. It has NOTHING to do with selling to much on a real EIN accounts. It has to be about what you are doing and/or selling.


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  #17  
Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by yankee View Post
It has to be about what you are doing and/or selling.


Agreed. Probably a mix of dropshipping and business practices. There are people out here doing big number without PP limiting them for the reason you gave.
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Old 04-03-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by yankee View Post
why the same bank? 10,000 banks in the USA.

Walk into one bank.
Open a business checking, add two business savings.
Open personal checking and two savings.

Dude, what the heck is hard about that?

Do that at 10,000 banks and you have 60,000 accounts. Never mind that you can have multiple checking and savings accounts at each.

In all reality, you are doing something wrong if you are burning through 10 EIN accounts a year. I run hundreds of thousands a dollars over tens of thousands of sales on EIN accounts the first year. If I can do it, you can to. It has NOTHING to do with selling to much on a real EIN accounts. It has to be about what you are doing and/or selling.


10,000 banks in the country maybe, but not in my town. The only factor mentioned that makes this feasible and sustainable is to add savings accounts to my already existing banks.

I burned through EINs for a variety of reasons. One is the fact that my supplier was suddenly not shipping products over Christmas. Another was somehow triggering reviews when withdrawing from PayPal. Any review inevitably led to a limitation regardless of my providing the required documents.

Recently, with a 2-3 year old business account, it was limited and banned after making a couple hundred sales or so over the course of a week. I was dropshipping but provided all of the tracking numbers. Still, ended up with a review due to "unusual activity". Code for "selling too much". After explaining my business practice of buying products from Amazon, they regarded the account as too risky and just shut it down lickety-split.

The thing is, I could legitimately make $1000+/day if PayPal would just stay the Hell out of my way.
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Old 04-03-2019
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Default Re: Need New Strategy

paypal stealth is a joke nowadays.

would recommend finding another payment gateway to link to ebay

like authorize.net

or try the new adyen payment gateway when they are fully functional in usa.

having to go through all that work of creating LLCs and bank accounts all to have it limited for little to nothing at the end of the day after taxes, and luckily 30-40 percent profit margins........leaves you with little to be desired.....

Last edited by H4ck; 04-03-2019 at 08:17 PM.
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  #20  
Old 04-04-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by supdawg1985 View Post
After explaining my business practice of buying products from Amazon, they regarded the account as too risky and just shut it down lickety-split.
Unfortunately, this is not working anymore for ebay or paypal. This is an area I have no advice.

On a side note, you can open bank accounts online at almost any banks. I opened one 2300 from me last week up on the Quebec Canada border. I did have to answer a couple questions via email. So far, only one small credit union in TN would not allow me to open a checking account without going in.

I set these up for my wholesale buyers to transfer funds or make cash deposits. It is easiest for them and faster for me if I set up accounts at local banks they already do business with.

Just food for thought.
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  #21  
Old 04-04-2019
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Default Re: Need New Strategy

Quote:
Originally Posted by H4ck View Post
would recommend finding another payment gateway to link to ebay

like authorize.net

Not an option anymore.
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  #22  
Old 04-04-2019
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Default Re: Need New Strategy

Sounds like you're going balls to the wall, right out of the gate. Try gradually increasing your sales, instead of doing a couple hundred per week right off the bat!
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