Do you think this is a good tactic?

[Fishermanzz2]

So I sell high risk items on eBay. If the item gets removed, the PayPal is banned. Do you think it's a good tactic to keep making these and eventually I'll be getting money every few days or so after the six months have passed? Or would I have issues withdrawing?

[tom191]

Originally Posted by Fishermanzz2

So I sell high risk items on eBay. If the item gets removed, the PayPal is banned. Do you think it's a good tactic to keep making these and eventually I'll be getting money every few days or so after the six months have passed? Or would I have issues withdrawing?

I think you might have an issue getting your money out of all those accounts but I don't really know as I haven't done it on the scale your talking about. I will say this as an alternative.

Set up a paypal business account. If you can't get your own EIN to do it buy a paypal business account already set up. Then set up a legitimate business in any state. Florida is simple because you can do it all online in 20 minutes and it only costs about 120.00.

Then log into the paypal account and add the business name and wait a month. Then call paypal and tell them that you sell high risk items on ebay and don't want to get penalized and ask if they can set the account up on a rolling reserve so that you don't jeopardize your relationship with paypal and don't get your account closed.

I have several paypal accounts set up this way. I have 15% 90 day rolling reserves on them and no matter what happens on eBays side my paypal accounts stay.

With the business being registered you can validate all the information that paypal will ask you for. Makes sure to use the EIN the paypal account was set up with when you register the business and it is very helpful if you have another business be the registered agent of the business that your setting up then put yourself or someone whos ID you have as a registered agent of the business your setting up.

Paypal will ask you for that information and you can provide it. They wont as for your SSN because they have your EIN.

Last but not lest - PAY THE TAXES FOR THE BUSINESS.

I have one of my paypal accounts I have had for 7 years and I too sell in a very high risk category and have had many listings removed for violations. Paypal doesn't care much. If it gets bad they will simply raise your reserve rate up to compensate.

[slokor]

Youre talking about creating a LOT of bank accounts for this purpose which might have an impact on your credit record.
On top of that theres no guarantee youll get your funds out after 180 days without any issues.

[Fishermanzz2]

Originally Posted by tom191

I think you might have an issue getting your money out of all those accounts but I don't really know as I haven't done it on the scale your talking about. I will say this as an alternative.

Set up a paypal business account. If you can't get your own EIN to do it buy a paypal business account already set up. Then set up a legitimate business in any state. Florida is simple because you can do it all online in 20 minutes and it only costs about 120.00.

Then log into the paypal account and add the business name and wait a month. Then call paypal and tell them that you sell high risk items on ebay and don't want to get penalized and ask if they can set the account up on a rolling reserve so that you don't jeopardize your relationship with paypal and don't get your account closed.

I have several paypal accounts set up this way. I have 15% 90 day rolling reserves on them and no matter what happens on eBays side my paypal accounts stay.

With the business being registered you can validate all the information that paypal will ask you for. Makes sure to use the EIN the paypal account was set up with when you register the business and it is very helpful if you have another business be the registered agent of the business that your setting up then put yourself or someone whos ID you have as a registered agent of the business your setting up.

Paypal will ask you for that information and you can provide it. They wont as for your SSN because they have your EIN.

Last but not lest - PAY THE TAXES FOR THE BUSINESS.

I have one of my paypal accounts I have had for 7 years and I too sell in a very high risk category and have had many listings removed for violations. Paypal doesn't care much. If it gets bad they will simply raise your reserve rate up to compensate.

I thought ID wasn't required to withdraw after 180 though? Just withdraw to bank account.

Do you know any good business PayPal sellers?

Thank you for the business PayPal ideas. But my items violate PayPal's TOS. Will your method still work?

How does the rolling reserves work? Do I get fined 15% every 90 days or something?

Will I be required to give ID to business PayPal at all?

[Fishermanzz2]

Originally Posted by slokor

Youre talking about creating a LOT of bank accounts for this purpose which might have an impact on your credit record.
On top of that theres no guarantee youll get your funds out after 180 days without any issues.

Not too worried about my credit because it's in the 700s and never had a problem. And I thought no ID was required just withdrawal to bank account?

[nickopedia]

Make sure you ask whatever bank you choose if they pull your credit. Yes, many of the big banks DO full chedit check even just to open a Checking/Savings account, but most of the time it's just a soft pull to verify your identity. Chex Systems tho might flag u if they get so many opening inquiries in too short a period of time.

[Fishermanzz2]

Originally Posted by nickopedia

Make sure you ask whatever bank you choose if they pull your credit. Yes, many of the big banks DO full chedit check even just to open a Checking/Savings account, but most of the time it's just a soft pull to verify your identity. Chex Systems tho might flag u if they get so many opening inquiries in too short a period of time.

What about a virtual bank?