Limited Companies & Paypal

Mprice3024 · #1 12-22-2011

Hi guys,
I formed a limited company yesterday and had my confirmation through today that its all set up.
I'm almost ready to go ahead and set up a new eBay/Paypal with the Ltd company details but a few things have got me thinking.

When setting up a Paypal account it asks for a name for the contact details. Obviously I'm not going to use my name. I will use a family members who is also a director of the company.
When lifting the limits will the process be the same as any other paypal account? Am I still going to have to confirm personal information to get the £1900 limit removed?

With it being a legit limited company obviously the account is on the businesses name rather than an individual. Who are the checks going to be done on?

Many thanks for any help

FandangoKango · #2 12-22-2011

The name of the documents your submitting to ebay and paypal must match the same name on the ebay or paypal account that is limited first and last name or else you will be limited once in for all.

oompaloompa · #3 12-23-2011

checks will be on the business and they can cross ref the directors on there, it needs to match up, this is all available info to the public.

Mprice3024 · #4 12-23-2011

I was advised that the free checks on companies house website doesn't reveal any directors info to the public. I've just done a search for my company on there and it appears this is true.

The only info it shows is the business name, address and wether the business is active or dissolved.

rsot · #5 12-23-2011

Interesting info.

Mprice3024 · #6 12-23-2011

Directors info is available from companies house but this has to be paid for. Does Paypal pay and get this extra info? To be honest I wouldn't have thought so.

Hopefully somebody that has set up a Ltd. company will chime in and tell us exactly what the steps were in order to get the limits removed

Stigger · #7 12-23-2011

i dont know why people insist on using there REAL limited company details to add to paypal and eby

its madness and could really harm your company in the long run, especially if you intend to set up a website or trade from other places around the net.

as for getting details of a limited company is not that hard

Mprice3024 · #8 12-23-2011

Quote:

Originally Posted by TizWoz

i dont know why people insist on using there REAL limited company details to add to paypal and eby

its madness and could really harm your company in the long run, especially if you intend to set up a website or trade from other places around the net.

as for getting details of a limited company is not that hard

I'm not saying its hard, but can it be done on a free check? I don't think it can.

Stigger · #9 12-23-2011

im sure it can somewhere, just need to sign up.

I know i have found out before without paying, not sure if it was hmrc i signed up to or another site but i deffo got the info on a few companys i was looking for without paying.

oompaloompa · #10 12-23-2011

gimme the company name via pm and I will give you all the directors listed, as proof.

you can pay or not pay, not the issue, assume ebay has a likkle bit of money to pay if necessary, there are subscriptions for unlimited searches!

btw a ltd company in my experience gets your limits removed automatically without ID.

Mprice3024 · #11 12-23-2011

Quote:

Originally Posted by oompaloompa

gimme the company name via pm and I will give you all the directors listed, as proof.

you can pay or not pay, not the issue, assume ebay has a likkle bit of money to pay if necessary, there are subscriptions for unlimited searches!

btw a ltd company in my experience gets your limits removed automatically without ID.

Thanks for that. Great to hear that the limits are automatically removed with a ltd company account.

oompaloompa · #12 12-23-2011

actually let me revise that, limits WERE removed on limited company but not that simple, do some buying activity to that address too, in fact Tizwoz and I were just discussing that elsewhere....otherwise anyone could just impersonate a real company that was not theirs. Act real because you are real, a manual review does the rest....another thing, never rely on any rule or method with paypal, what worked 6 months ago, may not now, be prepared......

Stigger · #13 12-24-2011

Another thing is you may be asked for your id for the director at some stage, i know i have been.

GreenBean · #14 12-24-2011

Quote:

Originally Posted by Mprice3024

Thanks for that. Great to hear that the limits are automatically removed with a ltd company account.

No. It's a case by case basis. Be careful of thinking something when it is not factual. Change that mind set now.

A limited company, regardless of being correctly created does not give carte blanche to be free of paypal's limitations.

GrannyT · #15 12-24-2011

Quote:

Originally Posted by GreenBean™

No. It's a case by case basis. Be careful of thinking something when it is not factual. Change that mind set now.

A limited company, regardless of being correctly created does not give carte blanche to be free of paypal's limitations.

Absolutely correct. If you are going to go down the route of limited company you need to get a lot more ducks in your row. This is not an easy alternative. For it to work properly and do the things you are hoping it will do you need to put a few more things in place.

I only operate with limited companies but I spend a lot of money from the get go to make it work.

Your products need to be non contreversial(sic)

I have 2 'personal' accounts and to be honest, with the set up that I am running they are more trouble than they are worth

Good advise so far from the other posters