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Receiving money from sellers... Safe?
 

Here is my scenario: I handle sales for a supplier from HK and I have about 10 sellers selling directly for me. I don't sell using this PayPal account, but I do receive funds from the sellers and then forward to the supplier. All via PayPal. Each of my sellers sends about $500 to $1000 per transaction (almost everyday). This is my stealth PayPal account, fully verified, all limits removed, good history, almost 3 yrs old.

Is it good for me to continue receiving payments from my sellers? Or should I get them to pay my supplier directly? Or should I get them to make a bank wire or WU payment to me and then forward the payment to my supplier? Or should I receive the payments via PayPal, withdraw to bank and then send payment via bank?

In the first place, is it even good to keep receiving money from others, like this?

Any advice would be really helpful!

PS: I have other stealth accounts that are not linked in any way.

If you can operate your business without Paypal than I'd absolutely go in another direction with receiving your funds.

You just never know when Paypal is going to limit your account and freeze your funds, it looks like everything is running well but if I could get funds without Paypal and keep sales the same ADIOS Paypal

Where is your back up plan for a limitation?

I see none

Method is flawed

:nono:

That's what I was hoping to find from any advice given. :confused:

What I was considering is to set up a Merchant account to receive payments from my sellers (they could pay directly from paypal through a website interface?) and bypass having to receive funds on paypal entirely. Is this any good?

I do have 3 business pp accounts (no ebay linked, and not linked to each other) as a standby, in case something happens to my main pp account.

If you can use another method that does not involve PP, I would go for that.

I would use a merchant account. I am in the US, but from experience I can tell you that if a merchant account provider has a problem with you, they will at least talk to you about it and give you a chance to explain the situation. If they decide to cut ties, they will usually give you 30 days notice so that you can find another provider.

PayPal just locks down the account, refuses to discuss it and keeps your money for 180 days. NEVER keep more money in PayPal than you can afford to send on a six month vacation.

On the plus side, if you have been doing this for 3 years and PayPal has not limited you yet, you COULD be OK. Just keep in mind that PayPal can impose limits or freeze your account at any time. This has happened on accounts that were 10 years old, so you are never totally safe.

If it were ME, I would get a merchant account and let my buyers know that they could pay by credit card directly. I wouldn't force them to stop using PayPal - I would try to avoid any business interruption. This would give me stability, since if PayPal shut me down, I still have other ways to accept payments.

Western Union is relatively safe to receive money, but it is also a pain in the you-know-what. At least here in the US, where to send $1 you need a driver's license, SSN, DNA samples, fingerprints and 3 witnesses.

If you have your buyers pay your supplier directly, then what do they need you for?

Depending on your operations in the UK, I suggest you look at NOCHEX or sagepay.

You may need your own website for Nochex or even sagepay. But that in itself may be better for your business.

Integration with paypal could happen.

Yea right. If you give your buyers the supplier they will cut you out so becareful doing that idea not very wise

Dont let these other sellers trump your flow.

Make few backup pp's - I would use a separate source to pay your own supplier. Dont let the lines of revenue and expense be linked to each other - too easy for PP to misread the situation

Dont let them get access to your supplier. You will be cut off from your own source of funds.

:nono: