Concerned about potential limitation

effortless223 · #1 03-12-2012

Hey guys,

I thought I'd run this by the experts and i'm getting increasingly concerned about this.

I was locked out of paypal for a negative balance a long time ago, which was paid to the debt collectors but the account has since been locked ever since (I was under 18 when I made this account)

Shortly after I opened a stealth account which I have been using fine ever since, but it is under a different name and Date of Birth (but uses my new bank account, my new address, my details on eBay). We're talking 4 years of using this account to Premier verified status.

I've since opened a business and declared a little of what was in that PayPal for tax, paid said tax but this years tax will include a lot of activity from the PayPal account.

I'd like to call up PayPal and give them my real name and date of birth, but I'm concerned I'll be limited thanks to the old issues. I'd also like to change the account to a business account. If I don't do this, I'm worried the taxman will knock and ask why I use a different name on my PayPal account.

What would you do in this situation? What would you recommend I do? I can't remember the date of birth i gave in the original locked account but it wouldn't be my current because i was under 18,
Thanks for any help!

Stigger · #2 03-13-2012

Quote:

Originally Posted by effortless223

Hey guys,

I thought I'd run this by the experts and i'm getting increasingly concerned about this.

I was locked out of paypal for a negative balance a long time ago, which was paid to the debt collectors but the account has since been locked ever since (I was under 18 when I made this account)

Shortly after I opened a stealth account which I have been using fine ever since, but it is under a different name and Date of Birth (but uses my new bank account, my new address, my details on eBay). We're talking 4 years of using this account to Premier verified status.

I've since opened a business and declared a little of what was in that PayPal for tax, paid said tax but this years tax will include a lot of activity from the PayPal account.

I'd like to call up PayPal and give them my real name and date of birth, but I'm concerned I'll be limited thanks to the old issues. I'd also like to change the account to a business account. If I don't do this, I'm worried the taxman will knock and ask why I use a different name on my PayPal account.

What would you do in this situation? What would you recommend I do? I can't remember the date of birth i gave in the original locked account but it wouldn't be my current because i was under 18,
Thanks for any help!

Leave both ebay and paypal in the details they are in, upgrade to business account if you want

When you make your invoices make one for customer in eby/pp details.
Also make one for tax man in your real details.

Also long as you keep a full record and pay the tax man in your real details you will be fine because you are not doing anything wrong.

they couldn't care less about what name your pp or eby are in as long as you pay the tax on it, just make sure what tax you pay is in your real name. Simple.

effortless223 · #3 03-13-2012

Hey, thanks for your response.

I'm actually quite close to just shutting down PayPal and going elsewhere.

Upgrading to business means I have to prove ID under that account (I'd like to keep this all legit)

What I completely forgot was that I was under 18 when I signed up to both eBay and PayPal.

I downloaded a transaction history csv and it shows all data since 2009 (which I need for taxes) paid to my email address, I see instances of the name which seem to be on sent donations and subscriptions, it's with the same last name so a quick change should fix.

This is all i need right? What I find most annoying is I planned to do it this morning, then I got hit with a £100 chargeback, so now I can't close it, even though I've said I'll take the liability hit (game donations) they're still reviewing it.

Once an account is closed I know there will be more chargebacks eventually, but do I have sufficient documentary evidence to go ahead and do this? All docs from day 1 of business.