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Creating a pay pal account

  • 08-01-2015 10:36pm
    #1
    dellas1979
    Closed Accounts Posts: 4,128 ✭✭✭


    Hi everyone,

    I hope this is ok here (didnt know where else to post).

    I need to open a paypal account (its on behalf of a local club).

    It is to register participants in for an event.

    1 type of participant is to pay e30 and the other to pay e50

    Is it ok to just open a personal account and can you specify both amounts (as in when they click on the link, they get an option?) or does a special (business?) type account have to be created? What would a local sports club go under?

    Any advice would be great (urgent)
    Thanks


Comments

  • #2
    Sam Mac
    Closed Accounts Posts: 2,227 ✭✭✭Sam Mac


    how many payments do you think you would be receiving each year?


  • #3
    delahuntv
    Closed Accounts Posts: 1,532 ✭✭✭delahuntv


    Best to create an account in the name of the club - you will need club registration documents and club bank account details and a email address for that account.

    I would certainly also get committee approval for it at next committee meeting.

    The first €2,000 of funds received won't require much documentation, but after €2,000 you will need to send copies of bills etc to confirm status under money laundering rules.

    It will also be set up as a "business" account. One huge advantage of a business account is that if you need to contact paypal, you will have a good chance of talking to the support staff in Blanchardstown - and they can very much make getting the correct docs very easy for you.

    Having it in your own name simply opens too many potential issues.


  • #4
    dellas1979
    Closed Accounts Posts: 4,128 ✭✭✭dellas1979


    Sam Mac wrote: »
    how many payments do you think you would be receiving each year?
    I actually dont know. I emailed committee there and said you can open an account but with fees.

    I just thought you opened an account (business) and paid a fee per transaction. Didnt realise there was paper work?


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