Paypal and new Ltd company

heman2012

Hi

I am looking for advise, I have just started a new limited company, I have 2 PayPal accounts and I will be taking some payments through each.

One is attached to my personal bank account. Can I withdraw the funds from the paypal, to my personal bank account, then send over to the business bank account? is that allowed?

Comms69

heman2012 wrote: »

Hi

I am looking for advise, I have just started a new limited company, I have 2 PayPal accounts and I will be taking some payments through each.

One is attached to my personal bank account. Can I withdraw the funds from the paypal, to my personal bank account, then send over to the business bank account? is that allowed?

Yes, no different to taking cash.


But the question would be why? If you have a business paypal, why not just use that?


It sounds like you're hiding something

heman2012

Not at all, you just cant attach the same bank account to more than one paypal. Thanks for you help

00ec25

heman2012 wrote: »

One is attached to my personal bank account. Can I withdraw the funds from the paypal, to my personal bank account, then send over to the business bank account? is that allowed?

it is allowed but it is very messy

why do you "need" separate paypal accounts given you already have one business one? (Other than the presumption that you evade business seller fees by using a personal account?)

HatAndScarf

heman2012 wrote: »

Hi

I am looking for advise, I have just started a new limited company, I have 2 PayPal accounts and I will be taking some payments through each.

One is attached to my personal bank account. Can I withdraw the funds from the paypal, to my personal bank account, then send over to the business bank account? is that allowed?

heman2012 wrote: »

Not at all, you just cant attach the same bank account to more than one paypal. Thanks for you help

That's not a problem - simply attach your shiny new limited company bank account to your paypal business account

Not got a shiny new limited company bank account? Why not?
Most limited company formation agents will arrange a free (for a limited period) one for you.

You presumably know that most personal accounts do not permit use for business purposes, and that includes receipt of business funds you transfer from paypal. If they suspect, you will end up with a business account that will not be free, even for your personal use (if you retain a bank account at all)