How can I accept funds anonymously?

October 7, 2006 3:54 PM

The short version: how can I accept funds anonymously?

I've got an idea for a website, and would like to be able to accept funds via PayPal and/or Amazon and/or Google. I don't need to be anonymous from the IRS or government agencies--nothing illegal going on--I just don't need all my personal info splashed around the internet. As long as I'm dreaming, I'm dreaming big. What if this thing takes off? I don't want my kids singled out at school, kidnapped for ransom, etc.

Also, what kinds of precautions do I need to take when setting up the website, other than having Dreamhost keep my whois information private?

posted by anonymous to computers & internet (11 comments total)

Incorporate. Then have the corporate entity establish a merchant account.

But if there's nothing illegal going on, why all the paranoia?
posted by spilon at 4:02 PM on October 7, 2006

But if there's nothing illegal going on, why all the paranoia?

the original poster wrote "I just don't need all my personal info splashed around the internet."

Perfectly reasonable, though doubtful it can happen over the net.
posted by Brandon Blatcher at 4:34 PM on October 7, 2006

IANAL, but I believe a Nevada Corporation will give you the most anonymity.
posted by b1tr0t at 5:03 PM on October 7, 2006

Can't you just start a business account at PayPal? I have one, and I don't remember them needing me to prove I was incorporated or anything. I think as long as you have a checking account you can link to, you should be able to open one pretty easily, even if you use your personal checking account. I don't believe that information is available to buyers.
posted by bink at 5:29 PM on October 7, 2006

A verfified paypal account will show your address to purchasers.
posted by damn dirty ape at 5:40 PM on October 7, 2006

IANAL, but I believe a Nevada Corporation will give you the most anonymity.

Not really. The days of the anonymous close corporation are essentially gone. It was too easy hide and launder assets thorough a corporate shell.

To operate a Nevada corporation, you must file a list of directors (name and mailing address) to the state every year. Filing false information on this form is a crime. I believe this to be true of all 50 states and DC. (I know it to be true of Wyoming, where I have a corporate entity, and Nevada, where I formerly had one).

This data is kept online, accessible to anyone. Here's the record for Wynn Resorts.

The mailing address can be a rented mailbox, of course, which will provide you with a little more privacy than providing your home address, but private != anonymous.

Now, of course, it is possible to own all or some of a corporation without being on the board of directors (and thus, keeping your name off of the directors list), but this is extremely unusual and will likely encorage the IRS to take a closer look.
posted by toxic at 5:59 PM on October 7, 2006

Interesting stuff. I guess the only advantage Nevada corps have is the lack of state income tax, making them a popular choice for people who like to hang around California, but declare residency elsewhere. (Don't cheat on your taxes!)
posted by b1tr0t at 6:14 PM on October 7, 2006

A verfified paypal account will show your address to purchasers.
posted by damn dirty ape at 8:40 PM EST on October 7

?? I'm PayPal verified, and it only shows my email address as far as I can tell.
posted by joannemerriam at 8:28 PM on October 7, 2006

Personal info definitely cannot be assumed to be safe in paypal's hands. Ebay (the owner of paypal) became famous recently for overcompliance with any and all requests for info.

At least as of the time that story broke (which I believe was a couple years ago, but it's not clear the situation has improved at all), they will give out absolutely everything they have on you -- from your contact & credit card info to your entire bidding, purchasing & communication history -- in response to an email or fax that puports to be from a member of any law enforcement agency, No warrants necesary.
posted by allterrainbrain at 9:47 PM on October 7, 2006

If you have a hosting account with dreamhost, and you're not a porn site, you can have them set up your account to accept donations. If you use an email address that is on your private registration domain, you should be pretty safe from prying eyes. If this has anything to do with thepurification.org, I'm going to hate you.
posted by Mr. Gunn at 10:48 PM on October 7, 2006

e-gold would work for what you need.
posted by clord at 11:34 PM on October 7, 2006