Best, cheapest way to send money electronically under a pseudonym?
July 17, 2015 7:19 AM Subscribe
Best, cheapest way to send money electronically under a pseudonym? I want to use a company name but don't have a company bank account and I'm struggling to get PayPal to allow this.
I am a tax-registered UK sole trader who, as is common, uses their personal bank account for their business. This is a second job and I run it under another name to keep the two jobs separate. All my income is through my personal bank account but I have to pay a number of international clients who know me under this other name. I currently do this through a non-verified PayPal account under the company name, transferring the required amount from my personal PayPal account first.
This was fine when my turnover was low but it has expanded and I've now hit the annual limits on transferring money in and out of my non-verified account. Ideally I would just verify the account to raise these limits but I do not have a bank account in the company name, just my own name and I can't see anyway of linking to my personal account without changing the name of the PayPal account.
I am totally happy for PayPal to see my real name and details and I understand the need for the anti-money laundering checks but I only want my clients to see my company name. Is this possible? I know PayPal offer business accounts but, like a business bank account, this seems an unnecessary expense given the size of the company (and I already pay fees to PayPal on each transaction anyway).
If not, is there an alternative company I could use?
I am a tax-registered UK sole trader who, as is common, uses their personal bank account for their business. This is a second job and I run it under another name to keep the two jobs separate. All my income is through my personal bank account but I have to pay a number of international clients who know me under this other name. I currently do this through a non-verified PayPal account under the company name, transferring the required amount from my personal PayPal account first.
This was fine when my turnover was low but it has expanded and I've now hit the annual limits on transferring money in and out of my non-verified account. Ideally I would just verify the account to raise these limits but I do not have a bank account in the company name, just my own name and I can't see anyway of linking to my personal account without changing the name of the PayPal account.
I am totally happy for PayPal to see my real name and details and I understand the need for the anti-money laundering checks but I only want my clients to see my company name. Is this possible? I know PayPal offer business accounts but, like a business bank account, this seems an unnecessary expense given the size of the company (and I already pay fees to PayPal on each transaction anyway).
If not, is there an alternative company I could use?
I'm fairly certain that you'll need to pony up for a business account for you to operate under the business name rather than giving out your real name. Though this suggests to me that upgrading to a business account doesn't actually cost anything, aside from transaction fees.
posted by Aleyn at 12:32 AM on July 18, 2015
posted by Aleyn at 12:32 AM on July 18, 2015
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posted by TestamentToGrace at 12:29 PM on July 17, 2015