Business Account?

Tylerzz · Nov 2, 2016

Hello, I'm needing some advice. So basically what are the best and safest options to share a account with multiple people. For example lets say you own a 500 player network, how would you go about handling the money that comes in.

PayPal business account, but what about the information thats on the account?

Tylerzz · Nov 2, 2016

skrt said:
If you're the main owner you should keep all the funds unless the other owners are really trusty friends other than that if they get any type of share just send it to their paypal.

Everyone is investing there time and money into it.

Tylerzz · Nov 2, 2016

skrt said:
How many people? and do you know them personally?

Three, and I know one of them for a long while, third person I've known for a few months.

DeusTheOx · Nov 2, 2016

Tylerzz
here you go:
https://developer.paypal.com/docs/classic/adaptive-payments/integration-guide/APIntro/

Tylerzz · Nov 2, 2016

Kraytonn said:
I think you should keep it in your personal and split it and send it to their paypal. One owner rages steals all the money you are screwed.

Normally people aren't confident about investing $500+, and partnering without access to certain thing.

Anyone have any experience with PayPal using personal account compared to business for receiving donations?

DeusTheOx · Nov 2, 2016

Tylerzz I have used both. I started with a personal account, then moved to a business account. Just had to enter my EIN to upgrade to the business account. I prefer the business account.
But, please see my link above. This will route the income into each of your separate accounts according to how you set the params. This prevents anyone from touching another's funds. Adaptive Payments are the way to go, in your situation.

Tylerzz · Nov 2, 2016

DeusTheOx said:
Tylerzz I have used both. I started with a personal account, then moved to a business account. Just had to enter my EIN to upgrade to the business account. I prefer the business account.
But, please see my link above. This will route the income into each of your separate accounts according to how you set the params. This prevents anyone from touching another's funds. Adaptive Payments are the way to go, in your situation.

Thanks, probably the way to go.