Paypal business account.

Evening,

It's illegal for people under the age of 18 to open a regular Paypal account, but were I to start a business in my country, could I then open a Paypal account attached to it while being under the age of 18 and get it verified? Or would this still be against Paypal's TOS? If so, they'd make it impossible for under aged to start a business, wouldn't they?

Anyone has any ideas how I can make this happen?

Thanks,

Khaini.

 

Not sure. However, I do not think PayPal verifies your age unless they lock your account and request your social security number. Or if you provide your real date of birth.

I've had a PayPal business account since I was 16, no issues.

 

You can go ahead and do that, but yes it's against their TOS. If they find out you're under 18, your account and funds will be frozen until you're 18. If you're gonna be dealing with a lot of money, the risk is definitely high and there is a high possibility that they will end up asking for your ID at one point. How old are you?

 

I just turned 17 and been having a PP account for 3 years now, just for buying and selling Runescape gold. Now I want to go and execute a business idea I've been playing in my head with for some time, but I don't want to risk my profits (If I make any) to be frozen. I don't think I'll be dealing with a load of money, but you never know.
Opening the PP account isn't the problem tho. I'd like to get it verified, so I'll be taken a bit more seriously and so that I won't be having any problems dealing with customers and suppliers, but I guess it's still illegal to have a PP business account when you're under aged?
The main question here is, does the owner of a business Paypal account need to be 18+, just like with the normal Paypal accounts, or is there like a backdoor because the Paypal account would be the company's and not the individuals?

 

You can make a parent/child paypal account, although I'm not aware of the restrictions behind it. It allows you to make a paypal if you're not 18 with the approval of a parent (I think). Regarding your question, yes, you need to be 18 to make a regular paypal account.

 

Thanks for your input. I'll look into the restrictions tomorrow. If anyone has any extra input, please do share!

 

Youve been operating on that PayPal account 3 years? Your risk of a frozen count should be small unless your transaction amounts dramatically increase.