What is (the name of) my business account?

[elgavea]

Hi,

This is probably dumb, but here goes. I'm trying to fill the forms of the authorisation letter for my business account, and the forma goes like this:

Company’s Name [___________________________________] (the “Company”) hereby authorizes the following individual(s) to act for and on behalf of the company in handling all matters related to the management of its PayPal business account [___________________]:

On the first bracket it's obviously my company's name, but I am not sure what am I supposed to write on the second one.

I have two different names: the one which is the first and last legal name we're asked when creating the account (i used the name of the company), and the second one which is the business name (the one that appears on top of any invoice). There is also the merchant's ID number.

So which of these (if any) is the name I should write on the second bracket?

Thank you for your help, and forgive me for such a dumb question.

[DPCreations]

If you think it is a dumb question, then why even ask?

Actually, it's never a good idea to characterize the quality of a question.  It's a question, neither a good question or a bad question, just a question.  

Who is asking for a letter of authorizateion?  Why?

How is your company organized?  Sole proprietorship, corporationl, partnership, or something else?

Is the account in you company name?

In what country?

[elgavea]

Thank you for your comment.

I assumed it might be dumb since, typically, user and account names are easy to identify. In this case, I am unsure if the fault is my own or if the paypal data isn't that clear on the issue. But point taken.

I am the CEO of the company. Besides me there is, for now, just another  colleague. I need to fill this form so to finish the setup of our business account. I understand this is a required step because I always get the disclaimer: «It's time to start getting paid! Finish setting up so you can open for business.». The idea is to provide a formal proof that the person using the paypal account (me) acts of behalf of the company (which I own).

Who is asking for a letter of authorizateion?  Why?
So who's asking is paypal (so to speak) and I assume it is just  a requirement to be able to receive payments.

How is your company organized?  Sole proprietorship, corporationl, partnership, or something else?
Partnership

Is the account in you company name?
Yes. I used the company's name as the username (I put in the "first/last legal name" the two word that for the name of the company). And on "business information" I put the full name of the company (basically the same name but with the portuguese legal form (LDA) in the end). Now, I don't know if that is the account name or if instead the account name is something else.

In what country?
Portugal

[DPCreations]

I assume that you are in Portugal, the partnership is in Portugal, and your PayPal account is also in Portugal.

I can't offer specific details, just more suggestions and/or comments.

Usually, the PayPal acocunt will first be opened by a person and in the person's name.  Later, a business name would be added.  My own business account is in my name, with business name added later.  I don't know if it is possible to actually open the PayPal acocunt in the name of the business.

Suggest you don't do anything until you confirm that your account is really set up correctly.  It seems strange that you would  add the business name as a first-last name rather than usign your name as first-last names.  It may be a good time to actually check with PayPal customer service to make sure it is really correct at this point.  If it isn't and you continue you would likely unrecoverable problems later.

You could alsow wait for someone else to help.

The more details you include about the steps you used to set up the buisness and business details can help.

Do your partnership documents list you as the CEO or the President of the company?

I would also suggest you only give one person the authoritiy to manage the finances of the partnership.  Mis-managed partnerships can be risky when the wrong person manages finances.

[elgavea]

Thank you.

Yes, I created it in the company's name, for I assumed that was the purpose of a business account (to be in the name of the company; not the name of the person creating the account). I tried to reach out to paypal support but with no answer. I think I will do as you suggest and create a personal account/use the one I have and upgrade it to business.

Just one question, in abstract, what would be a name of a business acount if, for instance, these were the facts:

username - john smith
business name - some company.inc
merchant id - 1234567890
mail - johnsmith_somenumbers_etc@gmail.com

Thanky you for your message

[DPCreations]

Where did you find "username".  As far as I know PayPal doesn't use that term; that's what I see as the first problem.

My profile lists "name" and that is where I put my real name.

There is no field for "username".

After other details, it then shows "business information" and that's where I have company name.

My account was intially established as a personal account and then upgraded to business.

Merchant Account ID is a PayPal-supplied nubmer for your account.

[elgavea]

I used "username" in a vague sense, just to distinguish from business name. I was refering to the name (first and last). So, in that case, the account name would be what - your name, the name of the company or something else?

[DPCreations]

"Name" is first name-last name as it indicates in the fields; that is, your first name and your last name as on all your personal ID documents.

[elgavea]

So, you're saying that everyone who shares the first and last name has the same accout name? How does the authorisation letter work if that is the case? You could be saying you authorise X to act on behalf of a whole group of accounts, no?

[DPCreations]

Not at all.  There are 2 separate issues.  First is your account, second is the business information on your account.

You account is actually identified by your unique email address, not be your name.  Once you add the company name appropriatedly to your  account, then you can add the comapny name when requested, along with the your name as authorizing.