Transferring Paypal Accounts

[NINJA-Webhostin]

Anybody have any experience with taking over someone's Paypal account or transferring it to your own. I purchased a small business related to my hosting business and the previous owner wants to keep his current paypal account which everything flowed through, but of course all the payment details and recurring revenue needs to flow to my business now?
Paypal does not seem to be much help.

 

[easyhostmedia]

Anybody have any experience with taking over someone's Paypal account or transferring it to your own. I purchased a small business related to my hosting business and the previous owner wants to keep his current paypal account which everything flowed through, but of course all the payment details and recurring revenue needs to flow to my business now?
Paypal does not seem to be much help.

They wont as the paypal account is not yours and cant be transferred. you need to change the payment setting in the client management system to your own paypal account.

 

[MattC]

As I understand, all the clients will have to set up new PayPal subscriptions with you.

This means you may have some losses - some users may not redo their subscription, thus becoming a lost client.

Probably something that should be factored in when purchasing a company from someone else. A company may have 300 active PayPal subscriptions, but if only 50 of those reup their subscription with you then the acquisition loses some value for you.

 

[easyhostmedia]

The person selling their company should go through their PP account and manually cancel all subscriptions, this way no auto payments will go to them, they should also inform all their clients of their new host/provider.
You should have set up the paypal settings in your client management system to your own, so when these client pay via invoice or set up new subscription this will go into your PP account.

 

[KnownHost]

The person selling their company should go through their PP account and manually cancel all subscriptions, this way no auto payments will go to them, they should also inform all their clients of their new host/provider.

This right here is very important. The last thing you want is having users pay an old account, and then expect you to provide the services for free.

 

[SenseiSteve]

This right here is very important. The last thing you want is having users pay an old account, and then expect you to provide the services for free.

Agreed - the result is confusion and most likely lost clients forever.

 

[NINJA-Webhostin]

Thanks everyone for the feedback. I will update the route I took once it gets worked out.

 

[setrahost]

Thanks everyone for the feedback. I will update the route I took once it gets worked out.

What'd you end up doing?

 

[AlphaNine_vini]

You would need to announce about the acquire. You users would need to cancel the subscription at the end of the month and subscribe again on the new invoice with your Paypal account.

 

[Alex - A2 Hosting]

I know this thread is old but it contains some incorrect information so...

You can transfer a PayPal account as long as the new owner and previous owner is in the same country. You have to contact PayPal, show proof, sign some documents and they'll make the changes for you.

If the new owner or old owner is in a different country? Sadly the above doesn't apply and what is said in this thread does .

 

[here-host]

I know this thread is old but it contains some incorrect information so...

You can transfer a PayPal account as long as the new owner and previous owner is in the same country. You have to contact PayPal, show proof, sign some documents and they'll make the changes for you.

If the new owner or old owner is in a different country? Sadly the above doesn't apply and what is said in this thread does .

Agreed with Alex.
A good option is to make a big alert message to your clients (customers) in the website about the change, because there will have some missclick and big loses.
Message like:
"Dear Customer, please take a look about some important changes in the company. You must change your account settings. It will take less than 2 minutes."

 

[easyhostmedia]

Agreed with Alex.
A good option is to make a big alert message to your clients (customers) in the website about the change, because there will have some missclick and big loses.
Message like:
"Dear Customer, please take a look about some important changes in the company. You must change your account settings. It will take less than 2 minutes."

And i can 100% Guarantee that 90% of clients will not read the notice and not change settings