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Thread: do I have to have a registered business

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  1. #1
    Nate Guest

    Default do I have to have a registered business

    Are individuals able to get a merchant account or is it only for registered businesses? I sell on ebay as an individual and don't have a ein/tax id.

  2. #2
    Unregistered Guest

    Default

    I have a merchant account as an individual/sole proprietor and just use my ssn instead of tax id.

  3. #3
    Unregistered Guest

    Default

    Private people can get merchant accounts no problemo but if you are a somewhat big time seller I would recommend that you register as a LLC or Corp. but you don't have to to get a merchant account.

  4. #4

    Default

    I have been with merchantinc.com for a few years now and I signed up with them as a private person/sole prop. I do remember being a bit confused about the application as it asked for a Legal Business name but I was told to just enter my First and last name there and I listed my ebay seller id as my DBA name (this is the name the buyers see on their bank/credit card statements)

  5. #5

    Question

    I just looked up "Free Merchant Account" on google and found a website called free-merchant.com. I called them and they said they are eBay compatible for US based merchants only. They look pretty good. Does anyone have any experience with them? I really need a cheap but reliable way to accept credit cards on eBay and on my website/blog.

  6. #6
    Join Date
    Jan 2014
    Posts
    347

    Default

    There is no problem to getting a merchant account but if you start making a lot of money, they will start to ask questions.
    If you make a lot of money, you can better start a business. You can even get more benefits if you start a business (your home is your office? Great, that's tax deductible!).

  7. #7
    Join Date
    Nov 2011
    Posts
    162

    Default

    Quote Originally Posted by Delusional View Post
    There is no problem to getting a merchant account but if you start making a lot of money, they will start to ask questions.
    If you make a lot of money, you can better start a business. You can even get more benefits if you start a business (your home is your office? Great, that's tax deductible!).
    8 years I have had my merchant account and as my business has grown so have my my processing limits for my merchant account and there has never been and "questions asked" I just email them my limit increase request and 2 days later my new limits are in place. Try doing that with Paypal lol you can't even get the to reply to an email over at paypal.

  8. #8

    Default

    Quote Originally Posted by Unregistered View Post
    Private people can get merchant accounts no problemo but if you are a somewhat big time seller I would recommend that you register as a LLC or Corp. but you don't have to to get a merchant account.
    This is what I did exactly and I have not had any problems so far and I hope it will stay that way.
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  9. #9

    Default

    I'm not a registered business. Had a merchant account no for a while. No problems

  10. #10

    Default

    You don't need to be registered. I have a merchant account simply because it looked like the best fit for what I planned on doing with the account. The number of transactions, limits and fees are all considerations.

    If you are a US citizen, there may be some tax implications as well - whether a business pays the taxes or an individual. As I am not in the US, I cant be sure how it is handled though.

    Just look through the various account types and find the most suitable one.

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