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As you delve into online business forums and groups, the prevalence of posts offering verified PayPal and Stripe accounts with high trust levels is unmistakable. Despite the apparent ease with which these exchanges occur, the practice carries inherent risks, particularly for inexperienced buyers.
In this article, we aim to shed light on the nuances of buying and selling these accounts. We'll explore the circumstances where such transactions might be considered, equally crucial when it's wiser to steer clear of them.
1. What is a “Trust” PayPal, or Stripe account?
A “Trust” PayPal or Stripe account is also known as a verified PayPal or Stripe account. The term "Trust" in the realm of PayPal, Stripe, and similar platforms has evolved into slang within the user community. It signifies that the account, whether on PayPal or Stripe, has undergone verification processes with relevant information about the account holder and the associated business. Essentially, the more times an account undergoes verification, the higher the level of trust it garners in the community.
When sellers showcase their PayPal, Stripe, or eBay accounts as having "trust," they often provide specific account details as proof. These details may include the number of payouts, instances of account holds, transaction volumes, limit types, ratings, accompanying document information, and more.
However, it's essential to note that there are prevalent misconceptions within the payment gateway user community regarding what constitutes a trustworthy PayPal or Stripe account. These inaccuracies can contribute to the perception of trustworthiness, especially in the context of transactions involving the sale of such accounts.
If you seek a deeper understanding of trust accounts and how to foster customer trust, we recommend exploring our comprehensive article: "5 Common Misunderstandings about PayPal and Stripe Trust, and Strategies to Boost Customer Confidence in Your Brand."
2. Are PayPal, and Stripe resale accounts trustworthy?
2.1. Key Characteristics of PayPal, and Stripe resale accounts
- Resale accounts registered in the United are the most popular due to the nature of e-commerce and dropshipping trends here.
- The perceived trust level of an account often directly influences its selling price. Sellers may tier their offerings based on trust levels, with some providing warranties tied to factors such as payout performance or duration of use.
- Upon acquiring a resale account, the new account owner is still bound by stringent procedures to ensure compliance and avoid potential scrutiny from PayPal or Stripe. Adherence to these guidelines is crucial to prevent any unforeseen issues.
- Accounts available for purchase may differ in the extent of information provided. This can include the account holder's ID, address details, transaction history, payout records, eBay account ratings, and more. Generally, the more comprehensive the information, the higher the perceived value of the account.
2.2. What are the risks associated with purchased accounts?
While accounts available for purchase often undergo basic verification procedures, you should be aware of potential risks that may arise:
In case of Store-related issues, PayPal or Stripe may demand proof of the account holder's identity, address, or recent bank statements. Failure to provide this information can result in limitations or closure of the account.
Regular reviews by PayPal and Stripe may prompt requests for additional information even if the Store is running smoothly.
The person behind the sold account may have a history of limitations, blocks, or blacklistings by Payment Processors. Attaching such an account to a Store can lead to repercussions affecting both the Store and associated PayPal and Stripe accounts.
If the purchased account is stolen, the original owner may notice unusual activities in their bank statements, triggering investigations that could impact the associated Store.
Businesses aiming for stability and large transaction volumes may prefer managing a limited number of accounts. Even if these acquired accounts are no longer in active use, their information remains in the PayPal or Stripe data system, influencing future account assessments.
Dr. Hui Wang, Director of Risk Management Science at PayPal, highlighted the advanced capabilities of PayPal's AI system. This technology can swiftly analyze and assess hundreds of accounts within seconds, identifying any violations of terms of use.
In light of these potential pitfalls, you should be cautious and prioritize ethical practices to avoid adverse consequences in your online transactions.
During PayPal account operation, Merchants who violate common regulations may get their accounts limited for 21 or 180 days, and sometimes, the accounts may get banned. When running into these troubles, some account owners may choose to buy or open different PayPal accounts.
“PayPal has an AI system smart enough to analyze, retrieve, and verify hundreds of accounts in just seconds to conclude which accounts violate the terms of use”
Dr. Hui Wang, Chief Risk Management Science Officer của PayPal
3. Final verdict: should you buy a verified PayPal or Stripe Account?
When contemplating the purchase of a PayPal or Stripe account with trust, it's crucial that you self-assess the risks by considering the following questions:
- Are there alternative options for your store? Is buying back an account is the sole option?
- What is the purpose of using the account? Will it be used for short-term problem-solving or for long-term strategic purposes?
- How high is the transaction volume and for how long do you use the account for?
- What are the plans for business setup, accounting, taxes, and auditing?
In our experience helping many sellers, if you intend to scale your store transactions to a significant volume each month, using a legitimate account is the safest option. During the process of increasing limits, PayPal and Stripe frequently request additional verification documents, and compliance with these requirements is crucial to avoid disruptions to the account.
If your business is on the path to establishing a substantial online store and you're uncertain about the optimal options for receiving payments from international customers, or if you need assistance with standardizing your business's tax and accounting processes, reach out to Global Link Asia Consulting today
With extensive experience in providing direct support to numerous international sales businesses, offering guidance on strategy, troubleshooting, limit resolution, legal matters, and more, Global Link Asia Consulting can be your reliable partner on this journey.
4. How can we help you register your business Stripe and PayPal accounts?
Global Link Asia Consulting, as your trusted one-stop corporate service provider helping hundreds of business owners start their businesses overseas and manage their companies with success, we can
- Provide advisory services for international monetary transactions, optimizing business cash flow;
- Do PayPal Underwriting to get access to PayPal Pro and advanced features;
- Assist in registering and maintaining VIP accounts with international payment gateways, offering faster processing and lower fees.
- Offer guidance on compliance with payment gateway User Agreements and help resolve disputes.
- Help you create new PayPal Business accounts, crucial for those with prior account issues or high transaction volumes.
- Advise on strategies for increasing transaction limits with PayPal and avoid PayPal limitations and restrictions.
In addition, we offer corporate services for entrepreneurs in PayPal, Stripe non-listed countries wanting to set up their PayPal Business Account:
- Register a company in Singapore; Hong Kong, and the U.S;
- Open a corporate bank account in Singapore with a 99% success rate;
- Choose the right company types for tax optimization in Singapore;
- Apply for business licenses;
- Get an affordable, professional registered office address for business;
- Support to open, authenticate, and manage Stripe Paypal Business in Singapore, Hong Kong, and the U.S;
- Handle all your tax accounting needs, timely annual filings, auditing, and more.
5. FAQs about Stripe and PayPal accounts?
Both Stripe and PayPal are reliable payment gateways and the choice of both depends on the business and requirements of your company.
If you are looking for a budget-friendly option, Stripe is better than PayPal. If you want a more reputable and widely used payment gateway, PayPal is a better choice.
Both Stripe and PayPal prioritize security and are PCI compliant, ensuring that they meet industry standards for protecting sensitive payment information.
Stripe offers payment data encryption, fraud and risk detection, and online identity verification, among other security features. PayPal offers data protection, TLS connectivity, email confirmation, etc., as key security features.
There are numerous other payment gateways available for businesses, each with its own features and advantages. Some alternatives to Stripe and PayPal include 2Checkout, Alipay, Authorize.Net, SecurePay.com and many more.
Yes, both Stripe and PayPal support international payments and transactions in various foreign currencies, providing businesses with the flexibility to accept payments from customers around the world.
With over a decade of experience serving as a trusted partner to more than 750 business owners seeking professional development and breakthroughs in the international market, we are an expert strategic corporate service provider helping you incorporate and operate successfully in 10 different countries
Our areas of expertise include:
- Strategic Consulting and Company formation in over 10 different countries worldwide such as Singapore, Hong Kong, the U.S., Australia, Thailand, Malaysia, and offshore destinations like BVI, Belize, Seychelles, and more.
- Account opening for personal and corporate bank accounts, as well as setting up PayPal and Stripe gateqays in countries like Singapore, Hong Kong, and the U.S..
- Tax Consulting and Preparation for SFRS IFRS financial reports, corporate income tax returns, VAT/GST (Value Added Tax/Goods and Services Tax), and more.
- Opreation support:
- Registered adress;
- Foreign consular legalization;
- Trademark and patent protection registration in Singapore and the US;
- Employment Pass application in Singapore and Hong Kong;
- Website design, international SIM number provision;
- DUNS registration.
With over 10 years of experience and a team of experts with 5 to 25 years of experience (international standard certifications) as well as direct partnerships with institutions such as OCBC, UOB, DBS, PayPal, and Stripe, we are proud to offer professional, legal, transparent, sustainable services with no hidden costs.
Global Link Asia Consulting Pte. Ltd. is pleased to announce the publication of the above insightful and informative article on our official website, Global Link Asia Consulting on 11th November 2020. The copyright for this article is exclusively held by Global Link Asia Consulting Pte. Ltd. Any unauthorized reproduction or distribution of this content without our express written permission is strictly prohibited. We value the protection of our intellectual property and appreciate your cooperation in adhering to these guidelines. Thank you for your continued support of Global Link Asia Consulting Pte. Ltd.
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