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Know about PayPal subscriptions when selling a website Online
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Know About PayPal Subscriptions When Selling A Website Online

Are PayPal Subscriptions Transferable When Selling A Website?

Well, In A Nutshell, The Answer Is No. However, Before You Start Worrying You Need To Realize That There Is A Way To Deal With These Kinds Of Issues And PayPal Is No Exception. One Can Transfer One’s Account To Another Which Helps In Transferring The Base Of An Underlying Subscriber.

Now You Must Be Wondering About How To Do It? Before Getting To That Part, You Need To Know What Type Of Accounts Can Be Transferred, And That Is PayPal For Business Account. If You Have PayPal For Individual Account Then I Am Afraid You Are Out Of Luck.

Let’s Talk About The Issue That Occurs, Suppose A Person Wants To Sell A Website And Has A PayPal Individual’s Account; It’s Possible That The Potential Buyers Of That Business May Value It Less. Reason For This Thing Is That For A Buyer To Be In Charge Of The Base Of Subscribers, Every Respective Subscriber Would Have To Re-subscribe To Make Payments To Another PayPal Account Which Is Controlled By The Buyer. And It’s Possible That Not Every Subscriber Subscribes Again Thus, Making The Website Lose Its Value.

An Example Would Illustrate Things Better. Suppose A Person Owns A Website. And That Website Has Flourished Well But He Decides That He Wants To Sell It To Someone Else. The Owner Of The Said Website Finds A Buyer And Then Sells Him His Site. Now The Time Comes Of Selling His Assets To The Buyer And To Transfer His Account Which Is Not Possible. The Only Thing The Buyer Can Now Do Is To Have Subscribers Of Owner’s Account To Subscribe To His Account. That’s Where The Possibility Of Many Subscribers Not Moving To Another Account Occurs. A Lot Of Them Might Not Re-subscribe To The New Owner’s Account. This In Turn Affects The Business That The Bought Website Is Able To Attract.

Keep In Mind That The Above Mentioned Where The Subscribers Have To Re-subscribe To A New Account Occurs When A Person Sells A Website Through An Individual’s Account To Someone Who Has A Business Account.

Now Coming To Whether PayPal Subscriptions Are Transferrable With A Business Account Or Not? Well, It Is Possible And Makes Use Of A Simple Trick. But The Trick Requires Some Time And Effort. Let’s Begin! If A Person Wants To Sell His Website Along With All Of The Subscriptions We Know That It’s Not Possible Through An Individual’s Account. So, How To Do It With A Business Account? The Answer Lies In Changing The Name Of The Account That The Seller Has.

The Seller Will Have To Change The Name Of The Account With The Name Of The Buyer. It’s A Simple Trick But It Takes Some Great Effort. There Are Some Requirements That Need To Be Fulfilled. The Seller And The Buyer Also Need To Be In The Same Country.

First The Seller Will Have To Write A Letter Requesting To Change The Contact Name Of His Business Account. Here He Needs To Provide The Name Mentioned In His Account And The New Name He Wants To Add. Then He Needs To Provide A Copy Of The Buyer’s Photo ID. For This Purpose He Can Use A Passport, A Driver’s License Or Any Similar Government Issued Picture. Then He Needs To Provide The Social Security Number Of The Buyer. Then He Has To Provide The Business Information And The New Contact Name. Here He Has To Provide Active Business License Or Any Business Document Which Is Filled In The Home State Of The Business. In The Last Step He Will Have To Provide A Bank Statement Of The Bank Account Which Is Tied To His PayPal Account.

After All Of These Steps Have Been Done The Seller Needs To Login To His Account, Select His Business Information, Select Update Business Information And Change The Name Of His Business. This Whole Process Can Take Some Time Due To All Of The Legal Paperwork That Needs To Be Sorted Out.

Seller Should Make Sure Whether He Is Ready To Go Through This Process Or Not In Order To Transfer PayPal Subscriptions When Selling A Website. It Does Take Effort But At Least In The End You Will Be Able To Sell A Website You Don’t Want Any More For The Money That You Do Need.

For Those Of You Interested You Can Start Selling Websites On Fadella.

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