As a first step in setting up a new PayPal account, you have to list the business name contact under which the account will be known to PayPal (and posted on a lot ofyour client-facing PayPal correspondence). Before you fill out this field, think carefully...think strategically...because once done, it is a colossal pain to change. Want to guess how we know this? You got it...recently had to review for one of our clients.
We would recommend that you make this your business name, since you never know if you will retire to the tropics, lose your CPA, etc.
Just so you're informed, here is roughly how it works today, according to PayPal's help center:
Changing Your Business Contact Name in PayPal
- Go to your account settings and find your Business information.
- Choose to update it, then pick the option that says your business name has changed.
- Upload the documents PayPal asks for. PayPal says it may need proof of the legal name change, like a current business license or registration document, dated within the last 12 months and showing the full business name.
- Make sure the new business name matches the name on your linked bank account. PayPal may re-verify linked bank accounts.
No faxing these days, but it still takes paperwork and time. So get it right the first time!