Selling stuff online if you are a kid

So I tell my son he should sell stuff online and earn some cash, rather than me re-selling his video games, books and music for him.  Constraint one: I don’t want to give him my financial account passwords or otherwise link my accounts to his seller accounts.  My son is 14.

1) Most online banks won’t let you open an account until about age 16, or they will only let you open a savings account.

2) Paypal will let a child open an account, but it must be linked to a checking or credit card account before you can do anything with it. (See #1) Paypal will let you open a subaccount of an adult account,  but this subaccount appears to be unable to pay ebay fees.

3) will not pay you unless you can accept ACH payments, presumably via checking account and doesn’t accept paypal.

4) auctions will not accept paypal for paying fees or receiving payment.

5) Things like visa BUXX appear to be only for making payments.  I haven’t check to see if BUXX cards can be used for paying fees on ebay, amazon or half. BUXX certainly can’t be used to receive payment.

So it looks like to keep my account separate from my sons, I need to set up under my name, address, etc, an entirely new checking account, paypal account, ebay account, amazon account, and account and then give the logon credentials for those to my son.  What a pile of work!  Then in 2 or 4 years, I have to shut all these accounts down and trasfer them to accounts set up in my son’s name!

Comments are closed.