Just wanted to give you all a small update, but don't worry it won't make any difference to how things are on here.
PayPal. *sigh*. Like pretty much every large organisation which deals with large sums of money PayPal now have to comply with EU money laundering legislation. This is to make sure that the Mafia or terrorists aren't somehow funnelling their vast profits of crime through BMW internet forums. Any PP account that receives 2500 euros or more automatically gets their account limited and has to provide legal proof that they aren't Al Qaeda.
With the biggest sale of calendars ever last year we reached potential international criminal status, and I've been struggling to prove we are legitimate (possibly due to the dodgy members on here). We don't make a profit (in fact I'm still down on money I've personally invested), although we do have a small surplus of around £400 at the moment but that's mainly because I haven't been able to pay for anything for over 5 weeks out of the locked account. Meanwhile they are still happy to keep receiving payments in to the account!
I've tried explaining that we are a "not for profit" organisation, but after many weeks of supplying scans of photo ID's, household bills and other requested evidence that's still not good enough. This left me with 2 options, the first being opening a bank account for the forum. Funnily enough the site has a "PayPal" account for handling all the money, so this seemed a little ridiculous and completely pointless addition.
Second option was to register a business with Companies House, of which you can see below we are now fully incorporated. Kind of ridiculous, and cost us £42 for the pleasure of doing so. I now also have to produce yearly accounts to add to the existing work I do.
Bizarrely if I wasn't so honest and transparent with how I handle the donations and (meagre) profits from sales on here, I doubt I would have had to go through this.
So you are now accessing a web service provided by ZRoadster Ltd
. I can't even begin to explain how ridiculous that sounds in my head... Oh, and don't mess with me because I'm now the Director round here...
PayPal. *sigh*. Like pretty much every large organisation which deals with large sums of money PayPal now have to comply with EU money laundering legislation. This is to make sure that the Mafia or terrorists aren't somehow funnelling their vast profits of crime through BMW internet forums. Any PP account that receives 2500 euros or more automatically gets their account limited and has to provide legal proof that they aren't Al Qaeda.
With the biggest sale of calendars ever last year we reached potential international criminal status, and I've been struggling to prove we are legitimate (possibly due to the dodgy members on here). We don't make a profit (in fact I'm still down on money I've personally invested), although we do have a small surplus of around £400 at the moment but that's mainly because I haven't been able to pay for anything for over 5 weeks out of the locked account. Meanwhile they are still happy to keep receiving payments in to the account!
I've tried explaining that we are a "not for profit" organisation, but after many weeks of supplying scans of photo ID's, household bills and other requested evidence that's still not good enough. This left me with 2 options, the first being opening a bank account for the forum. Funnily enough the site has a "PayPal" account for handling all the money, so this seemed a little ridiculous and completely pointless addition.
Second option was to register a business with Companies House, of which you can see below we are now fully incorporated. Kind of ridiculous, and cost us £42 for the pleasure of doing so. I now also have to produce yearly accounts to add to the existing work I do.
Bizarrely if I wasn't so honest and transparent with how I handle the donations and (meagre) profits from sales on here, I doubt I would have had to go through this.
So you are now accessing a web service provided by ZRoadster Ltd
. I can't even begin to explain how ridiculous that sounds in my head... Oh, and don't mess with me because I'm now the Director round here...
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Careful Gaz with comment's like that your have Bond. James Bond looking you up. 