CryptoPay - Move to new owner

[864real]

Buying a wash with CryptoPay in place. Based on the responsiveness of the current owner, don't expect to get a lot of help from him. Can someone give any process tips to move the account over to me. What info will need, etc. Obviously want to move it over ASAP when we close.

Figured several have done this before and can let me know what to expect.

Thanks

 

[Greg Pack]

I did this a few years ago and it was pretty simple if I recall. You've got to contact crytopay and tell them you're buying and establish a Worldpay merchant account. The seller needs to fill out a form from cryptopay that says he transfers the site to you. I'd start the process- about two weeks before closing.

 

[864real]

Thanks for the info. We are doing a quick close so won't have two weeks but will see how quickly can make it happen. Will reach to them today to get going.
We will be closing before 2 weeks, so maybe the existing worldpay account could be updated to send funds to my account until changed over.

 

[Greg Pack]

I don't know if they could do that. In the past I have just had agreements with the other parties that any net credit card funds collected after the closing date would be turned over to the buyer.

 

[Axxlrod]

I just did this a few months ago when I sold one of my washes.

Seller has to contact Crypto and inform them that you are selling the wash. Crypto sends form to seller to fill out and send back to Crypto.

Seller informs Crypto who buyer is, and crypto sends buyer form to fill out.

Buyer needs to have merchant account setup. This takes some time.

Day of transfer, seller authorizes crypto to change over deposits to buyer's account so long as buyer's account is all set up.

Usually there is a delay, and seller will continue to receive deposits.

I received deposits for almost a month since my buyer didn't have his stuff together.

I then wrote buyer a check for all the funds I received after the transfer date.

 

[864real]

Great. Thank you for the process outline. Hopefully we can get it moving. I reached out to cryptopay today and worldpay for merchant account. Seems the merchant account will be what takes the most time

 

[cbchevy4x4]

Great. Thank you for the process outline. Hopefully we can get it moving. I reached out to cryptopay today and worldpay for merchant account. Seems the merchant account will be what takes the most time

The last account i set up at worldpay took me 3 days. this in was march of 2023

 

[schnapdragron]

We just did this. 2 days to get the world pay account and same day transfer once we filled out the buyer / seller forms. Once the forms were emailed we just called from the site to get the transfer done

 

[864real]

Yeah, got it closed and transferred over. I would say anyone going to do this, Get bank account setup, go ahead and get worldpay going as soon as you felt confident the purchase was going to happen. Mine happened just like schnapdragron's did as well. Started Wed and by Friday it was moved over.

Thanks everyone