Dumb Q, but is it safe to give PayPal your SSN?

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mollah

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I've got a bit more than $500 in my account and I'd like to transfer it all to my bank account this month.

In order to transfer more than $500 per month, PayPal requires either a) your SSN or b) you have to get a credit card with them (which I'm not interested in).

I know they're a legit company, but are there any downsides to giving them my SSN?

Like will they report my earnings to the IRS if they have my SSN?
 
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What if I don't have a business account or an EIN number?
 
If you have a verified account you have no limit, So just get a vvc and add your bank account.
 
I have a verified account. I also have my bank account added, but their rule is you can only transfer $500 per month into your bank account unless you a) give them your SSN or b) get a PayPal credit card or something, and I definitely don't want to do b)

What is a VVC?
 
mollah said:
I have a verified account. I also have my bank account added, but their rule is you can only transfer $500 per month into your bank account unless you a) give them your SSN or b) get a PayPal credit card or something, and I definitely don't want to do b)

What is a VVC?
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Can't help you much with paypal, but a VCC is a virtual credit card.
 
I gave paypal my social sec. # actually it wasn't my ssn but my ein that I got from the IRS its free you should do it and you get it immediately almost.....
 
and if paypal has you SSN, and something goes wrong and your account is negative, they can give you bad credit, if they have your SSN. Happend to a few people I know of.
 
You should NEVER give out your SSN. Like the other folks have stated, go the EIN route - you'll be far better off...
 
Don't give them your SS#. Get a Simon Giftaccount or some other gift card and add that instead to lift the $500 limit. No need to use your personal credit/debit cards :)
 
LoL I never gave them my SSN and get payments frequently. CANADA FTW! :D

I'm guessing you're in US?

No harm in giving it I guess I mean I gave them my bank details myself so :rolleyes: ...
 
Silencer said:
LoL I never gave them my SSN and get payments frequently. CANADA FTW! :D

I'm guessing you're in US?

No harm in giving it I guess I mean I gave them my bank details myself so :rolleyes: ...
Click to expand...

Much more dangerous to give out your SSN since they can now give you bad credit and even have judgments issued against you if you go negative.

Worse case with a bank account, I close my bank account. :D
 
If you add a Credit card or VVC and a Bank account, you have no more limits, there is no need to add a EIN or SSN.
 
Wow. Yea I put in my ssn a long time ago and got banned from egay for csing and I didn't pay the posting fees at all. My old pp account is in negative. So they can submit my negative to creditors? That is horrible!!!
 
It's never safe to give ANYBODY the SSN the government assigned you (it's NOT "your SSN"). Do the above stated alternatives or create a non-US PP account (get an offshore maildrop to do this, verifiy with VCC). An SSN allows your money transactions to be tracked, assessed, reported or frozen. Don't give third parties the ammo to mess up your financial privacy or access to your funds!
 
What is an EIN number? I didn't even see that option on PayPal. How do I get one?

And the other option is adding a CC. wtf does that even mean? Add it to what? My PayPal account? What would that do? Why would anyone want to do that?
 
An EIN is a federal business identification number that you have to apply for. Google.

With regards to PayPal and the IRS, I believe that beginning in 2011, PayPal will be federally mandated to begin reporting earnings to the IRS upon request.
 
mollah said:
What is an EIN number? I didn't even see that option on PayPal. How do I get one?

And the other option is adding a CC. wtf does that even mean? Add it to what? My PayPal account? What would that do? Why would anyone want to do that?
Click to expand...

EIN is the same principle of your SSN. Google for it. Only get it from a .gov site.

CC = credit card... have you been reading this thread? To lift the limit on your Paypal.
 
I know CC = credit card.

I'm saying I don't want to tie a credit card to my PayPal account. What supposed "benefit" does that provide?
 
mollah said:
I know CC = credit card.

I'm saying I don't want to tie a credit card to my PayPal account. What supposed "benefit" does that provide?
Click to expand...

Okay, all you gotta do is call the IRS and they will give you a brand new EIN over the telephone - no waiting. They are easy to get.

Once you have one - they are nine digits just like your social security number - you can use them anywhere that asks for a social security number. Just substitute your EIN instead of your social.
 
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