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

Discussion in 'Making Money' started by mollah, Oct 18, 2009.

  1. mollah

    mollah Power Member

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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?
     
  2. ezcashplus

    ezcashplus BANNED BANNED

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    ^^^Totally agree with above statement.
     
  3. mollah

    mollah Power Member

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    What if I don't have a business account or an EIN number?
     
  4. thatguy11221

    thatguy11221 Newbie

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    If you have a verified account you have no limit, So just get a vvc and add your bank account.
     
  5. mollah

    mollah Power Member

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    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?
     
  6. adrien23

    adrien23 Regular Member

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    Can't help you much with paypal, but a VCC is a virtual credit card.
     
  7. noob411

    noob411 Junior Member

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    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.....
     
  8. nerrvana

    nerrvana Junior Member

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    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.
     
  9. tivowatcher

    tivowatcher Junior Member

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    You should NEVER give out your SSN. Like the other folks have stated, go the EIN route - you'll be far better off...
     
  10. jmason616

    jmason616 Regular Member

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    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 :)
     
  11. Silencer

    Silencer Senior Member

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    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: ...
     
  12. 420florida

    420florida Junior Member

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    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
     
  13. thatguy11221

    thatguy11221 Newbie

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    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.
     
  14. Axelian

    Axelian Regular Member

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    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!!!
     
  15. zebrahat

    zebrahat Elite Member

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    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!
     
  16. mollah

    mollah Power Member

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    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?
     
  17. oldenstylehats

    oldenstylehats Elite Member Premium Member

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    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.
     
  18. Jared255

    Jared255 Jr. Executive VIP Jr. VIP Premium Member

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    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.
     
  19. mollah

    mollah Power Member

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    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?
     
  20. 420florida

    420florida Junior Member

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    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.