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Dacubs
03-19-2019, 09:54 PM
Well, logged into paypal for the first time in awhile...looks like I can't use my paypal balance until I provide my SSN.

I'm assuming they need it for tax purposes....

Any other options that I can do instead of giving up my SSN?

Thanks
cruiserdaddy7
03-19-2019, 10:05 PM
They changed it. You can't use any existing balance, only transfer it to your bank account.

You either enter the SSN, or add bank account and transfer it there.
Dacubs
03-20-2019, 06:21 AM
They changed it. You can't use any existing balance, only transfer it to your bank account.

You either enter the SSN, or add bank account and transfer it there.

Thanks....I hate entering my SSN out there....it's probably been out there enough as it is with all the other online stuff...but I also want to keep my card money and bank money separate...

guess I'll have to think about what I wanna do...

Thanks
hche
03-20-2019, 11:49 AM
Paypal is a financial institution. It is required by law to collect customer identification information. There is no difference than opening a bank account online. If you sell enough, they are required to send you a 1099-K. So SS# is a must have information for Paypal now. They have no choice.
shrevecity
03-20-2019, 12:18 PM
Its only a matter of time before everyone starts getting a 1099s from Paypal. If you are in Mass I think they have to send it at 600 dollars now.
hche
03-20-2019, 12:26 PM
Its only a matter of time before everyone starts getting a 1099s from Paypal. If you are in Mass I think they have to send it at 600 dollars now.

I just read and it started for 2018 sales. For now, seems like Mass and Vermont are the only 2.
harlem86
03-26-2019, 10:44 AM
Thanks....I hate entering my SSN out there....it's probably been out there enough as it is with all the other online stuff...but I also want to keep my card money and bank money separate...

guess I'll have to think about what I wanna do...

Thanks

There is a provision where you can do business under a federal tax ID number. In fact if you pay payroll taxes on behalf of employees you have to have Federal TIN. However you have to file two sets of income taxes I believe- business and personal.

This wont solve all security issues but it would keep your personal SSN from being out there in the stratosphere of the internet.