New Paypal requirement?
 

I've recently been asked for my Social Security # from paypal. I'm sure most of you shop online and use paypal. I can no longer transfer money from my bank acct to my paypal acct. Now....if I have to use a credit card I may as well use the credit card in the first place. My bank has my SS#, and all other info to prove who I am. I'm not asking Paypal to loan me money....they make money by charging the retailer to use the service, a convienience to us both. They do try to get me to apply for one of thier credit cards, another way to make money off me. I use a Debit card issued from my bank, acts just like a credit card online, there is no cost to me to use it, it comes directly out of my bank account, if I dont have funds I shouldn't be shopping...I WILL NOT GIVE THEM MY SOCIAL SECURITY NUMBER!!!

Have any of you encountered the same thing, and how do you feel about it?

A frequent online shopper, Viv

You need to call paypal i heard there is a fake paypal website do not give then your ss# report it.

If you use paypal as a seller, you've been being notified for over a year now that new government regulations require paypal to report to the IRS sales in excess of 20,000 dollars and 200 transactions per year. They need to have your SSN or tax number to report this to the IRS on form 1099-K. Since they don't know until after the fact whether you'll meet those thresholds, they require the SSN from anyone receiving money through paypal.

Here is the paypal information that explains it. This is not a hoax, this is the law. If you don't give them your SSN, they won't/can't allow you to use paypal to do business.

https://cms.paypal.com/us/cgi-bin/ma...ng_us/IRS6050W

I use Paypal to shop on line...received a notice from a paypal address asking for some bank info. or my account would be limited. I wasn't comfortable with sending the information asked for in the attachment so called Paypal. They were terrific. Said my account was fine and that they never send emails like that....asked that I send the email I received and I could not forward it as it had some kind of stopper on it. Just beware....

I agree it is a hoax. under no circumstances would they ask for you pension number. It has nothing to do with them. I have been different hoax things either letters or emails. the letters I burn the emails I now bounce back and block them. Check it out you see that we are right.

when ever you receive a message from paypal requesting anything you should not respond to the email- you should contact them directly- then you know you are dealing with them & not some hacker-
as QKO mentioned above the government has (forced) some new rules- not paypal's choice- but when the government decides things have to change it's hard to fight it.
but don't give your ss# to an email message- contact paypal and find out if they need information from you- and realize- it is not that they want to deal with more paper work- the irs wants to make sure they get their share...

If they really need something from you, when you log in to your paypal account, there will be a message there in the upper right. I would not act on any emails.

It is not an email I receive. It's when I log in to my acct. I can use Paypal, just not add money to my account. I am not a seller, I am a retail customer. I buy most of my fabric, tools, etc online as I live in a small town. I keep getting emails asking me to resolve the problem. I have called and talked to a rep and he explained WHY they need that info and I told him I was not asking for a loan and they didnt need my SS#, but he said it was government required....well not from me, I WONT!

I used paypal yesterday to buy, didn't need an SS, just to buy, but I do not sell so not sure if that makes a difference

I'd call PayPal again. Sometimes it helps if you speak to a different person. When you say they explained WHY they need that info, what was the reason?

I won't use my Kohl's dept store card because they now ask for your SS # to look it up. Haven't used it in years and it looks like I won't be using it anytime soon. Everyone wants your number but have no right to it. I emailed the Whitehouse about this but never heard a thing back. everyone should email there.

Any bank or financial company always tells everyone they never ask you to verify your password or any other information that is personal in nature, it's always a good idea if you get an email like that to double check on the phone with them if your unsure.
Even if Paypal wants your SSN for IRS purposes I would still get a live person on the other end of the phone and do it that way, I'd never send that kind of information over the net you never know if it's the right site or not.

He told me that the govt. was requiring them to get that info. I still contend that I'm not a seller and they dont need that info. I didnt have a problem until my paypal balance got low and I tried to add money to my acct from the bank acct I had stored with them....I opened a special acct at the bank just for paypal...kept only small amt in that acct to transfer to paypal after I got scammed for $800 last year. paypal did reimburse $600 of my money in just a few days, but over 30 days for the original $200 charge....at that time I removed my credit card # from paypal and opened up a new acct for that and never kept over a few hundred dollars....sure didnt want anyone hacking into my main bank acct.

Guess I'm dense--don't understand why you are transferring into your paypal acct if you are using your debit card and paypal has your bank acct info. I let paypal do a direct transfer from my bank acct to pay when I buy something, and they have my cc info, as I understand it, so I can choose the way I want to pay---also as it was explained to me...''in event my bank balance doesn't cover the purchase". I have heard also that they have been ordered by the IRS to collect SSN's from people who sell, so their sales can be reported for tax collection. I do not sell, so it is of no concern to me. But you know you cannot fight "city hall". Sounds to me like the folks might have you confused with another customer. ?? But stay safe & communicate only with the valid Paypal.

aha..I've had an epiphany re the problem with your paypal acct. I think it might be because you are transferring money from your bank acct into the Paypal acct, and maybe it looks like you are receiving from somewhere else (as a seller would) and therefore the gov't would have reason to require your SSN. Just do as I and let Paypal do an electronic funds transfer (EFT) directly from your bank acct..ie. the special acct you set up with your bank.....instead of transferring cash to your paypal acct. Makes sense????

Duh....never thought to do that, I just thought I had to keep money in my paypal acct, and when it got low I'd transfer more funds from the bank to paypal....maybe they did think I was a seller, but all they had to do was look at my transactions....whew! makes me feel better. But now I regret even giving them my bank acct number, but it's also dangerous using a credit card to make purchases, just have to be very cautious I guess. I sure hate to think I'd have to give up online shopping...LOL

I have had the same issue's with PayPal that you have. I have had PP for many many years and so have my children and friends. Not one of them have been asked for their SS#. I get asked when I sign in to my account. I will not give them my SS#. If that means I close my acct. then I will. I only buy and give donations on PP, so they do not need my SS#.

There is a scam going on pretending to be PayPal, but it's not. Do not give any info. Just delete message. The same thing happened to me. Although I did report it to PayPal. ~~Ann~~

I only use my credit card when buying things, especially online. It is much easier to dispute if there is a problem and someone can't clear out my bank account. I don't use my debit card any more except at the ATM. I write the charged amount in my check register as I spend so that I can pay the full balance every month. Balancing my account is a little more difficult, but not bad. I just got a notification that I have reached my 12 year anniversary with ebay, and I think I set up my paypal account at the same time. I have never had a problem that was not easily remedied.

I only use paypal to buy, never sold with it, so I'm good!

You can do that but there is a delay in the seller getting the money. It is an E-check and takes days to clear.

I haven't heard of this. You may have a scam going on. If you got an email don't use that link to go to paypal; close your browser and reopen it and go to paypal on your own. When you log onto Paypal there is a message section that will let you know if they need anything from you. There are so many scams out there and paypal has alot of them. I get emails from them all the time telling me I need to update my account and to click on the link; some even tell me that if I don't they'll cancel my account. I've never done it and my account is still good. I got them too right after Wells Fargo went large and I haven't had an account with them in over 5yrs so I knew it didn't come from them..

This happened to DH awhile ago and the outcome was that PayPal closed his account and wouldn't let him open a new one because they had a problem with DH. Something like Catch 22.

I hve never had problems with paypal, but i would contact them and get a human voice

lINDA58--..if you are making donations, and plan to (or do) claim your donations on your tax return, then you WOULD need to give your SSN# for the claims to be validated. Personally, tho I have donated via Paypal in the past, I prefer to give to my own local charities...then I know where my money goes. So that may be the reason you are being asked for your #. I only purchase on line, and allow Paypal to draft my bank acct for the amt., and I've never had them ask for my #. I admit it is a bit of a hassle to get your paypal acct set up, but worth the trouble IMHO..I Love the option, and totally trust them.

Might depend on what kind of acct the seller has with Paypal..I assumed their money would be transferred to their PP acct...I buy, go to my bank acct on line and already the memo posting is showing. My feedback from sellers is excellent--they say "pays immediately". Once I ordered from ebay..never got notice from the seller and after several days I ck'd my acct at Paypal to see if he had accessed payment. He never had. I sent him email & got no answer, so I canceled the transaction. Still don't know what happened!

I refuse to give anyone my bank account info. PayPal has a "rule" "condition". If you spend a total of $5,000, you cannot use your credit card anymore... unless you give them your bank account number. That is $5,000 lifetime total transactions..I met that total a few years ago after using PP for 5 years....they immediately notified me that I COULD NO LONGER USE PAYPAL WITHOUT GIVING THEM MY BANK ACCOUNT INFO. I thought it was a hoax...called them...sure enough, it is their policy. I have not used Paypal since....of course, I couldn't anyway. They did say, I can continue to use my charge card, but they still needed my bank account number. All these folks are getting way too intrusive. Bad enough that the new healthcare law allows the government, and doctor's office access to all of your banking information including balances, savings, iras, all accounts!
D in TX

why don't you us a reload card . Just put money on and us that.

I guess I will never use paypal!!

There are two different methods, depending on how your paypal buying account is set up and funded.

An E-check is different than an instant transfer.Set up your paypal account with a linked bank account, as she apparently has, and every time you don't have funds in your paypal account to cover the purchase, paypal will tap your bank account for the purchase. With just a linked bank account, e-check is the option that will be used, and it will take 3-5 days for the payment to clear.

If you set up a second funding source, such as a credit or debit card, in addition to your bank account, you are able to use Paypal instant transfer to make your purchases. This is way better because as a seller, you don't have to wait for the money, and as a buyer, you are able to make multiple purchases. Some sellers, like ebay, limit your e-check purchases to one at a time, until the e-check clears.

So, to have maximum purchasing ability with the best protection and ease of use, you should set up your paypal buying account with two funding sources. You can use the bank account, and a debit card on the same bank account as your second source. Don't transfer any money from your bank account to your paypal account. When you buy, paypal will automatically tap your bank account for the money, an instant transfer will occur, and everyone is happy.

And with this method, you don't need to give your SSN to paypal, unless you start selling and collecting money through paypal. If you have a separate bank account for just online purchases, always remember to keep double the money in the account that you'll need to cover the purchases you are making. If you want an explanation as to why you need to do this, just ask... :)

QKO..you have done a great explanation of how a PP acct works! Very clear..& I see that my acct is using 'instant transfer', so that is why I am happy and so are my sellers. PP also has my credit card info, and I have the option to "tick" the method I want to use for a particular purchase. Sometimes for a large cost (machine or such), I will choose the CC option. Maybe I think it affords me more protection if I am buying from an ebay store. ?? I don't know that I am really more secure...but the instant buying can be so easy that it becomes addictive! That is spelled..ADDICTIVE! LOL

I've been using PayPal for years and have never received anything like this. This sounds like a scam to me, as well as the other post. Contact PayPal directly - not the number that might be provided in these emails.

I was a victim of a $2K scam years ago so I don't trust anything like these anymore. Scammers can create websites that look like valid sites, even include the BBB logo (which takes you to a bogus BBB site with positive feedback). Gee, how do I know this? I fell for the whole thing and signed up for an online course to learn web design. Over $2 million were scammed from many people and, yes, the crooks did end up in jail but we never saw a penny of our money.
Sorry for rattling on but please don't fall for these scams.

I agree with the advice already given. I have gotten stange emails from PayPal and called and they had me forward to fraud dept they have. I do not give SS number to a lot of people I deal with, even in person. I tell them I do not know the number and ask why they need it. Take care.

Sounds suspicious to me.

I recieved a notice like that a while back. I just deleted it and have no problems at all to purchase things. I heard some are a hoax and i don't sell to worry about the other point.

Well, this particular requirement, and the website I quoted, isn't a scam. They don't notify you in emails, as the OP stated she gets notified when she logs in to her paypal account.

If you do any receiving of money through paypal, or if you import money into your paypal account through bank transfers, you need to fulfill this requirement -- it's not a paypal requirement, it's an IRS requirement. Anyone who sells through paypal or, like our store, uses paypal as their merchant services provider, has been notified of this requirement for over a year.

It would be really nice if people researched this stuff, and commented with some understanding and knowledge, before just automatically assuming that everything that comes across their computer is a scam, and spreading misinformation. Sure, there are lots of scams out there -- this requirement just doesn't happen to be one of them.

Normally, if paypal wants to notify you of changes, they'll put a popup up that will appear when you log in to your paypal account. Sometimes they'll send an email telling you to log in to your account to see the changes. They won't include any requests to you for your login info, nor will they include links on their emails.

If you're in doubt about anything concerning paypal, first log in to your account, then contact them using the contact information found in their website.

Only merchants have to provide a SS#...if you are a seller, you are a merchant. You don't need it to buy using paypal. At least that's my understanding of the law.

Just purchased last evening---no request for me....I used my debit card.

Always call them yourself. Or go to their site, tell them what you got, and ask whether that's true. I can't believe they need your SS#.

Maybe I'm missing something here, but why go to all that trouble. Why not just use a credit card/