So if my paypal becomes SSN verified, does it mean I can get passed the 20K limit without any problems? Or do they still question me when I hit that amount?
Just wondering how the whole thing works when you verify the ssn.
Btw, do your seller limits increase in eBay if you have SSN verified?
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Re: SSN Verified Paypal...what does it really mean?
The SSN will get you past the 20k limit and you'll get the relevant tax forms to file at the end of the year.
You do NOT get an increase to your selling limit - it has nothing tto do with thowe limits as they are on the eBay side of things.
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AGED SUPER HIGH LIMIT ACCOUNTS: 10,000/$1,000,000 and 25,000/$500,000
Re: SSN Verified Paypal...what does it really mean?
Quote:
Originally Posted by GreenBean
Never assume.
paypal USA ask for tax info on projected sales. Lowest I have seen is $5000.
Tell your cousin to join up. We prefer to not do 3rd party advice.
I got hit with $3000... Something flagged me... Added EIN and Bank to both PP and ebay and got 27k limit.... crazy cause I have accts that have been $1000 limit for years....
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"Mark 11.24 Whatsoever ye desire, believe that ye have it, and it is yours"
Re: SSN Verified Paypal...what does it really mean?
I have been testing using bank as payment option for ebay.... then switch it back to paypal. ebay makes a deposit of 1 cent.... There has to be logic to it....
__________________
"Mark 11.24 Whatsoever ye desire, believe that ye have it, and it is yours"
Re: SSN Verified Paypal...what does it really mean?
Does paypal check EIN info just for the IRS requirement or do they also use it to link accounts? I have a clean business name and EIN, but the address matches a suspended ebay personal account address. I do still have a clean paypal with that address...
Re: SSN Verified Paypal...what does it really mean?
I've had a stealth canadian paypal for over 6 months. I've had all my payments sent as gift and i've prob withdrawn well over 15k from it. I've also well surpassed the 200 transactions. This is also using a Los Angeles IP. I've never had one email requesting any information like that. Knock on wood. Im not saying the account is invisible. I just got my first dispute yesterday after 6 months. It was an honest mistake from the buyer and he had said that someone else had access to his account. I quickly refunded him and he told me will resend payment once its refunded ($15). Good luck
Re: SSN Verified Paypal...what does it really mean?
Quote:
Originally Posted by RichardCard82
I've had a stealth canadian paypal for over 6 months. I've had all my payments sent as gift and i've prob withdrawn well over 15k from it. I've also well surpassed the 200 transactions. This is also using a Los Angeles IP. I've never had one email requesting any information like that. Knock on wood. Im not saying the account is invisible. I just got my first dispute yesterday after 6 months. It was an honest mistake from the buyer and he had said that someone else had access to his account. I quickly refunded him and he told me will resend payment once its refunded ($15). Good luck
Gift payments do not count toward 1099k Nor do echecks, paypal credit or paypal balance transactions. ONLY credit card processing counts.
Re: SSN Verified Paypal...what does it really mean?
Quote:
Originally Posted by PaMike
Does paypal check EIN info just for the IRS requirement or do they also use it to link accounts? I have a clean business name and EIN, but the address matches a suspended ebay personal account address. I do still have a clean paypal with that address...
I am also in the same situation. I have an LLC but my address matches my suspended address along with my suspended first/last name.