How to upgrade to a BUSINESS PAYPAL w/ EIN number
Ok so I think we need a updated thread pertaining to this topic.
The old stealth strategy was one opens a regular personal paypal account, wait until you get the request for tax id, then upgrade to business while supplying the EIN # as either a LLC or S Corp.
I don't know when this came into full effect but when trying to upgrade to a business paypal no longer allows one to do so because they "limit the account from being able to close"
Its a catch 22 because if you add the EIN the limit goes away but you can't add the EIN while upgrading to business because your limited.
I've PM'd a couple members and have heard some contradictory answers so here's what I know....
The only way I know but I haven't tested myself is when adding the EIN you can also add the 4 last EIN for the S.S. I'm strictly talking when paypal asking for your tax id not that your account is FULLY limited for instance I'm only at about 160ish sales and 7K gross but they are requesting my tax id off the 7K
Not even half way there and have been using this since the start of the year.
Whatever but I think we either need to figure out some strategy or come to a consensus on how one becomes an actual business account with EIN. As far as I'm concerned once this is set up and in place, its just as good as a REAL account meaning although they still can ask for S.S anytime the chances go down and your account no becomes ALOT stronger with the EIN attached.
Shootout to Jeff, I'm waiting .....
haha
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