New Paypal Business Stealth Account

[toofun]

I've just opened a New Paypal business Stealth account following all the procedures of Stealth. I have a valid EIN Number and entered it into Paypal during setup. The account is opened now but in my Notifications it says "Please provide documents that confirm your business identity"

I've never had to do this with any of my past business accounts?? What do I do? The EIN doesn't match the Stealth Name or Address on the account?

Thank you so much for any info you can give me.

[toofun]

Also, the account is not limited. I just made the account so it's brand new and asking for this info.

[phaz0rz]

There's no such thing as a stealth business account. The account loses it's "stealth" status when you give Paypal an EIN. There's nothing stealthy about having a tax ID on an account which is tied directly to yourself.

Others have posted about this too recently. They're probably tightening security around business accounts as they roll out the "claim it" feature.

Anyway, I don't know what you can do at this point. But the next time you make an account you're planning to turn into a business account, just use real information so you're able to submit docs when they ask. A business account created with an EIN wouldn't be linked back to any of your old personal accounts.

[toofun]

Originally Posted by phaz0rz

There's no such thing as a stealth business account. The account loses it's "stealth" status when you give Paypal an EIN. There's nothing stealthy about having a tax ID on an account which is tied directly to yourself.

Others have posted about this too recently. They're probably tightening security around business accounts as they roll out the "claim it" feature.

Anyway, I don't know what you can do at this point. But the next time you make an account you're planning to turn into a business account, just use real information so you're able to submit docs when they ask. A business account created with an EIN wouldn't be linked back to any of your old personal accounts.

Thank you!! I was thinking about getting "creative" since I really don't have much to lose?

[phaz0rz]

Originally Posted by toofun

Thank you!! I was thinking about getting "creative" since I really don't have much to lose?

Might as well..

[Bigcheeze45]

Does this go for LLC as well?

[toofun]

Originally Posted by phaz0rz

the next time you make an account you're planning to turn into a business account, just use real information so you're able to submit docs when they ask. A business account created with an EIN wouldn't be linked back to any of your old personal accounts.

When you say use real information when creating my next business account ... I can use my name and address even if I'm perm limited with paypal and it won't be linked back to my personal account?

[degsey69]

For the future, I do not recommend opening a Business account straight away, open a personal account and get a good few sales through it and when you reach either $15,000 or 160 sales convert he account before they ask for SSN information.

If there is chargebacks or issues on the PayPal account it will convert with no need to give the information they are asking for as you have proved yourself.

[Bigcheeze45]

Does this Info apply if you're using an LLC?

[Kajunrook]

Originally Posted by degsey69

For the future, I do not recommend opening a Business account straight away, open a personal account and get a good few sales through it and when you reach either $15,000 or 160 sales convert he account before they ask for SSN information.

If there is chargebacks or issues on the PayPal account it will convert with no need to give the information they are asking for as you have proved yourself.

Well that sounds great BUT I opened a regular acct and selling $56 they asked for my tax ID, yes $56 in 3 months. Selling generic items. So I logged on and got an EIN and the minute I uploaded they asked for business info including utility bill to the address listed on paypal. Thank goodness I did not have a bank acct attached or would have burned that. Too much effort to claim my $56 so I just ignored everything and moved on.

[ConfisTati]

In such cases, it is better to have a financial adviser. A specialist, in this case, will help you distribute finances correctly and scatter them across several accounts so that you don't have any problems. I just had issues with PayPal. Since money was constantly coming to my card, it always aroused suspicion from the bank. Bank employees called me periodically to find out why such amounts of money come to my account. It's clear that this was annoying, and that's why I asked for help from hensoncrisp.com. The financial consultant helped me to scatter certain amounts of money to different accounts.