Re: PayPal Ask beneficial owner information
Forgive me if I am not posting this in the correct area as I have never posted in a forum before. I received the following message as well just like many of you and I tried to provide them with the info but when I start and get to the second questions about what kind of business I am, there is on a button that says continue and then it boots me back to enter my name, it keeps me going in circles... anyone else have this issue? I cannot get thru to anyone at customer service as they want me to verify my SS# which is not associated with my account as I am a nonprofit and there is no one in the company that has any ownership of the nonprofit. I am so confused!
As we mentioned in an earlier email, we need to collect some information about your beneficial owners of your business because your card sales have increased. A beneficial owner is each person who, directly or indirectly, holds 25% or more equity ownership of your business, or a person who has a controlling influence in your business.
Please provide this information by January 11, 2020. If we don’t receive it by then, we'll need to limit your account, and you won’t be able to receive payments.
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