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Personal account 24% hold, EIN?
 

I have had a stealth personal account working very well for years and PP recently hit me with a funds hold and a message about the 24% hold needing my SSN. I don't have a SSN for this account that will match the name. I do have a EIN for the tax purposes. It doesn't seem like they will take the EIN. I tried to upgrade to a business account but they also wanted a SSN. Any ideas on how to fix this mess?

Re: Personal account 24% hold, EIN?
 

Even with a biz acc when they ask for SSN, I still use EIN.

Re: Personal account 24% hold, EIN?
 

have to keep pushing that EIN

Re: Personal account 24% hold, EIN?
 

Update account for business and use EIN
But I don’t know if sales will be profitable if you pay 24% now

Re: Personal account 24% hold, EIN?
 

Thank you all for the tips.

I tried to update to a business account. It wanted a SS to make the update. I entered the EIN and it wouldn’t accept.

I did however try to add my tax ID on the personal account and when I put EIN in the SS box it gave me an error. A link appeared asking you want to use EIN instead. Directions were to send a W9 form to a PP email address. That sounded simple

My question now is the EIN is in my real name. The PP isn’t. Do I use my real name on the w9 form and send to PP? I don’t think it would be smart to use the stealth name on a w9?

Does not seem I can use EIN in the SS box on the site as I had hoped.

Re: Personal account 24% hold, EIN?
 

just switch to paypal in smaller countries where US bank accounts can be used , this way SSN or EIN will never be asked for , no tax forms too

Re: Personal account 24% hold, EIN?
 

which "small" countries do you recommend?

Re: Personal account 24% hold, EIN?
 

seems a bit more difficult to get that us bank account onto the smaller country pp's these days - no? i havent tried in ages

Re: Personal account 24% hold, EIN?
 

You can go to Paypal where it lists all the countries it does business with,I will avoid Carribean countries and SE Asia countries like Vietnam,Cambodia,Philipines and Eastern European countries,Middle East and African countries.
take a look at Hong Kong,Mexico,or even Northern European countries.

Re: Personal account 24% hold, EIN?
 

you can take small countries where paypal do not want to set up infrastructure , for example all small european countries which are outside the EU with a couple of exceptions , andorra , armenia , gibraltar and many more

Re: Personal account 24% hold, EIN?
 

forget HK and Mexico , it must be countries small and not important enough to set up any local infrastructure there , in such countries USA bank account is the only way to withdraw apart from debit card withdrawals

Re: Personal account 24% hold, EIN?
 

Since she has a US bank account,that should be fine with Paypal depositing money into her account.
But to open an account in a foreign country,does she have to give a foreign address,and what about return shipping address,can it be a US address? if a buyer wins a dispute and Paypal would expect him to return with tracking

Re: Personal account 24% hold, EIN?
 

what do you mean by local infrastructure>You mean bank to bank clearance ?
WIth small country,this is what Paypal has to do.I dont know if it has improved,but at one time Paypal has to wiretransfer (swift )to Vietnam and thats cost $35,it had problem with Philipine Central Bank and Carribean countries may not even have a central banks,and with Eastern European coountries ,it used VISA Europe and have to Pay Visa Europe a fee.

Re: Personal account 24% hold, EIN?
 

for example you take a small country with weak economy like Armenia , they do not offer local currency and do not have any representation there. there you can use USA bank account

return address does not matter , of course verification may come it is better to be prepared with docs but the advantages are tremendous because it runs like paypal usa but without ssn , ein , tax returns etc.

Re: Personal account 24% hold, EIN?
 

If you have a US bank account,you can use it in most countries Paypal is offered,why>
BEcause Paypal is a US company,it has accounts in many US banks to facilitate ACH (AUTOMATED CLEARNING HOUSE),it does not matter where you are physically,it matters where your bank is.
if you are a seller and accepts Paypal payment,you should look into your Paypal address,esp your return address in case a buyer wins a Paypal dispute and Paypal asks him to return the item back to you with tracking.
I am sure OP does not want his buyer to return the item to Armenia,but where he runs his business (USA).
This has been a problem with Ebay sellers arbitraging ,listing an AMZN item and asks AMZN to ship the item to his EBAY "FRIEND",when the buyer files INAD,Ebay will send him a shipping label to return the item to the seller home address,not back to AMZN.