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Old 08-20-2014
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Default Upgrading to Business Account

I received email from PayPal stating I can't receive credit card payments unless I upgrade to a business account. Is it safe to upgrade to an business account? Account is 2 weeks old. This is a stealth account so I can't provide SSN. No bank account attached yet. Only credit card.
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Old 08-20-2014
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Default Re: Upgrading to Business Account

Yes its safe to upgrade to business account. So people do it when first registering the account.

I would also add a bank account to paypal before you start receiving payments.
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Old 08-20-2014
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Default Re: Upgrading to Business Account

Be sure to add it as an LLC. Sole proprietor or partnership will still cause you to provide a SSN if you hit the 200 item or $20k threshold.
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Default Re: Upgrading to Business Account

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Originally Posted by bjammin View Post
Be sure to add it as an LLC. Sole proprietor or partnership will still cause you to provide a SSN if you hit the 200 item or $20k threshold.
Do you need an EIN right away for that?
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Old 08-21-2014
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Default Re: Upgrading to Business Account

No it will give you the option to add it or wait, I personally think it's better to wait, because if your account gets banned , there goes another tax ID burned

Just have everything ready if you plan on selling a lot on on account that way when,they do ask to provide the tax ID your able to plug it in right away and have no interruption in sales
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Old 08-21-2014
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Default Re: Upgrading to Business Account

Quote:
Originally Posted by ebaystinks1784 View Post
Do you need an EIN right away for that?
start getting ready for the future.

Look at working options.

check what steps to take to avoid the worry of supplying an SSN.

(they exist )
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Old 08-21-2014
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Default Re: Upgrading to Business Account

OP: this is pretty normal as it'll happen eventually.

So just upgrade it to a business account.

THen apply for EIN now. But make sure that the EIN name is the same as the business name on the paypal info you put in. I use the name of my eBay ID so it all matches.

One day when they request more documents, you'll have the EIN ready and you can easily submit it.
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Default Re: Upgrading to Business Account

Nice preparatory tactics. I like that. Gonna keep that one filed away in case I ever get in to using EIN's.
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Default Re: Upgrading to Business Account

Oh trust me, you will eventually...
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Default Re: Upgrading to Business Account

Quote:
Originally Posted by fox20c View Post
Nice preparatory tactics. I like that. Gonna keep that one filed away in case I ever get in to using EIN's.
Just remember they ask for tax ID when your on Pace to go over both 200/20,000

So depending on how you sell will determine when u get asked, in the past I would get asked around 150/$4500, but I would baby the account for 3 months and than once the holds lifted and limits raised I would than make $3000 of that 4500 in one month

So be prepared
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