Paypal signup advice needed

[Gorechick]

I recently signed up for a Paypal account but have not activated yet. I got nervous about entering my Social security info. Is it a legitimate part of the process?

 

[davedmaine]

I recently signed up for a Paypal account but have not activated yet. I got nervous about entering my Social security info. Is it a legitimate part of the process?

Yes

 

[Gorechick]

I'm only planning on linking to my credit card so I can make purchases. Do I need to link to a bank account?

 

[smbowtie]

I have used PayPal for years. They are totally legit. You don't have to use your bank account, a credit card is all you need.

 

[LaurLaur04]

Love Paypal. Even have a Paypal debit card to get cash back. Awesome people and handle disputes and fraudulent charges quickly!

 

[disneychrista]

Be careful. I had my Paypal account hacked twice, causing my bank account (separate one just for Paypal) to be overdrawn twice (because the processed a second time when the first one didn't work). After that I closed my account and now refuse to use it or eBay (since you have to use Paypal to make payment)

 

[scrapquitler]

I'm only planning on linking to my credit card so I can make purchases. Do I need to link to a bank account?

No you don't.
I've been using PayPal for about 10 years and have it linked to my credit card only. I have never ever given them my ss# or bank account number and I never will.

 

[wiigirl]

I have used PayPal for years. They are totally legit. You don't have to use your bank account, a credit card is all you need.

 

[timmac]

As for why they ask for it, any balance you hold in your paypal account can sometimes gain interest, and some of their offerings like the Debit Card offer a % cash back... your SS# is needed for tax purposes for things like this.

 

[cats mom]

I believe it's new IRS rules that prompted PP to start asking for a SS# when signing up. I opened my account years ago and didn't have to provide it back then.

Now if you hit 200 payments and $20,000 in sales in one calendar year they have to send a report to the IRS, so I guess they figure it's easiest to have the info on file from the start.

I got close to the 200 payments last year and every time I logged in I got a notification asking for my SS# and saying my account would be limited if I didn't provide it. I was nowhere near the $20,000 though, and I knew the rule was both, not either/or, so I just ignored the notice and after the new year it fell off.

As much as I love the convenience of a PP account I don't know that I'd open one if providing a SS# is a requirement now.

 

[JB2K]

I recently signed up for a Paypal account but have not activated yet. I got nervous about entering my Social security info. Is it a legitimate part of the process?

Very much so, as PayPal, like our banking system, has to go through certain verification procedures to comply with the U.S. Patriot Act.

 

[lyncecelia]

I have to say. I love Paypal!

Both DF (who has already responded to this thread) and I have the Paypal cards. The money comes straight from our banks, but we get 1% cash back (doesn't sound like much, but since he uses his for rent, it can equal a free $20-$30 a month! I usually get around $5-$10). The card also adds an extra barrier of protection. If someone swipes our PP card number, it gives us a couple of days to straighten it out before it hits our bank and we don't need to order a new bank card.

Like he said above, it's purely for tax purposes. I was worried at first too, so I let him test it . We both love paypal!