topprospects
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posted on October 6, 2000 05:36:35 PM new
PayPal is planning to introduce money market rates of return for PayPal balances in November. Thus, they will need your social security number to meet IRS reporting requirements. Will you provide your social security number?
I for one would rather receive no interest than provide this. I used to love PayPal but now only accept it as a last resort accomodation for customers. There are just too many payment options out there for me to do business with a company with highly questionable business ethics. Seems like PayPal has enough of our information already and this is one piece of the puzzle they will not be receiving from me.
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keziak
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posted on October 6, 2000 05:57:17 PM new
Nope. I guess they really want people to keep money in their accounts, so they are offering the enticement of paying interest. But I already have a bank.
Keziak
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dman3
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posted on October 6, 2000 06:22:09 PM new
If I was gonna sign up for a business account with paypal I would give them my SS # to get interest on balances.
But I dont come close to $500 in 6 months in credit card payments through paypal as of yet.
as I see it there is not a lot of payment options if I was to go with any other even though there is a fee I would go with propay you get your buyer CC number and you run the number just like any merchant credit card account the buyer dont have to be registered to use this service at all just the seller.
this makes it less confuseing then the paypal simple as sending email CC payment system. and there is no annoying get $5 for signing up banners no angry sellers getting email telling them to sign up to get there payment.
Just straight forword you want to pay with your CC send me your number to verify it 
WWW.dman-n-company.com
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VeryModern
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posted on October 6, 2000 06:28:53 PM new
I will give then the SSN of my fake dog, that's about it.
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kerrydaway
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posted on October 6, 2000 06:35:00 PM new
Not a chance!
[ edited by kerrydaway on Oct 6, 2000 06:35 PM ]
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vargas
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posted on October 6, 2000 07:08:44 PM new
Nope. Don't trust 'em. I don't want the interest anyway. I have a bank account that pays 6%.
My money will surely earn more there.
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radh
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posted on October 6, 2000 08:19:08 PM new
Will I whaaaaaaaaaT?
 lololololOLOLOLOLOLOLOL!!
Surely you jest!
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macandjan
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posted on October 6, 2000 08:26:45 PM new
Sure why not? It has been out there so many places for so long that any of your grade school kids could probably find it for you in one evening. What's one more? They should just rename it my Federal ID number and acknowledge reality.
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mzalez
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posted on October 6, 2000 08:37:11 PM new
Naw, I wouldn't give it to them.
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anothertreasure
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posted on October 7, 2000 03:58:02 AM new
I still have my original card that says "Not to be used for identification". Hoo Hah!
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macandjan
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posted on October 7, 2000 04:45:47 AM new
So do I anothertreasure. My first documented lie from the government 35 tears ago.
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HJW
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posted on October 7, 2000 06:33:31 AM new
No, I will not give PayPal any information.
In fact, I am still worried about the information that I gave to PayPal before I
cancelled PayPal.
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abingdoncomputers
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posted on October 7, 2000 10:33:14 AM new
There are two aspects to this question.
1) Would I provide my SSN to any financial services company that needs it if I plan to use a service that requires it?
Yes, we all do it all the time when applying for credit cards, bank accounts, insurance policies, etc. After all, YOUR SSN is pretty much public information at this point in time. If I want it I can get it in a matter of minutes on the web.
2) Would I give my SSN to PayPal (at this time)? I would have given it to them in 3 seconds if they had chosen to do a REAL verification of users with a credit check.
This is a standard business practice for any real financial services company. But because of their unbelievable choice of a "verification" scheme and the fact that they can't speak without adding a few inches to their nose, they have proven themselves to be something less than a real financial services company. Therefore, as of NOW the answer is:
Not a chance! Not because I would be worried about the security of my SSN, but because I don't plan on keeping any money in my PayPal account to draw interest on.
[ edited by abingdoncomputers on Oct 7, 2000 10:37 AM ]
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barkrock
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posted on October 7, 2000 10:48:52 AM new
No.
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gc2
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posted on October 7, 2000 10:53:07 AM new
I plan to give Paypal my SS# when they host that customer-appreciation ice-skating party in hell.
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bldrdrms
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posted on October 7, 2000 10:57:58 AM new
NO, Nunca, Nada,NYet,nevah
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unknown
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posted on October 7, 2000 11:02:46 AM new
CAUTION
If it's a business account.
Then All of the deposits will be considered income by the IRS, not just the interest.
We are a business and we declare all of our sales as business receipts.
But many others are legitimately doing this as a hobby, but Paypals guidlines will put you in the category of a business, and thereby making the defualt IRS decision that it is business income (Taxable) unless you can prove that it is not.
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Borillar
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posted on October 7, 2000 12:18:00 PM new
NO!
Not now, not ever!
If we're forced to do it, I'll simply cancel my accounts there and stop accepting PayPal payments.
PayPal is NOT a Bank or other financial institution under rigorous regulations. I no longer trust or believe a damned word they say - their word is no good. If your Bank sold all of your personal info, that Bank would be sold to new ownership and the old owners prosecuted. But NOT PayPal!
Don't you see the difference?
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lalatte
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posted on October 7, 2000 06:57:09 PM new
not just NO! but HELL NO!!!!!!!!!!!
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tomwiii
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posted on October 7, 2000 07:01:39 PM new
They'd have to pry it out of my cold dead fingers! Or, whatever!
Sad to say, PayHell sucks and Musk Smells!
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ktsclutter
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posted on October 7, 2000 07:20:52 PM new
Your social security card states right on it that they are not to be used as means for identification. Government double speak.
Macandjan says: "They should just rename it my Federal ID number and acknowledge reality."
I'm in agreement, although some might refer to it as the mark of the beast. It will be tattoed onto our hands to make identification more simple when it comes to buying and selling. Just scan that hand across the grocery scanner, or wherever you need to do business, and poof, payment debited right out of your "world" bank account.
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napcruz
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posted on October 7, 2000 07:31:22 PM new
When Pigs Fly!!!
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rumpleteaser
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posted on October 7, 2000 07:33:17 PM new
Never!
Our State uses Social Security numbers for Driver's License numbers unless you take the time to "opt out". I didn't give the State my SS#! Why in the world would I give it to Paypal?
I am also doing like others: limiting my Paypal activity by only using it when the buyers insist.
Paypal has taken the wrong road with this one!
Rumple
[ edited by rumpleteaser on Oct 7, 2000 07:33 PM ]
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furkidmom
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posted on October 7, 2000 08:47:50 PM new
PayPal wants entirely too much information for my liking. What will they want next? A DNA sample? No, I draw the line with this garbage. I am just waiting for them to do one thing out of order with me, and I will drop them like a bad habit, and tell everyone who will listen why.
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quickdraw29
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posted on October 7, 2000 09:31:29 PM new
I'm losing faith in this company faster than the guy who sold me a fake "diamond."
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magazine_guy
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posted on October 7, 2000 11:00:16 PM new
Nope. I'm planning on doing less business wiht PayPal in the future, not more.
PayPal had it all- and managed to snatch defeat out of the jaws of victory.
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ioughta
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posted on October 7, 2000 11:38:20 PM new
Sure! If they will give me a zillion dollars...Actually, they doing in a nano-second what Pierre did in stages - a looong slow "aww c'mon,it's only a dollah!" but Paypal is right in our face with greed now - They want to bloat-the-float they already have by offering interest - which of course generates tax debt, which of course is open to IRS investigation!! I like soft music and candlight before I get xxxxxxed
Think I'm going back to good ol money orders and checks reeeeaal soon here. We've invited too many pie-sharers, vultures, parasites whatever you can call them and we should be busy listing and making $$$$$$ not debating whether this service or that service is legit. Fer as ah can see...they are all salivating at the diverse ways they can manipulate the $$ WE GENERATE.
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mseal1
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posted on October 8, 2000 03:32:04 AM new
Didn't PayPal originally verify users by getting their credit card info and then mailing you some kind of verification number to enter on their site? That's what I recall doing.
If my memory is correct, then I expect that this new requirement of a bank account for "verification" is another intermediate step to some final end. I don't really see how it would benefit me...you can look at my eBay feedback and see I'm not scamming anyone.
I realize that they are in business to make money, but the longer I'm associated with them the more I feel deceived regarding their service and promises.
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toomanycomics
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posted on October 8, 2000 08:35:13 AM new
nope
whenever internet company ask for that
I dump them like a hot potato
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bldrdrms
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posted on October 8, 2000 02:19:22 PM new
Tee interest generated will get you a 1098 from paypal at year end.. The IRS will be happy to see where that came from. An audit of your PayPal activity will not be far behind.. A call to Ebay and guess what..... Your entire sales history will be audited. Hobby seller or not. You will be invited to explain it all to the IRS. Is PayPal worth it?
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