Why Does PayPal Need My Licence?

Why does PayPal need my driver’s license?

To help ensure PayPal remains a safer place for all customers to transact, and to comply with regulatory requirements, we may ask you to confirm your identity when you’re reaching a total transaction value of S$7,500..

Why does PayPal need my ID number?

When you add money for the first time, we’re required to verify your identity through PayPal’s Customer Identification Program. Verifying your identity builds stronger security for everyone in the PayPal network. It also allows you to use additional products and services, such as adding money from your bank account.

What documents do I need for PayPal?

To open a Personal account, you need to provide your first and last name, address, phone number, and email address. For your protection, you’ll create a password for your new account and select 2 security questions. After you sign up for an account, you can start receiving money right away.

Can I give PayPal my SSN?

If you are a seller using PayPal, you must provide a Social Security Number or a federal tax ID number (EIN) if you sell over $20,000 per year or 200 transactions per year using PayPal, whichever comes first. PayPal must, by IRS tax law, send you a 1099 form to report your income if you reach these levels.

How do I prove my identity on PayPal?

Proof of Identity The name on this document must match the name you’ve registered on your PayPal account. Acceptable Proof of Identity documents are: Driver’s license. Passport or passport card.

Can I remove my SSN from PayPal?

Your SSN is for identification and more, so if you remove yoru SSN you could no longer maintain PayPal identification, so you would need to close your account. Close your account like PayPal indiciates if you want to remove your SSN from the site.

What documents prove my identity?

Birth certificate.Social Security card.State-issued driver’s license/ID card.Requirement to carry identification.REAL ID Act.Passport and passport card.Department of Defense Identification Card.Other identity documents.More items…

What do I do if I don’t have my PayPal ID?

Re: Paypal asking for ID which I don’t have. That is as long as your paypal account is in your legal name and you are over 18 when you reach 180 days. Then you should get an email from paypal telling you that you can withdraw your funds.

Does PayPal report to the IRS?

Under the IRC Section 6050W, PayPal is required to report to the IRS the total payment volume received by US account holders whose payments exceed both of these levels in a calendar year: US$20,000 in gross payment volume from sales of goods or services in a single year.

How can I put money in my PayPal account without SSN?

Currently, you can send and receive small amounts of money via Paypal without giving in your Social Security Number. At a certain threshold, they’ll stop you and request your SSN and DOB. Under the new rules, it sounds like you won’t be able to have a Cash Account at all without inputting your SSN and DOB.

How long does PayPal take to confirm identity?

Select the “Confirm Instantly” button and provide your bank account login credentials on the next page. Otherwise, click “Confirm in 2 – 3 Days” to confirm your account by sending two small verification deposits.

What is PayPal ID number?

My PayPal account number When creating a PayPal account, you enter an email address. This email address is your PayPal ID. It will be used for different purposes: to confirm your account, receive mailings and restore access. Thus, the account number replaces the PayPal email address to which you registered the account.

How do I verify my PayPal account 2020?

To get verified, go to your account to add and confirm your bank account or, if you prefer, add and confirm your debit or credit card.