Whenever you open a PayPal account, you need to provide the site with certain personal details. PayPal, itself, is an online financial service that permits users to pay for items using a secured account online. In some cases, you may ask, “Why Does PayPal Need My SSN?”
Do I Have to Give PayPal my Social Security Number (SSN)?
To use the PayPal account, you must add certain details, primarily the following:
Your bank account(s)
Your debit or credit card details
Your contact information
When adding the account information, you can set one of the accounts as the default payment method and establish one as a back-up choice. Because PayPal has been in business for a fairly long time, you can find the “pay by PayPal” option on thousands of sites online.
PayPal offers buyer protection, which safeguards you if you dispute a charge and want to request a refund. If you have a PayPal account and are a business,
PayPal is one of the most popular money transfer services on the Internet. If you plan to set up a business online you will definitely use this service. However, you may wonder about supplying your social security number (SSN) or similar details. Some of the questions you may ask include the following:
Does PayPal ask for SSN details, and if so, why?
Why does PayPal need this number?
The above questions are important and understandable. After all, you do want to learn why private information, such as your SSN or an employee identification number (EIN), is needed to transfer money. The following information will give you a better idea about why SSN or EIN numbers are requested.
Does PayPal ask for SSN Details to Verify my Identity?
When you sign up for PayPal, you may ask, “Does PayPal ask for SSN details to confirm my business or identity?” If you do make this inquiry, you will find that this number is often needed for just this reason.