Monday, May 16, 2022

Can You Sell Your Social Security Number

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Social Security scam calls are on the rise, racking up $45 million dollars in losses last year alone.

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Is Paypal Asking For Ssn Information On A Secured And Reliable Site

Site security is enforced if you are worried about PayPal asking for Social Security Number details or similar account information. PayPal has enjoyed a good record with respect to security.

When you sign up for a PayPal account, you must add your credit card account number or banking account details. This information is required so your account can be verified.

When signing up at any siteeven secured platformsmake sure your site is free of trojan keyword viruses. Even a secure site can be hacked in these cases. You should also be cautious about the receipt of fake PayPal emails or phishing.

Some of the fake emails state that your PayPal account has been compromised and that PayPal needs to confirm your username and password. You can usually tell if an email is fake, as you will see text errors or the alignment will not look right. Never give out your username and password unless you are signing up or logging into a site.

Why Does Paypal Ask For Ssn Details When It Is Not A Bank

PayPal asks for SSN because it needs the data for sales or credit information. You do not need to provide your social security number for buying transactions. Legally, you are not obligated to supply the number as a buyer.

Does PayPal Require SSN?

PayPal requires SSN because if you sell and use PayPal, you must add an SSN or your EIN if you sell over $20,000 per year, AND record 200 selling transactions annually, whichever happens first.

The IRS requires that PayPal send sellers who record 200 transactions AND sell $20,000 or more in services or products an IRS form 1099. Your income should be reported at this level. This is the reason for PayPal requiring SSN.

Why Does PayPal need SSN?

PayPal requires Social Security Number to verify your identity. If you are a buyer, it is not standard practice to provide an SSN unless you apply for PayPal credit. When you sign up for a line of credit through PayPal, you need to provide the last four digits of your social security number. You also have to supply your SSN if you apply for a PayPal debit Mastercard, which requires your entire SSN.

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Why Is Paypal Asking For Ssn Information

If youre a U.S. citizen and you have an SSN, you can get your EIN for free on IRSs website here.

HOWEVER, if youre NOT a U.S. citizen and you do NOT have an SSN, the process of getting your EIN is more complicated and requires more paperwork.

We offer a QUICK and EASY service for non-U.S. citizens who do NOT have an SSN get their EIN here.

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?

The Story Of The Social Security Number

Social Security Number Gta

The use of the Social Security number has expanded significantly since its inception in 1936. Created merely to keep track of the earnings history of U.S. workers for Social Security entitlement and benefit computation purposes, it has come to be used as a nearly universal identifier. Assigned at birth, the SSN enables government agencies to identify individuals in their records and businesses to track an individual’s financial information. This article explores the history and meaning of the SSN and the Social Security card, as well as the Social Security Administration’s SSN master file, generally known as the Numident. The article also traces the historical expansion of SSN use and the steps SSA has taken to enhance SSN integrity.

The author is with the Office of Research, Evaluation, and Statistics, Office of Retirement and Disability Policy, Social Security Administration.

Acknowledgments: The author would like to thank SSA Historian Larry DeWitt, along with Kitty Chilcoat and the other reviewers in the Office of Legislation and Regulatory Affairs for their excellent suggestions. The author also wishes to thank the many employees in the Office of Income Support Programs and the Office of Earnings and Enumeration and Administrative Systems who reviewed the article for technical correctness.

The findings and conclusions presented in the Bulletin are those of the authors and do not necessarily represent the views of the Social Security Administration.

Also Check: Social Security Point Check

What To Do Next

Why Does PayPal want my SSN? If you wish to use PayPal to invoice customers or transfer or withdraw money for business reasons, you need to learn more about what information you should provide.

Send me an email today at . I can help you set up your business so you can work more effectively off-line and on the web.

How Can I Run My Store Without A Social Security Number

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Hi, I am an international student in the United States, I already opened a Shopify store but Shopify said I can not receive Credit Card Payment because I do not have a Social Security Number. What can I do please?


Hi, Michael!

Koreen here from Shopify. Thanks for posting. 🙂

I’m afraid that in order to use Shopify Payments in the US, a SSN is a requirement for the set up process. This is for identity verification, and we have a little more info that goes into this in more detail here.

If this is not possible for you to obtain at this time, there are other payment solutions for you to choose from. We have a list of all those available here. These can allow you to accept payments on your store.

I hope this helps!

Hi Koreen

Thank you for your reply to my question. I am not familiar with other payment options you listed, is there any of such option that accepts Credit / debit card payment? if there is non, which of the payment option do you suggest that will serve better. For some months now,I have stopped marketin my store yet i pay every month to retain the store.

I have a similar but different question.

I have setup a corporation in US. I have EIN number and bank account in US. But, the managing director is a foreigner who doesn’t have a SSN. What is recommended solution for it? Is it also possible if I use my employee’s SSN?

Hi, Michael

Thanks for reaching back out and apologies for my delayed reply!

Hey, Lisa

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What To Do If You Lose Your Social Security Card

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  • Your Social Security number can be valuable information for identity thieves
  • Consider placing a security freeze or fraud alert on your credit reports if your Social Security card is lost
  • If you know your Social Security number has been stolen, there are some additional steps you can take

Your Social Security number is a valuable piece of information to identity thieves. Its a key element of your identity and is also linked to taxes and credit information. And except in limited circumstances, it cant be changed. Thats why its so worrisome to have your card lost or stolen.

Here are some steps to take for a lost or stolen Social Security card:

1. Consider placing a fraud alert or a security freeze on your credit reports or locking them. With an initial fraud alert, potential lenders and creditors are encouraged to take additional steps to verify your identity, such as contacting you by phone, before extending new credit. A fraud alert lasts for one year and can be renewed. Fraud alerts are free. Contact one of the three nationwide credit bureaus Equifax, Experian or TransUnion to request a fraud alert, and that bureau will notify the other two.

Options for locking your credit report may also be available from the three nationwide credit bureaus. Learn more about fraud alerts, security freezes and credit report locks.

You might also consider calling the Social Security Administration at 772-1213 to report the lost card.

Access To Medical Care

Guy Makes A Purchase Using Social Security Number

One thing you need to watch out for if someone steals your social security number is the possibility of them using it to gain access to medical care with your details. They may be able to undergo medical treatment using your identity, which will ultimately affect your personal medical records.

False information on your health records could lead to disastrousconsequences. For example, if you needed a blood transfusion and the wrong blood type was given, it could be life-threatening. It can also impact your ability to access your medical insurance when you need it.

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If You Suspect Someone Is Using Your Sin

If you suspect that someone is using your SIN fraudulently, act quickly to prevent personal loss and minimize the negative impact.

  • File a complaint with the police. Ask for the case reference number and the officer’s name and telephone number. If you choose to obtain a copy of the police report, make sure it states your name and SIN.
  • Contact the Canadian Anti-Fraud Centre at 1-888-495-8501. The national anti-fraud call centre is jointly managed by the Royal Canadian Mounted Police, Ontario Provincial Police and Competition Bureau Canada. They provide advice and assistance about identity theft.
  • Ask for a copy of your credit report. Review it for any suspicious activity. Also check to see if your credit file should be flagged . To obtain additional information regarding fees and other requirements, please contact:
  • TransUnion: 1-800-663-9980
  • Inform your bank and creditors by phone and in writing about any irregularities.
  • Report any irregularities in your mail delivery to Canada Post, for example, opened envelopes, missing financial statements or documents.
  • Visit a Service Canada office and bring all the necessary documents with you proving fraud or misuse of your SIN. Also bring an original identity document . One of our officials will review your information and provide you with assistance and guidance.
  • Who Actually Needs Your Ssn

    There are only a few organizations that actually need your SSN. Unfortunately, there are a lot of companies that ask for this number, even when they dont need it. A lot of people hand out their Social Security information without thinking twice about the possible outcomes. Knowing when you should give out this number can make sure you stay protected.

    These are some common ways you might need to use your Social Security number:

    • Applying for federal disability benefits
    • Military paperwork
    • Department of Motor Vehicles

    If you are applying for a service or product with your personal credit, they will need your SSN in order to view your credit report. This will come up if you are applying for some type of loan. Some of the federal benefits that require your SSN include: Medicare and Medicaid, unemployment insurance and disability benefit income, services such as free or reduced lunch, and financial aid for school.

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    Changing Your Social Security Number Is Possiblebut Not Easy

    Just because your Social Security number has been exposed in a hack doesnt mean youll automatically be granted a new number, even upon request. The negative effects on your life have to be persistent, unfixable after multiple attempts, and have manifest themselves within the past year.

    If you have done all you can to fix the problems resulting from misuse of a Social Security number and someone is still using it, Social Security may be able to assign a new number, Social Security Administration spokesperson William Jarrett tells the Daily Dot in an email. If you apply for a new number, you will need to prove your identity, age and U.S. citizenship or immigration status. You will also need to provide evidence you are having ongoing problems because of the misuse.

    Other Reasons For Changing A Social Security Number

    Why are we still using Social Security numbers as ID?

    There are several other reasons that the SSA will issue a new number. For example, it may approve a change if similar numbers within a family unit cause confusion or if two identical numbers have been issued in error. If you have a religious objection to a certain number or sequence of numbers in your current SSN, you may also qualify for a change.

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    Kinds Of Id Theft Using A Social Security Number

    With the Equifax breach still fresh in our minds, many of us are wondering if our financeslet alone our identitiesare safe and secure. If youre one of the 145.5 million potential victims of the 2017 Equifax data breach, the hackers may have the so-called skeleton key to your finances and, ultimately, your identity: your one and only Social Security number.

    What exactly can a thief do with your Social Security number? The answer isnt pretty, especially if they also have access to other personal data, as the Equifax hackers may.

    Whether youve had your Social Security number stolen or are trying to keep it secure, its important to know what criminals can do with it, so you know how to recognize red flags.

    One of the identity theft-related crimes most people think of is credit card fraud. However, credit card fraud may be just one of the crimes that can be committed if a criminal assumes your identity with your Social Security number and other personal information.

    While stolen credit cards and the like can be cancelled and replaced, it can be difficult to obtain a new Social Security number. The Social Security Administration requires that you prove your identity and provide evidence that someone is misusing your Social Security number and causing you significant continuing harm. In fact, until you sort everything out, the Internal Revenue Service and other government entities may not know if you or the criminal who has stolen your identity is the real you.

    How Do I Tell If Someone Has Stolen My Social Security Number

    Unfortunately, this type of crime can often be challenging to discover. People who steal a persons social security number can use their identity for long periods without being found out. However, there are ways that you can check whether your social security number has been compromised.

    The best way to find out if someone has stolen your social security number is by keeping a close eye on your . Your credit report can make you aware of any unusual activity. For example, if you notice any accounts that do not belong to you, this could indicate that you are a victim of identity theft using your social security number.

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    Why Victims Want To Change Their Social Security Number

    The most difficult cases of identity theft to resolve are typically ones involving non-financial aspects of a persons life. There are a fairly robust set of mechanisms in place, like credit freezes, to stop an identity thief from wreaking too much havoc on a persons finances, but its much more difficult to stop medical, governmental, or criminal identity theft.

    Criminal identity theft is when a thief uses a victims name or identity in the commission of a crime. Weve seen the gamut, from people finding out that they have traffic violations under their name that they werent aware of. Weve also seen where someone has a felony warrant , says Velasquez, whose organization runs a counseling service for identity-theft victims. We even know of people who have had to deal with a person being incarcerated .

    Even in cases of criminal or medical identity theftthe latter of which a survey by the Ponemon Institute found took victims an average of $13,500 and 200 hours to adequately rectifygetting a new Social Security number isnt guaranteed to make someones identity theft problems go away. In fact, it could create a whole new set of headaches.

    They Can Use Your Ssn To Get A Loan In Your Name

    Fake Social Security Numbers: What Are The Challenge And How Do You Overcome Them?

    Steven J.J. Weisman, author of “Identity Theft Alert: 10 Rules You Must Follow to Protect Yourself from America’s #1 Crime,” said that one of the worst things an identity thief can do with your Social Security number is to obtain a loan in your name. To do this, the hacker would first need to use your SSN to access your credit reports. Then, using the data, he could get a loan in your name — and never pay it back.

    This is not only bad for your credit, Weisman said, but it can also affect your ability to get a job, rent an apartment, get insurance or obtain a loan. All of these things often depend on having a good credit report.

    If this type of fraud happens to you, you need to contact the lender involved, the police and the FTC. The issue can be difficult and time-consuming to fix.

    Pro tip: Weisman said it’s easier to safeguard your SSN than it is to repair ruined credit after someone has stolen it.

    “You should not carry your Social Security number in your wallet or purse,” he said. “You should not provide it as an identifying number to everyone who asks for it. Many places ask for it but don’t need it by law.”

    The lesson here: Always ask if your SSN is actually needed.

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