Canadian opening a US business account

[jlowth]

Hello,

I am a Canadian (I do not have a Social Security Number) but I do have a US based business - incorporated in the US, located in the US wth a US bank account.   My customers always pay in USD. 

When I try to open a US PayPal business account - it asks for a SSN and I cannot provide one.

Any solution?

From what I understand, if I opened a Canadian PayPal business account, even if I use my American bank account (from an American bank) there will be a problem?

I want to keep everything in US dollars, that's why I set up my business in the US.

Anyone know of a fix?

Thanks

[Whac-A-Mole]

Both Canadian and US Paypal members can link Canadian and US bank accounts to their Paypal account.

You can tweak your Paypal profile to accept foreign currencies and keep them as foreighn currencies in your Paypal account.

With US $ payment,you can download to your US bank account with no conversion fee.

If you want to transfer US dollars to your Canadian bank account,there is conversion fee .

If this is correct,you dont need to open a US Paypal account,go check your account now,accepting foreign currency ,you have to add each one to the list.

[Whac-A-Mole]

CANADA-

Withdraw:

Withdraw funds from your PayPal account: To your local bank account. To your US bank account.

[jlowth]

Thanks!  Will try it out!

[Whac-A-Mole]

I want to keep everything in US dollars, that's why I set up my business in the US.

-------------------------------

IF you just want to sell in US dollars and keep your proceeds in US dollars,you dont need a US Business .

Plenty of Canadian sellers sell on Ebay USA and collect US dollars,they have a Canadian Paypal account.

But you may want to ask your accountant,if you have a US business,do you pay US INCOME TAX?

and how does Paypal deal with your tax situation,do they send 1099k to Candian and their tax dept?

[Whac-A-Mole]

There are several threads posted last year of foreign nationals having their paypal account restricted.

One is an Israeli merchant with a US company,years ago no SS number is required and he has a US company and deal in precious metal,he kept 5 figures in his Paypal account,one day Paypal wants to see incorp papers,vendor list and vendor invoices and his SS number which he does not have.

dont know what happens eventually?

another is an Australian precious metal dealer who has a shop and website in AUstralia,but started selling on Ebay and used Paypal to collect payments.

He has 80k stashed in his Paypal account and was restricted,he has to hire a lawyer to get the 80k out,his Paypal account was closed.

Without Paypal,he is not able to sell on EBAY as his merchant account provider bank cannot connect with the 3 gateways which work with Ebay.

It looks like Paypal will insist behind a company,there is a person and it wants the SS number

[jlowth]

I do have to pay US taxes, I will call Business Solutions during the week and ask them.  thanks for the info