PayPal is a service that makes it easy to pay, send and accept payments without the need to constantly enter your financial data. This makes it one of the most widely used companies in the world. However, is it possible to use PayPal in Andorra? Below, we explain all the details.
Can PayPal be used in Andorra?
Andorra has been working tirelessly to be able to offer its citizens all possible services. PayPal is one of the most popular companies for paying, sending and accepting payments, offering great conveniences to its users. However, it seems that Andorra has not yet managed to get the company to operate in the country.
However, there is a way that can be taken into account to operate with PayPal in Andorra, even if it is not official.
How can I operate with PayPal in Andorra?
The community of PayPal in Andorra is uncomfortable with the fact that the company does not offer the possibility of inserting an Andorran bank account. Many users have asked for a solution and the most direct one is to open a bank account in the United States, according to PayPal’s own advisors.
Is it possible to open a bank account in the United States if you are a non-resident?
To open a U.S. bank account as a non-resident you will probably need to obtain a taxpayer identification number (TIN). This is a nine-digit tax number used to record payments and federal tax returns in the United States. It is assigned to foreign individuals who do not legally possess or qualify for a social security number (SSN), providing a formal means of identification in the tax context.
Once you obtain it, you will be able to open an account, although it is true that some banks allow opening without SNN and even without TIN.
How can I apply for the TIN?
To apply for a TIN, the U.S. Internal Revenue Service, known as the IRS, comes into play. You must complete an IRS form, submit the required documents and verify your identity. Next, you will need to submit a pending tax return along with the application. If everything is in order, you will receive your TIN number in approximately six weeks.
What are the requirements to open a bank account in the United States?
Although you cannot officially and fully use a account of PayPal in Andorra, you can get one by opening a bank account in the United States. In order to get it, you need the following requirements:
- Photo for identification. A valid driver’s license or passport is acceptable.
- Valid SSN or TIN number.
- Proof of address. All banking institutions accept copies of utility bills and rental agreements that have been properly executed.
You must take into consideration that opening a bank account implies an accurate verification of identity, especially in virtual procedures that may require a selfie to match the official identification.
In addition, a telephone number and email address may be required. Banks require applicants to be at least 18 years old. Exceptionally, however, minors may be co-owners with a legal guardian. Moreover, they may ask for additional requirements such as date of birth or passport. Once you have provided the necessary information, you will be asked to make a deposit to formalize the account.
Which banks accept non-resident accounts?
Some financial institutions allow non-resident accounts to be opened without requiring an SNN. These include Alliant Credit Union, Citibank, Bank of America, Chase, BMO Harris, PNC, Charles Schwab, Wells Fargo, HSBC, TD Bank and U.S. Bank.
These entities offer options for those individuals who do not have a social security number, but wish to establish banking relationships in the United States.
What documentation is required if the SNN is not requested?
In the event that an SSN is not required, banks’ documentary requirements may vary. For example, Alliant Credit Union may require additional documentation, such as a valid passport; Bank of America allows accounts to be opened with a TIN, although it is not required; Chase requires a TIN and photo ID; Citibank does not require an SSN or TIN, but address verification is required; PNC does not require an SSN or TIN; and Wells Fargo does not require an SNN.
In conclusion, although PayPal in Andorra does not operate officially, you can gain access by opening a bank account in the United States. This requires obtaining a taxpayer identification number (TIN), which can be obtained through the IRS. Despite some obstacles, such as the need to prove identity and provide specific documentation, there are banks that offer options for non-residents without requiring a social security number (SSN) or TIN.
