new restrictive paypal account conditions? what are you doing?

[Tripwire]

seems like a good time to punch out? but what the heck do i do when using e bay or selling to other members? I understand they need to comply with regulations, but its kinda heavy handed..... i can opt out until may 7th

any thoughts

steve

[Cecil14]

I closed my account the day they sent the notice. I have never been impressed with Paypal, and been screwed by them more than once. Time for that horrible company to disappear.

Ebay will accept direct credit card charges, and you have infinitely better protection directly through your CC than you ever did through PP. If you find someone that won't accept that as payment, they don't want your money very badly.

Transactions with real people are gonna have to be cash in person or postal money order for me. I really didn't like using PP for that anyway.

[SJTD]

What did I miss? I don't recall seeing an email. When did it come out?

[SJTD]

I just searched my email and didn't find anything and used it yesterday to pay for something.

Maybe I'm already complying with whatever you don't like.

I gotsta know!

[Cecil14]

https://www.paypal.com/us/webapps/mpp/ua/upcoming-policies-full

[JeepsAndGuns]

What am I missing in the link posed above?
All I am really seeing is that if you keep a balance on paypal, it will go to a separate account. Sounds like the government is making them do this.
Is it going to be harder to get to your money from this account now? Will you no longer be able to pay for stuff from this account? If you get paid, is there a time limit before it gets sent to this account or is it instantly? Will you no longer be able to send the money to your bank account?
I never got any email from them either, maybe the ones who did can share with us what is troubling.

[Tripwire]

they now want your full name, address, SSAN, and a photo ID of you

[babywag]

I think they only do that for folks adding/transferring money into a paypal account.
It's a federal law and something to do with money laundering prevention.

Set it up w/ credit card or bank account to pay for stuff.
I would never transfer $ into a paypal acct. it's giving them free interest $.
They have never asked me for any additional information, because I will never add $ to the account. Only drain it after folks buy something from me.

[SJTD]

I wonder why I didn't get the notification. Maybe because I don't have a cash account with them?

I've always used a CC. Wasn't willing to link a bank account. I was never "Verified". As I recall they originally said that after something like $1k of transactions I'd have to get verified but it never happened.

I never have a balance except on the rare occasion when I return something for a refund. I wonder what's going to happen now. Will it go back to my CC? Guess i'll have to read the update, not just the summary.

[joe]

they now want your full name, address, SSAN, and a photo ID of you

What could possibly go wrong???
Never had PP, never will...

[Tripwire]

I read deeper.... did not like it at all, i closed my account..... pitty it was a super easy way to exchange funds

[deckside]

I heard some millennials talking about Venmo'ing each other but really don't know much about it.

[Tripwire]

yea venmo is popular with them, the odd thing about people today - is the inability to realize the security concerns involved with these companies. it is truly scary about the personal info collected and how easily its stolen. i have been a ID theft victim and its no fun.

Oh well.... back to 1980's we go

[KaiserMan]

Doesn't sound that bad. I transfer all of the money I have in my PP account to my linked bank account every Thursday night, then transfer it out of that account into my regular checking account every Saturday morning. I don't trust it to sit in my PP account or the linked account.


PP made me give them additional info a while back. In Mass they have to report your PP income to the IRS and Mass after $600 in sales, vs. $20K plus 200 or more sales in virtually all other states. Though I bed that's going to change soon.

[jeepman1]

Just another gov'ment intrusion..

Zuckerburg (or whatever the hell his name is) owns this as you know, and he is in the tank with the Demodogs as was exposed after the election. He, I'm sure gives all your information to the Gov'ment. Bye bye PP.