PayPal credit checks.

[thedarkknight]

I've just read that PayPal do credit checks, so signed up for a free credit check on noddle.

It mentions that PayPal did a check on my legit account in January last year for 'anti money laundering'

This has me wondering, what if they do this check on a stealth account, would they not see there's not a match on the name living at that address?

[Ebayorbust]

That's correct.

When their automated checks fail, they will ask for documents to be submitted instead. Has been this way for several years now.

[halotrial]

Originally Posted by Ebayorbust

That's correct.

When their automated checks fail, they will ask for documents to be submitted instead. Has been this way for several years now.

What if it is a stealth business account with EIN already attached?

[Ebayorbust]

Originally Posted by halotrial

What if it is a stealth business account with EIN already attached?

The thread is about UK paypal.

[MM78]

Originally Posted by halotrial

What if it is a stealth business account with EIN already attached?

US and UK Credit Checks are not the same.....

[GreenBean]

Originally Posted by halotrial

What if it is a stealth business account with EIN already attached?

OP is talking about a UK paypal account.

USa does things differently.

[thedarkknight]

Originally Posted by Ebayorbust

That's correct.

When their automated checks fail, they will ask for documents to be submitted instead. Has been this way for several years now.

So when they do the check, does it show them the real info, I.E. the name and address on the PayPal does not match that on the credit check?

[Ebayorbust]

Originally Posted by thedarkknight

So when they do the check, does it show them the real info, I.E. the name and address on the PayPal does not match that on the credit check?

Not really sure I follow you.

You put in the stealth name and address. The check fails because that person's name can not be matched to the address.

Paypal have access to credit bureau data. Just because a person does not show up on a KYC check does not mean that they definitely do not stay at the address. This is why documents are requested.

There will likely come a time when electronic KYC checks become so robust that stealth will become virtually impossible but it isnt going to happen anytime soon.

[RetroRedneck]

I think op means do PP get to see your actual address during said credit check. I would probably guess yes.

[donkeykong2012]

The only way electronic KYC checks can be performed correctly is if the data held on the Electoral Roll or Credit Bureau is accurate or up to date.

In a previous job I performed these electronic KYC checks myself. Sometimes the system could "not find the individual" and requested either Proof of Identity or Proof of Address, or both.

Once the documents were copied and stamped declaring "they were a true and clear likeness of the original" the checks were complete.

Paypal cannot obviously see the original documents so the whole procedure is flawed.

And many people are not on the Electoral Roll or any Credit Bureau.

And are never likely to be.