PayPal Policy Update Feb 11th

[BooMer]

Amendment to the PayPal User Agreement

Effective Date: February 11, 2009

Beginning February 11, 2009 the PayPal User Agreement is being amended as follows:

1. A new section 2.4 is added to the PayPal user agreement. The new section will read as follows:

"2.4 Credit Report Authorization for Premier and Business Accounts. If you open a Premier or Business Account, you are providing PayPal with your written instructions to obtain your personal and/or business credit report from a credit bureau. PayPal may obtain your credit report: (a) when you open (or upgrade to) a Premier or Business Account, or (b) any time thereafter if PayPal reasonably believes there may be an increased level of risk associated with your Account. An increased level of risk includes, but is not limited to, a high number of chargebacks or reversals, or suspicious activity associated with your Account."

BooMer

[Jonas]

That sounds like something that wouldn't stand up in court.

Also I think they need your social security to run your credit report.

[BlackMarketGirl]

Originally Posted by Jonas

That sounds like something that wouldn't stand up in court.

Also I think they need your social security to run your credit report.

The only reason why would they check your credit is to see if you missed payments, therefore they wanna see if you WILL be good at paying your balance with PP.
Lets say you scam people for living...thats not going on your credit report. Only if you dont pay a bill, that will go on your credit. Am I wrong here?

I think this isan extended part of what they already do: ask for social. But this time they will go even further down and check the credit.

Well, since we are:
1 - staying under the radar with cautious usage of PP accounts
2 - not providing a SSN

I think we should be fine. I want lots of comments on this post...

[aspkin]

They check your credit report to verify your information for one. And two I'm sure to verify your credit if you're doing high dollar transactions each day or as the quote above says, a high number of chargebacks or reversals, or suspicious activity associated with your Account.

[discjokey]

In my opinion, they have done that to be able to check your credit report. For example, some of you dudes using business accounts, so they gonna check your credit score. Is it ZERO? That means there is a risk with you, perhaps someone who was banned and opened a new PayPal account under brand new business credentials.



P.S. By the way, I can't stand neither eBay nor PayPal. They seem to be into financial terrorism more than anything else. I'm working on my own auction platform and a plan to get it more users than eBay.

[chostin]

I am wondering if this applies in Canada???
we don't (yet) have the social security issue here so don't know if they could check this.

could be a prob with using ⊗⊗⊗⊗ details though for id verify. Hopefully I am still safe in Canada from this new policy

[TMiles]

Stand up in court? Of course it will. Think about this people. Aspkin is right again. Also, merchant accounts check you credit, so why would Paypal not...