Not sure if this has been covered before, but in most of my PP's a see a feature called PayPal Money Pools.
Has anyone put this to use? Basically it allows you to create an "account" that other people can put funds into that you can access. Similar to how GoFundMe works.
PayPal describes it as follows: You can use PayPal Money Pools for just about anything. Group gifts. Split the cost of presents with friends, co-workers and family members.
Maybe this would be a good way to "pool" funds from other stealth PP's into your main one to make withdrawal's easier?
Of course, I don't see even this as a long term solution as nothing beats a bank account for properly withdrawing money.
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well, as of April 19th, unless you add a tax number or verify your account via database questions, you will only be able to withdraw funds from paypal to an approved bank account. So I guess you have a couple weeks to try to pool your funds. To me, it sounds like instant links.
Not sure if this has been covered before, but in most of my PP's a see a feature called PayPal Money Pools.
Has anyone put this to use? Basically it allows you to create an "account" that other people can put funds into that you can access. Similar to how GoFundMe works.
PayPal describes it as follows: You can use PayPal Money Pools for just about anything. Group gifts. Split the cost of presents with friends, co-workers and family members.
Maybe this would be a good way to "pool" funds from other stealth PP's into your main one to make withdrawal's easier?
Of course, I don't see even this as a long term solution as nothing beats a bank account for properly withdrawing money.
I'm sure PayPal does keep careful eye on the source of funds and how they come into the account. These "pools" are not ad-hoc F&F payments, but nevertheless, I didn't ever say it's a safe long term solution. Withdrawal to a proper bank account is really the only logical way long term.
I just thought it would be interesting to see if anyone has actually tried receiving/sending money with this new "pool" feature.
As much as Paypal has advertised themselves as a way to "send money to your friends"... that just isn't gonna cut it anymore after the update. I doubt many people will be willing to verify their identity just to send John Smith 50 bucks.
As much as Paypal has advertised themselves as a way to "send money to your friends"... that just isn't gonna cut it anymore after the update. I doubt many people will be willing to verify their identity just to send John Smith 50 bucks.
As much as people are concened about this TOS update, it remains to be seen what actually happens, if anything.
One thing that I know for certain is what PayPal says and what they do are often two different things.
You're right, not a lot of people will want to confirm their identity to send money to each other. There are a lot of other alternatives; Venmo, Square, Zelle, and a million other apps that are less trouble.
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That Kajunrook dude says his PPs are already affected. Can't do anything with his money except withdraw to bank.
I wonder if these "money pools" not only could cause linking but also could be a big problem for accounts that have no bank account on file or have never withdrawn to bank before.
PP could be quite aware of the try to move money via this method.
well, as of April 19th, unless you add a tax number or verify your account via database questions, you will only be able to withdraw funds from paypal to an approved bank account.....
So while I realize we don't know anything for sure until after April 19th, is it the general consensus that a fully stealth account will be fine as it is without any more to do if we just want to keep selling and withdraw to our bank a moderate amount at a time, under the 20K annual amount? This is what I was assuming, which would let me get rid of the rest of my inventory without having a fire sale, and now that I saw this mentioned this way I thought I'd ask.
So while I realize we don't know anything for sure until after April 19th, is it the general consensus that a fully stealth account will be fine as it is without any more to do if we just want to keep selling and withdraw to our bank a moderate amount at a time, under the 20K annual amount? This is what I was assuming, which would let me get rid of the rest of my inventory without having a fire sale, and now that I saw this mentioned this way I thought I'd ask.
Business as usual if you use bank accounts it seems. I answered you PM the same way.
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PayPal Money Pools for Stealth 
