Anti Money Laundering More ID Requirements For Paypal Australia

[craigoaus]

I recently got the following email from Paypal Australia (had a fewactually);

'Dear XXXXX,
We are contacting you because changes to Australian anti-money laundering laws require PayPal to confirm the identity of its customers whose accounts reach a specific transaction level.

Our records indicate that your account falls into one of the following categories, and requires your attention:
- Your account has almost reached the transaction level. Once this level is reached, PayPal is required to confirm your identity; otherwise a restriction will be imposed on your account preventing you from sending payments or withdrawing funds.
- Your account has previously surpassed the transaction level (the anti-money laundering laws apply retrospectively from December 2007). *If your account reaches this limit again or you do not respond to this request within 60 days, a restriction will be imposed on your account preventing you from sending payments or withdrawing funds.

Please act now and avoid any potential restrictions. Log in to your PayPal account. On the My Account Overview page, look for the notice that directs you to the steps required for confirming your identity.

If you have any trouble completing these steps, please call Customer Service at 1800-073-263.

For reference, your case ID number is PP-xxx-xxx-xxx.

We appreciate your business and patience in helping us comply with Australian law.



Sincerely,
PayPal



Please do not reply to this email. We do not monitor this mailbox, and you will not receive a response. For assistance, log in to your PayPal account and click the Help link located in the top right corner of any page. If your enquiry is regarding a claim, log in to your PayPal account and go to the Resolution Centre.'

This account has received just under $6000 Australian in the period it has been opened for (under a year).

Paypal are asking for fax/email of Passport, Licence, Utility Bill and Government ID. This is more ID than a bank requires to open an account and not everyone has a passport and certainly not government ID. I just wonder if this is to comply with the law here in Aus or is Paypal using this as an excuse to 'know more about us'.

It is also really going to stop the more honest members of society from having bogus Paypal accounts, its not hard to run up copies they are asking for on the computer and fax them in no way will Paypal be able to confirm the details on the documents are genuine or not ( I think).

Anyway this is meant as a heads us for my fellow Aussie Paypal users but other opinions would be interesting

[GreenBean]

Any bank in Australia wants 100 points of ID. Looking at your post, paypal does the same. Government ID is the medicare card or a pension card. OZ & the UK are more proactive these days with the money limits. Just a matter of being prepared. Must say it does scare
you to get those types of emails.

[craigoaus]

its the request for utility bill thats annoying, I do not think its a hassle for me at the moment its more the big brother thing I guess. I have been thinking of a work around open a Paypal account normally with bank etc and use it normally until the amount of money going through is getting close to the limit and then just link to another Paypal account in the same name etc but different bank account... think that would work?

[aliman]

Different bank account and different name works. Funds routing does not match names to BSB/ACC #. You can put Dr Frankenstein if you like as long as the numbers are correct.

EDIT: Whats the limit where they ask you? I have no idea how much Ive put through the PP acct. I responded to the ID verification warning with photoshopped Drivers Licence and power bill.

[mylo]

They asked me to this on my last account i just gave them the info they wanted :D and several hours later they removed the limit. no biggie

[craigoaus]

I think the problem comes in for those who have had to open a Paypal account with account details that are different to those that we easily supply. I know of 2 established Aus accounts where Paypal have asked for details as mentioned above after a few thousand dollars have gone through, another which was a new account but had sales for around $1000 within a week.
What I find laughable is that Paypal are asking for either a scan or fax I'm sure we all know that a scan or document to be scanned can easily be 'adjusted' in an imaging program to suit ones' requirements. This being the case requesting this information seems something of a waste of time. Of course I am assuming Paypal can not verify the documents they are requesting.

[aliman]

They dont verify anything. My account was back to regular standing within 30 minutes of uploading the 'custom' documents

[importracer150]

Every time I reach around 7-8k in sales through paypal on a new account, they limit me and ask for s.s and other documents.

[craigoaus]

Is that a Paypal verified or unverified? I got that when I got 1k in sales on an unverified Aus Paypal account and I was just selling stuff from around home (to build up feedback).

[NadiaLauren]

Originally Posted by aliman

They dont verify anything. My account was back to regular standing within 30 minutes of uploading the 'custom' documents

LMAO

[s2k]

Originally Posted by aliman

Different bank account and different name works. Funds routing does not match names to BSB/ACC #. You can put Dr Frankenstein if you like as long as the numbers are correct.

EDIT: Whats the limit where they ask you? I have no idea how much Ive put through the PP acct. I responded to the ID verification warning with photoshopped Drivers Licence and power bill.

Hi aliman, when you mention funds routing does not match name to BSB/ACC #, does it means I can put in any name for the first name and the last name and I could still get my funds into my bank account so as long as my BSB/ACC# is valid?

[craigoaus]

With in Australia interbank transfers between Australian banks only use BSB & Account number the National Bank state this on the web site. I once accidentally put my ebay user name in as the Bank name and the transfers still went through.

[craigoaus]

Regarding the amount of money going through an account before they want to sight docs .. there appears to be no rhyme or reason in my experience only after a few hundred dollars to some accounts that have are still going strong with no requests. My opinion is that Paypal are applying this law (if there is such a law) when it suits them

[captainjack1980]

It's supposedly 1700 GBP for us in the UK. I'm just waiting for the emails now as I am getting close to that on a few of my accounts.

Not sure until yet whether I am going to try and get past it or just abondon the accounts.

CaptainJack

[getaroundebay]

You only need voipfone and entropay to left the £1700 limit in the UK.

[captainjack1980]

I have already lifted the initial limits on my accounts that way.... I was under the impression further documentation was required to get past the anti money laundering ceiling limit of £1700.

CaptainJack

[discount_seller]

Well i provided my uploaded information and within 12hrs my paypal account was frozen for 180 days.
Be careful

[craigoaus]

It would seem that Paypal are trying to confirm personal details with a third party. I've noted that there are companies in Aus now who will confirm identities. They can it seem run passport numbers (at least of those people in Aus on a Visa).Paypal always ask me for passport number but I am based overseas so this may be why, when I am back in Aus I will see they still ask. They are not doing this confirmation with account opened in 2007 or earlier (Paypal have a blurb up explaining this confirmation).

[craigoaus]

Discount, .....what sort of information did you upload?

[bbk]

hi, guys

my account was limited over 180days now and still cannt withdraw money, it was limited due to this new rule---anti moneyXXX, I was required to send photo ID and Utility Bill, which I dont have, I used ⊗⊗⊗⊗ name and address...

just wandering if anyone can help?

[craigoaus]

as I understand it Paypal are supposed to forward any funds in the account to you after 180 days, I'd have thought they would have sent it to your bank account. It may pay you to contact the Financial Services Ombudsman and make a formal complaint

[bbk]

thanks, mate, but the problem is, the name and address on paypal file are not mine...I used ' created' name and address; can I still to claim my money?