PayPal TOS Update - Transfers for verified people only!

Hercules · #**221** 03-11-2018

Quote:

Originally Posted by nate

I'm a little surprised about who's been commenting on this thread. I would guess this could effect a lot of people and it's seems to only be the same 10 or so that are staying on top of this. Over the last couple years I've read a lot of threads and envisioned a lot of high vol. sellers on this forum.

I'm wondering why their not commenting (possibly didn't get the same emails maybe because of EIN) or they had already changed strategies and sell somewhere else? Or maybe just watching??? Or maybe they were only here for the conversation and talked a good game...

Seems to me a lot of the people who were here last year are MIA...

You mean you are surprised that there's a possibility of sellers here without EIN#s on all of there accts? Amazing that you could see though all of this acct buying and advice about multiple venues and all....snore...next

stealthbiz · #**222** 03-11-2018

Is this only for United States PayPal accounts and not other countries?

smartguy · #**223** 03-11-2018

Quote:

Originally Posted by stealthbiz

Is this only for United States PayPal accounts and not other countries?

Yes. For now. I see their competitors like Skrill, Payonner asking for SSN for a very long time. I think they were breaking some laws. Just imagine... letting somebody send 20 000$ without asking any sort of identification. Will a BANK allow that?

smartguy · #**224** 03-11-2018

I mean ... allowing somebody to get 20 000 ... but they can get even more if payments are for friends, or they also stay below the 200 transactions...

suspendedfoe · #**225** 03-11-2018

Everyone needs to calm down. What is this PayPal vs eBay?

cp74 · #**226** 03-12-2018

Sorry, without getting off the topic, but i was applying for spectrocoin prepaid card, even providing my ID. The agent said Visa banned all the coin related cards, there will be a delay to receive a card. Here's a link when i googled:

https://coinvigilance.com/update-on-...-of-wavecrest/

I still think this is indirectly related to PP policy. I believe all factors; AML, KYC, monsters, Russian election case, etc, are related what is going on.

The agent told me new cards will be issued around April. I asked Agent if Visa is not phased out, what will be then? No answer at the moment.

There was already enforcement of photo IDs for the coin exchanges while PP is freer. You know PP is a competitor of coins, transactions are good for them with fiat money. I think such election issue hit it hardly :( Becuase they were allowing stealth, unlike exchanges. Now it seems like it will be regulated too. Then darknet will come to PP...

Regards.

yankee · #**227** 03-12-2018

Paypal is an absolute PITA today.

donkeykong2012 · #**228** 03-12-2018

"We’re changing the balance functionality for your PayPal account depending on whether we have been able to verify identifying information that you provide to us."

There has been so much conflicting information on this thread regarding what "verification" will mean for US users.

So far I have read:

Add adding a Bank Account and verifying.
Providing an SSN
Providing an SSN/DOB that can be checked against Public records.
Providing ID

I am curious how PP USA plays this as no doubt there will be knock on effect in various ways. However all the speculation is not helping anyone.

This might be an "easy fix" for sellers - who knows. It MIGHT just be a case of a legal update.

It also occurred to me that Paypal might only apply this new verification requirement to certain accounts. ie: those they consider HIGH risk. It might not be a blanket policy across ALL accounts.

"If we have not verified your identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card."

Best keep such speculation to a minimum for the time being.

When US users suddenly find overnight they cannot send money/purchase items with balances easily without further "verification" there will be quite a few unhappy people on here.

ebaystealth1974 · #**229** 03-12-2018

Got the email today for a personal account, and it is all legit info with an SSN already on file. I say it'll get sent out to everyone, eventually.

I guess it takes a while to email everyone.

XTC4ME · #**230** 03-12-2018

I'm slowly getting it on every single account from business accounts with linked bank and EIN to personal accounts with legit SSN. I think everyone will get the letter also.

empirestate · #**231** 03-12-2018

It would help if you buys screenshot what the letter looks like...

ebaystealth1974 · #**232** 03-12-2018

Looks like the same one that's been posted.

donkeykong2012 · #**233** 03-12-2018

Just received an email regarding Paypal changes to the UK UA in May 2018.

Had a quick look through, no serious changes that I can see.

My bet is most of the fraud and issues PP have is with US Accounts.

iceman420 · #**234** 03-12-2018

So glad I got outta the stealth game 6 months ago. I just popped back in to withdraw the loot I have tied up across my stealth accounts ..hope I dont have any withdrawal issues.

yankee · #**235** 03-12-2018

Quote:

Originally Posted by iceman420

So glad I got outta the stealth game 6 months ago. I just popped back in to withdraw the loot I have tied up across my stealth accounts ..hope I dont have any withdrawal issues.

I am having them. Lets us know how it goes please.

Gladiator · #**236** 03-12-2018

Can’t you guys just get EINs and this becomes a non-issue?

iceman420 · #**237** 03-12-2018

Quote:

Originally Posted by yankee

I am having them. Lets us know how it goes please.

Whats going on with your accounts/withdrawls? some of mine recently became 'eligible for withdrawal' and I added a bank already, and I just transferred $200 to a bank, got hit with '2 hour delay' then I got an email stating transfer to bank 1 business day. Hopefully it goes through without incident

Matce · #**238** 03-12-2018

Quote:

Originally Posted by Gladiator

Can’t you guys just get EINs and this becomes a non-issue?

exactly.
not sure why everyone is freaking out so hard lol

slokor · #**239** 03-12-2018

Quote:

Originally Posted by Gladiator

Can’t you guys just get EINs and this becomes a non-issue?

No need to get Eins realy as the issue remains the same.
If youre in the US and can get an EIN then you can just as easily have a bank account attached and withdraw your funds to it.
If youre NOT in the US then you cannot get an EIN and you cannot get a bank account - which basically negates your ability to use a US based stealth account.
As far as I can see that is the main impact - on non US users.

yankee · #**240** 03-12-2018

Quote:

Originally Posted by Gladiator

Can’t you guys just get EINs and this becomes a non-issue?

It is really hard to say yet.

Also, most of the members on this site dont want to add anything or pay any taxes.

nate · #**241** 03-12-2018

Quote:

Originally Posted by slokor

No need to get Eins realy as the issue remains the same.
If youre in the US and can get an EIN then you can just as easily have a bank account attached and withdraw your funds to it.

What about paying fees? I see that as a possible issue?

slokor · #**242** 03-12-2018

Add a prepaid credit card to ebay as your payment method. Easily purchased at any convenience store.
Or paid via paypal directly from your bank account.