PayPal TOS Update - Transfers for verified people only!

Gladiator · #**287** 03-13-2018

From what I gather on the Paypal Community Forum the verification options are pretty standard:

Call and/or Text
Add Card
Add Bank

EIN/SSN stays the same until threshold requirements are met.

I took some time and went through the recent posts on there and no one (not even PayPal employees who post) have mentioned identity info off the bat. Not saying it may or may not be a thing still, but all the responses to recent posts have been specifically about verified bank accounts and debit cards.

All of this is to comply with the VENMO issues of transfers. They were having problems with instant transfers and missing payments and it looks like to address it they are requiring actual, verified banks.

Should you wish to swim in a sea of posts, go on the PayPal Community pages and search for VENMO and 2018 TOS updates.

cp74 · #**288** 03-13-2018

I saw below in early 2018:
https://www.engadget.com/2018/01/31/...-main-payment/

A few minutes ago, now i saw this and my memory flash backed the above one:
https://www.investors.com/news/techn...rger-in-cards/

It looks like it will not last forever. It will not be surprise for me if one of PP or EB will go into coin business :/ Divorcing... End is around 2023.

smartguy · #**289** 03-13-2018

Quote:

Originally Posted by Gladiator

.

Could you kindly call PayPal and try to find out? I tried 4 times and got stupid answers like "you can get and send as much $ as you wish " i see no restrictions or limits on your account" ... can you ? maybe your English is better

slokor · #**290** 03-13-2018

And what makes you think that he will get different answers than you did 4 times?

yankee · #**291** 03-13-2018

Quote:

Originally Posted by smartguy

Could you kindly call PayPal and try to find out? I tried 4 times and got stupid answers like "you can get and send as much $ as you wish " i see no restrictions or limits on your account" ... can you ? maybe your English is better

It wont help any.....they dont have any idea what you are talking about. It is five weeks away till it rolls out.

The answer they are giving you is accurate and not at all stupid.

slokor · #**292** 03-13-2018

Quote:

Originally Posted by Gladiator

From what I gather on the Paypal Community Forum the verification options are pretty standard:

Call and/or Text
Add Card
Add Bank

EIN/SSN stays the same until threshold requirements are met.

I took some time and went through the recent posts on there and no one (not even PayPal employees who post) have mentioned identity info off the bat. Not saying it may or may not be a thing still, but all the responses to recent posts have been specifically about verified bank accounts and debit cards.

All of this is to comply with the VENMO issues of transfers. They were having problems with instant transfers and missing payments and it looks like to address it they are requiring actual, verified banks.

Should you wish to swim in a sea of posts, go on the PayPal Community pages and search for VENMO and 2018 TOS updates.

From everything Im reading this update is not taking effect until April 18th.
This to me means nothing has changed yet. Even if this is planned we will not see it happening until April 19th at least.
Patience people.

smartguy · #**293** 03-13-2018

Quote:

Originally Posted by Gladiator

Plus you have the right to opt out and close your account if you don’t agree with user agreement changes. That’s a compliance issue they have to legally provide.

No. They always say that. In past 15 years I always saw that message

Gladiator · #**294** 03-13-2018

Quote:

Originally Posted by slokor

From everything Im reading this update is not taking effect until April 18th.
This to me means nothing has changed yet. Even if this is planned we will not see it happening until April 19th at least.
Patience people.

These were direct questions about the updates and VENMO issues that are before the government right now. I was just passing along what I read. I'm not personally concerned, I just read a lot about everything and googled it to see if I could pass along some more in depth info for you guys who seem shook over this. (Not necessarily you personally, you seem chill)

Gladiator · #**295** 03-13-2018

Quote:

Originally Posted by smartguy

No. They always say that. In past 15 years I always saw that message

That was my point. They legally have to notify you of changes. No different than any other website, hence the emails.

Mr. Invisible · #**296** 03-13-2018

Those who were operating with no real bank accounts, buying cryptos, buying items listed by other accounts to move money around or directly sending paypal balances to other paypal accounts are probably the only sellers this update will hit.

suspendedfoe · #**297** 03-13-2018

Quote:

Originally Posted by slokor

From everything Im reading this update is not taking effect until April 18th.
This to me means nothing has changed yet. Even if this is planned we will not see it happening until April 19th at least.
Patience people.

i agree with you, i panicked when i first read the update but to be honest...we are all here to help each other.

dont get me wrong slokor...you can be a bit difficult sometimes with your harsh answers but everything you have said is true.

ebaystealth1974 · #**298** 03-13-2018

Quote:

Originally Posted by yankee

It wont help any.....they dont have any idea what you are talking about. It is five weeks away till it rolls out.

A lot of them won't even know after it goes into effect lol

Matce · #**299** 03-14-2018

Quote:

Originally Posted by Mr. Invisible

Those who were operating with no real bank accounts, buying cryptos, buying items listed by other accounts to move money around or directly sending paypal balances to other paypal accounts are probably the only sellers this update will hit.

Those are all things you shouldn't do anyways. So in a way, they're doing you a favor. Protecting you from yourself LOL

Comeon guys! It's paypal... hardly a bunch of geniuses!

smartguy · #**300** 03-16-2018

any updates?

yankee · #**301** 03-16-2018

Quote:

Originally Posted by smartguy

any updates?

How could there be??? Is it April 19th yet?

smartguy · #**302** 03-16-2018

Quote:

Originally Posted by yankee

How could there be??? Is it April 19th yet?

I mean an update of what it is going to happens. They only sent us a vague message...

yankee · #**303** 03-16-2018

Quote:

Originally Posted by smartguy

I mean an update of what it is going to happens. They only sent us a vague message...

EVERYTHING we have said in this thread is 100% speculation, a guess.

No one will know anything until April 19th at the soonest.

Your guess is as good as ours.

Hercules · #**304** 03-16-2018

I'm having a April 20th party...I'm inviting all of you here.

slokor · #**305** 03-16-2018

Quote:

Originally Posted by smartguy

I mean an update of what it is going to happens. They only sent us a vague message...

We all got the same vague message as you. What makes you think we know any more than anyone else is beyond me...
Stop hammering this issue friend and just relax until it actually goes through.

Hercules · #**306** 03-16-2018

Quote:

Originally Posted by slokor

We all got the same vague message as you. What makes you think we know any more than anyone else is beyond me...
Stop hammering this issue friend and just relax until it actually goes through.

Are you boss of something here?

smartguy · #**307** 03-16-2018

Quote:

Originally Posted by yankee

EVERYTHING we have said in this thread is 100% speculation, a guess.

No one will know anything until April 19th at the soonest.

Your guess is as good as ours.

.
Sure. But I was expecting clarification, updates from PayPal till the day ZERO. Maybe now some of their employee know something ...

Kajunrook · #**308** 03-16-2018

Quote:

Originally Posted by smartguy

.
Sure. But I was expecting clarification, updates from PayPal till the day ZERO. Maybe now some of their employee know something ...

Well something is going on now, list 5 paypals this month, 3 of them 5 years old