PayPal TOS Update - Transfers for verified people only!

[slokor]

Originally Posted by empirestate

To sum it up, Crypto is looking better and better, it is the future INDEED!

Yet another 'quality' post contributing absolutely f#ckall to the discussion.
Keep'em coming clown.

[smartguy]

[QUOTE=empirestate;909784]To sum it up, Crypto is looking better and better, it is the future INDEED!

To bad ebay do not integrate it. Guess why? they're 45 days buyer protection will :rip

[smartguy]

Originally Posted by phaz0rz

Perhaps they're going to ditch micro deposits for verification. Micro deposits have always been the weakest form of verification according to some site I was reading a while back.

and what they will put instead?

[smartguy]

Originally Posted by Gladiator

No?

It shouldn't be a huge deal to withdraw the funds and use your bank debit card to pay for stuff as you can do instant transfers. They are simply following the 2017 update to transmitter laws and acting more like a merchant processor.

And yes I know this messes with people who use US accounts, but for anyone who can get a tax id you should be good to go.

This is against them. They won't be able to limit people money for 180 days..

[smartguy]

Called again yesterday , they told me to ignore those e-mails, as they might be phishing =))

[yankee]

Originally Posted by smartguy

Called again yesterday , they told me to ignore those e-mails, as they might be phishing =))

Why would you think paypals call center would have any information to give you? Good grief, it CLEARLY says what will occur. Do you think the call center has some magical other explanation for you? THEY wont even know what it does till the 19th of April.

[yankee]

Originally Posted by smartguy

This is against them. They won't be able to limit people money for 180 days..

What you are saying makes zero sense. Dude, NOTHING is changing if you use a bank account. Nothing. Zero...

You do realize that ALL payment processors hold funds for 180 days if they want and that paypal is actually the most lenient of all payment processors?

[yankee]

Originally Posted by smartguy

and what they will put instead?

Well....they do instant verification for most all major banks for YEARS now. I would assume they would continue doing this while cutting out the weak links AKA micro deposit.

[nodeal]

Originally Posted by yankee

What you are saying makes zero sense. Dude, NOTHING is changing if you use a bank account. Nothing. Zero...

If I have a bank verified, do you know if I can pay eBay fees with my pp balance? The language of the TOS email would make me think that no, I cannot.

[yankee]

Originally Posted by nodeal

If I have a bank verified, do you know if I can pay eBay fees with my pp balance? The language of the TOS email would make me think that no, I cannot.

It sounds like you will have to withdraw to your bank and pay either through your bank or pay ebay with a credit card on the ebay site instead of paypal.

[slokor]

That's one of the differences then - if you pay from your bank paypal will be able to determine that the name of the account holder is different than that of the paypal account owner.
Then again its been like this since forever - since they can pretty much obtain that information anyway when they do the micro deposit verification. They've never done anything about it before so who knows if they will now. Guess time will tell.
Worse case scenario it will have to be prepaid credit cards for payment. A pain - but doable.

[nodeal]

Originally Posted by slokor

That's one of the differences then - if you pay from your bank paypal will be able to determine that the name of the account holder is different than that of the paypal account owner.
Then again its been like this since forever - since they can pretty much obtain that information anyway when they do the micro deposit verification. They've never done anything about it before so who knows if they will now. Guess time will tell.
Worse case scenario it will have to be prepaid credit cards for payment. A pain - but doable.

This is what I was worried about - PP seeing the name on the bank accounts. Not sure if anything would actually happen from it but I hate to test it out on my accounts.

Prepaid cards are not an option. My sales are spread across way too many accounts, with way too high of fees. I'd be walking into stores buying thousands of dollars of prepaid cards every month.

I was thinking of adding my checking account to eBay so they can automatically deduct from that. Do you know of any downside to doing this?

[suspendedfoe]

Originally Posted by nodeal

This is what I was worried about - PP seeing the name on the bank accounts. Not sure if anything would actually happen from it but I hate to test it out on my accounts.

Prepaid cards are not an option. My sales are spread across way too many accounts, with way too high of fees. I'd be walking into stores buying thousands of dollars of prepaid cards every month.

I was thinking of adding my checking account to eBay so they can automatically deduct from that. Do you know of any downside to doing this?

this is my issue as well, i like to run alot of accounts and alternate but...since this update i might cut down to like 5 big ones and keep some aged?

its alot of changes in such short time..but no going back lol

[yankee]

I pay my fees from my bank accounts for years now. Also, they see it on the micro deposits anyways.

[smartguy]

Originally Posted by yankee

What you are saying makes zero sense. Dude, NOTHING is changing if you use a bank account. Nothing. Zero...

You do realize that ALL payment processors hold funds for 180 days if they want and that paypal is actually the most lenient of all payment processors?

Yes it does, as many people were keeping paypal balance till now. I saw people having 10 000 in paypal and so on.

TODAY EBAY SELLER:
- get 1000$ , keeps the balance
-paypal limit, paypal keeps 1000$

Tomorrow ebay seller;

-get 1000$, withdraw the balance
-paypal limit, paypal have 0 balance

- chargeback/ scams, he will close his bank account

[yankee]

Originally Posted by smartguy

Yes it does, as many people were keeping paypal balance till now. I saw people having 10 000 in paypal and so on.

TODAY EBAY SELLER:
- get 1000$ , keeps the balance
-paypal limit, paypal keeps 1000$

Tomorrow ebay seller;

-get 1000$, withdraw the balance
-paypal limit, paypal have 0 balance

- chargeback/ scams, he will close his bank account

What world do you live in? NOBODY was keeping paypal balances and not withdrawing funds or spending the money. That makes ZERO sense.
You make ZERO sense at all in anything you post.

This is BETTER for paypal and lowers the amount of ****ty paypal scammers because you are required to withdraw compared to instantly sending the funds.

[Gladiator]

Originally Posted by yankee

What world do you live in? NOBODY was keeping paypal balances and not withdrawing funds or spending the money. That makes ZERO sense.
You make ZERO sense at all in anything you post.

This is BETTER for paypal and lowers the amount of ****ty paypal scammers because you are required to withdraw compared to instantly sending the funds.

Shhhhhh! Stop making sense, no one needs this logic around here.

[Mr. Invisible]

This place is going to be flooded with posts in 4 weeks.

[dantigun]

Hi, I am new here so please excuse me if I say something stupid.

It seems this is happening a lot to newer accounts. 3 of my 5 accounts got hit with the update. What I learned was that VBA or no VBA, it does not matter, new stealth accounts now are almost going to get hit with this. On of my older stealth is working fine.

The is going to hit Non US sellers really hard and I guess stealth paypal will totally die for them. I myself being a Non US seller have no way to get a US bank account to get my funds withdrawn from Paypal, unless some service comes up which lets me withdraw to a card or something. This was implemented in India long time back, in Indian Paypal the funds get automatically withdrawn every day to your bank account, no bank account, no payapl. There's no personal account for selling, only Business. This was all done on Government's instructions and due to anti money laundering policies.

I guess the only way for Non US sellers to use US ebay and paypal is to ditch US paypal acc and move on to some other country ones which would still alow some way of withdrawal. I hope someone gets the fix for currently stuck money due to this and help us all out.

[Woodworker]

Originally Posted by slokor

That's one of the differences then - if you pay from your bank paypal will be able to determine that the name of the account holder is different than that of the paypal account owner.
Then again its been like this since forever - since they can pretty much obtain that information anyway when they do the micro deposit verification. They've never done anything about it before so who knows if they will now. Guess time will tell.
Worse case scenario it will have to be prepaid credit cards for payment. A pain - but doable.

Exactly- plus, when they "see" your mismatched names, since rules may be different, they might also act on the mismatch and not let it work- instead of ignoring the mismatch as they do now.

I would not be surprised if there are a few things like that which they do already that they just don't act on, and after April 19 they will.

Regardless, I personally am not going to let any payment pull from my bank after that update until someone confirms on here that they did it without issue- I would not be shocked if they start taking action on a few things like that after that TOS update, some of which I am going to kick myself for not having seen coming.

[smartguy]

19 more days

[yankee]

Originally Posted by smartguy

19 more days

It is already in effect for many or most new accounts. Nothing surprising at all. You cant do anything other than withdraw funds to a bank account IF you cant verify your Identity. It is EXCATLY what paypal has been saying for months.