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Re: PayPal TOS Update - Transfers for verified people only!
 

1099 comes in my personal name. If you verify with a SSN they don't match to the business name, which I change at whim any way, they match to your personal details. You can make the account a sole proprietorship during setup, they just allow a DBA name too.

Re: PayPal TOS Update - Transfers for verified people only!
 

I guess that clears things up, a little.

I've always used an LLC and a new EIN when I upgrade accounts so I can have more than one business account. I don't know why one type of business account would get the email while another type of business account doesn't, but I've checked 2 out of 3 now and neither has the UA update email.

Re: PayPal TOS Update - Transfers for verified people only!
 

I keep my SSN ones as I have the debit card for them. It has my name on the card vs business name too. I have a few EIN ones, but I only use them during the holiday months.

Re: PayPal TOS Update - Transfers for verified people only!
 

Some people are drop shippers, others buy in bulk. I don't see why I will have to withdraw to an US account(0% fee) then pay again from the same bank for example( no fee for me also) !?

:noidea:

Re: PayPal TOS Update - Transfers for verified people only!
 

I think the bottom line is they're trying to cut fraud. Too many people selling illegal stuff, then buying crypto, then letting PP eat the loss on the chargeback. (claim? idk)

You can just use Canadian accounts smartguy.

Re: PayPal TOS Update - Transfers for verified people only!
 

How is this going to cut fraud if you dont need your SSN when you send a credit card payment?
The only thing theyre saying here is youll need this verification (be it SSN or whatever) in order to send a transfer from your BALANCE. Meaning it is NOT necessary when using a credit card for payment.
How is this going to cut down any kind of fraud? If anything balance transfers involve LESS fraud cause theyre controlled by paypal and are in their system already as opposed to a credit card payment that can be chargebacked and is outside their control.

Re: PayPal TOS Update - Transfers for verified people only!
 

this is true

Re: PayPal TOS Update - Transfers for verified people only!
 

It's going to cut fraud because of the scenario I described. Paypal probably takes the biggest losses from counterfeiters. Thanks to crypto, counterfeiters can sell their stuff and cash out without ever adding a bank by purchasing crypto at a 30% markup. Regardless of how the buyer funded their purchase they come back wanting their money back. Paypal ends up slamming an account with a huge negative balance and the seller abandons it.

I understand there's fraud involving credit cards too but I was talking more about sellers scamming Paypal and Paypal having nothing they can do because they have no idea who the seller really is.

Re: PayPal TOS Update - Transfers for verified people only!
 

I highly doubt that's the reasoning behind it and that that's the reason for this update. I just dont see it being a significant factor on paypal's daily operations.
Especially since those accounts can still operate on other ebay platforms with paypal accounts in other countries. This update doesnt do anything to stop that.

Re: PayPal TOS Update - Transfers for verified people only!
 

what about "grandfathered accounts" say you have older running accounts that have a verified cc but no bank do the rules apply after April 19th? I am wondering would they claim future payments and force SSN or bank account for transfer?

What do you guys think?

Re: PayPal TOS Update - Transfers for verified people only!
 

From what certain people who have spoken to Ebay customer service reps are telling me it sounds like the plan is to request an SSN from ALL accounts.
In my opinion that move coupled with the separation from ebay will be a couple of nails in the coffin for paypal. It sounds like theyre doing everything in their power to become irrelevant by pushing future and current customers away.

Re: PayPal TOS Update - Transfers for verified people only!
 

sloker, I was understanding that they are only requiring a bank account. What am I missing about SS?

Re: PayPal TOS Update - Transfers for verified people only!
 

Think about it.
The wording is if you cannot verify yourself then you can only withdraw funds to your bank account. This to me means that even having a bank account already attached is not going to be sufficient for verification because theyre referring to the ability to withdraw to the bank account that is already there.
Again - I heard this from two sources now that have spoken extensively to paypal customer service reps - theyre being told that an SSN will be required to activate that functionality. Whether or not this is actually the case is anybody's guess at this point because from my personal experience those reps usually know less than nothing.
Time will tell.

Re: PayPal TOS Update - Transfers for verified people only!
 

100% of my accounts are verified on ebay and of course ebay never asked for my SS number.

Time will tell I guess. Wont effect me much either way.

Re: PayPal TOS Update - Transfers for verified people only!
 

Yes if you have your bank accounts attached and all you do is withdraw your funds out then this has almost no impact on you.
If youre NOT in the US though and do NOT have the ability to withdraw your funds then this pretty much negates the option of using US accounts.

Re: PayPal TOS Update - Transfers for verified people only!
 

Other than areas that cannot access PayPal locally, what is the benefit of using US accounts over others? Is this a drop shipper thing?

Re: PayPal TOS Update - Transfers for verified people only!
 

buy supplies, paying coders ,etc

Re: PayPal TOS Update - Transfers for verified people only!
 

Gladiator : how do you plan paying your ebay fees btw?

Re: PayPal TOS Update - Transfers for verified people only!
 

Paypal. My accounts are all SSN verified or have EINs attached so this doesn’t change how I pay my fees or run my businesses on eBay. Doesn’t change my Etsy shops either.

Re: PayPal TOS Update - Transfers for verified people only!
 

If you have multiple accounts how are they all SSN verified...? unless youre using SSNs that are not your own which is not exactly legal...

Re: PayPal TOS Update - Transfers for verified people only!
 

I think he is referring to the requirements like win/SSN and worded it wrong. If he is using stolen SSN I doubt he would say that lol

Re: PayPal TOS Update - Transfers for verified people only!
 

His words are : "My accounts are all SSN verified..."
I certainly hope that was worded wrong then.

Re: PayPal TOS Update - Transfers for verified people only!
 

She has hers and one account she shares with her mother as they run a joint business. All other accounts still contain real info, just verified with EIN. I have more accounts than the amount of emails I can attach to each account. If they didn’t cap it off I’d just run one.

So unlike your first impression, what I am doing is perfectly legal.

Re: PayPal TOS Update - Transfers for verified people only!
 

Im glad to hear it :)
Wouldnt want anyone to get in trouble.

Re: PayPal TOS Update - Transfers for verified people only!
 

I’m completely against making ⊗⊗⊗⊗ docs or using stolen/forged info. I have managed to not run into many PayPal issues, just mostly Etsy messing with me thanks to competition. I would move on to websites or other platforms if it ever got to the point of breaking the law to do business. Even forging invoices is something I have an issue with.

I just check in on these threads as I do have EIN based accounts, still legit, and don’t want to lose those as I’d be over the limit for business accounts using my SSN. :)

Re: PayPal TOS Update - Transfers for verified people only!
 

I just made 3 calls to PayPal , talked to 3 people and they have no idea about that. I was asking all those 3 girls "Haven't you got that e-mail as well?!". They all ended up telling me "I can see no restrictions on your accounts whatsoever" "You have no limits, please feel free to send and receive as much money as you wish" <---- this made my day =))

Re: PayPal TOS Update - Transfers for verified people only!
 

They're just baiting you, and it's possible the reps you spoke with haven't got the memo yet. At least 2 other users I know of had a much more ominous experience on the phone with PP recently.

Re: PayPal TOS Update - Transfers for verified people only!
 

"I can see no restrictions on your accounts whatsoever" "You have no limits, please feel free to send and receive as much money as you wish"

For now.

Re: PayPal TOS Update - Transfers for verified people only!
 

I just bought close to 1k worth of $100 gas cards @ $94 a piece to clear out my accounts without a BA. What a PITA this is going to be. SMV has a special today so get em while you can.

Re: PayPal TOS Update - Transfers for verified people only!
 

What would happen to the balance-money, when this update happens, if you don't have a bank account for it to withdraw to?

Re: PayPal TOS Update - Transfers for verified people only!
 

No clue, but by the sound of it it will be stuck there.

Re: PayPal TOS Update - Transfers for verified people only!
 

Seems weird. They are going to have BUNCH of pissed of people, if that's the case.

Re: PayPal TOS Update - Transfers for verified people only!
 

Paypal will tell those people that their hands are tied by money laundering regulations, and that verifying yourself via doxxing is an easy solution.

@nate - source? were they digital cards or something?

Re: PayPal TOS Update - Transfers for verified people only!
 

@Phazorz

So if I have personal bank accounts attached... If I get EIN nubmers will I have to open up new BA's in the business name and switch BA's on PP?

Re: PayPal TOS Update - Transfers for verified people only!
 

You'll end up with the "claim it" message from that screenshot that's been floating around.

Re: PayPal TOS Update - Transfers for verified people only!
 

Nah.

Business PP withdrawals going into a personal account work fine.

Re: PayPal TOS Update - Transfers for verified people only!
 

They are physical cards

we still need hard proof before we decide...this is PayPal and I am sure it will surprise you.

Re: PayPal TOS Update - Transfers for verified people only!
 

Hard proof of what? Proof that Paypal plans to implement the update they announced? I think it's been proven.

Only asked about the cards because it's rare in my experience to find a seller who will sell gift cards to an unverified account.

Re: PayPal TOS Update - Transfers for verified people only!
 

SMV seller on ebay. Actual hard cards sent through mail. Best seller on eBay. They have $100 speed way cards for $94 right now.

Re: PayPal TOS Update - Transfers for verified people only!
 

Proven? We have an idea only