PayPal TOS Update - Transfers for verified people only!

suspendedfoe · #67 03-07-2018

Quote:

Originally Posted by smartguy

SSN & DOBS must also match a real name/address?

Yes they must of they decline your request and then it only gives you an option to transferr the money out.

If the speculations are true then this will change the game for alot of us.

nate · #68 03-07-2018

Just a guess, but I think this applies more to sending money peer to peer than to receiving money through a market place. Guess we'll have to wait and see though.

ebaystealth1974 · #69 03-07-2018

They lose a TOOOOON of money with the Friends and Family thing.

empirestate · #70 03-07-2018

Quote:

Originally Posted by nate

Just a guess, but I think this applies more to sending money peer to peer than to receiving money through a market place. Guess we'll have to wait and see though.

You are wrong, I am getting "Claim it" messages and I sell on eBay...
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cp74 · #71 03-07-2018

All caused by KYC on cryptos i believe. People are l*undering money by exchanging and withdraws. Seller is happy, buyer is happy, win win. They sell 100 usd in btc and receive 110 usd to paypal for example. I saw bigger amounts and delta. But this is something PP also kills itself?

I already used better payment processors running on cryptos than PP. If it is, people may stop using PP. EB to fiat money through PP is something else, BTC to fiat money is something else. I don't know :( I can imagine the pressure on PP, i believe this is not something they want to limit.

Gladiator · #72 03-07-2018

Quote:

Originally Posted by dallis

Do you have Chase accounts at all? I get my Friday withdrawals on Saturday with them. Other banks it’s usually Sunday night when they process for Monday.

That's because the Fed handles these transactions, and they don't process credits and debits Friday night and Saturday night. They come back to work close to midnight on Sunday.

Some banks count 'pending' funds as available, Chase may be one of those, but technically the money isn't there in your account until the Fed actually processes the transaction.

If you watch your bank account you'll see that during the weekdays and most of the weekend you accumulate 'pending' transactions. Overnight they are processed and become 'completed'.

Yes, I'm aware of all of that since I'm not a moron. I was just stating that if he typically needs his funds faster Chase releases the funds on Saturday to the account from Friday transfers. There was no need to go into a big articulate explanation on how it works.

slokor · #73 03-07-2018

Quote:

Originally Posted by smartguy

SSN & DOBS must also match a real name/address?

Cmon now... youre a smartguy - what do you think?

nate · #74 03-07-2018

Quote:

Originally Posted by empirestate

You are wrong, I am getting "Claim it" messages and I sell on eBay...

What are your accounts like that you got this on? Bank account attached? VBA? or CC only? Give us some info. Its the only way to try and figure this out.

ebaystealth1974 · #75 03-07-2018

What is a "claim it" message?

Matce · #76 03-07-2018

Quote:

Originally Posted by suspendedfoe

Yes they must of they decline your request and then it only gives you an option to transferr the money out.

If the speculations are true then this will change the game for alot of us.

Not quite sure why this is really changing the game for us?
What do you do with your money other than pulling it out through a bank?
Yeah, you can pay suppliers and maybe buy some occasional stuff with a balance but ultimately it goes into a bank for 99% of us.

It's inconvenient but not a big deal overall.

Even if SS is required at sign-up, just start with business-account from the get-go. Problem solved.

All this really does is pi** off a lot of customers and paypal will be losing them. Weird move IMHO.

My GUESS is that paypal wants to "eliminate" balances and will implement fees for buyers when they use their card or bank. They pooped their pants when ebay dropped them.
Possibly fees coming for sellers as well when we pull money out through banks.
Beginning of the end for PayPal!

Matce · #77 03-07-2018

Quote:

Originally Posted by nate

What are your accounts like that you got this on? Bank account attached? VBA? or CC only? Give us some info. Its the only way to try and figure this out.

I also have the CLAIM IT on some accounts.
Bank (VBA) attached
VCC attached
Fully verified
Some sales from ebay

I will try to do a transfer to bank later to see if it works. (will bounce because of VBA but the actual functionality of withdrawal shouldn't be impacted)

slokor · #78 03-07-2018

Quote:

Originally Posted by Matce

I also have the CLAIM IT on some accounts.
Bank (VBA) attached
VCC attached
Fully verified
Some sales from ebay

I will try to do a transfer to bank later to see if it works. (will bounce because of VBA but the actual functionality of withdrawal shouldn't be impacted)

Testing it now will make little difference since these changes have no been implemented as of yet.

nate · #79 03-07-2018

So it kind of sounds like they are doing what ETSY/Aden does and you cant have an account without a bank account connected???

phaz0rz · #80 03-07-2018

Quote:

Originally Posted by Matce

I also have the CLAIM IT on some accounts.
Bank (VBA) attached
VCC attached
Fully verified
Some sales from ebay

I will try to do a transfer to bank later to see if it works. (will bounce because of VBA but the actual functionality of withdrawal shouldn't be impacted)

I'm interested to see how your experiment goes. Very nice of you to sacrifice your VBA for us.

phaz0rz · #81 03-07-2018

Quote:

Originally Posted by nate

So it kind of sounds like they are doing what ETSY/Aden does and you cant have an account without a bank account connected???

As a seller, yeah it sounds that way.

Or more precisely: you can receive payments but you can't do anything with them. If you add a bank or withdrawal eligible card you can withdraw but not spend. If you verify your ID you can withdrawal or spend.

nate · #82 03-07-2018

I would think logically that doesn't make sense. You would think that PP would want you to re-spend the money to get their cut.... not take it out of their system.

slokor · #83 03-07-2018

Since when are paypal known for their sound logic?

phaz0rz · #84 03-07-2018

Like the Greek guy was saying I think this is more a lack of options than a choice for PP.

Matce could be right about them wanting to eliminate PP balances since PP balances won't be good for much in 5 years. Nobody will want to have a PP balance when PP isn't used on eBay so PP is evolving.

They're also changing the fee structure for card withdrawals to make it more profitable for them.

I'm tired of thinking about this. I bet Paypal is having a good laugh right now.

nate · #85 03-07-2018

True that... I spent 15k in mining hardware in the last 4 months and this is the last thing I need right now.. I sure as sh1t cant live off $200 a wk mining profits.

LuckyGuy99 · #86 03-07-2018

That's why I don't want to deal with Paypal at all. A lot of stress and headache for us.

ebaystealth1974 · #87 03-07-2018

Quote:

Originally Posted by phaz0rz

I bet Paypal is having a good laugh right now.

I can see it now... some PP coder dude monitors these forums and decides to write a little bit of code and make a new button. Then they all get together and laugh at us!

Matce · #88 03-07-2018

Quote:

Originally Posted by ebaystealth1974

I can see it now... some PP coder dude monitors these forums and decides to write a little bit of code and make a new button. Then they all get together and laugh at us!

Just like we (or at least I) laugh when we/I get the "you're suspended, you can't use paypal in any way blahblahblah" email and I log into one of my other 50+ accounts a moment later