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- PayPal Talk
( https://www.aspkin.com/forums/paypal-talk/)
| Gladiator | 03-23-2018 05:04 AM |
Re: PayPal TOS Update - Transfers for verified people only!
No?
It's the same thing as before, now just making it so you can't shift money around without providing details. You can withdraw your funds...or provide a business tax id if your ssn is burned to do this.
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. |
| Mr. Invisible | 03-23-2018 07:10 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by empirestate
(Post 909497)
| Correction! These people are screwed...
1. The pump and dump crowd
2. Those cashing out by shifting money to other paypals with banks attached
3. Those cashing out by buying BTC
4. Non US citizens/residents operating US accounts remotely
That being said, Vanilla visas for every ebay account to pay fees are going to be a royal pain in the ass.
Would you be able to pay fees direct from a linked bank without revealing the real bank account details to paypal? |
| Hercules | 03-23-2018 07:29 AM |
Re: PayPal TOS Update - Transfers for verified people only!
I wonder if ebay fee's will be blocked on non-verified paypal accts. |
| phaz0rz | 03-23-2018 07:32 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Mr. Invisible
(Post 909528)
Correction! These people are screwed...
1. The pump and dump crowd
2. Those cashing out by shifting money to other paypals with banks attached
3. Those cashing out by buying BTC
4. Non US citizens/residents operating US accounts remotely
That being said, Vanilla visas for every ebay account to pay fees are going to be a royal pain in the ass.
| Too early to tell who's gonna be screwed. I think it's going to impact more than just shady stealthers.
More and more people are posting about having to send docs just to add a bank account. Could be a sign of what's to come.
This thread stresses me out. I'm out. :peace: |
| Mr. Invisible | 03-23-2018 07:40 AM |
Re: PayPal TOS Update - Transfers for verified people only!
I wonder if Paypal was testing the impact of this starting last year when they stopped letting users transfer money on new accounts. |
| Hercules | 03-23-2018 07:42 AM |
Re: PayPal TOS Update - Transfers for verified people only!
"The changes impact customers that hold balances in their PayPal account. We don't release those numbers. These changes will not impact all users, but ONLY U.S. users who wish to send money to third parties or make purchases using PayPal balance."
This is all about the Gov wanting all PP money taxed. They add these sneaky regulations in with some other bill packages never to be seen until it's too late. Unverified accts 'pump/dump' or whomever paying for almost everything under the radar on non-taxes income. Getting around the 200/20,000 rule completely. |
| phaz0rz | 03-23-2018 07:51 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Hercules
(Post 909541)
"The changes impact customers that hold balances in their PayPal account. We don't release those numbers. These changes will not impact all users, but ONLY U.S. users who wish to send money to third parties or make purchases using PayPal balance."
|
This part is a given.
But if you have to start verifying your identity before you can add a bank account, the traditional method of buying a stealth account and later upgrading to business will be a lot harder if not impossible.
I've been banking on my LLC/CA accounts surviving this update. Let's hope that's the case. |
| Hercules | 03-23-2018 07:58 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by phaz0rz
(Post 909542)
This part is a given.
But if you have to start verifying your identity before you can add a bank account, the traditional method of buying a stealth account and later upgrading to business will be a lot harder if not impossible.
I've been banking on my LLC/CA accounts surviving this update. Let's hope that's the case.
| If the quote I mention is correct, having a bank acct will do it. You just can't send/receive probably or buy. So multi sellers and multi owners of PP accts have to have many bank accts which puts a red flag on sellers and and many multi users of PP....maybe but highly unlikely.
The EIN# is what PP/Gov is wanting. You have to look at what they want...MONEY! notice this is only for US PP owners. They have a hard time taxing the Chinese sellers etc.... |
| yankee | 03-23-2018 08:31 AM |
Re: PayPal TOS Update - Transfers for verified people only!
I was reading that the list of eligible banks and credit cards is going to get pretty small. I know I cant add local banks and credit union debit cards. |
| phaz0rz | 03-23-2018 08:33 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by yankee
(Post 909557)
I was reading that the list of eligible banks and credit cards is going to get pretty small. I know I cant add local banks and credit union debit cards.
|
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. |
| ebaystealth1974 | 03-23-2018 09:49 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by empirestate
(Post 909497)
OMG We're all f*cked
__________________
PLETHORA OF ANNOYING TEXT
| There's nothing in that article that we didn't already know. |
| dallis | 03-23-2018 07:58 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Doesn't sound all that different from what we already face. |
| empirestate | 03-23-2018 08:00 PM |
Re: PayPal TOS Update - Transfers for verified people only!
|
| Gladiator | 03-23-2018 08:23 PM |
Re: PayPal TOS Update - Transfers for verified people only!
|
| slokor | 03-23-2018 11:19 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Gladiator
(Post 909666)
| Dont be so hasty to say that.
With the Lightning Network being set up and becoming more widely used transaction costs will go down to literally zero and transactions will be instantaneous. WHEN (not IF) this happens you can expect a huge boost to the price of Bitcoin and a tremendous push in the way it is utilized in every day tasks. Yes - buying that cup of coffee with Bitcoin will actually be a possibility and not in the far future.
Not saying it will completely replace paypal - but it will certainly bite further into its already diminishing market share. |
| nodeal | 03-24-2018 01:01 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Great thread, great info, thank you to all who contribute.
I am a USA pp user, and from what I am reading I will only be able to withdraw my funds to my verified bank account. This is okay with me as this is what I primarily use my funds for anyway.
However, I am dealing with an account that has a "Claim It" button and notice it will not allow me to use my PayPal balance to pay eBay fees. So it seems that as this rolls into all PP accounts, eBay fees will no longer be able to be paid using a PP balance. Very annoying. Even if I have a verified bank attached, will PayPal still not allow me to use my balance to pay my eBay fees?
I also wanted to know, if I have a verified bank account attached to my pp and I still use PP as my automatic payment method with the fees set to be taken from my verified bank linked to my PayPal, will this hurt the integrity of my stealth PayPal at all? I read if you fund your pp account with funds from your bank then they are able to see the name of the bank or something like that. Does the same apply when you use your bank to pay your fees?
I have many newer budding accounts with unverified pay pals which it seems I will have to pay fees using prepaid cards. Then I of course have my many running bank verified accounts which I also need to worry about paying fees. Sometimes my fees rack up to pretty large amounts. What are ya'll doing to make this situation as easy as possible? |
| Gladiator | 03-24-2018 01:04 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by slokor
(Post 909678)
Dont be so hasty to say that.
With the Lightning Network being set up and becoming more widely used transaction costs will go down to literally zero and transactions will be instantaneous. WHEN (not IF) this happens you can expect a huge boost to the price of Bitcoin and a tremendous push in the way it is utilized in every day tasks. Yes - buying that cup of coffee with Bitcoin will actually be a possibility and not in the far future.
Not saying it will completely replace paypal - but it will certainly bite further into its already diminishing market share.
| I strongly doubt that the average person is going to pay/deal with an unregulated, easily manipulated currency on a regular basis, especially to even do basic low-level purchases.
As a recent Forbes article pointed out, regulation is needed to handle the price market, but the point is to avoid government regulations. There's a paradoxical situation with it - which is why your basic person isn't getting involved.
Plus, there's no standard to get people started that aren't tech savvy. Scams are rife, hackers steal coin wallets....which hey, happens with banks too, but there's no law in this land.
PayPal, or similar payment processors, are safe/known/trusted by millions. They aren't jumping ship just because they may fork over an EIN or Bank. Etsy has millions of sellers that did just that. How many sellers, according to their IPO, did they lose changing over? Less than 25,000. People like familiar, trusted brands.
Just my take on it. You could very well end up being right, but from my perspective I think it isn't happening until there's some form of regulation and standardization. |
| empirestate | 03-24-2018 01:19 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Gladiator
(Post 909694)
I strongly doubt that the average person is going to pay/deal with an unregulated, easily manipulated currency on a regular basis, especially to even do basic low-level purchases.
As a recent Forbes article pointed out, regulation is needed to handle the price market, but the point is to avoid government regulations. There's a paradoxical situation with it - which is why your basic person isn't getting involved.
Plus, there's no standard to get people started that aren't tech savvy. Scams are rife, hackers steal coin wallets....which hey, happens with banks too, but there's no law in this land.
PayPal, or similar payment processors, are safe/known/trusted by millions. They aren't jumping ship just because they may fork over an EIN or Bank. Etsy has millions of sellers that did just that. How many sellers, according to their IPO, did they lose changing over? Less than 25,000. People like familiar, trusted brands.
Just my take on it. You could very well end up being right, but from my perspective I think it isn't happening until there's some form of regulation and standardization.
| Stick to what you know best, nothing...
__________________ Numbers for SMS Verifications Setup multiple portable Firefox Use Paypal correctly Add NEW PP to eBay Clean photos Bulk resize images |
| Gladiator | 03-24-2018 01:41 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by empirestate
(Post 909698)
Stick to what you know best, nothing...
| https://assets.rbl.ms/2902889/980x.jpg
It's always amusing when a man attempts to talk down to me.
I provided a factual basis for my opinion, gave a reference, and am thinking with a rational sense. I realize this doesn't apply to you, so...keep on thinking the moms at Target or grandma selling her knits are going to setup bitcoin wallets. |
| slokor | 03-24-2018 02:00 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Empirestate - seriously? You going to lecture people on not knowing anything? LOL!!! You DO know youre the running joke on this forum right? The jester. The clown. And the joke is almost always on you.
When you start writing ACTUAL responses - that contain ACTUAL information, That ACTUALLY contribute to the discussion, That are more than 10 words long, that are not complete nonsense - then, maybe, youll start to earn some respect. Until then get used to your position at the bottom of the ladder.
Now crawl back to your corner and try to keep yourself from spewing further garbage and interrupting people who are actually trying to converse.
By the way - I know many of these words are too 'big' for you. Its called a thesaurus - use it! |
| slokor | 03-24-2018 02:03 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Gladiator - I understand and agree with much of what you said.
I dont think this is a process that will occur overnight but within the next 3-5 years I believe we will see this technological advancement get a much wider adoption.
Its the same with every other technology. Seeing my dad playing around on a tablet that he was completely resistant to for the longest time demonstrates to me that eventually even the most stubborn have to adapt. |
| Gladiator | 03-24-2018 02:05 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by slokor
(Post 909704)
Empirestate - seriously? You going to lecture people on not knowing anything? LOL!!! You DO know youre the running joke on this forum right? The jester. The clown. And the joke is almost always on you.
When you start writing ACTUAL responses - that contain ACTUAL information, That ACTUALLY contribute to the discussion, That are more than 10 words long, that are not complete nonsense - then, maybe, youll start to earn some respect. Until then get used to your position at the bottom of the ladder.
Now crawl back to your corner and try to keep yourself from spewing further garbage and interrupting people who are actually trying to converse.
By the way - I know many of these words are too 'big' for you. Its called a thesaurus - use it!
| Thanks! I didn't feel our discussion was dismissive of each other, just both of us with different takes/views on what's going on having an open chat. That's a good thing tho, debate and dialog are how you solve problems or come up with new ideas.
Someone taking immediate offense and accusing someone of knowing nothing when they're basically the definition of a charlatan themselves is hilarious. |
| BiN4RY | 03-24-2018 02:07 AM |
Re: PayPal TOS Update - Transfers for verified people only!
I always listens to financial advice random strangers on the internet, because they're always 100% correct and reliable |
| Gladiator | 03-24-2018 02:12 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by slokor
(Post 909705)
Gladiator - I understand and agree with much of what you said.
I dont think this is a process that will occur overnight but within the next 3-5 years I believe we will see this technological advancement get a much wider adoption.
Its the same with every other technology. Seeing my dad playing around on a tablet that he was completely resistant to for the longest time demonstrates to me that eventually even the most stubborn have to adapt.
| Oh, absolutely. My mom and dad both couldn't tell you how to turn on my iMac, but they both regularly use iPhones and iPads without problems. I think if there's a good, standard, non-confusing way to start people will join in the market that otherwise wouldn't, but until that time I can't see a lot of non-tech, mostly younger group growing the user base to even diminish the impact PayPal's and similar services have.
So, yeah the 3-5 years is a good guess. Right now I'd venture that around the time PayPal is no longer standard on eBay (but still will be accepted via Adyen) and the markets stabilize some with crypto that PayPal will be on a more downward trend - not enough to close them or anything, but their hold on the market will be impacted clearly. I don't think they are ever going to go away as too many people have trusted them for over a decade. |
| Hercules | 03-24-2018 09:05 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Gladiator
(Post 909708)
Oh, absolutely. My mom and dad both couldn't tell you how to turn on my iMac, but they both regularly use iPhones and iPads without problems. I think if there's a good, standard, non-confusing way to start people will join in the market that otherwise wouldn't, but until that time I can't see a lot of non-tech, mostly younger group growing the user base to even diminish the impact PayPal's and similar services have.
So, yeah the 3-5 years is a good guess. Right now I'd venture that around the time PayPal is no longer standard on eBay (but still will be accepted via Adyen) and the markets stabilize some with crypto that PayPal will be on a more downward trend - not enough to close them or anything, but their hold on the market will be impacted clearly. I don't think they are ever going to go away as too many people have trusted them for over a decade.
| empirestate is laughing at all of you. It's so obvious he's taunting everyone for a response...you all go for it like a dog bone
Maybe you like to dump on him to let off steam...very....snore.. |
| slokor | 03-24-2018 11:41 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Hercules
(Post 909736)
empirestate is laughing at all of you. It's so obvious he's taunting everyone for a response...you all go for it like a dog bone
Maybe you like to dump on him to let off steam...very....snore..
| Wow!
Never thought id see the day that Empirestate would get a 'fanboy'.
Its a very small and exclusive club of one.
Enjoy high fiving yourself pal. LOL!!!! |
| hype_supply | 03-24-2018 01:07 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by nodeal
(Post 909690)
Great thread, great info, thank you to all who contribute.
I am a USA pp user, and from what I am reading I will only be able to withdraw my funds to my verified bank account. This is okay with me as this is what I primarily use my funds for anyway.
However, I am dealing with an account that has a "Claim It" button and notice it will not allow me to use my PayPal balance to pay eBay fees. So it seems that as this rolls into all PP accounts, eBay fees will no longer be able to be paid using a PP balance. Very annoying. Even if I have a verified bank attached, will PayPal still not allow me to use my balance to pay my eBay fees?
I also wanted to know, if I have a verified bank account attached to my pp and I still use PP as my automatic payment method with the fees set to be taken from my verified bank linked to my PayPal, will this hurt the integrity of my stealth PayPal at all? I read if you fund your pp account with funds from your bank then they are able to see the name of the bank or something like that. Does the same apply when you use your bank to pay your fees?
I have many newer budding accounts with unverified pay pals which it seems I will have to pay fees using prepaid cards. Then I of course have my many running bank verified accounts which I also need to worry about paying fees. Sometimes my fees rack up to pretty large amounts. What are ya'll doing to make this situation as easy as possible?
| I'm wondering the same thing. Anyone have any insight? |
| Gladiator | 03-24-2018 04:00 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Hercules
(Post 909736)
empirestate is laughing at all of you. It's so obvious he's taunting everyone for a response...you all go for it like a dog bone
Maybe you like to dump on him to let off steam...very....snore..
| I’ve never said anything out of the way to him before. Sorry, I’m not letting someone insult and mock me while having a civil discussion with another poster. |
Re: PayPal TOS Update - Transfers for verified people only!
No stealth PP? OK localbitcoins and coin mixers are already there. This is more than US tax issue. It's to stay away people during "election" campaigns. Paypal is not an exchange. This AML KYC approach is too much for a payment processor. There are already many bitcoin based better processors.
There is something specific with US PP only i believe. Internationally they are still same, right? |
| Kajunrook | 03-24-2018 04:16 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Well it boils down to you cannot do ANYTHING with a paypal that has not been ID verified except transfer to your attached bank account, cannot buy anything using balance, cannot pay Ebay fees, cannot pay Ebay shipping, nothing, nada, zilch.
That pretty much sums it up. Quote:
Originally Posted by hype_supply
(Post 909760)
I'm wondering the same thing. Anyone have any insight?
| |
| empirestate | 03-24-2018 04:27 PM |
Re: PayPal TOS Update - Transfers for verified people only!
|
| ebaystealth1974 | 03-24-2018 06:11 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by empirestate
(Post 909784)
To sum it up, Crypto is looking better and better, it is the future INDEED!
| Gahhhdaaammmmmm, if I have to read this ignorant sh*t one more time today. I swear to phuck... are you bumping every single thread with this horsesh*t nonsense?! :rant: |
| slokor | 03-24-2018 06:24 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by empirestate
(Post 909784)
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 | 03-24-2018 06:27 PM |
Re: PayPal TOS Update - Transfers for verified people only!
[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 :violin: :rip |
| smartguy | 03-24-2018 06:33 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by phaz0rz
(Post 909559)
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 | 03-24-2018 06:36 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Gladiator
(Post 909506)
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.. :hellBoy: |
| smartguy | 03-24-2018 06:41 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Called again yesterday , they told me to ignore those e-mails, as they might be phishing =)) |
| yankee | 03-24-2018 09:00 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by smartguy
(Post 909818)
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 | 03-24-2018 09:03 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by smartguy
(Post 909817)
This is against them. They won't be able to limit people money for 180 days.. :hellBoy:
| 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 | 03-24-2018 09:04 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by smartguy
(Post 909815)
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. |
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