PayPal TOS Update - Transfers for verified people only!

yankee · #**243** 03-12-2018

all in all, for people running accounts with bank accounts, not much seems to be different. Just a few things will be more of a PITA. Kills the need for little accounts and spending the money etc...

iceman420 · #**244** 03-12-2018

Quote:

Originally Posted by Gladiator

Can’t you guys just get EINs and this becomes a non-issue?

when you have 30+ accounts it really makes that a PITA

Gladiator · #**245** 03-12-2018

Quote:

Originally Posted by iceman420

when you have 30+ accounts it really makes that a PITA

Having that many banks and EINs aren’t that hard to manage. I have a dozen or so, I could easily double that and not find it any more troublesome to pay tax for and assigning business expenses. Just have proper bank and tax management software and you’re off to the races.

slokor · #**246** 03-12-2018

Quote:

Originally Posted by iceman420

when you have 30+ accounts it really makes that a PITA

I have 35 accounts all linked to their own Bank accounts.
Have had this setup for over 6 years now and never had an issue.
Its easily doable.

empirestate · #**247** 03-12-2018

Quote:

Originally Posted by yankee

all in all, for people running accounts with bank accounts, not much seems to be different. Just a few things will be more of a PITA. Kills the need for little accounts and spending the money etc...

Did you call PP today? What did they tell you? Is it the end of the world?

Hercules · #**248** 03-12-2018

I don't think much will change. You have to have them all verified with a bank. The EIN should be asked for as before or like now. Why give that up (Ebay). What new seller trying to get rid of home items is going to get an EIN for that?

empirestate · #**249** 03-12-2018

Quote:

Originally Posted by Hercules

I don't think much will change. You have to have them all verified with a bank. The EIN should be asked for as before or like now. Why give that up (Ebay). What new seller trying to get rid of home items is going to get an EIN for that?

Not sure if you were reading, but adding banks ain't going to cut it anymore... PP has algo to determine if you are verified or not. If not, you get the "Claim It" message. GO GO CRYPTOS!

Hercules · #**250** 03-12-2018

Quote:

Originally Posted by empirestate

Not sure if you were reading, but adding banks ain't going to cut it anymore... PP has algo to determine if you are verified or not. If not, you get the "Claim It" message. GO GO CRYPTOS!

I guess stealth is over then.

empirestate · #**251** 03-12-2018

Quote:

Originally Posted by Hercules

I guess stealth is over then.

Paypal is dead. Go go go Cryptos!

slokor · #**252** 03-12-2018

Bottom line is we dont know anything yet.
We'll find out in time.
Everyone needs to stop freaking out over this and just wait till we get more info.

empirestate · #**253** 03-12-2018

I think it's pretty safe to say that we need to EMPTY all accounts before this date comes.

slokor · #**254** 03-12-2018

LOL!
Alright then. Yet another gem of wisdom from the stealth guru himself.
Sounds like somebody is in full panic mode.
Calm down and just wait till we find out more. You wouldnt want to look like a fool if this doesnt turn out to be 'the end of paypal' now would you...? oops too late...

Kajunrook · #**255** 03-13-2018

Yes, this is Paypal vs Ebay. Paypal is pi$$ed that Ebay is moving platforms and is going after Ebay Sellers that only use paypal for Ebay. Of course that is just my opinion I could be wrong (SNL)

Quote:

Originally Posted by suspendedfoe

Everyone needs to calm down. What is this PayPal vs eBay?

phaz0rz · #**256** 03-13-2018

Quote:

Originally Posted by Kajunrook

Yes, this is Paypal vs Ebay. Paypal is pi$$ed that Ebay is moving platforms and is going after Ebay Sellers that only use paypal for Ebay. Of course that is just my opinion I could be wrong (SNL)

Doubt it. Paypal still needs money now to make investors happy, and most of their money comes from eBay sellers.

If we're going to speculate, this could also be plausible:

eBay had advanced knowledge of the Paypal UA update so they know a lot of sellers will soon stop selling because they won't be able to process payments. eBay introduces a new payment processor right around the time the Russia investigation causes Paypal to become wayy more regulated so that sellers don't abandon the platform once they're unable to use Paypal.

The timelines don't quite add up, but I think Adyen/UA update are related no doubt.

Got the update email yesterday on my business accounts

Kajunrook · #**257** 03-13-2018

Quick Question, I have a 5000/500,000 account that i just started listing on. Should I go online and get an EIN and add asap along with a new bank acct.

Quote:

Originally Posted by phaz0rz

Doubt it. Paypal still needs money now to make investors happy, and most of their money comes from eBay sellers.

If we're going to speculate, this could also be plausible:

eBay had advanced knowledge of the Paypal UA update so they know a lot of sellers will soon stop selling because they won't be able to process payments. eBay introduces a new payment processor right around the time the Russia investigation causes Paypal to become wayy more regulated so that sellers don't abandon the platform once they're unable to use Paypal.

The timelines don't quite add up, but I think Adyen/UA update are related no doubt.

Got the update email yesterday on my business accounts

yankee · #**258** 03-13-2018

Quote:

Originally Posted by phaz0rz

Got the update email yesterday on my business accounts

Any have the 25K max withdrawing monthly limit?

phaz0rz · #**259** 03-13-2018

Quote:

Originally Posted by yankee

Any have the 25K max withdrawing monthly limit?

No, I haven't noticed any withdrawal limits yet.

@kajun - Wouldn't hurt but nobody knows for sure if it's going to be enough come 4/18.

smartguy · #**260** 03-13-2018

Have anyone noticed "claim now" for direct payments? or it appeared only for ebay sales?

Hercules · #**261** 03-13-2018

i haven't seen one.

smartguy · #**262** 03-13-2018

It seems that those Russian used real people info, SSN ,DOB , even get ⊗⊗⊗⊗ driving license to buy ads all over the internet...

Quote:

"Russian operators used stolen American identities to open bank and PayPal accounts, create ⊗⊗⊗⊗ driver's licenses, post messages online, and buy political advertisements before the 2016 election," The Wall Street Journal writes, adding that "the operators allegedly kept a list of more than 100 Americans and their political views to 'monitor recruitment efforts.'"

phaz0rz · #**263** 03-13-2018

Quote:

Originally Posted by smartguy

It seems that those Russian used real people info, SSN ,DOB , even get ⊗⊗⊗⊗ driving license to buy ads all over the internet...

I think the problem is how easy it was for them to obtain identities on the dark web and create fully verified Paypal accounts with them. The same loopholes that make running stealth accounts possible for good sellers made is possible for foreigners to conduct business posing as Americans.

cp74 · #**264** 03-13-2018

I think PP doesn't want to quit from the payment market too. Otherwise crypto will dominate the market and US will be introduced with real Russians

They sell everything in dark markets. Not smart like a stealth, all harmful.

I'm pretty sure folks from PP read here. They were all aware of stealth. Everyone are all aware of darknet too. I believe "they" will make a choice. What happened before elections were their stupidity. I hope they will learn to differentiate things!

This turned to be so social...