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- PayPal Talk
( https://www.aspkin.com/forums/paypal-talk/)
| smartguy | 03-06-2018 10:33 AM |
PayPal TOS Update - Transfers for verified people only!
Game over for stealth? I always asked myself how came paypal does not increase their security like asking for a fingerprint each time you pay,etc. https://www.paypal.com/us/webapps/mp...-policies-full Quote:
We’re changing the balance functionality for your PayPal account depending on whether we have been able to verify identifying information that you provide to us.
If we have not verified your identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card.
If we have verified your identifying information, a balance in your PayPal account can be held in your PayPal account, transferred to a linked bank account or debit card, used to make purchases or send money to others.
Restrictions and limitations on such accounts may be lifted upon validation of the user’s identity by PayPal.
| |
| ebaystealth1974 | 03-06-2018 10:34 AM |
Re: PayPal TOS Update - Transfers for verified people only!
So, purchasing and sending money to others will be the only problem? Doesn't affect me. |
| smartguy | 03-06-2018 10:38 AM |
Re: PayPal TOS Update - Transfers for verified people only!
I am asking myself, how they are going to verify those informations? |
| phaz0rz | 03-06-2018 10:39 AM |
Re: PayPal TOS Update - Transfers for verified people only!
I knew there was a reason behind the "claim your money" screenshot somebody posted a few weeks ago.
Next they'll tighten down on banks commonly used for "VBA's".
In response to your 2nd post, they aren't. They're just going to start requiring a bank account be attached before you can spend/send funds. |
| phaz0rz | 03-06-2018 10:40 AM |
Re: PayPal TOS Update - Transfers for verified people only!
This won't be too major of an obstacle for stealth account users since sending money between accounts is bad practice anyway. |
| dallis | 03-06-2018 11:35 AM |
Re: PayPal TOS Update - Transfers for verified people only!
I suppose it depends on what "verified your identifying information" turns out to mean. Not very specific, is it? |
| suspendedfoe | 03-06-2018 12:39 PM |
Re: PayPal TOS Update - Transfers for verified people only!
This is something PayPal did long ago with the verifying if u send money back in 2013. I was able to. By pass it by trying refresh page etc. After a while you needed a valid phone number.
The claim it page require s SSN...so if they truly implement it we are screwed..you can only have so many debits/bank accounts |
| phaz0rz | 03-06-2018 01:15 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by just_smile
(Post 905576)
Ive had that for years every now and again, usually on international payments, just fyi.
| The scenario I mentioned required the user to add a SSN or bank account (in other words, verify their account) to "claim the payment". Are you sure you're talking about the same type of notice?
We have international payments randomly held on a regular basis also but I believe this is something totally different.
Here's the thread: https://www.aspkin.com/forums/paypal...ss-needed.html
And the user's screenshot: http://oi64.tinypic.com/ups93.jpg
EDIT: The only time I've seen this type of notice in the past is when I tried to send an invoice from an unverified account. Once the invoice was paid Paypal told me I needed to verify my account to claim the payment. I didn't want to verify the account so I just cancelled the payment. |
| phaz0rz | 03-06-2018 01:19 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by suspendedfoe
(Post 905587)
you can only have so many debits/bank accounts
| There's no limit on how many bank accounts you can have
:noidea: |
| suspendedfoe | 03-06-2018 01:53 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by phaz0rz
(Post 905601)
There's no limit on how many bank accounts you can have
:noidea:
|
I understand that but would you open a bank/debit for every single account you have? Say you have 50...I sometimes buy instead of using a bank...you know what I mean? |
| just_smile | 03-06-2018 02:19 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by phaz0rz
(Post 905600)
The scenario I mentioned required the user to add a SSN or bank account (in other words, verify their account) to "claim the payment". Are you sure you're talking about the same type of notice?
We have international payments randomly held on a regular basis also but I believe this is something totally different.
Here's the thread: https://www.aspkin.com/forums/paypal...ss-needed.html
And the user's screenshot: http://oi64.tinypic.com/ups93.jpg
EDIT: The only time I've seen this type of notice in the past is when I tried to send an invoice from an unverified account. Once the invoice was paid Paypal told me I needed to verify my account to claim the payment. I didn't want to verify the account so I just cancelled the payment.
| Thats not the thread i was thinking of. So ignore me. Sorry! |
| slokor | 03-06-2018 02:25 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by suspendedfoe
(Post 905611)
I understand that but would you open a bank/debit for every single account you have? Say you have 50...I sometimes buy instead of using a bank...you know what I mean?
| I have 35 ebay/PP accounts and each paypal has its own bank account.
Never had an issue with it. |
| empirestate | 03-06-2018 03:03 PM |
Re: PayPal TOS Update - Transfers for verified people only!
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| phaz0rz | 03-06-2018 03:08 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by empirestate
(Post 905630)
Go go cryptos.......
| 1) Please stop copy/pasting your links. You're subscribed now so you can set up a real sig.
2) Go go crypto's where? This update effectively puts an end to buying crypto with unverified PP funds.
:thumb: |
| empirestate | 03-06-2018 03:45 PM |
Re: PayPal TOS Update - Transfers for verified people only!
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| yankee | 03-06-2018 03:48 PM |
Re: PayPal TOS Update - Transfers for verified people only!
^^^^ That is what this thread is all about. |
| empirestate | 03-06-2018 03:50 PM |
Re: PayPal TOS Update - Transfers for verified people only!
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| ebaystealth1974 | 03-06-2018 04:35 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by yankee
(Post 905646)
^^^^ That is what this thread is all about.
| You know his ass ain't reading anything before he posts! Just random sh*t lol |
| LuckyGuy99 | 03-06-2018 06:45 PM |
Re: PayPal TOS Update - Transfers for verified people only!
You didn't mention one important thing. This update is only for US paypal accounts. 🤔 |
| smartguy | 03-06-2018 07:16 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by LuckyGuy99
(Post 905674)
You didn't mention one important thing. This update is only for US paypal accounts. 🤔
| for now... |
| Gladiator | 03-06-2018 07:23 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by phaz0rz
(Post 905557)
This won't be too major of an obstacle for stealth account users since sending money between accounts is bad practice anyway.
| And most accounts have banks attached to them for one reason or another anyway. |
| LuckyGuy99 | 03-06-2018 07:28 PM |
Quote:
Originally Posted by Gladiator
(Post 905680)
And most accounts have banks attached to them for one reason or another anyway.
| PP don't force us to link a bank account. There is one more option, to link a debit card. |
| Gladiator | 03-06-2018 07:39 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by LuckyGuy99
(Post 905681)
PP don't force us to link a bank account. There is one more option, to link a debit card.
| I'm sure most people on here choose bank accounts to get their deposits given the stealth nature of most of their accounts. So, logically, this shouldn't be a big deal for anyone whose doing business regularly through any particular account. |
| smartguy | 03-07-2018 09:59 AM |
Re: PayPal TOS Update - Transfers for verified people only!
until you need to pay your supplier with paypal too ... |
| phaz0rz | 03-07-2018 10:00 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by smartguy
(Post 905783)
until you need to pay your supplier with paypal too ...
| Paying a supplier with PP adds 4-5% to your total and tells Paypal exactly where your inventory comes from. Definitely not the best way to use PP funds.
Even still, it's not hard to add a VBA. Yet. |
| smartguy | 03-07-2018 10:04 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Who says they will verify that information with a VBA only? |
| yankee | 03-07-2018 10:05 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by smartguy
(Post 905788)
Who says they will verify that information with a VBA only?
|
VBA is a bank account in paypals eyes. That is the point of Virtual Bank Accounts. I dont understand your question. |
| phaz0rz | 03-07-2018 10:16 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by smartguy
(Post 905788)
Who says they will verify that information with a VBA only?
| You have a good point.
Going by PP's current definition of "verified", that means adding a tax ID or a bank account to a US account. Let's hope they don't change their definition of verified.
If they were to change it to where you have to submit docs to become verified, right around the same time eBay is breaking up with Paypal, they would probably go out of business. |
| Ebayorbust | 03-07-2018 10:21 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
If there were to change it to where you have to submit docs to become verified, right around the same time eBay is breaking up with Paypal, they would probably go out of business.
| They've effectively had that requirement on EU Paypal for years and it hasn't affected their business. |
| phaz0rz | 03-07-2018 10:24 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Ebayorbust
(Post 905800)
They've effectively had that requirement on EU Paypal for years and it hasn't affected their business.
|
After 2500 Euro though, right? Do you think they'd be doing so well if you had to verify every stealth identity at signup? |
| Ebayorbust | 03-07-2018 10:29 AM |
Re: PayPal TOS Update - Transfers for verified people only!
If they asked for it at sign up, I doubt it would have a significant impact on their sales.
A large proportion of payment processors require ID verification before you can do anything.
Surely you guys in the States would prefer ID verification over the SSN requirement? One is far easier to sort than the other. |
| LuckyGuy99 | 03-07-2018 11:06 AM |
Quote:
Originally Posted by phaz0rz
(Post 905801)
After 2500 Euro though, right? Do you think they'd be doing so well if you had to verify every stealth identity at signup?
| Absolutely agreed. |
| LuckyGuy99 | 03-07-2018 11:10 AM |
Please read the update carefully:
"If we have not verified your identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card."
That means even if your PP linked with a card or a bank account, PP still will ask you to verify your identity. |
| phaz0rz | 03-07-2018 11:21 AM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by Ebayorbust
(Post 905803)
Surely you guys in the States would prefer ID verification over the SSN requirement? One is far easier to sort than the other.
| Providing your SSN is part of verifying your identity with any US financial institution. If Paypal were to require identity verification before any US seller can touch payments, sellers would probably be forced to provide their SSN because social security cards are government issued ID.
The only reason this site exists is becuase Paypal has always chosen not to act as a traditional payment processor so they aren't required to be as stringent with ID verification. It's fraud to give a real merchant account provider "stealth" info but it's not with Paypal, because Paypal outsources their banking operation rather than forming their own bank.
I guess we'll see where this goes. :violin: |
| dallis | 03-07-2018 11:27 AM |
Re: PayPal TOS Update - Transfers for verified people only!
"If we have not verified your identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card."
Got to say I picked up on that too and that sounds ominous, and it's coming on April 1, less than 60 days away. |
| suspendedfoe | 03-07-2018 11:59 AM |
Re: PayPal TOS Update - Transfers for verified people only!
well this thing happened to me with about 10-20 accounts that were made in 2017..first payment would be held with a "claim it" link. your money becomes available and you either provide SSN to get the money to be in your balance or directly transferr to bank/debit.
This will not end stealth but I like to have a lot of small accounts that small balance (100 bucks or less)...so for me this would be a headache if I'm required to attach a real bank/debit just to use the money |
| donkeykong2012 | 03-07-2018 12:04 PM |
Re: PayPal TOS Update - Transfers for verified people only!
"We’re changing the balance functionality for your PayPal account depending on whether we have been able to verify identifying information that you provide to us. "
"If we have not verified your identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card."
My interpretation is the Bank Account would need to be verified via Bank Deposit before funds could be utilized. I don't think it is about providing ID. And this will apply to both new and established accounts. |
| phaz0rz | 03-07-2018 12:17 PM |
Re: PayPal TOS Update - Transfers for verified people only!
Quote:
Originally Posted by donkeykong2012
(Post 905845)
"If we have not verified your identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card."
My interpretation is the Bank Account would need to be verified via Bank Deposit before funds could be utilized.
| The way it's worded, it sounds like adding a bank account will no longer be enough to verify yourself.
It says clearly that if they haven't verified your identity you can only transfer funds to a linked card or bank. This implies additional steps will be required after adding a bank to become verified. IF Paypal will be cool with stealth users adding a bank to withdraw but not completing ID verification (so you'd have an account where you can only withdraw but never spend funds) then stealth can live on. But if they're going to start limiting everyone who adds a bank account but doesn't verify their identity, then US stealth will be done. |
| LuckyGuy99 | 03-07-2018 12:20 PM |
Quote:
Originally Posted by phaz0rz
(Post 905846)
The way it's worded, it sounds like adding a bank account will no longer be enough to verify yourself.
It says clearly that if they haven't verified your identity you can only transfer funds to a linked card or bank. This implies additional steps will be required after adding a bank to become verified.
IF Paypal will be cool with stealth users adding a bank to withdraw but not completing ID verification (so you'd have an account where you can only withdraw but never spend funds) then stealth can live on. But if they're going to start limiting everyone who adds a bank account but doesn't verify their identity, then US stealth will be done.
| Is there a risk that PP will apply this update to all PP accounts in the world? |
| donkeykong2012 | 03-07-2018 12:23 PM |
Re: PayPal TOS Update - Transfers for verified people only!
I find it hard to believe they will simply limit anyone with Paypal balances who want to spend or transfer money, who do not provide ID.
It is not in Paypal's interests. The flow of cash makes them money. This policy change impacts buyers NOT sellers.
I don't believe this is a doomsday scenario but we will see. |
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