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- PayPal Talk
( https://www.aspkin.com/forums/paypal-talk/)
| mzhacker | 02-22-2019 01:42 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by slokor
(Post 980573)
That is correct.
| so if i have a UK buisness paypal account and dont attach it to a bank, there is no issue.?
and even with not my bank account? |
| phaz0rz | 02-22-2019 01:53 PM |
Re: Paypal Policy Update for March 29, 2019
The update wouldn't have any implications on your non-USA account.
But you're using a UK account so you may have other problems to contend with. |
| mzhacker | 02-22-2019 01:59 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by phaz0rz
(Post 980725)
The update wouldn't have any implications on your non-USA account.
But you're using a UK account so you may have other problems to contend with.
| would you please elaborate what are the problems? |
| phaz0rz | 02-22-2019 02:37 PM |
Re: Paypal Policy Update for March 29, 2019
I don't know of any specifically other than talks of UK banks tightening security around deposits.
I was just trying to reassure you that this specific update to USA PP won't have any implications on your UK business account. |
Re: Paypal Policy Update for March 29, 2019
I love when paypal has these updates.. it kills off the less knowledgeable competition &&& MORE Money for me yay!! my sales have skyrocketed since the last Paypal update hahaha!!! |
| Leader2dark | 02-23-2019 05:35 PM |
Re: Paypal Policy Update for March 29, 2019
Anyone know what happens if I have money in my accounts but no bank added by 29th of March? Will paypal still hold my money? |
| martyjump | 02-24-2019 02:37 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by Leader2dark
(Post 980907)
Anyone know what happens if I have money in my accounts but no bank added by 29th of March? Will paypal still hold my money?
| Based on 16 years of experience with Paypal, my educated guess would be that they will hold the funds unless you add a bank. And if you've added a bank in the past and removed it and want to add a new bank account, you'll get an error and when you call in they will demand SSN to verify your identity.
Paypal 2019= Nazipal. Papers please! |
| slokor | 02-24-2019 02:56 PM |
Re: Paypal Policy Update for March 29, 2019
The way it is right now with the 'claim it' button is the same - they just hold on to the funds until you can actually do something with it - either withdraw it or verify your identity. I don't see it changing. |
| Leader2dark | 02-24-2019 04:27 PM |
Re: Paypal Policy Update for March 29, 2019
I just added bank accounts to 7 more paypals and will be confirming them Monday with deposits. No issues so far. None of the paypals even asked for phone number confirmation when adding the bank accounts. Will be interesting to see how this all turns out.
Having a bank that allows you to create unlimited sub-accounts makes things very easy. |
| gamerguy | 02-24-2019 11:25 PM |
Re: Paypal Policy Update for March 29, 2019
I have a pp debit card that I rush to the ATM to pull out cash. I don't withdraw to bank. I rarely leave $$ in my pp balance. Will this update effect me? |
| gamerguy | 02-24-2019 11:28 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by Leader2dark
(Post 981165)
I just added bank accounts to 7 more paypals and will be confirming them Monday with deposits. No issues so far. None of the paypals even asked for phone number confirmation when adding the bank accounts. Will be interesting to see how this all turns out.
Having a bank that allows you to create unlimited sub-accounts makes things very easy.
| Which bank? |
| slokor | 02-25-2019 12:00 AM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by gamerguy
(Post 981197)
I have a pp debit card that I rush to the ATM to pull out cash. I don't withdraw to bank. I rarely leave $$ in my pp balance. Will this update effect me?
| To get the PP debit card you needed to SSN verify the account - so no this update shouldn't impact you. |
| iamlmfao | 02-25-2019 06:57 PM |
Re: Paypal Policy Update for March 29, 2019
Lets face it, USA paypals are dead. Im off to Canada where the goverment isnt gaay there. |
| Leader2dark | 02-25-2019 07:19 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by gamerguy
(Post 981198)
Which bank?
| Its a local credit union. |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by iamlmfao
(Post 981399)
Lets face it, USA paypals are dead. Im off to Canada where the goverment isnt gaay there.
| Stay outta the north :FF: |
| slokor | 02-25-2019 11:40 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by iamlmfao
(Post 981399)
Lets face it, USA paypals are dead. Im off to Canada where the goverment isnt gaay there.
| If you do that Im sure youll get real familiar with the SIN request - the SSN equivalent of Canada.
Good luck with that and us know how it goes. |
| phaz0rz | 02-26-2019 07:29 AM |
Re: Paypal Policy Update for March 29, 2019
Shut up please lmfao. How do you think USA accounts got to the point they're at. |
| ivanicon | 02-26-2019 08:55 AM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by iamlmfao
(Post 981399)
Lets face it, USA paypals are dead. Im off to Canada where the goverment isnt gaay there.
| brother chill... |
| rob105100 | 02-26-2019 04:06 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by slokor
(Post 979501)
What would be the point of keeping it there in a balance that cannot be used though?
if anything id rather withdraw it immediately and in that sense its actually better than it was previously cause from now on you don't have to be concerned with waiting 180 days should the account get limited - there wont be any funds in there.
| No more 180 day holds? how? |
| thepianoman | 02-26-2019 05:08 PM |
Re: Paypal Policy Update for March 29, 2019
so basically as of this march we can't have stealth buyer paypal accounts? Unless it's in a business name in which case that's going to cost a lot if someone wants to open multiple paypal buying accounts.
So paypal is more of a bank now. Will we be able to take in many transactions from ebay and just be able to still wire to bank or is that gone as well?
So using those funds in stealth accounts to buy stuff is dead. This kinda sucks. |
| thepianoman | 02-26-2019 06:46 PM |
Re: Paypal Policy Update for March 29, 2019
Also for those people using stealth accounts to send nastmaster money for bitcoin in exchange , what are they going to do after march 29th? Stealth will be bank transfer only at that point. |
| phaz0rz | 02-27-2019 07:50 AM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by thepianoman
(Post 981638)
Also for those people using stealth accounts to send nastmaster money for bitcoin in exchange , what are they going to do after march 29th? Stealth will be bank transfer only at that point.
| I have a feeling they won't be buying BTC with PP balances anymore. |
| yankee | 02-27-2019 11:06 AM |
Re: Paypal Policy Update for March 29, 2019
This thread is almost as bad as last years LOL
So much fear and fear mongering.
There is a whole bunch of us that have already gone through this.....Unless you have a reason not to use a USA bank account, there is little or no worry. |
| yankee | 02-27-2019 11:08 AM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by iamlmfao
(Post 981399)
Lets face it, USA paypals are dead. Im off to Canada where the goverment isnt gaay there.
| Hillarious!
Canada is having as many issues as USA right now. In many ways, it is worse. The government is attacking web-sellers who have not declared income and in the process Paypal and that means paypal cracks down on users. |
| ivanicon | 02-27-2019 11:33 AM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by yankee
(Post 981822)
Hillarious!
Canada is having as many issues as USA right now. In many ways, it is worse. The government is attacking web-sellers who have not declared income and in the process Paypal and that means paypal cracks down on users.
| hmm... interesting |
| bickas85 | 02-27-2019 11:39 AM |
Re: Paypal Policy Update for March 29, 2019
This update only for USA? |
| phaz0rz | 02-27-2019 11:42 AM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by bickas85
(Post 981838)
This update only for USA?
| Yes. :cheer: |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by yankee
(Post 981822)
Hillarious!
Canada is having as many issues as USA right now. In many ways, it is worse. The government is attacking web-sellers who have not declared income and in the process Paypal and that means paypal cracks down on users.
| Correct, sadly |
| thepianoman | 02-27-2019 12:39 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by phaz0rz
(Post 981758)
I have a feeling they won't be buying BTC with PP balances anymore.
| Honestly that saddens me just for those who want that protection. It doesn't affect me but that's another big loophole that is closed down. |
| phaz0rz | 02-27-2019 12:45 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by thepianoman
(Post 981859)
Honestly that saddens me just for those who want that protection. It doesn't affect me but that's another big loophole that is closed down.
| What protection?
It's a loophole that needs to be closed, really. The shadiest of the shady sellers are using it as an obfuscation technique. Also makes it that much easier for non-US sellers to abuse US PP's and make things harder for us in the US.
:mad2: |
| thepianoman | 02-27-2019 12:56 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by phaz0rz
(Post 981861)
What protection?
It's a loophole that needs to be closed, really. The shadiest of the shady sellers are using it as an obfuscation technique. Also makes it that much easier for non-US sellers to abuse US PP's and make things harder for us in the US.
:mad2:
| I definitely see that point.
Let me just play devil's advocate
The good guys who were using that loophole won't have it while the "shadiest of the shady sellers" and non-US sellers will just be using fullz on darknet to verify and quickly move the money with whatever techniques criminals can get away with.
I personally liked having stealth buyer accounts just because it let me spend my money with paypal like a prepaid debit card. Some folks don't like the government having all eyes into their purchases ( idk maybe for bs paranoid reasons.I don't judge) You could use create many paypals easily and use them with merchants to double dip on coupons, promos, and savings. Okay maybe you think that's shady but I think some small entrepreneurs love taking advantage of grey areas. You might be thinking just get a prepaid debit card , however a vba verified paypal for spending was way more powerful and all merchants trusted it. It also offers buyer protection in disputes and by having more than one buyer account which won't be allowed with your one ssn, you can prevent a merchant from blocking you in case that is an issue in some weird circumstances.
I get it though , it was too good of thing and it got abused. It makes sense from their perspective getting rid of it. Too much of a liability and obfuscating as you said.
It's over and time to recalculate for anyone affected by it. |
| phaz0rz | 02-27-2019 01:24 PM |
Re: Paypal Policy Update for March 29, 2019
Excellent analysis. I have plenty of no bank PP's so I'll also be affected by this. I've never used them to buy BTC but for years they have been our exclusive way of buying bubble mailers, tape, labels, gifts, things for around the house, etc. It's really going to suck suddenly having 10+ accounts where it's not even worth trying to sell on them anymore. I'll have to cancel about half of my VPN subscriptions over the next year. :/
I hate that Paypal is having to do this and I'd like to think their hand is being forced, but I understand why they're doing it either way. |
| thepianoman | 02-27-2019 07:54 PM |
Re: Paypal Policy Update for March 29, 2019
I'm not trying to fear monger but I wonder if regulations similar to the one paypal said is the reason for this change, will soon result in ending up making prepaid avs debit cards , tax id required by law.
I know that prepaid avs debit cards don't even compare to the power non ssn paypal accounts had for purchases. They even offered buyer protection not to mention the huge amounts of scams and evasion possible with them compared to just prepaid cards.
It seems to me they want to stop all ways of using digital payments without proof of US tax id , to prevent all kinds of scams or money laundering.
Btw, does anyone know what new regulation paypal is referring to that passed in Washington DC that resulted in this change?
"As a result of a new regulation issued by the Consumer Financial Protection Bureau in Washington, D.C. coming into effect on April 1, 2019, we are making some changes that will affect consumers who want to hold and use balance with PayPal." |
| Leader2dark | 02-27-2019 08:48 PM |
Re: Paypal Policy Update for March 29, 2019
Well at this point we are one step away from PayPal just straight up requiring SSN to receive money. I would guess within 5 years that will be the case. |
| ithelps | 02-28-2019 02:29 PM |
Re: Paypal Policy Update for March 29, 2019
Quote:
Originally Posted by slokor
(Post 979630)
Also, note that once you open a bank account with most banks you will be able to open sub accounts (savings accounts is usually what I go for) under that banking profile. Opening those accounts will NOT pull a credit check when its done. Only the initial bank opening will do that.
Regardless though when I open accounts with a new bank I open one checking and 4 savings - one for me one for the 'wife'/'girlfriend' and two for the 'kids'/'nephews'. Never had any questions asked.
| Do you know if you can pay using the sub accounts? I think the sub accounts are meant for savings not spending right? So only receive but cant use to pay? |
| BarryTheBaptist | 05-18-2019 05:38 AM |
Re: Paypal Policy Update for March 29, 2019
So, if I understood this right, you now have to add real name, address, DOB and last 4 digits of SSN so than you can continue to spend and receive PayPal balance like before with this "PayPal Cash" thing? Can someone confirm if this is correct? |
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