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Re: Paypal Policy Update for March 29, 2019
 

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.

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.

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."

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.

Re: Paypal Policy Update for March 29, 2019
 

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?

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?