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Just realized something on Business Accounts
 

When I transitioned my personal accounts to business accounts a long time ago before the update- it asked for DOB and Last 4 of SSN. Wouldn't let me move forward without providing that info.

So I provided phake info back then.

Now with this new policy update, will they try to confirm that info and when they can't confirm it I'm assuming these accounts will be toast?

Re: Just realized something on Business Accounts
 

On business accounts that already have claim it- I can't spend the balance.

On ones that don't- I've been spending balance/making withdrawals to bank accounts for years.

Just wondering if on March 18th they're going to do a mass verification on all accounts with existing info and then limit them all or something.

Re: Just realized something on Business Accounts
 

it is too late now

Re: Just realized something on Business Accounts
 

So these accounts are toast after the update?

Re: Just realized something on Business Accounts
 

Just curious because I didn't hear anything about this update. What's involved with this update? I'm about to upgrade myself to business with LLC . Did you use just an EIN?

Re: Just realized something on Business Accounts
 

No didnt use EIN. When I made the transition from personal account to business they require the last 4 of SSN and DOB of individual on account. I tried to get around this at the time but there was no way around it and I wanted bank deposits to show under a business name instead of having all these mismatched names.

I haven't noticed any changes so far. Paypal has had years to confirm this info and find out it's phake. None of these accounts have ever been limited in any way. I'm just afraid they're going to do a mass verification on accounts with info already on them... even though some of these accounts still received the confirm your info email.

Re: Just realized something on Business Accounts
 

And the update I'm referring to is confirm your info March 29th TOS update. I don't care about spending the balance- I'm just curious if they're going to start verifying info already entered when the new TOS/policy goes into effect. I have bank accounts linked on all the accounts that I'm concerned about.

Re: Just realized something on Business Accounts
 

Sorry but..what's the TOS policy update entails? I've never heard of it

Re: Just realized something on Business Accounts
 

Basically you won't be able to use your Paypal balance anymore for purchases without confirming your identity (DOB and SSN) You will only be able to withdraw funds to a bank account or debit card.

If you browse around the Paypal forum on here you will see that this has pretty much been the only thing being discussed lately. I've read all the threads but my particular situation is still unclear how it will affect me. I'm just wondering if my accounts are toast once it goes into effect.

Re: Just realized something on Business Accounts
 

Oops sorry. You mean the claim it now

Re: Just realized something on Business Accounts
 

Lol my response went through before I saw yours. My bad . Yeah ,I dont know what to make of that claim it now bs. I transfer to bank anyway but I can see where itd be a problem for a lot of people.

Re: Just realized something on Business Accounts
 

Over on the Paypal community forums I have seen it asking people who have already submitted legit SSN and DOB to confirm/enter it again. So I'm hoping that my accounts have some hope. Paypal has had this info on my accounts for years and nothing has happened yet but that doesn't mean the new update won't change that. Hoping somebody here has some insight into this situation.

Re: Just realized something on Business Accounts
 

If nothing has changed, it probably won't for a while at least.

Worse case, you probably have to resubmit the info, but I think that's unlikely

Re: Just realized something on Business Accounts
 

Hope this is the case. I guess I can always start over or wait for Ayden worst case scenario... although I'm not sure how much better Ayden will be.

Re: Just realized something on Business Accounts
 

do you sell and use PAYPAL to accept payments?
if the SS number is ⊗⊗⊗⊗,how do they send 1099 when you exceed 200 transactions AND $20K?

Re: Just realized something on Business Accounts
 

hello sorry to ask
if my buisness paypa is not attached to my bank account and just SSN-DOB verified can i use the balance to retransfer to other paypal accounts or it still not possible and needs bank account to be attached

appreciate it

Re: Just realized something on Business Accounts
 

Ive never hit the 200/20k mark. I spread sales out over accounts.

Re: Just realized something on Business Accounts
 

When I tried to call PP on one of my claim it business accounts that already had last 4 SSN and DOB to get them to add a bank (wont let me add bank on website) they said they couldn't verify identity and the system was blocking me out from adding a bank... and try to call again in 24-48 hours (yeah... thats going to help)

This seemed odd because other people I've talked to in this same situation have said that they ask for the last 4 of SSN and DOB (which they already have) or try to verify identity by generating public record questions. All they could tell me was try again later.

I said ok... so I can't spend balance... I can't add a bank account... so is this how Paypal is operating from now on? Their response was oh no, it's not like that at all.

Well, no, it kinda is!