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  #1  
Old 03-02-2019
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Default 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?
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Default 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.
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Old 03-02-2019
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Default Re: Just realized something on Business Accounts

it is too late now
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Default Re: Just realized something on Business Accounts

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Originally Posted by agent006140 View Post
it is too late now
So these accounts are toast after the update?
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Default 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?
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Default Re: Just realized something on Business Accounts

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Originally Posted by Bigcheeze45 View Post
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?
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.
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Default 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.
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Default Re: Just realized something on Business Accounts

Sorry but..what's the TOS policy update entails? I've never heard of it
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Default Re: Just realized something on Business Accounts

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Originally Posted by Bigcheeze45 View Post
Sorry but..what's the TOS policy update entails? I've never heard of it
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.
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Default Re: Just realized something on Business Accounts

Oops sorry. You mean the claim it now
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Default 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.
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Default Re: Just realized something on Business Accounts

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Originally Posted by Bigcheeze45 View Post
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.
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.
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Default 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
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Default Re: Just realized something on Business Accounts

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Originally Posted by SaiJin View Post
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
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.
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Default 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?
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Default Re: Just realized something on Business Accounts

Quote:
Originally Posted by martyjump View Post
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.
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
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  #17  
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Default Re: Just realized something on Business Accounts

Quote:
Originally Posted by agent006140 View Post
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?
Ive never hit the 200/20k mark. I spread sales out over accounts.
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Old 03-05-2019
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Default 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!
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