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Are this new paypal policy what i think?
 

Hello guys i just receive an email today from PP,About new changes in their policies in early next month,and in the way i understand (hope i am wrong) we have to update our information with our SS# And Tax ID?,Here is the email,idon't know if this is only to US Or everywhere :doh:

PayPal
Dear Barack Obama,
In an effort to keep our customers informed of changes which may impact their normal anticipated experience, we wanted to take this opportunity to share with you some changes that you can expect beginning in April 2012.

In July 2011, the Bank Secrecy Act was amended. In summary, money service businesses (such as PayPal) will be required to verify customers’ personal information prior to providing certain services or customer elected product offerings.

=====================
What changes can I expect?
=====================

For some specific products or balance funding options, PayPal may ask you to ensure your full legal name, address, date of birth, and the last four digits of your social security number are accurate. If your information is already on file with us, you may be asked to re-verify this information. If we do not have your information, you may be asked to provide or update this information before we can process your request for a particular product or balance funding action. We may refund monies to your funding source in the event that more information is needed.

PayPal will only ask you for this information if you are logged into your account. If further information is needed, PayPal will contact and direct you to resolve any concerns via our secured Resolution Center beginning in early April 2012.

=========================================
What can I do to help ensure my information is updated?
=========================================

The next time you log into your PayPal account, please ensure your full name, address, and tax ID information are accurate.

If you need to make an update, you can complete the process by following these instructions:

1. Log in to your PayPal account.
2. Click "Profile" near the top of the page.
3. Click "Update" or “Change” beside the Name, Address, or Tax ID Number field(s).

We appreciate your business and look forward to our continued partnership.

PayPal



© 2012 PayPal Inc. All rights reserved. PayPal is located at 2211 N. First St., San Jose, CA 95131.

barak obama? you seriously made a stealth account with the name of the president?

So we just have to wait and see...Who knows what pp say. They are always so vague( intentionally).

I think this new changes is for specific products, but who knows.

I guess it's only in the US, since other countries don't have SS#.

But please tell me you didn't make an account with Barack Obama's name, because that could be considered identity theft of the US President and some pretty nasty charges. eBay and PayPal might be the least of your worries for the next 90,000 years.

LOL Of course i did not make an account under the presidents name,i just change my name :)

US sellers please give your idea.

So if what i think is right..well.,i think more than 80% of the stealth accounts will be going to hell so we have to test some methods to bypass those requirements,i maybe burn my accounts in the try's.

it sounds like its only to fund accounts....atleast thats what i get from it.

In any case, with PP requiring more ID processing this is NOT a positive development. In the end this new policy could end up being a huge roadblock to future stealth players. I think its only a matter of time (few weeks?) before it really gets the boards attention.

I don't think so since this is not Paypal policies, this is the amended Bank Secrecy Act.

Sure, but whatever pieces of legislation the govt passes has a direct effect on paypal policy. Such is the case here. Funding is a thing of the past. Only need clarification on "specific products".

Only time will tell. Im about to make 40 accounts soon.

"PayPal may ask you to ensure your full legal name, address, date of birth, and the last four digits of your social security number are accurate"

Don't think this is going to change much, been this way for years now. Pp will lose money if they ask every single seller to provide #ssn not only the stealth ones either.

I also believe the number of stealth users out there are far more then what people actually think. We are not insignificant enough to just cast aside, eb and pp would lose a chunk of change without it's stealth users.

Do all of you here receive this email from Paypal?
I, myself, don't receive any single email from PP, and my friend received only one email among 3 of his accounts.

I did not receive any emails too

I think you received that email cause of your Name:)Abama:)

I recieved the e-mail as well as my dad and a few friends. Its getting out there slowly.

I haven't received it. Looks like many didn't either and it's almost the end of March. pp is frowning upon this Act it looks. If it was to their advantage, they would have acted much quickly.

Paypal is not a bank, which is why they can screw their customers with impunity. The do not have to follow any Bank Secrecy Laws if they did not want to. They do have to adhere to money laundering regulation being a US company.

Actually, the Bank Secrecy Act was updated and now includes "money transfer businesses" which includes PayPal.

I received this email several weeks ago.

I looked through all my accounts and nothing. The only way around this is to make real companies with a EIN number.

The only thing i noticed was this on paypal


Amendment to the PayPal User Agreement

Effective Date: April 1, 2012

Section 2.3 of the User Agreement (Identity Authentication) is being amended because we are making changes to our customer identification program as a result of changes in the law. Section 2.3 will now read:

2.3 Identity Authentication. You authorize PayPal, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide your date of birth, a taxpayer identification number and other information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your Information against third party databases or through other sources. We may also ask to see your driver’s license or other identifying documents at any time. If you use certain PayPal Services federal law requires that PayPal verify some of your Information. PayPal reserves the right to close, suspend, or limit access to your Account and/or the PayPal Services in the event we are unable to obtain or verify this Information.

Section 4.12 of the User Agreement (Micropayments for Digital Goods) is being updated to increase the maximum amount received in Taiwan New Dollars (TWD) that may be subject to a reversal without requiring a Dispute escalation from 10.00 TWD to 249.00 TWD.


Amendment to the PayPal Privacy Policy

Effective Date: April 1, 2012

We have made amendments to the PayPal Privacy Policy to reflect the way PayPal collects, stores and processes your personal information. A few of the changes to the Privacy Policy are highlighted below, however, we recommend you review the updated Policy in its entirety. The amended Privacy Policy is effective April 1, 2012 for existing users and effective upon acceptance for new users.

How we collect information about you. We have amended this section to address how PayPal collects data from your computer, mobile phone or other access device. We may also collect information about your use and interaction with our website, application or the PayPal Services.

How we use cookies. We have amended this section to reflect our use of session and persistent cookies, Local Shared Objects (commonly referred to as “Flash Cookies”) and the use of pixel tags. The help section of most browsers or browser add-ons provides instruction on blocking, deleting or disabling cookies.

Marketing. We have amended this section to address opting-out of notifications via our application and SMS messages.

How you can access or change your personal information. We have amended this section to include information regarding our account closure process.

How you can contact us about privacy questions. We have amended our disclosure of PayPal’s recognition as a TRUSTe Privacy Seal holder to comply with TRUSTe’s Website Privacy Certification program requirements.

I think the issue with "balance funding options" is that you will now require a SSN to use the moneypak to fund paypal.

http://www.aspkin.com/forums/subscri...pak-alert.html

March is almost over so I think any account not yet receiving that email will not receive that email.
I want to believe that any account with low revenue since Jan 2012 (several thousands) will not be required and I hope that is true.

what about this,i got it and will be effective from today :spy:

•Amendment to the PayPal User Agreement
Effective Date: April 1, 2012

•Section 2.3 of the User Agreement (Identity Authentication) is being amended because we are making changes to our customer identification program as a result of changes in the law. Section 2.3 will now read:
2.3 Identity Authentication. You authorize PayPal, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide your date of birth, a taxpayer identification number and other information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your Information against third party databases or through other sources. We may also ask to see your driver’s license or other identifying documents at any time. If you use certain PayPal Services federal law requires that PayPal verify some of your Information. PayPal reserves the right to close, suspend, or limit access to your Account and/or the PayPal Services in the event we are unable to obtain or verify this Information.


•Section 4.12 of the User Agreement (Micropayments for Digital Goods) is being updated to increase the maximum amount received in Taiwan New Dollars (TWD) that may be subject to a reversal without requiring a Dispute escalation from 10.00 TWD to 249.00 TWD.



•Amendment to the PayPal Privacy Policy
Effective Date: April 1, 2012

We have made amendments to the PayPal Privacy Policy to reflect the way PayPal collects, stores and processes your personal information. A few of the changes to the Privacy Policy are highlighted below, however, we recommend you review the updated Policy in its entirety. The amended Privacy Policy is effective April 1, 2012 for existing users and effective upon acceptance for new users.


How we collect information about you. We have amended this section to address how PayPal collects data from your computer, mobile phone or other access device. We may also collect information about your use and interaction with our website, application or the PayPal Services.

How we use cookies. We have amended this section to reflect our use of session and persistent cookies, Local Shared Objects (commonly referred to as “Flash Cookies”) and the use of pixel tags. The help section of most browsers or browser add-ons provides instruction on blocking, deleting or disabling cookies.

Marketing. We have amended this section to address opting-out of notifications via our application and SMS messages.

How you can access or change your personal information. We have amended this section to include information regarding our account closure process.

How you can contact us about privacy questions. We have amended our disclosure of PayPal’s recognition as a TRUSTe Privacy Seal holder to comply with TRUSTe’s Website Privacy Certification program requirements.

Amendment to the PayPal User Agreement
Effective Date: Mar 06, 2012

It seems that not everyone receives this message.
I guess it depends on the total sales.
My accounts have around 5k and none of them is required documents.
One of my friends have 2 accounts, one having 8k is required but the other one with 4k is not required.
How about you guys?

man i am goin to have to go ask homeless people for there info, it SUCKS! :spy:

I really don't know what to think of this other than try to spread sales over the year on a stealth account and stop a few "k" short of 20k threshold for the IRS reporting so you don't have the accounts limited asking for information.

It is. Only PATRIOT Act and that banking Act have effects in the United States, making it illegal for them to collect SSN or equivalent illegal. This announcement is only found under the US paypal policy change log.

As much as I agree with you politically about all the nonsense that has been passed here in America taking away our liberties and personal freedom. We are all well aware of the laws here especially if we are on this forum. Just simply stating it doesn't really add anything to the conversation.

I got the message from PayPal on one of my accounts saying that I have to provide SSn or ID Tax number if:
My sales will be greater than $20,000 in a calendar year, and
Number of sales transactions exceed 200.

I think I have made more than 200 transactions this year, but only about 3k in sales. I have a "yellow" line on my PayPal account asking to provide Tax ID number, but account is not limited or anything.

So, basically if we stay below 20k in a calendar year, providing SSN or Tax ID can be avoided?

I am in the same boat - over the 200 sales but well under the $20k limit. Wondering how long my account can survive with the "yellow" line present before they limit it??

mines are normally opposite exceed 20k and under 200 transactions

I have had that for nearly a year. Just don't run up your limits too early in the year to make it look like you are going to go over the threshold and will likely leave you alone. You will still probably get reminders when you log in and an email reminding you to update add the Tax ID from time to time.

I haven't received any of these emails, but I tend to spread my money around on various accounts.

The only messages I got, was to agree to the new Mastercard ( something ) to keep accepting mastercard payments. I had to agree to about 5-6 of them.

Guess that account will go bankrupt just like our country.

Spending more then you take in wont work-------------

The account name was Obama not bush lol

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I know

5 trillion in 3 1/2 years with a stimulus or 7 trillion in 8 years without a stimulus.
Which do you prefer?