 Paypal requires ssn - new policy
Has anyone got this email? One of my friend told me that he JUST got this email from PP today.
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Dear xxx
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.
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.
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