So now PayPal requires additional (ssn or itin) info to "claim" your own funds or those funds will be held in limbo?! Wtf
Can you cite where you saw this?? I just scanned through the User Agreement and only saw them as options, not requirements. I hope I didn't miss it.
Holding a PayPal Balance
Money that you receive from other PayPal account holders is held as a balance in your PayPal account. The balance functionality in your PayPal account will differ depending on whether we have been able to verify the required identifying information that you provide to us.
The required identifying information is: name, physical address, date of birth and taxpayer identification number.
If we have not verified the required identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card. In certain instances, even if we haven’t verified the required identifying information that you provide to us, your balance may also be used to fund payments or money owed to PayPal, such as payments on your PayPal Credit account or your PayPal Working Capital account, or monies owed for refunds or chargebacks.
If we have verified the required identifying information, a balance can be held in your PayPal account, transferred to a linked bank account or debit card, used to make purchases or send money to others. This functionality requires that you provide the required identifying information to us and that we are able to verify the accuracy of that information.
Withdrawing money
If you have a PayPal balance, you may withdraw it by:
Transferring it to a bank account linked to your PayPal account,
Transferring it to an eligible debit card linked to your PayPal account, subject to the fees applicable to such transfers that can be found on the Fees for Transferring Balance (for personal accounts) page and the Fees for Transferring Balance (for business accounts) page and that will be disclosed to you in advance each time you initiate such a withdrawal,
If we have verified the required identifying information you provided to us, withdrawing it from an ATM (automated teller machine) using your PayPal-branded debit card (fees may apply), or
If we have verified the required identifying information you provided to us, requesting a check from us (subject to a non-refundable fee of $1.50, which will be deducted from the amount of the withdrawal).
We may delay a withdrawal, in certain situations, including if we need to confirm that the withdrawal has been authorized by you or if other payments to your PayPal account have been reversed (for example, as a result of a chargeback, bank reversal or dispute by a buyer). Additionally, if we place a limitation on your PayPal account while a withdrawal from your PayPal account is pending, you will have to reinitiate the withdrawal once the limitation has been lifted.
We may set limits on your withdrawals, and you can view your withdrawal limit, if any, by logging into your PayPal account.
Completing two out of three of the following steps can help us verify your PayPal account, which may allow us to remove any withdrawal cap:
- Verifying your bank account.
- Linking and confirming your credit or debit card information.
- Providing your social security number.