Went through the same thing and as an international user was quite intricate. That was after reporting the email as phising, changing passwords etc. they confirmed it was required. Still, be vigilant. I never clicked on an email link etc and only worked through my Paypal account through the notification on my profile knowing I logged in securely etc. Just checked, May this year I went through this process.
Guys, its not a phishing scam. When I log into my secure account it shows the notification. I called Paypal's support number and confirmed the change. I am surprised no one else has received the notification.
I'm a Canadian and as such, I have a Canadian PayPal account. I just used it yesterday to buy stuff and I just signed into my account again from the app just now to check. I haven't seen anything indicating I need to give any more information to continue using my account. Not sure if this is something specific to US accounts or something else, but I haven't seen anything regarding "verifying my account" since I made my account.
I'm on the phone with them AGAIN. Their reps are ill informed, and some of them have a real hard time clarifying whats going on. One rep said its random. They choose random users for this super invasion of private information. I have been using paypal for a looong time and never had an issue until now.
OK. I have some information for everyone. I escalated the matter and received what I believe are some more concise answers. Apparently everyone will be receiving this notification. It is being dispersed in batches. There will be a date in which you must comply and give them said social security number (I was told the full number now as opposed to the last 4 earlier), and your date of birth. If after said date you have not complied you will no longer be able to use Paypal's services.
Glad to see several people in this thread responding as if they are in the know. Clearly, they aren't. The email was authenticated. The terms of continued use were also authenticated with several people at Paypal. Its real and its happening.
@minimize You can continue to use the account...you just won't be able to maintain a balance. You'll have to take a check, transfer the funds to a (PayPal?) debit card, or to a verified bank account.
I actually asked them JUST that specifically. I was told straight away "No, you can no longer use Paypal". I think there is a decent amount of misinformation even within Paypal's customer support and no one can give a perfect response. But it is in fact sounding like not providing a ssn and dob means they will no longer allow you to use their services. They said the account cannot be used until the details have been provided.
I suspect its not in their hands. Because of the way banking laws get changed, I suspect some law has been changed somewhere, and some time ago that is holding them accountable as though they are a bank. Because they operate internationally, they have blanket polices as well as local ones. They have been fighting against loosing ground in this for a long time, trying to add services to make it more appealing for people to keep an account, but there are so many competitors in the market that can handle local transactions in the US, and many banks around the world just handle local transfers without too much trouble, they really only have one leg left, and if international transfers get further restricted, I don't know how they will handle it. Or they could be looking at actually acting like a bank in the US which could be interesting, as that could shake up the market quite a lot if they were able to provide the right services. In short, don't be blaming paypal, I'm sure they don't actually want to be liable for that info, blame DHS which I suspect is the main driver of most banking ID laws at the moment.
From the policy update of April 2018: I highlighted the pertinent portion with bolded text - if you don't provide the information, your balance can be stored or transferred... the option of USING it in situ will be eliminated
Even the message screenshotted above, by @minimize, says it - (basic translation) - Do you like using your balance to send and spend money? Give us the information. If you don't want to, transfer your funds.
Apparently this is something taking place early next year with "new changes", according to the rep, thats why I have until February to comply. You highlighted what happens when verified. The portion you pasted (thanks for that by the way) about when not verified is more important here I guess. I asked what would happen if I were to receive funds after that comply date had I not provided my ssn. I was told I would not have access to the funds until I had in fact supplied my personal details. She said she "highly recommend that you transfer for your current balance before that date if you don't plan on giving us your social security number and date of birth" as after I won't be able to get to it.
She stated I could no longer use the paypal account to receive or send funds. Period. I am going to call again. Doesn't seem like this is a matter of I have to just send funds to my bank account, because that is what I already do.
I doubt they could get away with not giving people a way to access their money...maybe a time requirement for transfer, or something. Yes, I understand that the "if you don't" information was important... but, when people are reacting without reading/ comprehending, sometimes pointing out the difference is an easier way to get through. *edited to add - I suppose there could be a change about which I haven't been notified, and that the way you portray it is accurate....but the message you posted matches both what I have seen and the listed policy change
Can't they just get the info off the dark web like everyone else without bothering me? OP-appreciate you informing us. I will just have to see how it plays out-no message on my account yet.
