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Paypal's new policies

Discussion in 'Community Center' started by minimize, Nov 8, 2018.

  1. minimize

    minimize

    Nov 12, 2007
    I doubt they could get away with it too. If anything, I would prefer a forced closing of my account as opposed to locking me out of the funds.

    Good point.

    Every rep I spoke to seems to think they are the authority on this, but there is some slight conflicting information so.. I'm just the messenger. I hope you are correct, that its about having to transfer funds to my bank account and not using it for future purchases. It is how I took it prior to speaking to them about it. I gave the rep the example of receiving $100 post the cut off date, and me not having complied. Me "I can just then transfer the funds to my bank account and carry on, correct?" She simply said 'No. You can no longer use Paypal if you don't provide the information we requested because the inability to identify you are in fact the one using your account. Its a safety concern so you can't use the account until we verify the information we asked for'.

    The idea that I can receive funds and just send to my bank account.. fine. But all reps were clear in that I could not make any future purchases using Paypal regardless of where the funds came from (credit card, bank account, balance, etc). So in essence, even if what you said was correct, my Paypal account would be receiving only.

    I am going to try calling again tomorrow, and basically play it off as what you said is gospel (can use the account, but have to transfer funds to my bank account), and see how that goes.
     
  2. rje58

    rje58 Gold Member Gold Member

    Dec 21, 2013
    PayPal has been doing some really screwy crap lately... It's like they are trying to put themselves out of business...
     
    Boxer .45 likes this.
  3. Pomsbz

    Pomsbz

    Jul 31, 2015
    I'm confused. If you want to keep funds in an account why is that any different than a bank which would take these details as a matter of course?
     
    thebrain likes this.
  4. thebrain

    thebrain Gold Member Gold Member

    Dec 12, 2007
    It is only about tracking funds, they need to verify income as part of a government push to prevent people from hiding income from the IRS ect. I believe it has to do with a (probably bogus) claim by certain people in the government that terrorists use PayPal to move funds. And other (regular people) making money that isn't being reported as income like Etsy/eBay sellers and the like.
     
    Durham68 and JB in SC like this.
  5. annr

    annr Basic Member Basic Member

    Nov 15, 2006
    This is what I was thinking.
    If I got a 1099 (or their equivalent) from them last year, would that mean they already have all my required personal information?
     
  6. r8shell

    r8shell Platinum Member Platinum Member

    Jan 16, 2010
    If your paypal account is linked to a bank account, don't they already know your ssn? Don't you have to provide one to open a bank account?

    OP, you can't blame folks for being suspicious. I used to get phishing emails like that years before I even had a paypal account. :eek:
     
    Prester John likes this.
  7. JB in SC

    JB in SC Gold Member Gold Member

    May 19, 2001
    When linking a bank account PP normally asks for a SS# associated with that account. It's just that in most cases PP doesn't ask for personal information in an email. Too many folks click a link without knowing if it's real or not.
     
  8. JB in SC

    JB in SC Gold Member Gold Member

    May 19, 2001
    Yes ma'am
     
    annr likes this.
  9. annr

    annr Basic Member Basic Member

    Nov 15, 2006
    Thanks!
    Nothing worse than a 1099 has happened to me.

    So, it sounds like they are probably trying to be compliant with other laws/ regulations re: taxation, reporting, (and more)—as mentioned by a previous poster.

    (I’m actually surprised they are this slow getting everyone’s credentials, if any of these notifications are authentic.)
     
  10. JB in SC

    JB in SC Gold Member Gold Member

    May 19, 2001
    I may be wrong, but I recall having to verify my SS# several years ago.
     
  11. annr

    annr Basic Member Basic Member

    Nov 15, 2006
    This is my recollection/perception as well—and it's been a number of years.

    So without more details on individuals’ PayPal use and setup, it’s not easy to guess why any particular person sees one thing and another something else.

    Could also vary by state as a few states want 1099s at the $600 threshold.
     
    JB in SC likes this.
  12. Peter Hartwig

    Peter Hartwig Gold Member Gold Member

    Feb 29, 2008
    I just checked my profile settings and they already have my SS#. I didn't see a birthdate, but that may be behind the scenes .
    This all may pertain to certain type accounts-don't know
     
  13. cdf293

    cdf293 Gold Member Gold Member

    103
    Oct 27, 2016
    To add even more to the confusion, I just checked my account profile and they don't appear to have my SSN since I see an option to add it. I also have a verified account with a linked bank account. My account has been open 18 years so who knows what is going on at this point.
     
  14. minimize

    minimize

    Nov 12, 2007
    Be suspicious. I guess paypal is in on the scam, when I call them.. many many times.
     
  15. minimize

    minimize

    Nov 12, 2007
    Curious how people feel about giving Paypal their social. Seems like some already have and don't mind it.
     
  16. Peter Hartwig

    Peter Hartwig Gold Member Gold Member

    Feb 29, 2008
    They must have asked for it when I opened my account. I certainly didn't offer it.
    I have no real problem with them having it as long as they don't loose it to some hacker. They are at least in a field that it makes sense to ask for it, due to tax possibilities from transactions.
     
  17. DrRollinstein

    DrRollinstein Gold Member Gold Member

    884
    Feb 20, 2018
    I mean, a SSN is required for something as simple as a fishing license. So I really dont see much of an issue. Lots of things require it.
     
  18. jill jackson

    jill jackson

    Sep 5, 2006
    "It is illegal not to report your income to the Internal Revenue Service. Any income, even money from selling items on eBay, could be subject to taxes. Certain factors will help you determine how much tax you owe, if any, and which rate you have to pay. Even if you don't claim the income when you file your annual taxes, eBay will submit a Form 1099, reporting your income to the IRS."

    The problem I have with that is, if I sell a few knives on ebay I already had to purchase the knives and in many cases I am losing money on the transactions even more so counting all the fees that ebay and paypal charge.
     
  19. minimize

    minimize

    Nov 12, 2007
    Appreciate the feedback, guys. It just strikes me as "off" that I have had my account for a long time with zero issues and now they demand it. And according to recent calls, without it you cannot use their services at all and not what we discussed about being able to use it, but having to transfer to a bank account.
     
    Boxer .45 likes this.
  20. Mo2

    Mo2

    Apr 8, 2016
    Found this a bit ago. Apparently they are banning some accounts for some of this.

    I assume but do not know this relates to auto's or other knives that brakes laws in your state? No idea but be careful about what you put in the description.

    [​IMG]
     

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