so now there is something different other than a payment just going into your PP acct ???

??

Working as normal for me this week. Could you describe further?

A few weeks ago there were a couple extra pages of stuff for me to click through that seemed like regulatory stuff, but at the end, everything was normal.

They changed something. I bought something, assuming I had a balance, BUT the amount came out of my checking account (overdrawing me) ... because I had not "accepted" the PP incoming funds.

PP may be their own bank now? And a "stranger" cannot walk into your bank and deposit funds in your account, usually.

They are now asking for all sorts of ID, which I am not down with providing to them. Now I just swing whatever balance I have into my attached bank account. I dont care for them holding my funds anyway.

yes, DL, utility bills, SS number, wth?

I have had several Paypal payments sent to me this week and I do not see any change from the way it has always been.

quote:

Originally posted by Steve Collins:
I have had several Paypal payments sent to me this week and I do not see any change from the way it has always been.

Ditto. Used it extensively for years and not seen any recent change. I'm not understanding what is being described as a problem or different?

I received a payment last week and it's in my PayPal account until I transfer it to my bank account. When I pay for something it uses my default payment method, unless otherwise specified - but it's always done that. Yes, you can tell it to use your PayPal balance, but unless you explicitly tell it to do it on that transaction it will use your default payment method - either your bank account or your specified credit/debit card.

PayPal is not your friend and they are anti-gun. I wouldn't use PayPal even if they were the only pay service on the planet.

no, it (incoming payment) always just was added to my PP balance that I could look at in the Wallet section. Then if I wanted to buy something I would just send it out of my wallet balance.

No I do not want a credit card or it added to my bank account of want cash or a check. No I do not want any of that nor do I need to provide a bunch of personal info to them.


I understand Para. I really do. It is just that so many use it if you buy or sell anything it is almost a must. If I do not get this worked out I will go back to your philosophy in this matter.

quote:

Originally posted by old rugged cross:
no, it (incoming payment) always just was added to my PP balance that I could look at in the Wallet section. Then if I wanted to buy something I would just send it out of my wallet balance.

No I do not want a credit card or it added to my bank account of want cash or a check. No I do not want any of that nor do I need to provide a bunch of personal info to them.


I understand Para. I really do. It is just that so many use it if you buy or sell anything it is almost a must. If I do not get this worked out I will go back to your philosophy in this matter.

It's the .gov, not Paypal.

https://www.doctorofcredit.com...-and-withdraw-money/

Paypal Accounts will now have a Separate ‘Cash Account’ to Send and Withdraw Money

Beginning March 29, Paypal is changing the structure of their accounts so that there is a ‘Cash Account’ for holding, sending, and receiving funds which is separate from your actual Paypal account, but linked to it. The short version is that there’s no real changes here that I see, other than – perhaps – a bit more verification needed to send, receive, and withdraw money.

As a result of a new regulation issued by the Consumer Financial Protection Bureau, you’ll need a linked ‘cash account’ to hold the money in your Paypal account. The account will be automatically linked to your Paypal account. They’ll also automatically create the Cash Account for existing users, in many cases. The change will go into effect on March 29, 2019.

You can have a Paypal account without having a Cash Account. For example, if you just want to check out online with Paypal, you don’t need a Cash Account at all. However, if you want to hold money with Paypal, you’ll need the Cash Account.

Paypal notes the following: “Before you can open a Cash Account, we must verify or have previously verified the required identifying information that you provide to us. The required identifying information is: name, physical address, date of birth and taxpayer identification.”

Currently, you can send and receive small amounts of money via Paypal without giving in your Social Security Number. At a certain threshold, they’ll stop you and request your SSN and DOB. Under the new rules, it sounds like you won’t be able to have a Cash Account at all without inputting your SSN and DOB.

Some of us have been shut down from Paypal, myself included, and try avoiding giving Paypal much personal information. Presumably, they’ll require that information going forward. I receive money via Paypal regularly from places like Ebates, Swagbucks, and the like, as well as from friends and family. Hopefully, they’ll deal with us mercifully.

[Updates: Reader Pyro points out that Paypal states: “You will still be able to receive money with a personal PayPal account and transfer it to a linked bank account or debit account, but you will not be able to hold and use a balance in your personal PayPal account.” So you only need to get the Cash Account if you want to send money or use your Paypal balance to pay online.
Also, a reader points out that it might still be possible to send funds with Paypal without verification by funding the transaction with your bank or card. Only balance-funded Send Money transactions are clearly excluded.]

There are likely other nuanced changes taking place in the new terms, but that seems to be the gist of it.

I use PayPal quite often for SMALL transactions, generally less than (usually a lot less than) one hundred dollars.

I don't use it for firearms (I rarely buy or sell guns these days) and I don't try to get around their fees by using F&F when it's someone I am buying or selling from or to.

That said, I have not noticed any difference in the way PP works since it made the change at the end of March.

Bob

I refused to give PayPal any more personal information so now I have to "accept" a payment and have it roll into a linked bank account - it's available the next business day. I can still buy things with PayPal but have to have enough in that bank account to pay for them. More importantly, I can still buy postage with PayPal's discounted postal rates.

This message has been edited. Last edited by: Blackmore,

Thanks for the info Bama.

I thought it was just more BS so they could keep it longer and draw interest.