General > General Technical Chat

Yet another PayPal rant... this time, it's terminal

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bd139:
Paypal are technically a payment processor and they have to comply with the same standards as banks.

As does the company I work with, which isn't a bank and doesn't handle anyone's money but is in the same sector.

langwadt:

--- Quote from: nctnico on December 02, 2020, 09:50:44 am ---
--- Quote from: Halcyon on December 01, 2020, 08:55:02 am ---So, PayPal have finally restricted my account to the point where I can receive money (funnily enough), but not transfer, spend or otherwise do anything with it, unless I send them copies of personal ID (which I refuse to do).

--- End quote ---
That is your problem then. Banking rules force Paypal to have your ID on file. Paypal's customer service may suck big time but they aren't the toy money transfer website they used to be. They probably handle more money than the average national bank of a country.

--- End quote ---

officially it is to prevent terrorism and money laundry (isn't it always?) but I can see why the tinfoil types think that also
so that if the authorities for some reason decides to swing the ban hammer they can be sure to freeze all your assets 


DiTBho:

--- Quote from: Halcyon on December 02, 2020, 10:02:24 am ---but I still don't trust them.

--- End quote ---

why not? I don't understand  :-//

bd139:
It’s fair. I don’t trust them either. But they are a necessary inconvenience.

Honestly though if you knew what I know about financial services technology and what a shit show it is you’d probably sell everything, buy gold and dig yourself into a bunker. PayPal are way down the list of things that scare the shit out of me.

My favourite event was my bank writing to me to ask for a copy of my mortgage papers that they had lost. In retrospect I should have said nothing and cancelled the direct debit :popcorn:

DiTBho:

--- Quote from: bd139 on December 02, 2020, 06:55:15 pm ---It’s fair. I don’t trust them either. But they are a necessary inconvenience.

--- End quote ---

yes, but why?

My "Hype virtual card" required me to upload my ID to them.
What's different from Paypal? Seriously, I don't understand your points.

At the phone, when I asked they why they need my ID, the replied that it's an European directive to prevent money laundering.

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