General > General Technical Chat
Yet another PayPal rant... this time, it's terminal
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Halcyon:
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). They are not my bank and I don't trust them. The fact that I have verified my bank account and mobile number should be enough for them, but it seems this is not the case any longer. Thankfully I have a $0 balance so it's not really going to impact me too much.

So after 12+ years of using PayPal this way, I'm cutting my ties, along with anything that mandates PayPal. My bank account which was linked to my account will be closed (it was set up specifically for PayPal).

Now I can't blame them solely. I suspect some regulatory requirements have forced their hand a little bit, but their implementation just sucks. For example, Government services exist where stores/service providers can verify ID of their customers without requesting or storing copies of the personal documents. Those systems usually tie into the relevant road transport authority system which gives the third-party provider a pass/no pass result. The only people who get your personal information is the government, to check against their databases.

What sucks though, is PayPal won't let you properly close your account either, without verifying your ID. So if you have your current primary bank account linked, they still have on-going access to it.

This practice of holding people's money hostage, not allowing them to unlink accounts or close accounts is unconscionable conduct in my opinion.
bd139:
I never linked my paypal to a bank account. Dangerous proposition that as they set up a DD against it. If you want to fund a paypal account the best thing to do is set up another mule account which can be same name with same address and card and send to the original account using friends and family internal payment.

As for ID verification, this is going to be a big thing coming up. The global financial compliance authorities are trying to crack down on people using PP as shell accounts and a black economy.

The funny thing? Paypal wouldn't even exist if banks had got their shit together 20 years ago.
tggzzz:
I recently had my PP account restricted until after they had verified who I am via a linked credit card account. They debited my CC and I had to tell them the transaction ID before the PP account could be debited.

Like bd, I wouldn't give them a bank account details.

40 years ago I watched a secretary have her bank account drained by an unauthorised debit. The bank acknowledged it was unauthorised, refunded the money, but couldn't prevent it happening three more times! The bank could not determine the source of the debit. Eventually they found it was a scrotty little merchant bank that had mis-entered information.

Bd, was your "another mule account" a PP account (i.e. a different PP "login" name) with the same card and address?
tszaboo:

--- Quote from: Halcyon on December 01, 2020, 08:55:02 am ---Now I can't blame them solely. I suspect some regulatory requirements have forced their hand a little bit, but their implementation just sucks. For example, Government services exist where stores/service providers can verify ID of their customers without requesting or storing copies of the personal documents.

--- End quote ---
It's the tax office. Let's say your paypal is not linked to you, only to your email. The money you recieve on it is not taxed, could be income. The income tax could have brackets. You can also park there money, that could be also subject to taxation.
For example in the EU, you need to register now all bank accounts, because they are (supposedly) fighting terrorism.
There was a whole shitstorm last year, where every fintech company was required to register IDs and people were losing their access to their money.
bd139:

--- Quote from: tggzzz on December 01, 2020, 10:34:54 am ---Bd, was your "another mule account" a PP account (i.e. a different PP "login" name) with the same card and address?

--- End quote ---

Different email address, different card, same name, same address. I opened up an additional Santander online basic account for it as they issue another card.
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