RIP Paypal

roseczech

roseczech

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We’re changing the balance functionality for your PayPal account depending on whether we have been able to verify identifying information that you provide to us.
  • If we have not verified your identifying information, a balance in your PayPal account can generally only be held in your PayPal account and transferred to a linked bank account or debit card.
  • If we have verified your identifying information, a balance in your PayPal account can be held in your PayPal account, transferred to a linked bank account or debit card, used to make purchases or send money to others.
  • We’re removing the variable rate pricing for sending money to friends and family members who have PayPal accounts in a country other than the United States when you send money using PayPal balance or your bank account and introducing a new flat fee of $2.99 or $4.99 per transaction depending on the recipient’s country. However, when you send money using your credit card, debit card, or PayPal credit you will be charged the new flat fee per transaction depending on the recipient’s country + 2.9% of the transaction amount + a fixed fee based on the currency.
Our updated Privacy Policy will be effective on April 19, 2018

No more stealth accounts, no more unverified accounts, no more PayPal balance. Basically, you're limited to one account, and one account only.
Tomorrow will be a sad day, I can hope there will be bypasses.
If not, this is the end.


Credits: from other forum

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*What can you say about this? Specially for those who are using stealth account.
 
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There are lot of people who have more than one PayPal accounts. Its not necessary you must have only one account in paypal.
But, its true one Bank Account per PayPal. If you have 5 bank accounts you can create 5 different PayPal.
Its not an issue. But there are some other things to take care of.
 
With an unverified account you couldn't do too many things anyway, sooner than later you needed to verify it, if you wanted to actually use it. If they don't change the verification process, this isn't the end of anything.

The charge for the FnF payments sucks though.
 
I guess I dont see any problems there though.. I'm from ph and if money comes to my pp i can instantly withdraw it..no charge..#gcash
 
I can imagine less frauds after this is implemented worldwide.

Paypal india has almost zero frauds due to its restrictions.
 
Paranoid Android said:
Thats how its been in India since 2010, they are just adopting the system that the Reserve Bank of India laid out for them, which seems to have worked for them since 2010. One account per person, no unverified accounts, no paypal balance.
Click to expand...

Yes, its also only because of RBI, our economy did not collapse in 2008, or else we would be another Greece just on a much larger scale.

RBI can be too strict and a pain in the ass for many businesses, but they have saved our ass many times too.
 
direct transfers to banks have existed for a while nothing new there
 
bencapricorn said:
Yes, its also only because of RBI, our economy did not collapse in 2008, or else we would be another Greece just on a much larger scale.

RBI can be too strict and a pain in the ass for many businesses, but they have saved our ass many times too.
Click to expand...
Exactly, and not a single depositor lost his money when the Global Trust Bank bankruptcy was filed. It happens only in India. Americans have a lot to learn from us. But yeah, certain RBI policies don't let our economy grow as much as the Americans.
 
Are you saying they are getting rid of Paypal balances and that all transactions are going straight to a bank account?

The FnF transaction fee is annoying as I transfer funds from one account to the other at the end of the month before withdrawing to bank account but compared to my other costs it is fairly low. If that is the only change then fair enough but if they get rid of Paypal balance that would mean they don't have control of the countless millions in PayPal's system across all of their current users. I can't imagine they would be getting rid of that, would they?
 
hey,
i think this could be good fraud protection to get rid of every unverified account. but i cant imagine that they get rid of their balance function. thats huge sums of money layin at the bank in favor for pay pal.
 
roseczech said:
No more stealth accounts, no more unverified accounts, no more PayPal balance. Basically, you're limited to one account, and one account only.
Tomorrow will be a sad day, I can hope there will be bypasses.
If not, this is the end.
Click to expand...

1) Stealth accounts are downright illegal in EU and USA
2) PP balance is fine, no changes.
3) You can open a LLC or other company and open accounts for them legally.
 
I've gone through that also 2 years ago. Now I already have 2 verified paypal accounts :)
 
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