Submitting business info to Paypal

Ive just hit the 2.5k income limit on a paypal a/c and now its asking for business info

What checks do they perform?

I dont have a registered business and i dont pay tax so what will happen if i submit made up info?

Anyone any experience with this?

I have had a PP account for years and they pay me to my real name by transfer to my personal bank account I have not got a business registered with PP have a look further into what they are asking for maybe they have a button to add your personal data which I am sure they have but do not know where it is have a look around for this option

If you do not find email PP support and ask for advice!

They say due to EU money laundering laws and regulations people have to confirm there accounts after receiving 2.5k

I also have to send id and proof of address.

Is your business paying Tax? Will they somehow contact the government to confirm anything?

Interesting, I never heard of PayPal asking for business info and spend and receive a lot more than that per week because I pay all of our VA's via paypal. If I were you I would call PayPal. Dude, pay your taxes. Not doing so can really limit what you can do or buy not to mention loss of freedom. I don't think you will have much internet access in jail.
Thanks,
Philgood

Yep with a business account they will ask you from time to time to send in information to make sure you are on the up and up. Every time they have asked me it has been a request for different information. This could be something they are doing to try and find the ones that are fake accounts. You might pass the first few times but somewhere along the lines your going to slip up and then you will have heck to Pay. I know a few people that have been taken to court over doing this type of things.

So i would set up a real company you can do it as a dba. I would rather pay taxes then sit in jail not making any money.

Your all from the USA where i assume its different. These regulations are down to the EU. Its not major tax avoidance or anything.

What were your friends brought to court for exactly? Even if i did pay taxes on it it wouldnt be taxable as its so little

2.5k in 2 years through this paypal a/c. I usually use moneybookers where they dont ask for all this

How would paypal know that i wasnt paying my taxes? Why would it be there responsibility anyway?

Its a real name, real a/c nothing fraudulent. If i sold something for over 2.5 k on ebay i would end up in the same situation but i shouldnt have to own a business to sell something on ebay for 2.5. That could easily be done by selling a cheap car

When i go to submit the info it also asks for business info

Heres what they say


PayPal is constantly working to ensure security by regularly screening the accounts in our system. We recently reviewed your account, and we need more information to help us provide you with secure service. We would like to return your account to regular standing as soon as possible. We apologize for the inconvenience.

Sep 27, 2010: We're required to confirm your identity and your address once your PayPal account receives 2,500 EUR.

Please help us do this by providing a few pieces of information about yourself. (PayPal members in the UK may not be required to provide this documentation.)

Provide a copy of one of the following:
1. Passport
2. Driver's license
3. National ID card

And, a copy of one of the following:
1. A utility bill you received within the last 6 months
2. A financial statement from within the last 6 months
3. Certificate of residence

All banks in the EU are required to collect this information from their members in order to help prevent money laundering.

The principal law is Directive 2005/60/EC of the European Parliament on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing. To learn more:

http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:32005L0060:EN:NOT

Turned out good after all

I just selcted Services>Services[not classified] and it went straight through.

No human verification at all

trancecommunity,
Are you saying you sent the correct info off and it went through without humans looking at it or that you just changed some bits on your account. I am in the same boat trying to avoid doing this as not all my nfo is real.
Thanks,

Mark

I just finished this problem with PayPal. I sent them a picture of my passport and a bank document that proved my address and they have activated my account again and it's all good

paypal is so confusing

Pearson said:

trancecommunity,
Are you saying you sent the correct info off and it went through without humans looking at it or that you just changed some bits on your account. I am in the same boat trying to avoid doing this as not all my nfo is real.
Thanks,

Mark

Click to expand...

Only thing that was confirmed by humans were the passport and utility bill

I was worried they would visit the business site and see something they dont agree with but the business info isnt verified by humans. It literally says accepted as soon as you type in info and press submit

I suppose If you were making money through 100% warez site that you didnt want paypal to see you could simply setup a new site with a simple template and tell paypal you make your money through it. selling SEO advice or some non material goods

I now have a Paypal a/c with no limits. I could receive 10k through it today and Paypal wouldnt say anything. I think setting up another a/c will come back and haunt you in the long run

Pearson PM me rather than reveal too much here and ill give you further advice. I think ive been limited by paypal for just about everything at least once and have always had a/c unblocked

Trance,
I can't PM but if you PM me, we can chat. Thanks

you can often resolve the issue by sending them fewer documents than they ask, but you've got to give them something