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Thread: New Paypal requirement?

  1. #26
    Super Member mermaid's Avatar
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    Quote Originally Posted by ptquilts View Post
    You can do that but there is a delay in the seller getting the money. It is an E-check and takes days to clear.
    Might depend on what kind of acct the seller has with Paypal..I assumed their money would be transferred to their PP acct...I buy, go to my bank acct on line and already the memo posting is showing. My feedback from sellers is excellent--they say "pays immediately". Once I ordered from ebay..never got notice from the seller and after several days I ck'd my acct at Paypal to see if he had accessed payment. He never had. I sent him email & got no answer, so I canceled the transaction. Still don't know what happened!

  2. #27
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    I refuse to give anyone my bank account info. PayPal has a "rule" "condition". If you spend a total of $5,000, you cannot use your credit card anymore... unless you give them your bank account number. That is $5,000 lifetime total transactions..I met that total a few years ago after using PP for 5 years....they immediately notified me that I COULD NO LONGER USE PAYPAL WITHOUT GIVING THEM MY BANK ACCOUNT INFO. I thought it was a hoax...called them...sure enough, it is their policy. I have not used Paypal since....of course, I couldn't anyway. They did say, I can continue to use my charge card, but they still needed my bank account number. All these folks are getting way too intrusive. Bad enough that the new healthcare law allows the government, and doctor's office access to all of your banking information including balances, savings, iras, all accounts!
    D in TX
    Last edited by Lady Diana; 07-22-2012 at 08:46 AM.

  3. #28
    Junior Member sweetlummi's Avatar
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    why don't you us a reload card . Just put money on and us that.

  4. #29
    Senior Member dorrell ann's Avatar
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    I guess I will never use paypal!!

  5. #30
    QKO
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    Quote Originally Posted by ptquilts View Post
    You can do that but there is a delay in the seller getting the money. It is an E-check and takes days to clear.
    There are two different methods, depending on how your paypal buying account is set up and funded.

    An E-check is different than an instant transfer.Set up your paypal account with a linked bank account, as she apparently has, and every time you don't have funds in your paypal account to cover the purchase, paypal will tap your bank account for the purchase. With just a linked bank account, e-check is the option that will be used, and it will take 3-5 days for the payment to clear.

    If you set up a second funding source, such as a credit or debit card, in addition to your bank account, you are able to use Paypal instant transfer to make your purchases. This is way better because as a seller, you don't have to wait for the money, and as a buyer, you are able to make multiple purchases. Some sellers, like ebay, limit your e-check purchases to one at a time, until the e-check clears.

    So, to have maximum purchasing ability with the best protection and ease of use, you should set up your paypal buying account with two funding sources. You can use the bank account, and a debit card on the same bank account as your second source. Don't transfer any money from your bank account to your paypal account. When you buy, paypal will automatically tap your bank account for the money, an instant transfer will occur, and everyone is happy.

    And with this method, you don't need to give your SSN to paypal, unless you start selling and collecting money through paypal. If you have a separate bank account for just online purchases, always remember to keep double the money in the account that you'll need to cover the purchases you are making. If you want an explanation as to why you need to do this, just ask...
    Last edited by QKO; 07-22-2012 at 10:38 AM.

  6. #31
    Super Member mermaid's Avatar
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    QKO..you have done a great explanation of how a PP acct works! Very clear..& I see that my acct is using 'instant transfer', so that is why I am happy and so are my sellers. PP also has my credit card info, and I have the option to "tick" the method I want to use for a particular purchase. Sometimes for a large cost (machine or such), I will choose the CC option. Maybe I think it affords me more protection if I am buying from an ebay store. ?? I don't know that I am really more secure...but the instant buying can be so easy that it becomes addictive! That is spelled..ADDICTIVE! LOL

  7. #32
    Super Member vickig626's Avatar
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    Quote Originally Posted by QKO View Post
    If you use paypal as a seller, you've been being notified for over a year now that new government regulations require paypal to report to the IRS sales in excess of 20,000 dollars and 200 transactions per year. They need to have your SSN or tax number to report this to the IRS on form 1099-K. Since they don't know until after the fact whether you'll meet those thresholds, they require the SSN from anyone receiving money through paypal.

    Here is the paypal information that explains it. This is not a hoax, this is the law. If you don't give them your SSN, they won't/can't allow you to use paypal to do business.

    https://cms.paypal.com/us/cgi-bin/ma...ng_us/IRS6050W
    I've been using PayPal for years and have never received anything like this. This sounds like a scam to me, as well as the other post. Contact PayPal directly - not the number that might be provided in these emails.

    I was a victim of a $2K scam years ago so I don't trust anything like these anymore. Scammers can create websites that look like valid sites, even include the BBB logo (which takes you to a bogus BBB site with positive feedback). Gee, how do I know this? I fell for the whole thing and signed up for an online course to learn web design. Over $2 million were scammed from many people and, yes, the crooks did end up in jail but we never saw a penny of our money.
    Sorry for rattling on but please don't fall for these scams.
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  8. #33
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    I agree with the advice already given. I have gotten stange emails from PayPal and called and they had me forward to fraud dept they have. I do not give SS number to a lot of people I deal with, even in person. I tell them I do not know the number and ask why they need it. Take care.

  9. #34
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    Sounds suspicious to me.

  10. #35
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    I recieved a notice like that a while back. I just deleted it and have no problems at all to purchase things. I heard some are a hoax and i don't sell to worry about the other point.

  11. #36
    QKO
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    Quote Originally Posted by vickig626 View Post
    I've been using PayPal for years and have never received anything like this. This sounds like a scam to me, as well as the other post. Contact PayPal directly - not the number that might be provided in these emails.

    I was a victim of a $2K scam years ago so I don't trust anything like these anymore. Scammers can create websites that look like valid sites, even include the BBB logo (which takes you to a bogus BBB site with positive feedback). Gee, how do I know this? I fell for the whole thing and signed up for an online course to learn web design. Over $2 million were scammed from many people and, yes, the crooks did end up in jail but we never saw a penny of our money.
    Sorry for rattling on but please don't fall for these scams.
    Well, this particular requirement, and the website I quoted, isn't a scam. They don't notify you in emails, as the OP stated she gets notified when she logs in to her paypal account.

    If you do any receiving of money through paypal, or if you import money into your paypal account through bank transfers, you need to fulfill this requirement -- it's not a paypal requirement, it's an IRS requirement. Anyone who sells through paypal or, like our store, uses paypal as their merchant services provider, has been notified of this requirement for over a year.

    It would be really nice if people researched this stuff, and commented with some understanding and knowledge, before just automatically assuming that everything that comes across their computer is a scam, and spreading misinformation. Sure, there are lots of scams out there -- this requirement just doesn't happen to be one of them.

    Normally, if paypal wants to notify you of changes, they'll put a popup up that will appear when you log in to your paypal account. Sometimes they'll send an email telling you to log in to your account to see the changes. They won't include any requests to you for your login info, nor will they include links on their emails.

    If you're in doubt about anything concerning paypal, first log in to your account, then contact them using the contact information found in their website.
    Last edited by QKO; 07-22-2012 at 01:37 PM.

  12. #37
    Super Member margecam52's Avatar
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    Only merchants have to provide a SS#...if you are a seller, you are a merchant. You don't need it to buy using paypal. At least that's my understanding of the law.
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  13. #38
    Senior Member mrsjdt's Avatar
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    Just purchased last evening---no request for me....I used my debit card.

  14. #39
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    Always call them yourself. Or go to their site, tell them what you got, and ask whether that's true. I can't believe they need your SS#.

  15. #40
    Senior Member captlynhall's Avatar
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    Maybe I'm missing something here, but why go to all that trouble. Why not just use a credit card/
    When a dying man asked his pastor "How long does it take to die?" his pastor's heartfelt reply was "A lifetime." Live life to the fullest, but stop now and then to enjoy the sunset.
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  16. #41
    Senior Member charlottemarie's Avatar
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    I have received requests like that, but it was a scam. Paypal did not send it to me. I deleted it and ignored it. You should be very careful. I've received it more than once and unless you are sure you are dealing with paypal, ignore it.
    Life is Good!

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  17. #42
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    Quote Originally Posted by charlottemarie View Post
    I have received requests like that, but it was a scam. Paypal did not send it to me. I deleted it and ignored it. You should be very careful. I've received it more than once and unless you are sure you are dealing with paypal, ignore it.
    If you forward the entire e-mail to: [email protected], then PayPal has a chance to investigate those types of things.

  18. #43
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    if i can't pay with my bank card, i look elsewhere to buy

  19. #44
    Power Poster Prism99's Avatar
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    I frequently use a credit card through PayPal to buy online. It is much safer than giving your credit card number directly to a merchant. PayPal adds a huge extra layer of protection to using a credit card online.

    I do not transfer money from my bank account to my PayPal account, so my PayPal account is usually at 0. If I want to buy something online, my first choice is always to use one of the credit cards I have added to my PayPal account (these can be ANY credit cards, not necessarily PayPal's credit card, and you can add as many as you want) because (1) I get the extra insurance of paying with a credit card, such as being able to dispute a charge, (2) the credit card I use has reward points I can cash in later, and (3) doing the cc through PayPal is safer than just using a cc.

    If I can use PayPal but not a credit card (for example, if I want to buy something from someone listing on the QB thrift shop area), then I pay with the default option of PayPal. It is an instant transfer because I have linked my bank account to my PayPal acccount and have also linked a backup credit card.

  20. #45
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    Was it a number in the email that you received that you called if so I would not trust what was said. Get the real number for paypal and ask to talk to a manager. This just doesn't sound right. As a buyer they do not need your SSN. Only for sellers and that should be done when you set up the account to sell. They have never asked me as a buyer for mine and I would not give it to them anyway.

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