PayPal

[countrygirl12]

I don't think this is going to be a big deal. I signed up for the Cash account. I had to verify my name, address, last 4 of my ssn, etc. Then it went over various fees, mostly $0 anyway. Then it sent me back to my account summary and said welcome to your new Cash account. Everything else looks exactly the same as before.

See I would not have done that. PayPal does not have my social security number.  It is connected to my bank account.  When I talked to them today she said if you do not pay with PP or want to use it to do a bunch of stuff I have never done I can stay like I am.  I may start transferring more quickly.  I just hate to do that when I know in a couple days another deposit will hit the PP account.  I usually wait until I get a little more in there.

But then they say you can't hold a balance so I still won't know until in May when it happens how it will work.  Because say when FC makes a deposit to PP I may not immediately see it.  And all I can talk to are yay-hoos in another country that have a language barrier.

I believe you only need to give them your SSN if you are selling, for the IRS reporting/1099 thing. If you are just using it to buy or receive money, I don't think you have to provide your SSN.

Edit: They have my SSN from ages ago when I sold some stuff on ebay, I believe.

Ohhh.  I don't know how this is any of their business.  Would the reporting not go through e-bay?  Wouldn't that be the same as my bank wanting to report me for deposits to my checking account? 

I would think if I am selling something and I am getting paid who every the pay goes through it is nothing to them if I report it to the IRS or how much I make.  Kind of the same with my income.  I may work 3 jobs in one year but my bank doesn't report anything to the IRS about who made deposits in to my checking account. 

[countrygirl12]

OK so I just read through all 4 pages and honestly I am still a little confused!!
But long story short I have a balance in there as of now,....and although I "do not remember" setting up a different PP account, under my balance it says this " Available in your PayPal Cash Plus account".
So I assume I already have a PP Cash PLUS account. Not sure what that exactly means but am I good to go now and can keep the balance AND any future payments there and continue on like normal?!!! FWIW I did not sign in to a different account,...just my typical sign in to PP and that's the screen I got!
Please feel free to chime in if you have a definite correct answer!
Thanks!

I was going to post something similar. I also have a PayPal Cash Plus account but this requires giving the last 4-digits of your SS# in order to secure it. I know there are some who don't want to do that.

Well that makes sense. But honestly that is also easy to get because everybody uses the last 4 of your social. smh

[king4cash]

Thank you rghvac69 for posting the new changes, I will give them a call to explain all this mumbo jumbo..

[countrygirl12]

Thank you rghvac69 for posting the new changes, I will give them a call to explain all this mumbo jumbo..

You will give WHO a call?  rghvac69 didn't explain anything.  Just said the same thing everyone else is saying - which doesn't make sense. All anybody keeps saying is "balance and hold" like that means something.

The last person I talked to seemed to say that unless you use PP to pay for things it is not going to make a difference.  But others have said you cannot "hold a balance" meaning when different PTC sites pay me I cannot just let the money sit in the PP account.  Well it may have to sit there a day or so because I don't know immediately when money is deposited.

And from reading the comments "I" am not the only one who does not understand what they are doing.  I do know I am not giving PP my Social Security Number.

[mamatygress]

Don't you just love it when companies make big changes, but nobody understands what they're going to be?  I never keep much in my PP account unless I'm ready to use it.

[1imaginarygirl]

I don't think this is going to be a big deal. I signed up for the Cash account. I had to verify my name, address, last 4 of my ssn, etc. Then it went over various fees, mostly $0 anyway. Then it sent me back to my account summary and said welcome to your new Cash account. Everything else looks exactly the same as before.

See I would not have done that. PayPal does not have my social security number.  It is connected to my bank account.  When I talked to them today she said if you do not pay with PP or want to use it to do a bunch of stuff I have never done I can stay like I am.  I may start transferring more quickly.  I just hate to do that when I know in a couple days another deposit will hit the PP account.  I usually wait until I get a little more in there.

But then they say you can't hold a balance so I still won't know until in May when it happens how it will work.  Because say when FC makes a deposit to PP I may not immediately see it.  And all I can talk to are yay-hoos in another country that have a language barrier.

I believe you only need to give them your SSN if you are selling, for the IRS reporting/1099 thing. If you are just using it to buy or receive money, I don't think you have to provide your SSN.

Edit: They have my SSN from ages ago when I sold some stuff on ebay, I believe.

Ohhh.  I don't know how this is any of their business.  Would the reporting not go through e-bay?  Wouldn't that be the same as my bank wanting to report me for deposits to my checking account? 

I would think if I am selling something and I am getting paid who every the pay goes through it is nothing to them if I report it to the IRS or how much I make.  Kind of the same with my income.  I may work 3 jobs in one year but my bank doesn't report anything to the IRS about who made deposits in to my checking account. 

That's what I thought too. I just read about the IRS reporting somewhere. That part may or may not be true, but asking for the last 4 of your SSN is a security requirement. I found this on PayPal's FAQs:

Why do I have to confirm my identity to hold a balance with PayPal?
Even though PayPal isn’t a bank, we need to comply with the same government regulations as other financial institutions. We’re asking for identifying information so you can keep money in PayPal and use other features that rely on a balance. In addition to verifying your identity with PayPal, you will also need to set up a balance account which will be linked to your personal account.

If you don’t provide identifying information, or we’re unable to confirm the identifying information you provide us, you will not be able to use a balance to send money or make purchases. However, you’ll still be able to use your preferred payment method or backup payment method such as your bank or debit or credit card to send money or to make purchases.

[countrygirl12]

I don't think this is going to be a big deal. I signed up for the Cash account. I had to verify my name, address, last 4 of my ssn, etc. Then it went over various fees, mostly $0 anyway. Then it sent me back to my account summary and said welcome to your new Cash account. Everything else looks exactly the same as before.

See I would not have done that. PayPal does not have my social security number.  It is connected to my bank account.  When I talked to them today she said if you do not pay with PP or want to use it to do a bunch of stuff I have never done I can stay like I am.  I may start transferring more quickly.  I just hate to do that when I know in a couple days another deposit will hit the PP account.  I usually wait until I get a little more in there.

But then they say you can't hold a balance so I still won't know until in May when it happens how it will work.  Because say when FC makes a deposit to PP I may not immediately see it.  And all I can talk to are yay-hoos in another country that have a language barrier.

I believe you only need to give them your SSN if you are selling, for the IRS reporting/1099 thing. If you are just using it to buy or receive money, I don't think you have to provide your SSN.

Edit: They have my SSN from ages ago when I sold some stuff on ebay, I believe.

Ohhh.  I don't know how this is any of their business.  Would the reporting not go through e-bay?  Wouldn't that be the same as my bank wanting to report me for deposits to my checking account? 

I would think if I am selling something and I am getting paid who every the pay goes through it is nothing to them if I report it to the IRS or how much I make.  Kind of the same with my income.  I may work 3 jobs in one year but my bank doesn't report anything to the IRS about who made deposits in to my checking account. 

That's what I thought too. I just read about the IRS reporting somewhere. That part may or may not be true, but asking for the last 4 of your SSN is a security requirement. I found this on PayPal's FAQs:

Why do I have to confirm my identity to hold a balance with PayPal?
Even though PayPal isn’t a bank, we need to comply with the same government regulations as other financial institutions. We’re asking for identifying information so you can keep money in PayPal and use other features that rely on a balance. In addition to verifying your identity with PayPal, you will also need to set up a balance account which will be linked to your personal account.

If you don’t provide identifying information, or we’re unable to confirm the identifying information you provide us, you will not be able to use a balance to send money or make purchases. However, you’ll still be able to use your preferred payment method or backup payment method such as your bank or debit or credit card to send money or to make purchases.

Are you the one who said you work for a vet?
Changing subjects I know lol

[1imaginarygirl]

I don't think this is going to be a big deal. I signed up for the Cash account. I had to verify my name, address, last 4 of my ssn, etc. Then it went over various fees, mostly $0 anyway. Then it sent me back to my account summary and said welcome to your new Cash account. Everything else looks exactly the same as before.

See I would not have done that. PayPal does not have my social security number.  It is connected to my bank account.  When I talked to them today she said if you do not pay with PP or want to use it to do a bunch of stuff I have never done I can stay like I am.  I may start transferring more quickly.  I just hate to do that when I know in a couple days another deposit will hit the PP account.  I usually wait until I get a little more in there.

But then they say you can't hold a balance so I still won't know until in May when it happens how it will work.  Because say when FC makes a deposit to PP I may not immediately see it.  And all I can talk to are yay-hoos in another country that have a language barrier.

I believe you only need to give them your SSN if you are selling, for the IRS reporting/1099 thing. If you are just using it to buy or receive money, I don't think you have to provide your SSN.

Edit: They have my SSN from ages ago when I sold some stuff on ebay, I believe.

Ohhh.  I don't know how this is any of their business.  Would the reporting not go through e-bay?  Wouldn't that be the same as my bank wanting to report me for deposits to my checking account? 

I would think if I am selling something and I am getting paid who every the pay goes through it is nothing to them if I report it to the IRS or how much I make.  Kind of the same with my income.  I may work 3 jobs in one year but my bank doesn't report anything to the IRS about who made deposits in to my checking account. 

That's what I thought too. I just read about the IRS reporting somewhere. That part may or may not be true, but asking for the last 4 of your SSN is a security requirement. I found this on PayPal's FAQs:

Why do I have to confirm my identity to hold a balance with PayPal?
Even though PayPal isn’t a bank, we need to comply with the same government regulations as other financial institutions. We’re asking for identifying information so you can keep money in PayPal and use other features that rely on a balance. In addition to verifying your identity with PayPal, you will also need to set up a balance account which will be linked to your personal account.

If you don’t provide identifying information, or we’re unable to confirm the identifying information you provide us, you will not be able to use a balance to send money or make purchases. However, you’ll still be able to use your preferred payment method or backup payment method such as your bank or debit or credit card to send money or to make purchases.

Are you the one who said you work for a vet?
Changing subjects I know lol

Not currently, but I have in the past.

[countrygirl12]

I don't think this is going to be a big deal. I signed up for the Cash account. I had to verify my name, address, last 4 of my ssn, etc. Then it went over various fees, mostly $0 anyway. Then it sent me back to my account summary and said welcome to your new Cash account. Everything else looks exactly the same as before.

See I would not have done that. PayPal does not have my social security number.  It is connected to my bank account.  When I talked to them today she said if you do not pay with PP or want to use it to do a bunch of stuff I have never done I can stay like I am.  I may start transferring more quickly.  I just hate to do that when I know in a couple days another deposit will hit the PP account.  I usually wait until I get a little more in there.

But then they say you can't hold a balance so I still won't know until in May when it happens how it will work.  Because say when FC makes a deposit to PP I may not immediately see it.  And all I can talk to are yay-hoos in another country that have a language barrier.

I believe you only need to give them your SSN if you are selling, for the IRS reporting/1099 thing. If you are just using it to buy or receive money, I don't think you have to provide your SSN.

Edit: They have my SSN from ages ago when I sold some stuff on ebay, I believe.

Ohhh.  I don't know how this is any of their business.  Would the reporting not go through e-bay?  Wouldn't that be the same as my bank wanting to report me for deposits to my checking account? 

I would think if I am selling something and I am getting paid who every the pay goes through it is nothing to them if I report it to the IRS or how much I make.  Kind of the same with my income.  I may work 3 jobs in one year but my bank doesn't report anything to the IRS about who made deposits in to my checking account. 

That's what I thought too. I just read about the IRS reporting somewhere. That part may or may not be true, but asking for the last 4 of your SSN is a security requirement. I found this on PayPal's FAQs:

Why do I have to confirm my identity to hold a balance with PayPal?
Even though PayPal isn’t a bank, we need to comply with the same government regulations as other financial institutions. We’re asking for identifying information so you can keep money in PayPal and use other features that rely on a balance. In addition to verifying your identity with PayPal, you will also need to set up a balance account which will be linked to your personal account.

If you don’t provide identifying information, or we’re unable to confirm the identifying information you provide us, you will not be able to use a balance to send money or make purchases. However, you’ll still be able to use your preferred payment method or backup payment method such as your bank or debit or credit card to send money or to make purchases.

Are you the one who said you work for a vet?
Changing subjects I know lol

Not currently, but I have in the past.

Going to start a new thread about Rabies - read it please

[CJ555]

So I am starting to assume that even though I already have a "PP PLUS Acct",..I will still need to give them the  my last 4 of my SS#? (At least if I want to "hold my current balance" and be able to use it as payment?
But I am really curious as to what happens to that cash if I or whoever does not verify the SS#?  I assume it automatically gets sent to the persons bank acct on file?!!
But then again I was under the impression some people only use their credit card(s),...not actual bank accounts,..so,....??!!
Maybe I am thinking too much into this,...but I don't want my $30+ current balance being "confiscated"! LOL

[countrygirl12]

So I am starting to assume that even though I already have a "PP PLUS Acct",..I will still need to give them the  my last 4 of my SS#? (At least if I want to "hold my current balance" and be able to use it as payment?
But I am really curious as to what happens to that cash if I or whoever does not verify the SS#?  I assume it automatically gets sent to the persons bank acct on file?!!
But then again I was under the impression some people only use their credit card(s),...not actual bank accounts,..so,....??!!
Maybe I am thinking too much into this,...but I don't want my $30+ current balance being "confiscated"! LOL

If you already have the other account it should not effect you at all.  If the money is transferred it can only be transferred to your bank account.  If somebody hacks your pp they can spend your money.  That happened to a friend who had bought a lot on eBay and that is where the hack came from.

The change takes place tomorrow so I guess we will all find out for sure then huh. lol  Or after you get a deposit after tomorrow.  I have a zero balance right now.

[aflyingmonkey]

I have 3 paypal accounts from back in the day when I sold online.  Two are connected directly to two bank accounts & I have paypal money go directly into my banks. Recently on one of these, it became restricted, & I had to upload my driver's license & then the account was freed up to go directly back into my bank again.

One of my accounts is not connected to a bank account. That account has recently been restricted until I upload my social security card -- the entire card with full social security & name. My account became like google wallet where I need to claim the money each time & the money is not put into my paypal account, I had to upload a debit card to that account & then the claimed money goes directly on to my debit card.  That process is working out fine, without uploading my ss card.  I had like $7.95 on that account unclaimed for a few weeks & it was never sent back to the sender, just held in limbo.

Hopefully my changes already went into effect & nothing new will occur for me tomorrow...

[tantricia44]

I got the notice but I don't why bc I've been inactive with paypal for several years. I don't plan to reactivate my account since I don't really trust it from the beginning. I'll just wait and see what happens.

[countrygirl12]

I have 3 paypal accounts from back in the day when I sold online.  Two are connected directly to two bank accounts & I have paypal money go directly into my banks. Recently on one of these, it became restricted, & I had to upload my driver's license & then the account was freed up to go directly back into my bank again.

One of my accounts is not connected to a bank account. That account has recently been restricted until I upload my social security card -- the entire card with full social security & name. My account became like google wallet where I need to claim the money each time & the money is not put into my paypal account, I had to upload a debit card to that account & then the claimed money goes directly on to my debit card.  That process is working out fine, without uploading my ss card.  I had like $7.95 on that account unclaimed for a few weeks & it was never sent back to the sender, just held in limbo.

Hopefully my changes already went into effect & nothing new will occur for me tomorrow...

How come it was restricted? Just curious.

The one person told me you have to claim the money.  I will be glad when it happens so I know.  I do not know any reason at all PayPal would need my social security number.  That is NONE of their business.  As they said, they are not a bank.

[countrygirl12]

I got the notice but I don't why bc I've been inactive with paypal for several years. I don't plan to reactivate my account since I don't really trust it from the beginning. I'll just wait and see what happens.

Because you still have an account.  You need to go in and delete the account.  I don't think accounts are deactivated.  I have 2 PP accounts.  One I only used once.  But no bank account is connected to it.  The changes take place Wednesday.