Paypal now restricting accounts, ignoring emails; requests by customers

[4channel]

Some of you may have had your PayPal account restricted or frozen due to PayPal requesting further info When speaking to a PayPal consultant, the resojn given is that tthis is what Austrac is demanding of PayPal.  PayPal seems to be targeted some account holders and not others from what is evident aat his stage. PayPal's asking for sensitive info DOB, home address and other. This is then sent to Equifax for confirmation. So people who have had PayPal accounts for years are suddenly hit with this. So now residential and other sensitive info is going to be accessed by another external party, possibly two. It's understandable that people are concerned and uncomfortable with this. And failure to comply means that funds within PayPal are frozen. lucky for PayPal though, funds can still be paid in.and of course, you can't buy or sell using your PayPal account until that info is given.

So in this  (whatever you want to call it) the players are PayPal, Austrac and Equifax.

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AUSTRAC orders audit of PayPal Australia’s compliance with financial crime laws

24 Sep 2019

AUSTRAC has ordered the appointment of an external auditor to examine ongoing concerns in regard to PayPal Australia’s compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML/CTF Act).

These concerns relate to PayPal Australia’s compliance with its International Funds Transfer Instruction reporting obligations, which require regulated entities to report the transfer of funds or property to or from Australia.

https://www.austrac.gov.au/about-us/media-release/austrac-orders-audit-paypal-australias-compliance-...

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And tnow there's another PayPal issue similar to this one that has been happening earlier

Some of you may have had your PayPal account restricted or frozen due to PayPal requesting further info When speaking to a PayPal consultant, the reason given is that this is what Austrac is demanding of PayPal.  PayPal seems to be targeted some account holders and not others from what is evident at his stage. The people targeted seem to be the folks that have a balance. A balance of a hundred dollars gets frozen.  PayPal's asking for sensitive info DOB, home address and other. This is then sent to Equifax for confirmation. So people who have had PayPal accounts for years are suddenly hit with this. So now residential and other sensitive info is going to be accessed by another external party, possibly two. It's understandable that people are concerned and uncomfortable with this. And failure to comply means that funds within PayPal are frozen. lucky for PayPal though, funds can still be paid in.and of course, you can't buy or sell using your PayPal account until that info is given.

So in this  (whatever you want to call it) the players are PayPal, Austrac and Equifax.

Regardless of wht you make of  that, haave a listen to the clip below by Mike Turber.

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PayPal Shuts Down Customer Service Freezing Accounts Leaving Many Without Money

571 views

•Jun 3, 2020

5X5 NEWS

1.34K subscribers

Get Your Money Out Of PayPal Now! Share This Message ASAP. We have been unable to confirm any information with PayPal because their customer service is closed and no one will respond to any of our enquiries. PayPal has shut down their customer service department and has left many of their customers stranded and without recourse or knowing what to do. While researching this we have found that many people are in the same situation where PayPal has taken their funds and tells the customer that they will hold it for up to six months with absolutely no explanation as to why. We reached out to PayPal for clarification about this policy and have not received a reply.

https://www.youtube.com/watch?v=dZhgvSK6eHE

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Again PayPal are not replying to people's requests!

[davewil1964]

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@4channel wrote:

After talking to some people I know as well as looking at recent posts I have noticed something interesting. It appears that the restrictions on some user's accounts has taken place once they have had a PayPal balance. Others who have not had or do not have a PayPal balance have not had the restrictions put on yet. Those people have just used their PayPal account for buying and any money used to pay comes straight from their bank card and any refunds go back to the card. But people that have had friends deposit a small sum or large sum into their accounts have had restrictions put on their account  without much warning.

PayPal scoops interest and without a doubt more! Quite intersting that accounts are restricted as soon or not long after there's a balance. And yet others haven't had that yet.

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I've had Paypal balances since I started selling. About 11 years.

I've only ever once been asked to verify my ID (a couple of years ago when my balance was approaching $1k). I complied and never had my account frozen.

Most of your issues seem to be with the requirements of the anti-laundering laws, which Paypal, as a holder of an Australian Financial Services licence, is legally required to comply with.

Sorry, not you, your mates who aren't game to post on the boards.

[4channel]

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@4channel wrote:

After talking to some people I know as well as looking at recent posts I have noticed something interesting. It appears that the restrictions on some user's accounts has taken place once they have had a PayPal balance. Others who have not had or do not have a PayPal balance have not had the restrictions put on yet. Those people have just used their PayPal account for buying and any money used to pay comes straight from their bank card and any refunds go back to the card. But people that have had friends deposit a small sum or large sum into their accounts have had restrictions put on their account  without much warning.

PayPal scoops interest and without a doubt more! Quite intersting that accounts are restricted as soon or not long after there's a balance. And yet others haven't had that yet.

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@davewil1964 wrote:

I've had Paypal balances since I started selling. About 11 years.

I've only ever once been asked to verify my ID (a couple of years ago when my balance was approaching $1k). I complied and never had my account frozen.

Most of your issues seem to be with the requirements of the anti-laundering laws, which Paypal, as a holder of an Australian Financial Services licence, is legally required to comply with.

Sorry, not you, your mates who aren't game to post on the boards.

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4channel writes:

Nothing to do with any 'issues seem to be with the requirements of the anti-laundering laws'. . I'm just posting on a current event that has affected some people I know with small balances in their accounts and what has been takng place recently abroad.  No need to slant this issue into something else sir! And as I have said in the past, any issues you have with me, I welcome a discussion with you via PM, man to man.

[4channel]

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@lyndal1838 wrote:

What nonsense!!

I have used paypal extensively for transferring funds between the USA, Canada and Australia and at times have had substantial funds in paypal.

Never during those times have I had my account restricted.

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It's not nonsense lyndal! Yes, may not have happened to you as this is something that has been taking place more now recently.

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@lyndal1838 wrote:

However, when I was using paypal to pay for ebay transactions I had my account frozen several times until I verified my details as my transactions were in excess of the amount allowed under the Australian money laundering laws.

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Well, you've had your account frozen in the past. Recently others have had this too. Funnily enough this has happened when they only have a hundred or so dollars (sometimes less) in their accounts.

Yes, people are being asked to verify their accounts with additional info, sensitive info like photo ID, home address etc.. But these anti-money laundering laws have been in place for some time now as you're very well aware. And PayPal hasn't frozen / restricted accounts like it has recently. The concern that some people have is that PayPal haven't pounced on accounts until there is money in the accounts.

With PayPal's poor customer service and attitude towards its customers leaving a lot to be desired, people are loathe to hand that sensitive info over an internet  connection. This info is traditionally presented in person to a representative of a trusted financial organization such as a bank or building society / credit union etc. at their facility. PayPal is not a bank and from what I can see, not an organization that is trusted.

[dvd.horder]

the person is asking for legitamite advice here... and all  you do is  critisise ...the people  here ....besides ..not everyone is dodgy here..

and do not give critical advice ...here ..it is not welcome

[michellebartley]

I'm enjoying these comments.

[*tippy*toes*]

I nearly always have a PayPal balance, including now. I am still able to use my account. I don't recall ever having to verify my account. Maybe I did when I created it, but that was years ago.

[davewil1964]

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@dvd.horder wrote:

the person is asking for legitamite advice here... and all  you do is  critisise ...the people  here ....besides ..not everyone is dodgy here..

and do not give critical advice ...here ..it is not welcome

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The person is not asking for advice.

I simply related my own experiences, and a possible reason for the issue. Hardly criticism.

When you have 'moderator' against your name, you can moderate. Until then anybody, even you, can post on the boards. Even if it is only ever criticism and never a solution to, or insight into, a problem.

[silver-fox-bullion]

test

[silver-fox-bullion]

HMMM funny you should bring up the MOD thing has been toying with making a post re the MODS on here for the last few days. As there a clear double standard. And I am not the only one seeing it. It seems to appear from posts that are popping up.

Which brings us to the MODS are they EBAY staff or VOLS? And how are/were they put into their position? As there a clear pattern and it time for either more MODS or a change of MODS to deal with the pattern that forming...


NO doubt this post will be deleted which will prove a point further and the other posts will be left alone which will highlight this post further...

[lyndal1838]

The Moderators are neither ebay staff nor volunteers.   They are paid to moderate the boards.

If you want to know more you can contact them either through their IDs or message them through the Report Inappropriate Content link, preferably on your own posts.