Paypal now restricting accounts, ignoring emails; requests by customers

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.

 

 

 



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

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-...

 




 

 

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

 

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


 

Again PayPal are not replying to people's requests!

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Paypal now restricting accounts, ignoring emails; requests by customers

Congratulations. You've managed to reference 2020, rather than 2000. Albeit almost 5 months after the 'fact'.

 

I haven't had my Paypal funds frozen, nor have I had to provide more information than any other Australian financial institution requires. I guess that means I'm not dodgy

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Paypal now restricting accounts, ignoring emails; requests by customers

You don't quit do you!

 

Well neither have I. But that's not the point. Other people are and there seems to be a degree of incompetence and arrogance within PayPal.

 

Watch the video.

 

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Paypal now restricting accounts, ignoring emails; requests by customers

Why would I watch a video? I am reporting my own experience, not a third-party beatup. Albeit current rather than several months ago.

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Paypal now restricting accounts, ignoring emails; requests by customers

lyndal1838
Honored Contributor

Too bad you could no find any links to Paypal in Australia to spread your scaremongering.

All the horror stories relate to Paypal customers in the USA where banking practices are vastly different to Australia.

 

Any problems here should be referred to APRA where PP is a registered deposit taking entity.

 

As for handing over identity documents.....why is it such a problem when you have probably given all the information to your banks or other financial institutions and have registered those accounts with PP anyway.

It is precisely because PP is answerable to APRA that they are making sure they are complying with Australian Law and require you to provide your ID documents.

 

I have been using PP since long before it was called paypal and was acquired by ebay and have had to provide identity documents a number of times during those years.  Nothing dire has ever happened.

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Paypal now restricting accounts, ignoring emails; requests by customers


@lyndal1838 wrote:

Too bad you could no find any links to Paypal in Australia to spread your scaremongering.

 


I'm not scaremongering as you incorrectly put it. I'm just sharing info. And it comes as no surprise that you would use that term

 

BTW: I personally know two Australian people who have had their accounts frozen. Also a couple of others here in eBay forums have had these issues.

 


@lyndal1838 wrote:

 

 

As for handing over identity documents.....why is it such a problem when you have probably given all the information to your banks or other financial institutions and have registered those accounts with PP anyway.

It is precisely because PP is answerable to APRA that they are making sure they are complying with Australian Law and require you to provide your ID documents.

 


I personally have no issue with providing my personal bank additional info, passport, drivers licence, utility bill etc.,. But PayPal is not a bank, it's a service.I would be hesitant in providing sensitive info  on line to an organisation that is not a bank.And with this organisation with a proven track record of bad customer service.

 

With the testimonies by the people commenting on the YT clips, telling how they have provided all their sensitive info and six months later their money is still frozen, well that says it all!

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Paypal now restricting accounts, ignoring emails; requests by customers


@4channel wrote:

 

I personally have no issue with providing my personal bank additional info, passport, drivers licence, utility bill etc.,. But PayPal is not a bank, it's a service.I would be hesitant in providing sensitive info  on line to an organisation that is not a bank.And with this organisation with a proven track record of bad customer service.

 

Whilst Paypal is not a bank, it does have to adhere to the regulations as shown in the link/PDF below.

 

file:///C:/Users/Padi/AppData/Local/Temp/45_attach1.pdf

 

With the testimonies by the people commenting on the YT clips, telling how they have provided all their sensitive info and six months later their money is still frozen, well that says it all!

 

I suspect that there are a lot more Paypal customers that have had no problems with their account limitations than there are that have had problems. It is well known that bad experiences can skew the results of feedback/complaint sites. 

 

https://www.paypal.com/au/webapps/mpp/account-limitations

 


 

______________________________________________________

"Start me up I'll never stop......"
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Paypal now restricting accounts, ignoring emails; requests by customers

No paypal is not a bank but it is registered with APRA which means they operate under similar rules to an Australian bank.  Any complaints to APRA will soon see paypal pulled into line.

 

The Australian banking system is completely different to the US system which is what the video clip was all about.

 

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Paypal now restricting accounts, ignoring emails; requests by customers

 

 


@padi*0409 wrote:

Whilst Paypal is not a bank, it does have to adhere to the regulations as shown in the link/PDF below.

 

 


 

Yes PayPal has to comply, adhere, cooperate with whoever, AUSTRAC included. But people who have used PayPal for years now are being asked to giver sensitive additional info to this organisation and provide it to them via online. Most people will only do this in person over the counter at their bank or building society etc.. PayPal is not a bank and its customer service is abysmal!

 

This request by PayPal to some of its Australian members is a recent thing with further restrictions to be added in November this year.


@padi*0409 wrote:

I suspect that there are a lot more Paypal customers that have had no problems with their account limitations than there are that have had problems. It is well known that bad experiences can skew the results of feedback/complaint sites.

 


Well, that definitely doesn't appear to be the case here. The people who have been giving their account of this are individuals and these are not people on the complaint / feedback sites you mention.

 

 

Beloqw are threads from last year and recently this year


PayPal now require photo ID

 

https://community.ebay.com.au/t5/Selling/PayPal-now-require-photo-ID/m-p/2358251#M203990

 

PayPal problem

 

https://community.ebay.com.au/t5/Buying/Paypal-problem/m-p/2358328

 


The below case here is just beyond disgusting. Yes it's in the US but this gives an account of what the service culture of the company is

 




Local woman: PayPal freezes account after unemployment deposit


https://www.news10.com/news/local-woman-paypal-freezes-account-after-unemployment-deposit/

 


 

Could it happen here? Is it starting to happen?

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Paypal now restricting accounts, ignoring emails; requests by customers


@lyndal1838 wrote:

No paypal is not a bank but it is registered with APRA which means they operate under similar rules to an Australian bank.  Any complaints to APRA will soon see paypal pulled into line.

 

The Australian banking system is completely different to the US system which is what the video clip was all about.

 


The video was not all about the US system. It's about the freezing of accounts which has just started here. It's also about the horrible customer service thaty PayPal has. See the other clip too.


 

PayPal Shuts Down Customer Service Freezing Accounts Leaving Many Without Money

571 views
Jun 3, 2020

 

1.34K subscribers

 

Banned from PAYPAL for NO REASON! $5k + FROZEN
•Sep 30, 2020

Gem Mint Collectibles

 

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

 

------------------------------------------------------------------------------------------------

PAYPAL BANS MY ACCOUNT FOR NO REASON, FREEZING OVER $5,000 FOR THREE MONTHS!

 

93.9K subscribers

 

https://www.youtube.com/watch?v=2f6aDD_yew8

 


Well, we are now in troubled times with civil unrest and the economy both here and abroad being forced in a downward spiral due to COVID 19. PayPal is holding the money that doesn't belong to them. People have given sensitive personal info to this company and their funds are still not released. Months later and even after numerous attempts to contact someone within the company, nothing has happened. Some of the amounts are way less than $100 but that is money much needed in these times.

 

'We would hope that PayPal does not go into administration or declare themselves bankrupt!

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