Poll: Has Paypal asked you for this information?

AngryTurtle · January 17, 2020 12:44PM

Out of the blue sometime ago Paypal asked for the following from me:

As a regulated financial institution we're required to collect and verify certain information about you. At the moment you need >to verify your identity by providing us with a proof of identity.

What is a valid proof of identity?

We accept a copy of:

Your ID card

Your driving licence (the plastic card, not the official letter)

Your Passport

Other photo ID that was issued by a government body.

I am 100% positive that this is actually from PayPal, and is not a phishing attempt
An interesting sidenote is that I am a California resident, and so now in 2020 the California Consumer Protection Act is now in the picture also. Paypal have recently renewed the request for this information.
Have you been asked by PayPal for this info?

AngryTurtle · January 17, 2020 12:45PM

I am the first vote to answer "yes" to the Poll.

jt88 · January 17, 2020 12:52PM

PayPal asked me this info about 6 months ago. I gave them the info but they still want my home address. I just ignored it

Coinstartled · January 17, 2020 12:54PM

No...all they want from me is their usurious cut.

291fifth · January 17, 2020 1:12PM

I don't trust any such requests. You should contact PayPal directly by phone and determine if the request actually came from them and why it was requested.

taxmad · January 17, 2020 1:17PM

I was asked for a copy of my DL 3 or 4 years ago and never sent it. As a result my account is 'limited' and I cannot transfer money into it from my bank accounts. I can still use it to buy things - and have used credit cards or bank accounts to fund the purchase - and I have sold things and had no problem receiving money and transferring it to my bank account.

I went back in to my account to see if I am still getting the red exclamation point in the corner telling me I need to do something - and it is gone...

amwldcoin · January 17, 2020 1:54PM

I honestly don't remember. I signed up for a commercial account years ago. No one has ever asked for my Passport!

LindeDad · January 17, 2020 2:08PM

I don't know either, but I lost a bunch of mimories when I had my stroke.

derryb · January 17, 2020 2:10PM

Yep, been there. Make a photo of one of the required documents (only one is required), black out info they did not request, and upload the pic to them.

johnny9434 · January 17, 2020 2:26PM

No and if they do ill delete it

AngryTurtle · January 17, 2020 3:56PM

@291fifth said:
I don't trust any such requests. You should contact PayPal directly by phone and determine if the request actually came from them and why it was requested.

I have. They locked my account (no transactions at all allowed).They confirmed originating the request, refuse to say why, and will not allow me to close my account until I file the requested documents. I have filed a formal complaint with them under the California Consumer Protection Act (CCPA), under which they are required to divulge all information they have on me. I expect the answer might be that they will comply once I send them a copy of my passport.

AngryTurtle · January 17, 2020 3:59PM

Results so far: 77 Percent No request ( 24 votes) and 22 percent Yes documents have been requested (7 votes). Somewhat more have been requested than I expected, but its not 100%, and it seems some people are "special" and get the request 😊

jrt103 · January 17, 2020 4:01PM

@johnny9434 said:
No and if they do ill delete it

agreed

AngryTurtle · January 17, 2020 4:10PM

@jrt103 said:

@johnny9434 said:
No and if they do ill delete it

agreed

From my experience (see above) once your documents are requested you cannot delete your account until you provide the documents.

lkeigwin · January 17, 2020 4:24PM

I live in CA too and have not been asked to do this. I'll bet that at some point I am, even though I've had a PayPal account for 20 years.
Lance.

BStrauss3 · January 17, 2020 4:30PM

FinCen KYC (Know Your Customer) and CDD (Customer Due Diligence) requires banks to make certain efforts to, well, know their customers.

https://www.fincen.gov/resources/statutes-regulations/federal-register-notices/customer-due-diligence-requirements

links out to GPO: https://www.govinfo.gov/content/pkg/FR-2016-05-11/pdf/2016-10567.pdf

(1) Customer identification and verification, (2) beneficial ownership identification and verification, (3) understanding the nature and purpose of customer relationships to develop a customer risk profile, and (4) ongoing monitoring for reporting suspicious transactions and, on a risk-basis, maintaining and updating customer information.

46 Relevant documentation may include unexpired government-issued identification evidencing nationality or residence and bearing a photograph or similar safeguard, such as a driver’s license or passport. See, e.g., 31 CFR 1020.220(a)(2)(ii)(A)(1).

mustangmanbob · January 17, 2020 5:55PM

I had to renew a CD for my mom (I have POA since she is really not there anymore) and even though she is a long term client at the bank, I had to provide 2 government issued ID's for her.

CCGGG · January 17, 2020 6:07PM

No and I probably wouldn't give it to them if they did.

SaorAlba · January 17, 2020 6:55PM

No, and my Cold War mentality would tell them to go....

Kliao · January 17, 2020 7:00PM

Sounds like a scam. Call PayPal directly to ask about it and don’t click any links in the email or use the contact info in the email

Hemispherical · January 17, 2020 8:48PM

Interesting. Have you sold anything? Might be trying to verify identity to send the tax documents.

derryb · January 17, 2020 9:04PM

@Kliao said:
Sounds like a scam. Call PayPal directly to ask about it and don’t click any links in the email or use the contact info in the email

Like others have said here, it's legit.

Government has laid a lot of requirements on banks and payment processors, via the Patriot Act, in recent years under the guise of "preventing the funding of terrorism." It's really about requiring third parties (anyone who is now required to issue a 1099) to provide data to the government on tax payers who just might not volunteer that information themselves (tax evasion).

For Paypal to legally comply they need personal info on account holders and they need to verify the ID of account holders. People receiving these request from PP were likely not required to provide the data back when they opened the accounts, but Paypal, in updating their account data is requesting it now. It's no different than going into a local bank these days and opening an account or going to the post office to rent a PO box.

If one cannot trust Paypal with this data, how can one trust Paypal with the funds in their account?

A legitimate request from Paypal does not require one to click on email links to provide the requested info. It is done within the Paypal account.

Kirt · January 18, 2020 3:56AM

@BStrauss3 and @derryb have it correct - it is being asked as a result of anti-money laundering legislation that requires financial institutions to verify their customers. Why they can't tell you that is probably due to the training their reps receive; try saying "Is this about the Patriot act anti-money laundering?" and they'll likely confirm. They probably don't like volunteering the information because some customers go absolutely mental when told why it's being collected.

You can avoid the risk of doing it online by calling PayPal directly. They'll provide an email address to send an image of your identification; strongly suggest password-protected PDF (give them the password while you're on the phone). If you do not provide the requested information, you may find yourself very limited in what you can do, and they may close your account.

jmlanzaf · January 18, 2020 4:40AM

@derryb said:

@Kliao said:
Sounds like a scam. Call PayPal directly to ask about it and don’t click any links in the email or use the contact info in the email

Like others have said here, it's legit.

Government has laid a lot of requirements on banks and payment processors, via the Patriot Act, in recent years under the guise of "preventing the funding of terrorism." It's really about requiring third parties (anyone who is now required to issue a 1099) to provide data to the government on tax payers who just might not volunteer that information themselves (tax evasion).

For Paypal to legally comply they need personal info on account holders and they need to verify the ID of account holders. People receiving these request from PP were likely not required to provide the data back when they opened the accounts, but Paypal, in updating their account data is requesting it now. It's no different than going into a local bank these days and opening an account or going to the post office to rent a PO box.

If one cannot trust Paypal with this data, how can one trust Paypal with the funds in their account?

A legitimate request from Paypal does not require one to click on email links to provide the requested info. It is done within the Paypal account.

I pretty much agree with everything you say.

I wonder if it is only an issue for certain types of accounts. My account is linked to a bank account and I've never been asked, for example.

jmlanzaf · January 18, 2020 4:43AM

And to all the paranoid individuals who want to tell PayPal to go suck an egg, could you consider it from the opposite direction?

If I want to run a scam on eBay, I want a fake temporary address and a fake temporary ID. If PayPal DOESN'T verify the clients identity, they are enabling those committing fraud.

ricko · January 18, 2020 5:26AM

No... I have not been asked. I assume (danger) they are starting with large volume accounts...perhaps even a cut off level....I am not a big user....Cheers, RickO

derryb · January 18, 2020 5:31AM

@jmlanzaf said:

I wonder if it is only an issue for certain types of accounts. My account is linked to a bank account and I've never been asked, for example.

Aren't all PP accounts linked to a bank account?

amwldcoin · January 18, 2020 5:58AM

I would wager it is triggered when the threshold of required 1099's is crossed.

The more I think about it I think I did have to verify my ID when this began.

@jmlanzaf said:

@derryb said:

@Kliao said:
Sounds like a scam. Call PayPal directly to ask about it and don’t click any links in the email or use the contact info in the email

Like others have said here, it's legit.

Government has laid a lot of requirements on banks and payment processors, via the Patriot Act, in recent years under the guise of "preventing the funding of terrorism." It's really about requiring third parties (anyone who is now required to issue a 1099) to provide data to the government on tax payers who just might not volunteer that information themselves (tax evasion).

For Paypal to legally comply they need personal info on account holders and they need to verify the ID of account holders. People receiving these request from PP were likely not required to provide the data back when they opened the accounts, but Paypal, in updating their account data is requesting it now. It's no different than going into a local bank these days and opening an account or going to the post office to rent a PO box.

If one cannot trust Paypal with this data, how can one trust Paypal with the funds in their account?

A legitimate request from Paypal does not require one to click on email links to provide the requested info. It is done within the Paypal account.

I pretty much agree with everything you say.

I wonder if it is only an issue for certain types of accounts. My account is linked to a bank account and I've never been asked, for example.

amwldcoin · January 18, 2020 6:05AM

My 2nd account I opened is not. I did this because I was tired of waking up in the morning and paying for things when the default was set to my bank account. I would forget sometimes and go Oh Sh*t! 1 time I almost overdrew my account and that was the final straw as I never kept much money in my account tied to Paypal. All I had to do was open a Paypal Mastercard.

I still have no Bank account attached, Have never used the credit card which is expired, and my PP credit limit is approaching 5 figures. It's hard to turn down the use of free money! Some of the terms I've received are interest free for 24 months!

@derryb said:

@jmlanzaf said:

I wonder if it is only an issue for certain types of accounts. My account is linked to a bank account and I've never been asked, for example.

Aren't all PP accounts linked to a bank account?

dpoole · January 18, 2020 6:14AM

We're all familiar with scams wanting to acquire your vital info by getting you to click a link in an email. I haven't received this notice from PayPal, but I'd think they'd know better than to ask you to respond to the request by going through the email, rather than asking you go directly to your account.

AngryTurtle · January 18, 2020 6:19AM

To answer a couple of questions about my experience, I dont think I have ever sold anything on Paypal, and only ever occasionally bought things. My account was locked, and then I was asked for this information. I needed to file this information to have my account unlocked. This was a few years ago. Since I was never a big user, I have left my account that way, until recently, when I attempted to close my account but was informed by paypal that I could not close my account when it was locked!

Based on my experience, and the results of the poll (many have not had to provide this information), I think @jmlanzaf may have hit the nail on the head, as I have never linked my account to a bank, I have just used credit cards. @derryb, I just took a look at my account and as far as I can tell, its only linked to credit cards.

Texast · January 18, 2020 6:49AM

When I signed up in 2001 I was asked for verification before I could sell and collect through PayPal, not since then have they asked.

TwoSides2aCoin · January 18, 2020 7:50AM

I sent them my DNA via Twitter ( kidding).

BAJJERFAN · January 18, 2020 8:04AM

Don't recall getting such a request.

Maybe PP should set up a messaging system so all such requests can be handled internally without ever resorting to email.

TwoSides2aCoin · January 18, 2020 10:13AM

I know they got it right. It's on the 1099 they send me. I have to verify it's me every year, it seems. blush:

jmlanzaf · January 18, 2020 10:57AM

@BAJJERFAN said:
Don't recall getting such a request.

Maybe PP should set up a messaging system so all such requests can be handled internally without ever resorting to email.

They have one

ldhair · January 18, 2020 10:59AM

They were asking for this same information 20 years ago.

mark_dak · January 18, 2020 11:07AM

@amwldcoin said:
My 2nd account I opened is not. I did this because I was tired of waking up in the morning and paying for things when the default was set to my bank account. I would forget sometimes and go Oh Sh*t! 1 time I almost overdrew my account and that was the final straw as I never kept much money in my account tied to Paypal. All I had to do was open a Paypal Mastercard.

I still have no Bank account attached, Have never used the credit card which is expired, and my PP credit limit is approaching 5 figures. It's hard to turn down the use of free money! Some of the terms I've received are interest free for 24 months!

@derryb said:

@jmlanzaf said:

I wonder if it is only an issue for certain types of accounts. My account is linked to a bank account and I've never been asked, for example.

Aren't all PP accounts linked to a bank account?

My Paypal was linked to an old card I never used. It had expired years ago. I always request a paper check (Cost $1.50) if I want funds from Paypal. About 6 months ago I tried to get a check but couldn't get it mailed without a "Linked account". I tried everything and they had me sign up for a Paypal Cash Card as a linked account... still couldn't get a check mailed. After about 2 weeks of trying to get around linking an account i was about to give in and link a real account. Realized at midnight that night my credit union Visa was expiring and I hadn't activated the new one... Linked the old card that was valid for 6 or 7 more hours - Problem solved for now! If I didn't want a paper check I probably could have gone on without a valid account.

BAJJERFAN · January 18, 2020 1:01PM

@jmlanzaf said:

@BAJJERFAN said:
Don't recall getting such a request.

Maybe PP should set up a messaging system so all such requests can be handled internally without ever resorting to email.

They have one

I've yet to get an email from them saying that I have a message.

Walkerfan · January 18, 2020 1:14PM

I get a lot of junk mail from PayPal and from other places. I can’t tell the difference between the malicious requests and a legitimate ones, so I just ignore them all. If it’s something really important, then they will just have me contact them, directly, is my thinking. I still use the site with no problems.

jmlanzaf · January 18, 2020 2:44PM

@BAJJERFAN said:

@jmlanzaf said:

@BAJJERFAN said:
Don't recall getting such a request.

Maybe PP should set up a messaging system so all such requests can be handled internally without ever resorting to email.

They have one

I've yet to get an email from them saying that I have a message.

I assume you can set your preferences on what notifications you get.

amwldcoin · January 18, 2020 3:28PM

If I need money out of the non linked account I do a friends + family transfer to my other account.

@mark_dak said:

@amwldcoin said:
My 2nd account I opened is not. I did this because I was tired of waking up in the morning and paying for things when the default was set to my bank account. I would forget sometimes and go Oh Sh*t! 1 time I almost overdrew my account and that was the final straw as I never kept much money in my account tied to Paypal. All I had to do was open a Paypal Mastercard.

I still have no Bank account attached, Have never used the credit card which is expired, and my PP credit limit is approaching 5 figures. It's hard to turn down the use of free money! Some of the terms I've received are interest free for 24 months!

@derryb said:

@jmlanzaf said:

I wonder if it is only an issue for certain types of accounts. My account is linked to a bank account and I've never been asked, for example.

Aren't all PP accounts linked to a bank account?

My Paypal was linked to an old card I never used. It had expired years ago. I always request a paper check (Cost $1.50) if I want funds from Paypal. About 6 months ago I tried to get a check but couldn't get it mailed without a "Linked account". I tried everything and they had me sign up for a Paypal Cash Card as a linked account... still couldn't get a check mailed. After about 2 weeks of trying to get around linking an account i was about to give in and link a real account. Realized at midnight that night my credit union Visa was expiring and I hadn't activated the new one... Linked the old card that was valid for 6 or 7 more hours - Problem solved for now! If I didn't want a paper check I probably could have gone on without a valid account.

Poll: Has Paypal asked you for this information?

Poll: Has Paypal asked you for this information?

Poll: Has Paypal asked you for this information? 79 votes

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