Paypal Policy Update (effective Oct 31, 2022)

[calgal99]

Hey, all. I just got an email from PP, and went and read it (lol.) So, per the new policy, "U.S. PayPal accounts will not be able to send personal transactions to business accounts outside the U.S. starting October 31, 2022." I think this is kind of a Big Deal. And I'm going to cross-post this in a couple of places so it gets wide view. Also, I'm copying @Mods so hopefully everyone who's using PP now, will find out about this. IMO, this is not a good thing, and may be very disruptive. Ptui!

 

[Selfhelp]

This is a very big deal for many businesses. It looks like PayPal users will still be able to send to "friends and family" though. I wonder how long it will be before that isn't allowed either...

 

[Gullible]

When paypal first came out they pledged that it would be free forever to all users. We should have gotten it in writing

 

[BNOR1]

I’m new to this forum but I also read that email and the Friends and Family is how I got scammed this last time. I’m not going to do that again but I don’t get the crypto. Seems to me that it’s complicated and unstable. Is there anything else out there besides PayPal and Cryto? Help

 

[Snoopz]

wow there really making this a pain in the bummer doing this whole transfer money across the water im glad most of the places i order from still take acceptable payment methods but its getting harder and the irs will be cracking down more on crypto currency in the future i think so anyway more tracking your purchaes stuff like that were all gonna have to start stock piling now before it gets worse i think anyway

 

[mallaidh]

Gotta give those new IRS agents something to do

 

[heavymetalviolet]

Oh man, this is bad. I've used PayPal many a time, and while most of my "blends" are domestically produced and sent Friends and Family, added scrutiny on those is NOT something I desire, and I do also use it from time to time for people who are not in the US as well. While I got scammed once on Friends and Family as well (ironically, by a person who WAS a friend!), I'm more concerned about the IRS poking around in my transactions even more so than they already do. Bastards. Kills me that they wanna go after some little middle class nobody who just wants to buy something here and there while millionaires get to do as they please AND get IRS tax breaks for doing it. SMH.

 

[Taizen1992]

Most transactions I do end up being friends and family anyway so the seller doesn't get their account suspended/banned. You're already doing something questionably legal, so you really have to make sure you have a trusted seller.

 

[Taizen1992]

It definitely sucks. My vendors use Western Union, but I'm sure there will be a point at which this change bites me in the ass.

 

[Santa's little helper]

@calgal99 , any news on PP Canada

 

[BNOR1]

@ToadLix
I hear what you’re saying and I agree completely. I need to find some reputable sources and start slowly stocking up. The reliable sources are the problem for me. I try to do as much researching as I can do but that was before finding this forum.

 

[BNOR1]

@heavymetalviolet
Amen! I agree completely. What will be next? Any ideas? I would like to hear what some Seniors think about the way future transactions may look like. What the new E commerce platforms and payment process may look like. Thanks

 

[Taizen1992]

@BNOR1 I would expect to get used to using either Western Union or bitcoin at all times.

 

[mallaidh]

Big brother is watching Venmo and PayPal. Can't split the bill at restaurants or tip the girl who does your nails anymore. It was so easy and now the government is taking away just one more freedom. One more convenience. They decide what is convenient. It's like they're pushing everyone to BItcoin to keep us all in one spot and then find a way to control that too.

 

[heavymetalviolet]

Big brother is watching Venmo and PayPal. Can't split the bill at restaurants or tip the girl who does your nails anymore. It was so easy and now the government is taking away just one more freedom. One more convenience. They decide what is convenient. It's like they're pushing everyone to BItcoin to keep us all in one spot and then find a way to control that too.

And my problem is I cannot understand or figure out Bitcoin to save my arse. I've tried, and it may as well be written in Swahili. NO idea how to make it go. So if that's where things end up, I am going to be in deep water indeed. I may end up moving back to street vendors, which are incredibly dangerous in my area to put it mildly.

 

[NSnoozer]

were all gonna have to start stock piling now before it gets worse i think anyway

I agree 💯 👍

 

[Snoopz]

@ToadLix
I hear what you’re saying and I agree completely. I need to find some reputable sources and start slowly stocking up. The reliable sources are the problem for me. I try to do as much researching as I can do but that was before finding this forum.

must research alot and then cross reference your research using the other forums and make sure everything is adding up i just got a sizeable order in over this past week thank golly too was heckin nervous testing a new source but i triple checked all of the forums and all of the information suggested it was the right vendor to use and as others posted about 3 weeks later i got my package now i will only order what i know i will need to save for the future instead of having to worry about ordering what i need 2 weeks from now

 

[Snoopz]

@ToadLix
I hear what you’re saying and I agree completely. I need to find some reputable sources and start slowly stocking up. The reliable sources are the problem for me. I try to do as much researching as I can do but that was before finding this forum.

must research alot and then cross reference your research using the other forums and make sure everything is adding up i just got a sizeable order in over this past week thank golly too was heckin nervous testing a new source but i triple checked all of the forums and all of the information suggested it was the right vendor to use and as others posted about 3 weeks later i got my package now i will only order what i know i will need to save for the future instead of having to worry about ordering what i need 2 weeks from now

 

[calgal99]

Oh, yeah, about sending via "Friends & Family," PP is *now* charging fees to business accounts for that - https://www.theverge.com/2022/7/1/23191214/paypal-friends-and-family-payments-business-accounts

 

[mallaidh]

Oh, yeah, about sending via "Friends & Family," PP is *now* charging fees to business accounts for that - https://www.theverge.com/2022/7/1/23191214/paypal-friends-and-family-payments-business-accounts

All BS to control the masses. When I book an airbnb, I get my friends/family to Venmo or Paypal their share. Sometimes it's a big amount. I Venmo the guy who runs my fantasy football league. He gets lots and lots of $100 transactions. How and who identifies personal vs business? Oh, yah. The government. Those new armed IRS agents will be going after me for booking vacations and my brother in law who runs fantasy football. They need to leave us the hell alone. I give cash to the neighborhood kid who shovels my sidewalk. Should I turn him in?