PayPal

[countrygirl12]

I am sure a lot of you are using PayPal as your method of payment.  If so I am sure you are receiving the emails about the coming changes.

Do any of you who use PayPal understand and can tell me in PLAIN ENGLISH what the crap is fixing to happen?  I do not know what a "balance and hold" account is.  I have talked to 3 customer service people who do not seem to have a clue.

One thing seemed to say that a balance and hold account will be made for you and connected to your account.  I am just trying to understand if I will still get paid the same way and then transfer to my bank the same way.

One customer service agent told me you would have to "accept" when payments are sent to you and then it will immediately transfer to your bank.

Another told me when payments are made it will be immediately transfer to your bank and you do nothing.

A third told me the emails are a hoax and to ignore them.   

[sfreeman8]

I've gotten 2 emails from them and still haven't had a chance to go to the site (I won't click on anything in the email). One is an update on the policy and another was the one you're talking about. Thanks for reminding me to look at these changes! I better do it now. 

[NRAJOE]

I haven't got anything from them.
I did notice if you want your money quicker you now have the option to pay them 1% of your balance and it will go to your bank account immediately....did it once and it went smoothly...

[ngorecki]

I haven't heard anything about this.

[countrygirl12]

I've gotten 2 emails from them and still haven't had a chance to go to the site (I won't click on anything in the email). One is an update on the policy and another was the one you're talking about. Thanks for reminding me to look at these changes! I better do it now. 

It is safe to click the link. It IS from PayPal. I just do not exactly understand what is happening. You either do nothing and accept the changes or you close your account.  I am just not sure what is fixing to happen.

[catchow]

countrygirl12 I too have received these emails!

The new updates are on thier Policies Update page

https://www.paypal.com/us/webapps/mpp/ua/upcoming-policies-full

[debidoo]

Wow I don't know anything about this nor have I heard anything about this.  I just hope Paypal isn't going to change in a negative way because it has always been a great way to get your money for PTC sites although none of my sites are doing very good right now so most of all I am hoping we aren't going to have a PTC crash because I don't earn much but what I do earn really helps me a lot.

[oldbuddy]

I plan to just make sure I don't have more than a hundred or two in there at any time, so if problems occur like last month the risk is lower. They froze my main account and I still have 5 months to wait for the $500 I have in there.

[dancer139]

I have never heard anything about a pay pal change.  I guess I should go and see what is going on.  I receive money in pay pal all the time and no one has sent my anythng about a change.

[countrygirl12]

countrygirl12 I too have received these emails!

The new updates are on thier Policies Update page

https://www.paypal.com/us/webapps/mpp/ua/upcoming-policies-full

I have read the updates. I do not understand what they mean.  That was my question.

This doesn't make sense to me.

[countrygirl12]

I plan to just make sure I don't have more than a hundred or two in there at any time, so if problems occur like last month the risk is lower. They froze my main account and I still have 5 months to wait for the $500 I have in there.

Well when this changes you won't have any in there.  You will not be able to hold money in your Pay Pal account.

WHY would PP freeze your account?

[BATISTAGIRL663]

I’m just going to use PayPal like I normally do and see if I notice any changes if not no big deal I read over the paper to and it didn’t make any sense to me either so I’m just gonna try to do the normal thing and see if there are any changes that I Notice

[rghvac69]

I found this on the pay pal page. I don't know if it helps explain things, but I copied and pasted it anyways.

Policy Updates

This page displays policy updates informing users in advance of important changes to the PayPal service, its User Agreement, or other policies. Please go to “Past Policy Updates” for previous policy updates.

 

AMENDMENTS TO THE PAYPAL ACCOUNT USER AGREEMENT
We are updating the PayPal Account User Agreement for U.S. customers. These changes will go into effect on May 7, 2019. If you agree to these changes, you don’t have to do anything. If you don’t agree with these changes, you may close your account. If you close your account before May 7, 2019, the changes will not apply to you.

 

Amendments to the PayPal Account User Agreement

We’re removing the flat rate pricing for sending money to friends and family members who have PayPal accounts in a country other than the United States and introducing a new variable fee of 5% based on the amount you send with a minimum of $0.99 and a maximum of $4.99 per transaction. We’re also removing any variation depending on the recipient’s country.
We are changing the currency conversion spread to 3.25% over a base exchange rate in situations where you are a sender of money in a PayPal transaction.
We’re changing how we treat refunds. If you refund (partially or fully) a transaction to a buyer or a donation to a donor, there are no fees to make the refund, but the fees you originally paid as the seller will not be returned to you.
 

AMENDMENTS TO THE PAYPAL USER AGREEMENT AND THE ELECTRONIC COMMUNICATIONS DELIVERY POLICY
We are updating the PayPal Account User Agreement and the Electronic Communications Delivery Policy. These changes will go into effect on March 29, 2019 and apply to U.S. PayPal customers. If you agree to these changes, you don’t have to do anything. If you don’t agree with these changes, you may close your account. If you close your account before March 29, 2019, the changes will not apply to you.

 

Amendments to the PayPal User Agreement for Personal PayPal Accounts

As a result of a new regulation issued by the Consumer Financial Protection Bureau in Washington, D.C. coming into effect on April 1, 2019, we are making some changes that will affect consumers who want to hold and use balance with PayPal.

If you want to hold and use balance, you will need a balance account which will be linked to your current PayPal account. PayPal will offer two balance accounts: PayPal Cash and PayPal Cash Plus. Information about both types of balance accounts can be found in the PayPal Cash and PayPal Cash Plus Terms and Conditions.

If you are an existing personal PayPal account holder and we have already verified your identity, we will establish and automatically link a PayPal Cash Plus account to your current PayPal account. Information about your PayPal Cash Plus account, including your balance amount, will be easily available using your existing PayPal login.

For all other consumer PayPal account holders, if you want to hold and use balance, in addition to verifying your identity with PayPal, you will need set up a balance account which will be linked to your current PayPal account.
There are no changes to any PayPal fees.
We are also making two other changes: (1) we are changing the time period for providing you with advance notice about important changes to the PayPal Account User Agreement to at least 21 days; and (2) we are clarifying how and when we convert currency.
 

Amendments to the PayPal User Agreement for Business Accounts

We are changing the time period for providing you with notice about important changes to the PayPal Account User Agreements to at least 5 days.
We are clarifying how and when we convert currency.
 

Amendments to the Electronic Communications Delivery Policy

We are updating our Electronic Communications Delivery Policy to clarify that your consent to receive electronic disclosures under our Electronic Communications Delivery Policy applies to all PayPal branded accounts

[countrygirl12]

I’m just going to use PayPal like I normally do and see if I notice any changes if not no big deal I read over the paper to and it didn’t make any sense to me either so I’m just gonna try to do the normal thing and see if there are any changes that I Notice

lol Well thank you. At least it isn't just me that doesn't think it makes any sense. And like I said, I have contacted 3 customer service agents and they don't seem to know anything either.

[countrygirl12]

rghvac69 - I have read this.   IT DOES NOT MAKE SENSE.  Did you read my OP.  I do not know what a hold and balance account is.  This does not make sense.  Am I suppose to open some other account to connect to PP?  Are they going to do this for me?  Will I still be able to get paid and then transfer the money to my bank account?

Like batgirl said - Just wait and see if anything changes.  When it gets closer to the time for this to happen I need to make sure there is no money in there and then transfer a small amount to see what happens.  They are very unclear.