PayPal

[countrygirl12]

Have not heard anything about this and I use paypal.

Do you read the emails they send you?

[countrygirl12]

I received another notice today. Got on live chat and was more confused than ever.  This is going to happen on the 30th.

I called and spoke with a real live person and from what I understand if all you use PP for is to receive payments from sites like this and then transfer it to your bank account you will not have to do anything. But who knows.
PP is prompting me to set up a cash account.  I guess I will wait and see what happens.

[1imaginarygirl]

I don't think this is going to be a big deal. I signed up for the Cash account. I had to verify my name, address, last 4 of my ssn, etc. Then it went over various fees, mostly $0 anyway. Then it sent me back to my account summary and said welcome to your new Cash account. Everything else looks exactly the same as before.

[countrygirl12]

I don't think this is going to be a big deal. I signed up for the Cash account. I had to verify my name, address, last 4 of my ssn, etc. Then it went over various fees, mostly $0 anyway. Then it sent me back to my account summary and said welcome to your new Cash account. Everything else looks exactly the same as before.

See I would not have done that. PayPal does not have my social security number.  It is connected to my bank account.  When I talked to them today she said if you do not pay with PP or want to use it to do a bunch of stuff I have never done I can stay like I am.  I may start transferring more quickly.  I just hate to do that when I know in a couple days another deposit will hit the PP account.  I usually wait until I get a little more in there.

But then they say you can't hold a balance so I still won't know until in May when it happens how it will work.  Because say when FC makes a deposit to PP I may not immediately see it.  And all I can talk to are yay-hoos in another country that have a language barrier.

[1imaginarygirl]

I don't think this is going to be a big deal. I signed up for the Cash account. I had to verify my name, address, last 4 of my ssn, etc. Then it went over various fees, mostly $0 anyway. Then it sent me back to my account summary and said welcome to your new Cash account. Everything else looks exactly the same as before.

See I would not have done that. PayPal does not have my social security number.  It is connected to my bank account.  When I talked to them today she said if you do not pay with PP or want to use it to do a bunch of stuff I have never done I can stay like I am.  I may start transferring more quickly.  I just hate to do that when I know in a couple days another deposit will hit the PP account.  I usually wait until I get a little more in there.

But then they say you can't hold a balance so I still won't know until in May when it happens how it will work.  Because say when FC makes a deposit to PP I may not immediately see it.  And all I can talk to are yay-hoos in another country that have a language barrier.

I believe you only need to give them your SSN if you are selling, for the IRS reporting/1099 thing. If you are just using it to buy or receive money, I don't think you have to provide your SSN.

Edit: They have my SSN from ages ago when I sold some stuff on ebay, I believe.

[Mizzkizz7]

I haven't heard anything about Paypal.

[pstovall]

This is the first I've heard of this. If I got an email, I didn't see it.  It sounds very complicated and I will have to have a day with plenty of time to sit and try to figure out what's happening.  I'm thankful for the heads up with this thread. I pay three subscriptions straight from my PayPal account each month, so don't really understand if I can continue to do this.  Guess I will find out.  Live and learn!

[MichelleHW101]

I think (basically) first off they are going to increase the charges for when you send money from your account to someone else’s Paypal account, and that charge is based on the amount sent and where it is going.  I think (basically) the second part is if you want to have a balance (money you can use to transfer/buy things) you need a balance (i.e. money) account Paypal will honor which will link with your Paypal account.  I don’t know if they will still honor a Paypal balance linked to a regular bank account that doesn’t say.  What it does say is they offer two accounts they will honor and that is PayPal Cash and PayPal Cash Plus.  Honestly, I think the safest thing to do is to continue like normal and if you hit a wall contact Paypal and see if someone from their company can help you.     

[countrygirl12]

This is the first I've heard of this. If I got an email, I didn't see it.  It sounds very complicated and I will have to have a day with plenty of time to sit and try to figure out what's happening.  I'm thankful for the heads up with this thread. I pay three subscriptions straight from my PayPal account each month, so don't really understand if I can continue to do this.  Guess I will find out.  Live and learn!

Have you logged in to PayPal recently? This is going to happen in a couple days. The change is the last day of the month.  When I logged in yesterday there was a prompt asking me to set up a cash account. Someone else stated they had to give their social security number.  NO.  But from what I understand if you just receive payments and then transfer it to your bank you should not have to do anything but we won't know for sure until after it happens because the majority of people who work for companies don't have a clue either.

[countrygirl12]

I think (basically) first off they are going to increase the charges for when you send money from your account to someone else’s Paypal account, and that charge is based on the amount sent and where it is going.  I think (basically) the second part is if you want to have a balance (money you can use to transfer/buy things) you need a balance (i.e. money) account Paypal will honor which will link with your Paypal account.  I don’t know if they will still honor a Paypal balance linked to a regular bank account that doesn’t say.  What it does say is they offer two accounts they will honor and that is PayPal Cash and PayPal Cash Plus.  Honestly, I think the safest thing to do is to continue like normal and if you hit a wall contact Paypal and see if someone from their company can help you.     

There are still no charges to transfer to your bank account or from PP to PP.  I have never used PP to pay for things so this won't effect me.  It is confusing and mostly because even when you speak on the phone with a person they cannot answer you in plain English.  Stop say "balance and hold account".  I don't know what that means.  Tell me what that means. And I get more mumbo jumbo that I don't understand.  So like you said, I guess we will wait and see.  I am suppose to receive a high deposit on the 30th. I need to transfer it before this happens so I can't accidentally lose my money some how.

[sbenkoski]

My account set up a pay pal plus account all by its self , and i believe this is about people with fake acounts under fake names not hooked up to banks , that they can't prove who they are ...   thats my guess !   

[CJ555]

OK so I just read through all 4 pages and honestly I am still a little confused!!
But long story short I have a balance in there as of now,....and although I "do not remember" setting up a different PP account, under my balance it says this " Available in your PayPal Cash Plus account".
So I assume I already have a PP Cash PLUS account. Not sure what that exactly means but am I good to go now and can keep the balance AND any future payments there and continue on like normal?!!! FWIW I did not sign in to a different account,...just my typical sign in to PP and that's the screen I got!
Please feel free to chime in if you have a definite correct answer!
Thanks!

[countrygirl12]

My account set up a pay pal plus account all by its self , and i believe this is about people with fake acounts under fake names not hooked up to banks , that they can't prove who they are ...   thats my guess !   

I did read something about it auto setting up something for you.  Also there was something about accounts, not necessarily fake, but that are not connected to a bank account.  I actually have 2 PayPal accounts.  Neither is fake but only one is connected to a bank account.

[countrygirl12]

OK so I just read through all 4 pages and honestly I am still a little confused!!
But long story short I have a balance in there as of now,....and although I "do not remember" setting up a different PP account, under my balance it says this " Available in your PayPal Cash Plus account".
So I assume I already have a PP Cash PLUS account. Not sure what that exactly means but am I good to go now and can keep the balance AND any future payments there and continue on like normal?!!! FWIW I did not sign in to a different account,...just my typical sign in to PP and that's the screen I got!
Please feel free to chime in if you have a definite correct answer!
Thanks!

Nobody will have a def answer until after it happens. haha

I need to log in and see if it says I have that cash account thing.

[elvisdo]

OK so I just read through all 4 pages and honestly I am still a little confused!!
But long story short I have a balance in there as of now,....and although I "do not remember" setting up a different PP account, under my balance it says this " Available in your PayPal Cash Plus account".
So I assume I already have a PP Cash PLUS account. Not sure what that exactly means but am I good to go now and can keep the balance AND any future payments there and continue on like normal?!!! FWIW I did not sign in to a different account,...just my typical sign in to PP and that's the screen I got!
Please feel free to chime in if you have a definite correct answer!
Thanks!

I was going to post something similar. I also have a PayPal Cash Plus account but this requires giving the last 4-digits of your SS# in order to secure it. I know there are some who don't want to do that.