Reply to post: Re: Fuck Paypal

New PayPal T&Cs prevents sellers trash-talking PayPal

paulf
Pirate

Re: Fuck Paypal

@johnfbw "Most of that is because they need to do it by law for anti-money laundering regulations. Three pieces is excessive, but nothing more than your average bank would request."

Sorry, I call bollocks on that. They're not a bank as they make clear time and again when they do what they want and users can't hold them to account like they can with a bank. You can only put money in via a Credit card or a bank account and those methods will have fully vetted your ID before opening your account. You can only get money out via a bank account.

Paypal are a payment processing service, acting as an intermediary and nothing more, and they're certainly not a bank account. It'd be like Apple or Google demanding your passport and birth certificate to use Apple Pay or Google/Android pay (which simply acts as an intermediary between card issuer and merchant account).

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