I’m wondering if anyone else has run up against this:

In case this is relevant-
1. I sold a watch recently and received payment through PayPal
2. I updated my PP app at the same time

The problem - when I tried to withdraw the funds from my account I got a message saying that I needed to update my personal information before I do this. I was then asked- over four pages - for a complete bank of personal information that included bank details, card details including security code from the back of the card, SSN, address.... it went on and on.

No way was I giving all this information up to an app so I backed out and did some reading. Turns out that there has been a phishing email doing the rounds, and when you ‘click on the link’ you are asked for the same battery of personal info. But I came across it while using the app.

Further reading suggests that PayPal are now indeed asking for this amount of personal information to enable the user to use basic PP functions. Some are reporting that because they will not provide PP this info their accounts are now holding money they can’t access. For now, that seems to be the situation I’m in.

I’m sharing this here because I think that many of you probably buy and sell using PayPal. I’m obviously going to have to investigate further then deal with PayPal direct. But has anyone else had this experience, or have any idea why PayPal should suddenly gone down this route?

Thanks

I have been able to speak to PayPal staff on occasion, and they have been very helpful. Try contacting them.

Maybe this is similar to eBay. I haven't sold on eBay for a while, but I think they need all these details now, in order to send you money as well.

** Edit - @missF I thought you were simply facing what I did last year, but your situation is different to mine. I’ve left my experience below, which represents a legitimate process albeit a bit unnerving,

EBay introduced a direct payment process (which saves you the 4-5% PayPal fees), but they need to authenticate your bank details. It happened to me and I had a chunk of cash held up while I got it all sorted out.

I was very nervous about it (upload an interacted bank statement to a spurious website - No thanks!), but I established that the link they sent me to complete the details was on the same domain as the eBay customer services website. I discovered later that eBay had sent me a couple of messages asking me to authenticate my details, but I had ignored them at the time…..

At the time I might have posted out my experience here. Let me see if I can find the details.

I sold a watch a couple of weeks ago and was paid via PayPal. I don’t use the app but go through the website and had no issues. Maybe try using the website instead and see if that works?

I just received a PPal phishing text last night. Typical poorly worded letter with an embedded link. Went straight to the trash bin. I did make my last watch purchase with PPal, the Citizen chrono, guess it’s been a month now. Nothing different.

Not sure if you've already gone down the route of logging on directly to Paypal.com on a PC rather than the app- the facilities and easy of use of a website are often better thought through and easy to use vice using an app and it might be easier to figure out what's going on with the payment and what's preventing you accessing it.

Thanks everyone. I just tried to buy something through PayPal and it was refused. It said’contact us’ but I haven’t the concentration to follow it up this evening.

I have tried going through the website but hit the same dead end.

It may well be that I have missed a prompt to do a similar personal information upgrade on eBay so will look into that.

I was just a bit horrified at just how much personal information they want to store and wanted to check it out. The other thing is that I’m so rubbish at keeping phones, operating systems, apps, connectivity up to date that it never really surprises me to find that I’m in trouble somewhere along the line because I ignored all letters and warnings!

I gather I should check my PP as I’ve not used it in some time. I did encounter something like this using Chrono24. The EU tax code was updated (I verified independently) and Chrono needed to retain SSN information for tax reporting. I don’t like it but I did provide the info.

I have hit a similar issue tonight.
I have received @ £200 payment less £6.10 fees and advised that my payment is pending for 21 days???
It goes on to explain that to speed payment up in future I either need to make upto 5 payments or a payment of £200?????


Is this because the seller has paid 'service' rather than 'friends and family' perhaps??

Tonywalker wrote: ↑Sat Apr 29, 2023 11:46 pm Is this because the seller has paid 'service' rather than 'friends and family' perhaps??

Yeah we did the sale this way rather than F+F. But I don’t think that’s the reason I’m being asked for more ID.
I have a notification from PP saying that due to European banking regulations I have received over some set amount and therefore need to provide further ID to identify myself.

I think that as @thomcat00 said, I don’t have to like this but I do have to do it... However, from what I’m reading about other people’s experiences this is something that’s troubling a lot of people, and there’s no clear guidance from PP about why this happens, and no reassurance as to why it’s necessary. And I think that this lack of clarity and reassurance is where there’s space for phishing emails to creep in.

missF wrote: ↑Sat Apr 29, 2023 2:15 pm No way was I giving all this information up to an app

Paypal isn't just 'an app' though, it's a regulated bank and therefore has to comply with UK money laundering regulations (in this case) - it's absolutely normal to be asked for this information (but as you rightly point out, be very suspicious of emails and links asking for this kind of information!) It could be the value of the withdrawal or recent trades have triggered the request.

If it's within the app you're being asked then the likelihood is you're safe, but if you're unsure contact them via either phone or live chat.

Thanks @Stif - that’s the info I was looking for. I guess I trivialise how ‘simple’ it is for me to do transactions online with total strangers! But each transaction requires that I place faith in an organisation‘S ability to keep me safe. They in return need to be able to action that faith.

Thanks everyone for your input

I’ve had issues with large transactions from my bank account. Last year I ordered new windows and doors. The invoice for the deposit arrived when I was in Greece – tried to pay the deposit on my banking app and they shut down my cards. I got a blitz of emails and texts to call the bank. I had to spend 30 minutes on the phone with the bank’s fraud department to convince them I knew the person I was trying to pay. Peace of mind in the end, though, so probably worth it.

I haven’t had the same problem as you @missF but I have experienced an attempted scam, a request for payment via PayPal. It was for £879.99 GBP to TotalAV. A quick glance and I could have easily had mistaken the sum as legitimate as the account used is very similar to one that I have made payments to in the past. Someone had tried to be clever by hacking into my account and selecting a payment I had made in the past.

PayPal opened an investigation and promised to get back to me within 10 days but never did. I changed all my passwords and security questions. Rather giving them my bank details I linked future transactions to my Amex account. Since I’ve had no other issues but my confidence in PayPal’s security is dented.

Amor Vincit Omnia wrote: ↑Sun Apr 30, 2023 9:43 am I had to spend 30 minutes on the phone with the bank’s fraud department to convince them I knew the person I was trying to pay.

I had my account frozen first time I tried to pay for an expensive watch! I was terrified! And it’s even more scary when the fraud guy on the line has a scary Scottish accent like a kind of chain smoking Bond bad guy