PayPal changes

[DonB]

Have received a notification from PayPal of changes to cuctomer aggreement.

Among the items is this paragraph:-

 

“Please also note that:

 

a. you cannot send money for a PayPal personal transaction from some countries, including Germany or China; and

b. you cannot send personal transaction payments to Indian registered Accounts.â€

 

This will affect a (small?) number of members wishing to buy direct from the Chinese makers of scale figures and street/station lighting, and no doubt other items.

The German restriction is a puzzle to me!

 

Will not affect me, my PayPal account has been dormant for about 4 years!

[Oldddudders]

“Please also note that:

 

a. you cannot send money for a PayPal personal transaction from some countries, including Germany or China; and

b. you cannot send personal transaction payments to Indian registered Accounts.â€

 

I do wonder whether the word "personal" has a particular meaning? It is, after all, easily possible to pay someone for something outwith ebay using PayPal, and thus perhaps this has been recognised as a means of currency laundering - further 9/11 fallout.

[Kenton]

I do wonder whether the word "personal" has a particular meaning? It is, after all, easily possible to pay someone for something outwith ebay using PayPal, and thus perhaps this has been recognised as a means of currency laundering - further 9/11 fallout.

Not so sure. To get the money into Paypal you need a bank account. All banks now limit single transactions (eg £10,000) and the money once in a bank is already laundered. It is cash transactions that are the risk in terms of laundering. Paypal could also restrict the amount going through any account (maybe already do).

 

I would guess this has more to do with the way Paypal operates and recovers fees in those countries.

[hayfield]

Not so sure. To get the money into Paypal you need a bank account. All banks now limit single transactions (eg £10,000) and the money once in a bank is already laundered. It is cash transactions that are the risk in terms of laundering. Paypal could also restrict the amount going through any account (maybe already do).

 

I would guess this has more to do with the way Paypal operates and recovers fees in those countries.

 

I guess this is something to do with either internal currency laws or money laundering, just because money has been changed from cash into either an asset or bank account, is not the end of the process but the start. The next process is called layering, where money changes hands several times in legal transactions to disguise its origin

[Steve K]

Another change in the same communication says that you cannot use "personal" payments for any commercial transaction. In this context, I understand "personal" to mean the button that a lot of us on here click to keep Paypal's charges down...

[hollywoodfoundry]

In effect, PayPal is a bank. It is likely that PayPal could not negotiate an arrangement with a local bank in those countries.