@curiousjim I asked what the issue was on the first day, got no response. there is a lot of misunderstanding about this law and the OP seems to be among them.
PayPal imposed draconian security blocks AFTER I sold my unit
I have been relatively happy with PayPal for the small number of transactions I have made over the last 15 years or so. However, they overstepped the mark this last transaction - requiring about 6 forms of proof that I was not a business - culminating in a passport picture. Bank statements, enhanced drivers ID, receipt of sale, of original purchase were also needed, including confirmation that I have no stock room or store.
i called their live support Sunday and was offered some hope that they could see past the AI and see the simple history of a hobbyist. Not to be, I gave them their pound of flesh so I could get my money transferred to my bank. If they had notified me when listing I would have not used PayPal. Moving forward I will refrain from using PayPal unless absolutely necessary. It amounted to cyber blackmail.
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@curiousjim Never done your own taxes, eh? A w-4 is the form you fill out to tell your employer how much income taxes to withhold from your paycheck. Perhaps you meant w-2. that would be wrong too. a w-2 if for earned income, not sales. When you sell an asses (such as a stock) you will get a 1099. the law changed requiring paypal to send you a 1099-k if you sell more than $600 worth. If the OP was surprised by this, he must have been living under a rock. Thus most of us don't prefer paypal any more. But it isn't paypal's fault, it is congress. Now getting a 1099 doesn't mean you pay taxes on your sales. You just have to put it on schedule D. You also enter what you paid for it. Hardly ever do you make a profit on stereo equipment so you'll show a loss. So that's a win right? Now you get to write off your losses on stereo equipment. We all wish. They tax you on profits but you can't write off losses (unless you are a business). So if the OP does get declared a business, he can write off his losses. But paypal does't decide if you are a business or not. They just send you a 1099. Finally, I am not an accountant. I'm a physicist who does his own taxes and I wrote all this from memory to validate anything this says before using it on your taxes. Jerry |
I will agree with @glennewdick that the Canadian banking system is far more easier on the end user. I recently purchased an item from a resident of Quebec (I’m an American). He offered free shipping in Canada and asked for ‘Electronic Funds Transfer’ a service US banks don’t provide. Long story short, I had to pay a 3-6% fee to PayPal and wait a week for it to clear. The whole experience was a bit frustrating, but I got a relatively good deal on the equipment. |
It don't even matter, soon enough Canada is going to become the 51st state. Or Canadians would prefer to become Chinese province ? Their call. No, no other choices, don't fool yourselves. Wait until AI is more actively implemented, both in the US and Canada. When money is in the bank it's no longer your money in the full sense of it. Dark ages are coming. |
You know who else is doing this? Facebook. They want all that kind of info (Including driver license). Needless to say, I told FB where they can put it. Also...this site is getting to be more trouble than it’s worth, with the silly "checking you connection" nonsense. And it logged me out for no reason and locked me out after 2 log in attempts., Had to reset name and password. But at least once you get in, the site is slow and clunky. So, there’s that. |
czarivey " Canadian bank system is even more dangerous than paypal. Canadian government can freeze your funds there bye bye for reason or no reason and it happened already before." That is incorrect the government cannot freeze your funds anymore easily then the US gov can to US bank accounts. Canadian Banks are also regulated much more then your banks and insured by the Government. I'll take Canadian bank system over just about any other countries. Our debit system alone is far ahead of anything you have as well. |
@glennewdick Canadian bank system is even more dangerous than paypal. Canadian government can freeze your funds there bye bye for reason or no reason and it happened already before.
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You Americans need to move to the Electronic Transfer system like the Canadian banks use. I never have to deal with PayPal when moving money from myself to a buyer or the other way, if Canadian banks are used. its literally a step in the bank app to send money to someone via a phone number or email address. and if both parties have signed up to auto deposit the receiver wont have to do anything, its deposited directly into their bank. No fees and bank level security / insurance. Why you are still using PayPal is beyond me, probably someone lobbied for PayPal lol. |
Credit cards are now doing the same thing. Welcome to the wonderful of cyber crime and prevention. I needed 4 forms of ID to use a credit card from a bank I’ve used for years. They don’t tell you upfront, only when you try to use the card for the first time. I went through the same issue with PP as well after years of much use including high dollar transactions etc. if you haven’t used the system for some time and a purchase/sale gets flagged it’s hoop time. If you use PP regularly it won’t happen. It will also flag you if the item you sell or buy is out of the “norm” in any way. |
I suggest you contact law enforcement and explain the situation of forcing to share an excessive personal information in order to receive funds belonging to you. I think feds bite cyber-blackmailing. It could be coming from person (employee) handling your case within PayPal. You should ask to speak to supervisor and copy every piece of your WRITTEN conversation. |
I agree! I no longer use PayPal because when I got a new phone and number in March they wouldn't let me access my account without draconian proof of who I am! Required was a screenshot of my State Photo ID card - which was then 7 years old and a screenshot of my face. Due to age the two pictures no longer matched and the PayPal AI kept rejecting me despite several attempts. After years of trouble-free use of PayPal I have switched to Cash app. |
