$2500 for "misinformation". Havent looked into it yet as i dont use them.

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they are claiming it was a proposed change that got accidentally released
goalpost moved...

$2500 for "misinformation". Havent looked into it yet as i dont use them.

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PayPal Pulls Back, Says It Won’t Fine Customers
$2,500 for ‘Misinformation’ after Backlash

PayPal has backtracked on a published policy that would have fined users $2,500
for spreading “misinformation,” claiming the update had gone out “in error.”

“An AUP notice recently went out in error that included incorrect information. PayPal
is not fining people for misinformation and this language was never intended to be
inserted in our policy. Our teams are working to correct our policy pages. We’re sorry
for the confusion this has caused,” a spokesperson told National Review in a written
statement.

The new conditions were scheduled to be added to the restricted activity section of the
PayPal User agreement effective November 3, the Daily Wire first reported. Changes
included prohibitions on “the sending, posting, or publication of any messages, content,
or materials” that “promote misinformation.” While the prior policy already forbade “hate,”
“intolerance,” and discrimination, the new one would have explicitly applied to specific
“protected groups” and “individuals or groups based on protected characteristics.”
Identities under this umbrella included race, religion, gender or gender identity, and sexual
orientation.

The firm’s current rulebook doesn’t list these terms. It’s unclear whether PayPal will also
pull back these specific prohibitions on “discriminatory” language, or if it is only scrubbing
the “misinformation” clause.

https://news.yahoo.com/paypal-policy-permits-company-fine-143946902.html

I keep a zero balance in my PayPal account.  They are not a bank, so if I receive money, I withdraw it into my real bank account ASAP.  Purchases are funded with a charge card, to provide another layer of buyer protection.

I used it mainly for eBay auctions.  Now it's more like a buffer between online retailers that accept PayPal and my credit cards, so I never have to give my financial info to the retailers directly.  I pay PayPal, they pay the sellers.

The fewer people with my credit card info, the better.

I wonder how enforceable a fine is? Not like they the gov.

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PayPal Pulls Back, Says It Won’t Fine Customers
$2,500 for ‘Misinformation’ after Backlash
https://news.yahoo.com/paypal-policy-permits-company-fine-143946902.html

I keep a zero balance in my PayPal account.  They are not a bank, so if I receive money, I withdraw it into my real bank account ASAP.  Purchases are funded with a charge card, to provide another layer of buyer protection.

I used it mainly for eBay auctions.  Now it's more like a buffer between online retailers that accept PayPal and my credit cards, so I never have to give my financial info to the retailers directly.  I pay PayPal, they pay the sellers.

The fewer people with my credit card info, the better.

"Purchases are funded with a charge card, to provide another layer of buyer protection."
That is the only way I use paypal.
 

I wonder how enforceable a fine is? Not like they the gov.

If what they do isn't illegal, and you agree to their terms of service, you're pretty much voluntarily giving them your money -- and at their subjective discretion.  That's if the new policy had remained.

My question would be, if they charge your account, and that in turn is tied to a bank account -- as I believe all accounts are -- they would be making a withdrawal transaction without your approval.  When enough of those transactions come back declined for insufficient funds, all hell would break loose.  People getting hit with NSF fees left and right would prompt a slew of lawsuits, particularly if they did it without ample advance notice to the customer.

Imagine if you get a traffic ticket, and the next day following your court date the fine is electronically withdrawn from your bank?  You didn't PAY your fine.  The Government SEIZED your money.

It’s part of the Frog Boil

They float these ideas out there to see if anyone notices

If it gets resistance they pull it back and then try to sneak it by later during some sort of crisis when nobody is paying attention

If you head over to the wallstreetsilver group on reddit, its an ongoing thing right now with people canceling their PayPal acct. Btw venmo is a PayPal asset so you might as well dump them while you are at it.
https://www.reddit.com/r/Wallstreetsilver
Reddit is a commie shit hole but there are a few subs I can read with out contracting aids.

they are claiming it was a proposed change that got accidentally released
goalpost moved...

Funny how they can accidentally type a whole policy.

Funny how they can accidentally type a whole policy.

"Released".

FIFY

Funny how they can accidentally input all the coding needed to upload an entire new policy. Like the button pusher alert guy.

anyone bought primers with Paypal?

This story makes way too much sense.  I realize it's "anecdotal," but he does bring receipts.  He has the emails (purportedly) which show how PayPal is delaying time after time his request to withdraw HIS OWN MONEY from HIS OWN PAYPAL ACCOUNT to HIS OWN ASSOCIATED BANK ACCOUNT which has been perfectly fine for 15 years.

I think his conclusions are common sense.  PP has no other reason for delaying his withdrawal than the likelihood they simply don't have the liquidity to allow a large number of users to withdraw their funds at the same time -- kind of a Ponzi Scheme where one account holder makes a deposit/sale, and that cash is used to fund another account holder's withdrawal/purchase.

If PP is experiencing a cash flow problem, it's a red flag that you should take any cash out of your PayPal "wallet" and only use your bank or credit card account to fund purchases while immediately withdrawing any cash that gets deposited from sales (like selling something on eBay).

The $2,500 fine appears, in the YT video maker's opinion, to have been an attempt to generate revenue as opposed to actually policing free speech.  It's an indication of how desperately PP is needing income.  Alienating thousands of people with the announcement of the "Oops! That was a mistake" fine policy didn't help, and many people rushed to withdraw funds immediately after the announcement.

It's a working theory, and IMO it is entirely possible.

It’s part of the Frog Boil

They float these ideas out there to see if anyone notices

If it gets resistance they pull it back and then try to sneak it by later during some sort of crisis when nobody is paying attention

Aaaaaaand it’s back on again, but this time they wont let you cancel our account.

https://boriquagato.substack.com/p/kitten-corner-pay-your-pals

After a couple of decades using this for eBay purchases, recurring payments, any purchases I didn't want to pay for directly with a credit card, and to manage the money for my 30th HS Reunion, my PayPal account is now closed.

This $2500 "fee", Fine, whatever is a BIG RED FLAG that this company is no longer able to be trusted with my financial transactions.

I was always leery of having to verify my bank account info -- required just to open an account.  I don't like the idea of a corporation having direct access to make withdrawals from my checking or savings account.  Deposits are okay -- direct deposit of paychecks, refunds from people I am owed, etc.  But giving permission to make withdrawals is risky.

Anyway, they finally lost a longtime customer.

I used them in the past to accept credit card payments.  The sender/cardholder didn't have to have a PayPal account to do this.  When the person clicked in my webpage to pay via PayPal, they could then use the PayPal service via a "Pay Using Credit Card" link to complete their payment.  PayPal then deposited the money, minus their cut, into my personal account.  The sender never needed to login, or even to have an account.

From what I see now, the receiver has to have a Premiere or Business account to  use that feature.  Personal accounts no longer can.

That kills the one thing I MIGHT have kept the PayPal account for.

Buh Bye!