PayPal - "Update account information" message

[JazzOscar]

Anyone else getting the page attached below when logging in to PayPal today?

I suppose it ok.

[helptobiz]

I didn't get this when I logged in a few hours ago but it should be fine as long as you received this when you logged in,and not through a email. NEVER open those,but you probably know this already.

[JazzOscar]

Originally Posted by helptobiz

I didn't get this when I logged in a few hours ago but it should be fine as long as you received this when you logged in,and not through a email. NEVER open those,but you probably know this already.

I think it should be safe too as long as I got it after a normal log in.

A little unexpected though, and not very much of an explanation as to why they ask for this just now.

[Arindam Chakraborty]

Originally Posted by JazzOscar

Anyone else getting the page attached below when logging in to PayPal today?

I suppose it ok.

Oscar, it is NOT ok. If you don't follow their "rules" they may even terminate your account. From what I have learnt from my hours of research yesterday, they r doing it for non-US citizens and only for business account holders. US citizens have SSN so they r safe. So it is an "either or" situation for you and me: either get ur biz registered, downgrade to Paypal Premier or Personal or forget about Paypal

I am in the process of registering my biz (still in "research" mode)
I wud have done it anyway but maybe next year. This is just so sudden that

I wud suggest u call them and pose as a "wannabe customer". Tell them u wish to signup for a business account and ask them why they r asking for a business registration no? Their answer would be applicable to you too.

Don't tell them ur biz is not registered and still u r holding a business account at paypal, or they might as well "freeze you". Maybe I think too much, but even the Devil is way better than paypal IMO. They just need an excuse to freeze your account and earn free interest on your money.

Good luck, and let us all know how you go

>>I think it should be safe too as long as I got it after a normal log in

You would get it everytime u login. Yes you can bypass that page but IMO it is very risky to keep your PP account at that stage for too long.

[patJ]

Hm, never seen that before... maybe it's because you're in norway.

[JazzOscar]

Originally Posted by Arindam Chakraborty

-----So it is an "either or" situation for you and me: either get ur biz registered, downgrade to Paypal Premier or Personal or forget about Paypal -----

I've been in business as an IT consultant for about 25 years now, so, luckily, my business has been registered for years. So, I'll just have to enter my registration details and see if they are accepted.

I can see the problem this may cause to you and many others though. Perhaps they could have warned about this a little ahead of putting up that form.

On the other side;

Maybe the requirement to be registered is already in their TOS, meaning they're just following up on something which we've already accepted. I don't know.

[AmeerSalim]

I got it too after a normal login and have updated it diligently.

From what I can recall, I know of a well-known marketer who's Paypal account was frozen a few years ago- apparently he did not have his business registered at that time but used a Business paypal account under a fictitious name. (He thought it was ok)

So when Paypal asked for scanned documents for verification, he simply couldn't.

Better follow the rules to be on the safe side.


Ameer

[Arindam Chakraborty]

Originally Posted by AmeerSalim

I got it too after a normal login and have updated it diligently.

From what I can recall, I know of a well-known marketer who's Paypal account was frozen a few years ago- apparently he did not have his business registered at that time but used a Business paypal account under a fictitious name. (He thought it was ok)

So when Paypal asked for scanned documents for verification, he simply couldn't.

Better follow the rules to be on the safe side.


Ameer

Hi Ameer,

You are right. I don't know about other countries but in India I think registering a sole proprietorship/partnership business is NOT mandatory. You can choose to do it if you want, but that is just an option. Many people here hardly register a sole proprietorship, (perhaps out of tax/VAT fears), while almost every LLC HAS to get itself registered (it is mandatory).

Since several IMers have what we call "small business" they have not registered it yet. As a result, they are now caught on the wrong foot as Paypal is suddenly asking for the reg. no. Had it been a common "rule" of their house it would not have been an issue. When I opened my account I was not asked for all those details at all!

[TheRichJerksNet]

They ask for this information to keep everything upto date as they must report to the FTC and other Government Branches. If the security team feels your info is out of date then they will ask you to update it..

Starting in 2011 PayPal will reports all earnings to the IRS so they must have up to date records...

James