Paypal photo id

[red_slr]

Anyone else been asked for photo id and proof of address?
Seems odd, confirmed with them its a legit request.

Been onto my account and you just upload a copy of your PP and DL.

I don't have an account balance and make maybe £2000 ish of payments a year to purchase stuff on ebay etal.
Cant say as I trust them with these documents. Is there any way around this - maybe open another account? I have been making payments with paypal since at least 2001 all through the same account.

I guess if I refuse to supply that's it for my account?

[Blanchimont]

I'd be asking why they need it, for a kick off.
There's no reason I can think of that would warrant needing it, unless you've recently been hacked

[bigandclever]

There are EU anti money laundering regulations that required photo id to be provided, but I thought it was 2500 euros received in a year, not spent. Maybe it's both.

[DonkeyApple]

PayPal uses a licence in Luxembourg that has allowed them to get away with not fully complying with AML or KYC regs as would be required by a normal bank in a normal jurisdiction.

They’ve been wanting to become a real bank for years and it maybe that they are applying for a proper license within the EU which would require all clients within that jurisdiction to be properly papered.

Conversely, an activity on your account may have tripped a risk assessment.

[soad]

Yes, been asked in the past numerous times.

Suppose, they could lock the account.

[sgtBerbatov]

Got asked this by them about 5 years ago, and I refused as I wasn't going to send a payment processor my ID. As far as I'm concerned they didn't need it.

5 years on, I've never needed PayPal. So it's their loss, not mine.

[red_slr]

I sent my DL over and redacted the DL number and my signature... see what happens I guess.

[Saleen836]

Paypal closed my account after a lengthy dispute with ebay (ebay account also closed by ebay) I still use paypal now just as a guest, their loss not mine

[soad]

The issue is that they're all eager to open an account. Verifications come later. Never mind the inconvenience it causes.

Had this with Revolut and other banks too.

[DonkeyApple]

soad said:

The issue is that they're all eager to open an account. Verifications come later. Never mind the inconvenience it causes.

Had this with Revolut and other banks too.

It’s the issue caused by an entity such as Revolut wanting to obtain a banking license which means they have to operate under banking codes so different layer of regulation. They’ve done a quick and easy passport into the EU through a Bank of Lithuania license that allows them to piggyback in but they intend to obtain real banking licenses so must carry out normal KYC and AML on their clients to achieve that.

The thing worth noting is that if an institution does not ID you then you know that you have no protections.

[red_slr]

Well they have now locked my business account too.

How is a LTD company meant to provide photo ID?

[Lemming Train]

red_slr said:

Well they have now locked my business account too.

How is a LTD company meant to provide photo ID?

The same way you have to provide photo ID when forming a Limited Company perhaps?

[bigandclever]

Lemming Train said:

red_slr said:

Well they have now locked my business account too.

How is a LTD company meant to provide photo ID?

The same way you have to provide photo ID when forming a Limited Company perhaps?

Or a company bank account.

[red_slr]

That's not what they are asking for though.

They are asking for drivers licence, passport or military ID. Must be in the name of the account holder. Which is a LTD company.

[DonkeyApple]

red_slr said:

That's not what they are asking for though.

They are asking for drivers licence, passport or military ID. Must be in the name of the account holder. Which is a LTD company.

Standard KYC/AML is to ID all significant shareholders as per individuals.

If you’re a single shareholder LTD then you’d just be sending the ID docs of that individual.

I might hazard that firms like PayPal that have never had to fully comply with these rules may not ha e updated their website to make the distinction between ID of the shareholders as opposed to a photo of your company.