Adult phone chat paypal
The parent is suggesting setting up a 0 balance sweep account and then having paypal deposit all funds into that account nightly. which is exactly the same as every merchant account I've ever seen. For example, if they aren't certain you comply with their internal AML policy, they may have the power to indefinitely hold your funds.
Paypal is a licensed money transmitter, and they are required to follow those rules. If Pay Pal decides the money isn't yours, it goes back to who sent it. If they aren't certain you comply with their internal antifraud policy, they may have the power to indefinitely hold your funds.
Pay Pal provides the means to pay with a credit/debit card without having to have or create a Pay Pal account.
That said, they do not make it prominent and I often have to explain to my users how to find it.
sever their access, close account, change account number).
The parent's comment makes absolute sense if you know what sweep accounts are used for in the more traditional sense. If you're holding funds "in reserve" or otherwise "on deposit" with them, however, the rules are more flexible.
All the while, the funds in your account add up - yet you can't touch them - and you have to deliver product to customers. I thought I was safe with your advice, but still found myself recently with 6 figures held in a PP account.
From the government's perspective, you give Pay Pal money and then Pay Pal gives you money. Pay Pal has enormous discretion around what they can do with those funds, how and under what circumstances they get to decide to give it to you and if they get to keep it forever. If you can't avoid using Pay Pal for certain lines of business, set up a nightly sweep from Pay Pal to a proper bank account. The holds seem reasonable at first (ID check, business verification, etc) - but can / will drag on for weeks / months.
Pay Pal's agreement requires 30 days notice of any changes, and they post the changes on their website: https://
Paypal's anti-money laundering rules comply with the rules set by each state that money transmitters are required to follow.