PayPal Policy Update

[Aces]

Effective May 2004, PayPal will require U.S. Premier and Business users who receive more than $2,000.00 USD a month in payment volume through PayPal over three consecutive months to provide supplemental information about their businesses including business categorization, sales venue and business URL information.

 

Collecting information for the IRS now huh?

[MK Ultra]

Yeah, the IRS is probably breathing down their backs. It's been big in banks to "know your customer" for a couple of years now.

[uclapeterg]

Reminds me of companies like Fidelity alsoi asking for personal info too. It could be the IRS -- in addition, it could be to stop the potential funding of islamic terrorists thanks to the Patriot Act.

[fiendish]

And drug dealers. It's been my experience for a while that if you're moving more than a couple thousand cash through a bank account, they want to know more about you.

[uclapeterg]

Good point.