Anybody using Paypal in the UK - READ THIS

[JohnBull]

You may well have noticed this, but Paypal have just made a big change to their payment system.

 

I recently had to confirm my bank account details with them having received over £4.5K in funds in the last year. This is to comply with EU anti money laundering laws, however, all UK users will have to confirm their bank account details sooner or later anyway.

 

When you confirm these, your Paypal account will automatically default to your bank account as your primary source of funds. Like me, you may well end up making a few transactions, thinking that the funds are coming from a credit card, only to have a rude awakening. Apparently there is a link somewhere in the Send Money page which allows you to change the fund source for a particular transaction, but you can no longer default to a credit card after your bank account has been confirmed through their new protocols.

 

I imagine this will affect all European users, but US users will be unaffected.