Paypal amends user agreement

[skydivr]

I'm not sure how I feel about this. I want Paypal to have some pretty good info to prevent fraud, but I worry about them storing said data...If anonymous or someone else hacked it...they'd have billions of dollars of ID theft data...thoughts?
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his page informs users in advance of important changes to the PayPal service, its User Agreement, or other policies. This page displays policy updates with future effective dates. Go to “Past Policy Updates†for previous policy updates.Amendment to the PayPal User Agreement

Effective Date: Apr 01, 2012
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• Amendment to the PayPal User Agreement

Effective Date: April 1, 2012

• Section 2.3 of the User Agreement (Identity Authentication) is being amended because we are making changes to our customer identification program as a result of changes in the law. Section 2.3 will now read:

2.3 Identity Authentication. You authorize PayPal, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide your date of birth, a taxpayer identification number and other information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your Information against third party databases or through other sources. We may also ask to see your driver’s license or other identifying documents at any time. If you use certain PayPal Services federal law requires that PayPal verify some of your Information. PayPal reserves the right to close, suspend, or limit access to your Account and/or the PayPal Services in the event we are unable to obtain or verify this Information.

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• Section 4.12 of the User Agreement (Micropayments for Digital Goods) is being updated to increase the maximum amount received in Taiwan New Dollars (TWD) that may be subject to a reversal without requiring a Dispute escalation from 10.00 TWD to 249.00 TWD.

• Amendment to the PayPal Privacy Policy

Effective Date: April 1, 2012

We have made amendments to the PayPal Privacy Policy to reflect the way PayPal collects, stores and processes your personal information. A few of the changes to the Privacy Policy are highlighted below, however, we recommend you review the updated Policy in its entirety. The amended Privacy Policy is effective April 1, 2012 for existing users and effective upon acceptance for new users.

How we collect information about you. We have amended this section to address how PayPal collects data from your computer, mobile phone or other access device. We may also collect information about your use and interaction with our website, application or the PayPal Services.

How we use cookies. We have amended this section to reflect our use of session and persistent cookies, Local Shared Objects (commonly referred to as “Flash Cookiesâ€) and the use of pixel tags. The help section of most browsers or browser add-ons provides instruction on blocking, deleting or disabling cookies.

Marketing. We have amended this section to address opting-out of notifications via our application and SMS messages.

How you can access or change your personal information. We have amended this section to include information regarding our account closure process.

How you can contact us about privacy questions. We have amended our disclosure of PayPal’s recognition as a TRUSTe Privacy Seal holder to comply with TRUSTe’s Website Privacy Certification program requirements.
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Amendment to the PayPal User Agreement

Effective Date: Mar 06, 2012
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• Amendment to the PayPal User Agreement

Chargeback fee in the following countries: Albania, Andorra, Bosnia and Herzegovina, Croatia, Iceland, Norway, Russia, Turkey.

The Chargeback Fee shall be amended as follows in relation to users in the countries listed above:

Currency:	Fee:
Argentine Peso:	70.00 ARS
Australian Dollar:	22.00 AUD
Brazilian Real:	35.00 BRL
Canadian Dollar:	20.00 CAD
Czech Koruna:	400.00 CZK
Danish Krone:	120.00 DKK
Euro:	16.00 EUR
Hong Kong Dollar:	155.00 HKD
Hungarian Forint:	4325 HUF
Israeli Shekel:	75.00 ILS
Indian Rupee:	950.00 INR
Japanese Yen:	1875 JPY
Malaysian Ringgit	65.00 MYR
Mexican Peso:	250.00 MXN
New Zealand Dollar:	28.00 NZD
Norwegian Krone:	125.00 NOK
Philippine Peso:	900.00 PHP
Polish Zlotych:	65.00 PLN
Singapore Dollar:	28.00 SGD
Swedish Krona:	150.00 SEK
Swiss Franc:	22.00 CHF
Taiwan New Dollar:	625.00 TWD
Thai Baht:	650.00 THB
Turkish Lira:	30.00 TRY
U.K. Pounds Sterling:	14.00 GBP
U.S. Dollar:	20.00 USD

Fee Cap for receiving eCheck payments in the following countries: Albania, Andorra, Bosnia and Herzegovina, Croatia, Iceland, Norway, Russia, Turkey.
If you are a Seller, your Fees for receiving payments are set out in Exhibit A (Fees) of the User Agreement. Currently, for sellers in the countries listed above, there is a maximum fee per payment for receiving eCheck-funded payments. This fee cap per payment will be increased and will be as listed below. The cap depends on the currency of the received payment.

Currency:	Fee Cap:
Argentine Peso:	150.00 ARS
Australian Dollar:	50.00 AUD
Brazilian Real:	75.00 BRL
Canadian Dollar:	45.00 CAD
Czech Koruna:	850.00 CZK
Danish Krone:	250.00 DKK
Euro:	35.00 EUR
Hong Kong Dollar:	330.00 HKD
Hungarian Forint:	9250 HUF
Israeli Shekel:	160.00 ILS
Indian Rupee:	2000 INR
Japanese Yen:	4000 JPY
Malaysian Ringgit	150.00 MYR
Mexican Peso:	540.00 MXN
New Zealand Dollar:	60.00 NZD
Norwegian Krone:	270.00 NOK
Philippine Peso:	1900.00 PHP
Polish Zlotych:	140.00 PLN
Singapore Dollar:	60.00 SGD
Swedish Krona:	320.00 SEK
Swiss Franc:	50.00 CHF
Taiwan New Dollar:	1350.00 TWD
Thai Baht:	1400.00 THB
Turkish Lira:	80.00 TRY
U.K. Pounds Sterling:	30.00 GBP
U.S. Dollar:	45.00 USD

 

[Mr Brown]

Why in the world would PayPal need my credit report or driver's license?

 

[Sous]

The problem is that if you say no, then how are you going to send or receive money over the internet? So, if you say yes, then you may be signing up for identity theft, but if you say no you are done buying things with PayPal.

They got us whether we like it or not.

 

[outlawbusa]

I would imagine they are attempting to slide in a credit report to prequalify for their new Paypal Credit Card. Slippery business move for sure

 

[Blanca BusaLess]

Just wondering if good credit will become a requirement to use PayPal?

 

[zukracer]

I've found that most online places like PayPal that offer credit and banking services are really no different than your standard local bank. While they are almost entirely internet based, it is definitely big business and they are bound to a number of the same regulations as say Bank of America or Wells Fargo but they are also a little more open because they are not *exactly* the same kinda bank. I have used them for years and will no doubt continue to but I have a few things I do to limit my exposure.

First, I have a credit card and bank account that I use for web based stuff. Its fairly isolated from my other accounts and allows me to limit how much someone can access.
Second, I took a small leap of faith and signed up for life lock years ago. I was getting literally 100s of credit card offers, random phone calls asking me if I would confirm buying something, etc etc within a 2 month period. Honestly it spooked me good and after seeing my credit report was in tact, I signed up. Within a couple of weeks all of the credit card offers stopped. All of the random phone calls stopped. They actually caught someone trying to open an account in my name and called me within about 2mins when I actually attempted to open one at a department store, making sure it was really me.
Third, I have different email addresses I use for different things. This allows me to quickly identify what is garbage or worth a look, because if my bank emails me on an address they dont know, well...hmm

This is not to say that I cannot have my identity stolen or worse but there are definitely some steps folks can take to help ensure they are as protected as possible. As mentioned earlier, what will you do if you no longer use PayPal? Pretty much means you won't be buying much on ebay or other sites...and I am willing to bet other places like Amazon, iTunes, etc will be updating their TOU/TOS statements as well. At the end of the day we sorta just have to limit our exposure, make educated purchases from reputable dealers and do what we can to protect our identity.

 

[MO-BUSA]

I would imagine they are attempting to slide in a credit report to prequalify for their new Paypal Credit Card. Slippery business move for sure

i agree, very slippery

 

[skydivr]

I've found that most online places like PayPal that offer credit and banking services are really no different than your standard local bank. While they are almost entirely internet based, it is definitely big business and they are bound to a number of the same regulations as say Bank of America or Wells Fargo but they are also a little more open because they are not *exactly* the same kinda bank. I have used them for years and will no doubt continue to but I have a few things I do to limit my exposure.

First, I have a credit card and bank account that I use for web based stuff. Its fairly isolated from my other accounts and allows me to limit how much someone can access.
Second, I took a small leap of faith and signed up for life lock years ago. I was getting literally 100s of credit card offers, random phone calls asking me if I would confirm buying something, etc etc within a 2 month period. Honestly it spooked me good and after seeing my credit report was in tact, I signed up. Within a couple of weeks all of the credit card offers stopped. All of the random phone calls stopped. They actually caught someone trying to open an account in my name and called me within about 2mins when I actually attempted to open one at a department store, making sure it was really me.
Third, I have different email addresses I use for different things. This allows me to quickly identify what is garbage or worth a look, because if my bank emails me on an address they dont know, well...hmm

This is not to say that I cannot have my identity stolen or worse but there are definitely some steps folks can take to help ensure they are as protected as possible. As mentioned earlier, what will you do if you no longer use PayPal? Pretty much means you won't be buying much on ebay or other sites...and I am willing to bet other places like Amazon, iTunes, etc will be updating their TOU/TOS statements as well. At the end of the day we sorta just have to limit our exposure, make educated purchases from reputable dealers and do what we can to protect our identity.

Totally concur. I do same.

 

[kuntreeboy]

I have been wondering about Lifelock and if it was worth it for the wife and I? Just wonder how expensive it is?

 

[zukracer]

I have been wondering about Lifelock and if it was worth it for the wife and I? Just wonder how expensive it is?

I think its like $120 for the two people. They have deals with different groups I believe depending on where you buy it from you might save $10-20 for the first year and get some points with your card/airline/etc. Worth it is relative but I will say that all the random phone calls, excessive credit card offers, just weird stuff stopped shortly after I signed up. Could just be coincidence but I tend to think they did something. They are definitely proactive and for me at least it was worth the peace of mind. I travel all the time with work, so while I try to be good about stuff there is always just that chance I loose my wallet, credit card, etc. You have to also be proactive with them, like I had my bank card stolen, I had to call and report it to them as well as my bank so they placed the account in some sort of higher awareness state. At the end of the day, for less than what I pay to fill up my truck I get a year of monitoring/policing of my identity. For me it was a no brainer.


And FWIW I'm not a paid advertiser for them just a happy customer