Operation Abandon PayPal Starts

New PayPal Policy Lets Company Pull $2,500 From Users’ Accounts If They Promote ‘Misinformation’ | The Daily Wire
https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation

I've never used PayPal, or if I did I don't remember my password. I don't know the scope of the terms here. Is there a chat within PayPal they are referring to? What does misinformation mean to PayPal? What does misinformation mean to Elon Musk?

If PayPal retracted this policy because of backlash and denied it ever should have been published, they'd better make it to the top of the news cycle because there's a run on their systems now.
Typical tweet now: BREAKING: PayPal spreads misinformation and fines itself $2,500.

Quote: ChumpChange

New PayPal Policy Lets Company Pull $2,500 From Users’ Accounts If They Promote ‘Misinformation’ | The Daily Wire
https://www.dailywire.com/news/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation

I've never used PayPal, or if I did I don't remember my password. I don't know the scope of the terms here. Is there a chat within PayPal they are referring to? What does misinformation mean to PayPal? What does misinformation mean to Elon Musk?

If PayPal retracted this policy because of backlash and denied it ever should have been published, they'd better make it to the top of the news cycle because there's a run on their systems now.
Typical tweet now: BREAKING: PayPal spreads misinformation and fines itself $2,500.
link to original post

Before they could correct it a whole bunch of users jumped ship. I use PayPal all the time because that's how the casinos pay me, with PayPal. Really bothers me that places like Sam's Club does not take PayPal but Walmart does. So that means to pay Sam's Club which is where I buy my bulk cat food I have to transfer the money from PayPal to some other form of payment, pain in the ass.

eBay started to allow credit cards a couple years ago so the last thing I bought on eBay wasn't with the usual PayPal. I probably used eBay & PayPal over 20 years ago, idk. A lot of people over the years have complained that PayPal can freeze bank accounts so I never was much of a fan of PayPal to begin with. Now with threats of $2500 charges for who knows what, people rightfully think the cat is out of the bag and the platform is too unstable to do business with. But if PayPal is doing its part to punish Putin supporters, they'd better be able to withstand a 40% drop in enrollment.

How insane is the world when a company thinks they can just take your money with no legal action for words you spoke.
If you wish to tamp down misinformation you need to start with the Government and Media as they are
the largest contributors.

The last time I logged into PayPal was 11 years ago so it had my old phone number. I had to add my new phone number and uncheck a couple checkboxes on my old phone number. I found no way to delete my old phone number. So I got a 2FA text code on my new phone when adding my number. My old bank was listed as my account, but that bank went out of business since my last login and my checking account was transferred to a different bank per FDIC. I had the same account number but a different bank. Then it wanted me to confirm my bank account after telling me it just did two 50 cent transactions and reversing it with a $1 transaction. I deleted the bank account within PayPal. I can't close my PayPal account with outstanding transactions, so I can only infer that there was no transaction or I'll have to check with my bank to see if there were 3 transactions. I deleted my PayPal history, which was only a couple transactions likely, I didn't see my history. I was asked why I was deleting my account and wrote that #CancelPayPal was trending on twitter. They wanted to text my phone to confirm I was closing my account, but they had the defunct phone number so I had to backspace out and uncheck the checkboxes on my old phone number. Then I tried to close my account again and it didn't even ask for a text confirmation supposedly because the previous text confirmation was still active. I got an e-mail that my account is closed. So I won't be getting charged $2,500 by PayPal for whatever reason they've got. I had to go to Settings and scroll to the bottom on the left side to find the Close My Account button.

Quote: rainman

How insane is the world when a company thinks they can just take your money with no legal action for words you spoke.
If you wish to tamp down misinformation you need to start with the Government and Media as they are
the largest contributors.
link to original post

I heard this being talked about on the radio today and apparently it's a common practice in the fine print in contracts that companies can do things like this. Many of them are sued over it. Nobody reads the fine print and quite often the company itself doesn't even know it's there because they didn't read the fine print either. It was dreamed up by some lawyer.

Just to be clear, you were never subjected to the objectionable policy. The change being discussed was announced as a future change to PayPal’s acceptable use policy but retracted before being effective, according to The Register’s article PayPal decides fining people $2,500 for 'misinformation' wasn't a great idea.

Yes, PayPal is on my long list of accounts that are difficult to set up or change. I keep mine active with a $0 balance. If I make a PayPal transaction the exact amount of the transaction is then withdrawn from my banking account with no fee. I prefer PayPal for two particular uses.

When contributing to a group activity I can usually send my donation via PayPal and it is only withdrawn from my account once the recipient gets the money. This is faster than sending a check and saves the cost of the postage stamp. Vimeo, the alternative popular with the younger crowd, requires you fund the transaction ahead of use.

When you fund a reoccurring service cost using your bank account, it can be difficult to terminate that subscription because you must jump through whatever hoops the company providing the service demands. For instance, placing a call to a number that never seems to be staffed and, once answered, is perennially plagued by “unusually high call volumes” causing long hold times. You cannot get your bank to deny future payments. If the subscription is funded using PayPal, you can terminate it yourself in your account settings.

Although I have never had a problem with PayPal in 20 years of use, the bank account I use is specifically for this type of service. It always has a low balance, only enough to fund anticipated transactions, and does not permit overdrafts.

ChumpChange, I think it odd that you, a gambler, will not accept the risks of doing business with PayPal. However, it is of course your call.

I believe you mistook Vimeo and meant Venmo. Venmo is owned by PayPal since 2012. I don't know if Venmo will be affected by the #PayPalCancelled movement, but it is very close to being added. Tweeters are outraged and the PayPal stock is expected to plummet this week.

Now for EvenBob's gambling habits using PayPal, that's him. I don't gamble online and my state hasn't made it legal in a very long time. Last I knew, I'd have to drive to the Pennsylvania border and gamble online with PA casinos from a WalMart parking lot. Makes me want to get a Tesla so I don't freeze in the winter. Anyways, bets online are tracked and become the data the IRS gets ahold of. I prefer chips and vouchers at a B&M that's within distance. Venmo has become a tracker for the IRS this year, so when people get their tax forms from the IRS about transactions totaling more than $600 for this year and they have to prove they are not a merchant, that could poke a big hole in Venmo.

PayPal & Venmo were never a big part of my life. Some people who had their credit cards cancelled may need PayPal. Merchants may boycott PayPal because their customers are boycotting PayPal. I don't know how that works. Credit cards are being cancelled all the time during this recession/depression, so there's hope for PayPal yet.

Paypal's stock is down at least 10 points and over $6 billion, on a Monday holiday! They'll get massacred today!

Misinformationist TimCast has some words today.
PayPal Stock TANKS After INSANE Social Credit System BACKFIRED, PayPal Claims It Was An Error - YouTube https://www.youtube.com/watch?v=dL1CkQNxdYw

I'm boycotting Parallel Economy as it is.

Bloomberg - 2/2/22: PayPal Plunges, Forced to Close 4.5 Million Accounts - YouTube https://www.youtube.com/watch?v=LVxB_bNk_BU

STOP USING PAYPAL NOW - Louis Rossmann - 9/19/19: YouTube https://www.youtube.com/watch?v=YPXhzgC2ODs

PayPal and Stripe STOLE MY MONEY! (Why Your Credit Repair Business Needs Merchant Services) - YouTube https://www.youtube.com/watch?v=NgsloojiGEw

Quote: BleedingChipsSlowly

Just to be clear, you were never subjected to the objectionable policy. The change being discussed was announced as a future change to PayPal’s acceptable use policy but retracted before being effective, according to The Register’s article PayPal decides fining people $2,500 for 'misinformation' wasn't a great idea.

Yes, PayPal is on my long list of accounts that are difficult to set up or change. I keep mine active with a $0 balance. If I make a PayPal transaction the exact amount of the transaction is then withdrawn from my banking account with no fee. I prefer PayPal for two particular uses.

When contributing to a group activity I can usually send my donation via PayPal and it is only withdrawn from my account once the recipient gets the money. This is faster than sending a check and saves the cost of the postage stamp. Vimeo, the alternative popular with the younger crowd, requires you fund the transaction ahead of use.

When you fund a reoccurring service cost using your bank account, it can be difficult to terminate that subscription because you must jump through whatever hoops the company providing the service demands. For instance, placing a call to a number that never seems to be staffed and, once answered, is perennially plagued by “unusually high call volumes” causing long hold times. You cannot get your bank to deny future payments. If the subscription is funded using PayPal, you can terminate it yourself in your account settings.

Although I have never had a problem with PayPal in 20 years of use, the bank account I use is specifically for this type of service. It always has a low balance, only enough to fund anticipated transactions, and does not permit overdrafts.

ChumpChange, I think it odd that you, a gambler, will not accept the risks of doing business with PayPal. However, it is of course your call.
link to original post

What you described is basically how I use pay pal nowadays. Back in the day, I used it for online gambling when it was allowed. You used to rack up points when using Paypal, I don't remember what they were good for, but I had a boatload and got screwed out of my points somehow, I have been salty ever since.

p.s. PayPal claims they were never going to actually do this.

Back when BTC was below $1,500 or somewhere around there, I dont remember exactly what it was at the time or what year it was. I was on the fence about loading up on BTC as an investment. I just happen to meet a guy in a casino(yeah I know, nothing good ever starts with, "I meet a guy in a casino") who worked in some management capacity for eBay and their security and fraud department. We got to talking about BTC. He told me they would never accept bitcoin as a payment method because it would be a fraud nightmare. That was one of the reasons I never loaded up back then.

Is This Why PayPal Are FREEZING Accounts?! (Including Mine) - Neil McCoy-Ward - 361K subscribers - YouTube
https://www.youtube.com/watch?v=MJcL5U-pioU

The system is down.

RT: PayPal is going the way of Celsius ...
I honestly think they are having a liquidity crisis.
Thoughts ??

Quote: ChumpChange

Is This Why PayPal Are FREEZING Accounts?! (Including Mine) - Neil McCoy-Ward - 361K subscribers - YouTube
https://www.youtube.com/watch?v=MJcL5U-pioU

The system is down.

RT: PayPal is going the way of Celsius ...
I honestly think they are having a liquidity crisis.
Thoughts ??
link to original post

I just used PayPal not five minutes ago and everything's fine. Money is still there and I bought something with it. Cat food at Sam's Club.

Quote: AxelWolf

p.s. PayPal claims they were never going to actually do this.
link to original post

Yeah, as people are closing Paypal accounts and Paypal stock drops 10%, Paypal claims they were never going to actually do this. Given that they actually developed this policy and the language to notify people of it, this sounds like a lame falsehood, not even plausible deniability from a company suddenly in trouble.

I'm transferring all the funds from my Paypal account into my bank account. Then I'll make a decision whether to close my Paypal account.

Some things cannot be borne.

BREAKING: JP Morgan Chase CANCELS Kanye West's bank accounts. Gives him until November 21st to remove funds...

RT: JPMorgan Chase sucks but the worst of them is BOA. #BankOfAmericaIsCommieTrash - trending on twitter
RT: I can’t stop laughing at every conservative dropping their #BofA bank accounts in the name of canceling cancel culture.
All for a dude named “Catturd”.

BREAKING: Bank of America Cancels Popular Conservative Twitter User Catturd's Bank Account #BankofAmericaIsCommieTrash https://www.thegatewaypundit.com/2022/10/breaking-bank-america-cancels-popular-conservative-twitter-user-catturds-bank-account-bankofamericaiscommietrash/?utm_source=Twitter&utm_medium=PostTopSharingButtons&utm_campaign=websitesharingbuttons

Quote: ChumpChange

BREAKING: JP Morgan Chase CANCELS Kanye West's bank accounts. Gives him until November 21st to remove funds...

RT: JPMorgan Chase sucks but the worst of them is BOA. #BankOfAmericaIsCommieTrash - trending on twitter
RT: I can’t stop laughing at every conservative dropping their #BofA bank accounts in the name of canceling cancel culture.
All for a dude named “Catturd”.

BREAKING: Bank of America Cancels Popular Conservative Twitter User Catturd's Bank Account #BankofAmericaIsCommieTrash https://www.thegatewaypundit.com/2022/10/breaking-bank-america-cancels-popular-conservative-twitter-user-catturds-bank-account-bankofamericaiscommietrash/?utm_source=Twitter&utm_medium=PostTopSharingButtons&utm_campaign=websitesharingbuttons
link to original post

Kanye West has a net worth of over two billion dollars. Banks will be lined up around the block wanting his business. JPMorgan Chase is out of its mind to do this

Being an unbanked billionaire, will he have to put all that cash in a casino safe or something? How much room does 2 billion dollars take? It'd be 20 million $100 bills, or 200,000 stacks of 100 $100 bills. I think he needs a forklift, and the bank has 7 days to get that cash from the treasury, lol.
**************************************
So a suitcase in the example below can hold about 500 stacks of 100 X $100 bills, or $5 million. I don't know how much that weighs including the suitcase, but I'm thinking near 50 pounds because I can't carry much heavier on a bus.

Quote: ChumpChange

Being an unbanked billionaire, will he have to put all that cash in a casino safe or something? How much room does 2 billion dollars take? It'd be 20 million $100 bills, or 200,000 stacks of 100 $100 bills. I think he needs a forklift, and the bank has 7 days to get that cash from the treasury, lol.
link to original post

The last time I calculated, $5 million should barely fit into a large suitcase.

So, if my arithmetic is right, about 400 large suitcases.

Quote: ChumpChange

Being an unbanked billionaire, will he have to put all that cash in a casino safe or something?

Yeah, no. Everybody I've ever known with money has more than one bank account. The more money you have the more bank accounts you have. My friend who died at age 87 last summer was worth a couple million and at last count he had 7 bank accounts when he died. The woman I knew 20 years ago who had a chain of stores and was worth about 18 million dollars she had at least 15 bank accounts. It's just something rich people do, they know to spread their money around, it's safer that way.

Quote: ChumpChange

Being an unbanked billionaire, will he have to put all that cash in a casino safe or something? How much room does 2 billion dollars take? It'd be 20 million $100 bills, or 200,000 stacks of 100 $100 bills. I think he needs a forklift, and the bank has 7 days to get that cash from the treasury, lol.
**************************************
So a suitcase in the example below can hold about 500 stacks of 100 X $100 bills, or $5 million. I don't know how much that weighs including the suitcase, but I'm thinking near 50 pounds because I can't carry much heavier on a bus.
link to original post

Bob, can you let us know how many pill bottles it would take?

MDawg could rathole a couple racks of $25,000 casino chips for $5 million.

Quote: ChumpChange

So a suitcase in the example below can hold about 500 stacks of 100 X $100 bills, or $5 million. I don't know how much that weighs including the suitcase, but I'm thinking near 50 pounds because I can't carry much heavier on a bus.
link to original post

Each US note weighs 1 gram.
500 x 100 = 50,000 grams, or 50 kilograms.
That's about 110 pounds, plus the suitcase, plus the wrappers.

You could carry it on a bus, if you were strongly motivated, or you could lighten the suitcase by 1 gram and hire someone to load and unload it for you.

Used PayPal again today to make a big purchase worked just fine. PayPal has worldwide over 425 million verified accounts and I can guarantee you that 400 million of those people have no idea what's going on with this dust-up at PayPal. They do over a trillion dollars in transactions every year they aren't going anywhere. You know who started PayPal, right? Elon Musk. Who's now the richest man in the world by far. And he doesn't even own a home, he lives in a trailer at SpaceX.

I have never heard of this, but I have never used Paypal as a bank (never have money on the account or use their credit products), I have only ever used it as a payment platform to securely pay for stuff through third party sites (by linking accounts to my Paypal account to avoid giving details to foreign sites). I have never had any issues. If you use Paypal as a bank it may be a different scenario. In fact I can't think of the last time I have "logged in" to actual paypal (to view the site), I just sign my password when I buy stuff and it then charges whatever card or account I have linked. And, I think the only company that I use Paypal regularly for anything anymore is Steam, because I linked my Paypal some years ago and just have never changed it (and even this I don't buy often from).

I just view it as a way to more securely link a card or bank account online to buy stuff, nothing more (I think the first I used it was Ebay many years ago when it was the only way to buy stuff on Ebay short of mailing a check to the seller, but I also have not used Ebay in many years so I don't know if this is still the case). I never looked into or got into other stuff they offer.